The speech by the Managing Director of Stagecoach Rail Ltd. discusses the company's experience in operating a rail passenger service in the UK. Stagecoach grew from a bus company in 1980 to also run trains, highlighting the need for private sector involvement in improving the rail industry. To make rail privatisation successful, franchises should be given to private companies, track costs and franchising arrangements must be realistic, and speed and flexibility are crucial. The goal is to bring major improvements to the railways by applying the combined skills of private operators effectively.