Steam Racket

"As of June 2009 the company is under investigation by a Select Committee of Tynwald, the Isle of Man's parliament. One of the concerns of Tynwald is the annual published profit margins by the Isle of Man Steam Packet Company, which according to Hansard, are 36% - almost three times the industry standard for ferry companies throughout the world." THREE FUCKING TIMES.

And why does it need such a massive margin? From Manx Radio -

"Mr Malarkey believes the real problem lies in the fact the company is servicing massive loans, taken out by its parent company McQuarrie." Who'd have guessed?

So in the face of their first bit of competition do they:-

A - Accept a lower profit margin, lower freight prices to increase their competitiveness and try and win back customers whilst at the same time lowering foot passenger fares to increase the number of people using the fleet and stop half empty sailings. More people onboard means a busier bar and more £4 sandwiches being sold.

B - Blame it on foot passenger rates and threaten to increase them, cut services and lay off staff (in order to maintain their 36% profit margin)

C - Blame it all on a user agreement that has allowed them up to now to financially pillage the Manx public (and businesses) for a 36% profit margin

D - Expect some sort of Government intervention in order to maintain their 36% profit margin

E - All of B,C and D