Yeah it is an example of how not to run something like that.
It's kind of like our medical system. You set up a public company and then elect "free enterprisers" who insist the managers need to be rewarded like they were running a private corporation and get rewards without the ability to decide shit.
Then you still have the problem of regardless of if you elect conservatives or true socialists they stack the boards with cronies regardless.
But you know what? It makes the news because it's public, everyone can vote out the party that did it. Which you can't do with a private company.
Plus it's such a cash cow, any party has to be absolutely fucking retarded to get rid of ICBC.
Well said Herbie. With the private companies they gouge you just as hard but the profits go to shareholders. With ICBC they go to the govt, ie back to us.