Carillion going bust

If my aunt had bollocks, the government awarding Carillon further contracts in 2016 and 2017 would have been enough to prevent them folding and would have saved thousands of jobs. And she'd have been my uncle. Things don't always go to plan.

However, I'm not one to advocate government intervention: In fact as an admirer of Thatcher, quite the opposite. I was merely reflecting that sometimes decisions are more complicated especially when thousands of jobs are at stake.

Corbyn's stance is typically hilarious however: We shouldn't have been handing government contracts to Carillion (which would probably have seen them go under sooner) and now they have gone under, we have not done or are not doing enough to keep them afloat. The man is of course a buffoon.

Still don't understand the fixation on the fact that Carillion would have gone under sooner - what does that matter? Last Sept or this Monday they were still badly managed and yes we agree Govt intervention ( from a free market thinking Govt ) is just wrong.

Jeremy Corbyn isn't on about keeping the entity Carillion afloat - he advocates support for those who work for them, SME's facing oblivion as they won't get paid and support of the contracts which need to keep day to day running going - i.e. putting school meals on tables and making sure prisons don't become mass riots etc. You assessment of Corbyn's stance is just incorrect as clearly someone advocating public ownership of public services would not also advocate Carillion as a business should be saved as is and keep on reqarding its senior team.
 
Am i the only one who thinks it is a good name for a Star Wars type of ship.

"Akbar, get that carillion cruiser ready you lazy twat"
Someone brought carillion on board and I've lost my superpowers.
 
Yes they were already shareholders in Carillion before he was appointed chair.

That doesn’t mean he was a shareholder as you implied (actually you didn’t just imply it, you stated it), nor that he ran the pension scheme. And yes, I know L and G managed one, but it’s the trustees that run them and the Carillion board that can choose the funding level etc, not the pension provider (L and G).
Youll also know that L&G are connected with a pension fund for Interserve which was mentioned on here earlier in the thread.
And so i dont have to quote your next postmy response to you is the same.

Oh dear
 
Youll also know that L&G are connected with a pension fund for Interserve which was mentioned on here earlier in the thread.
And so i dont have to quote your next postmy response to you is the same.

Oh dear
You’ve not answered a single question and L and G run a lot of pension schemes because they are a fucking pension company.

  • So what did Kingman do wrong?
  • Hows he not qualified for the job he got?
  • Which working class lives has he ruined?
  • Are you aware he came into office under Gordon Brown and Alaistair Darling?
  • Do you accept he any and wasn’t a Carillion Shareholder?
  • Do you know that Carillion Shareholders have lost their money?
  • Are you aware L and G were a shareholder of Carillion before he was appointed chair?
  • Why is it wrong to accept money from a hedge fund several months before they make a perfectly legal and correct trade on a company (two days after they released a profit warning)?
Just accept you read one badly written and poorly research ‘article’, likely in the Canary and decided to spout off and make yourself look a bit silly.

Sometimes it’s best to not comment or opine on things you’re not sure of, just because you read it online.
 
Still don't understand the fixation on the fact that Carillion would have gone under sooner - what does that matter? Last Sept or this Monday they were still badly managed and yes we agree Govt intervention ( from a free market thinking Govt ) is just wrong.

Jeremy Corbyn isn't on about keeping the entity Carillion afloat - he advocates support for those who work for them, SME's facing oblivion as they won't get paid and support of the contracts which need to keep day to day running going - i.e. putting school meals on tables and making sure prisons don't become mass riots etc. You assessment of Corbyn's stance is just incorrect as clearly someone advocating public ownership of public services would not also advocate Carillion as a business should be saved as is and keep on reqarding its senior team.
Fair enough, I haven't listened to Corbyn's every word as I have no time for the fool.

My point stands about him being nothing more than a serial protester though. As does my point that were Corillion to have gone under a couple of years ago, citing loss of key public sector contracts as a critical factor, he would have criticised to government for it. Now he's criticising them for awarding these same contracts.

That's his sole purpose in life: to sit on the sidelines and criticise. But by some bizarre twist of fate, he finds himself leader of the opposition. I think he'd be at sea if he was the one actually having to run the country, but fortunately we'll never know.
 
The Government were handing them contracts keeping them afloat. They were under a lot of pressure regarding the NHS. This crisis has now stopped the press talking about the NHS crisis, job done.
 
Reporting Pension deficit of £2.6 billion not the £500k as originally reported. Jeez they can't get anything right

well the shareholder divi's and board bonuses have to come from somewhere FFS - if the Govt won't give you the money like they did the banks then someone has to provide why not the pension scheme. A fitting memorial to Robert Maxwell.
 
From the BBC news site. Let's see how long it takes for Mayday to put her words into action.

The government will stop workers' pensions being put at risk from "executives who try to line their own pockets", the prime minister has said.
In the Observer, Theresa May said a government white paper would set out "tough new rules" for company bosses.
It comes as construction firm Carillion's collapse could leave a pension scheme deficit of £900m, potentially affecting 27,500 workers.
She also defended using the private sector to complete public projects.
In her comment piece, Mrs May stressed that it would be Carillion shareholders, not taxpayers, "who pay the price for the company's collapse".
She said the government would not be writing the company's directors a blank cheque, but would be "stepping in and supporting those affected".
It was earlier reported that Carillion's defined benefit pension schemes has a deficit of £580m, although this figure could be as high as £900m.
 

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