Carillion going bust

  • Thread starter Thread starter worsleyweb
  • Start date Start date
Vic said:
Hang on. If they were underbidding for the contracts, wouldn't they be losing even more money if they got new contracts?
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They were probably after cash flow to keep themselves afloat - which in this case meant keeping the banks happy and meeting loan schedules - whilst they figured a way out of the mess but you’re right in that contracts with negative margins would ultimately catch up with them and add to the problems.
 
Danamy said:
Coincidence?

Chris Grayling appointed Justice Secretary in 2012

First job is to be involved in a "Prison benchmarking programme" where staff were reduced from about 23,000 in 2012 to about 18,000 in 2015

After a Prison enquiry it was decdided savings and staffing shortages had made "a significant contribution to the deterioration and safety" in prisons.

Carillion awarded Prison contract in 2015

Grayling gets a sideways move in 2015

Grayling then lands the Transport Secretary's job in July 2016

Carillion awared HS2 contract in July 2017

Like i say, coincidence?
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Don't forget he let Virgin and Stagecoach off paying £2 billion owed to the treasury.
 
TCIB said:
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"
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Yeah it does have a Star Wars feel to it. Probably explode in the last scene and shaft everyone like it’s Earth counterpart.
 
Danamy said:
Coincidence?

Chris Grayling appointed Justice Secretary in 2012

First job is to be involved in a "Prison benchmarking programme" where staff were reduced from about 23,000 in 2012 to about 18,000 in 2015

After a Prison enquiry it was decdided savings and staffing shortages had made "a significant contribution to the deterioration and safety" in prisons.

Carillion awarded Prison contract in 2015

Grayling gets a sideways move in 2015

Grayling then lands the Transport Secretary's job in July 2016

Carillion awared HS2 contract in July 2017

Like i say, coincidence?
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Edwina Currie talks to my mum often as they seem to have the same shopping day at marks and sparks. The woman says often to mum that the lot of them are dodgy, even young idealistic wide eyed good eggs get absorbed into the system. The casual conversations apparently can often talk about the public as if we are scum and a problem to be overcome as much as any honest efforts at something being chatted over a glass of fine wine.

We could do worse than dissolve it all and start fresh with people from outside the system but it will never happen.
 
TCIB said:
Edwina Currie talks to my mum often as they seem to have the same shopping day at marks and sparks. The woman says often to mum that the lot of them are dodgy, even young idealistic wide eyed good eggs get absorbed into the system. The casual conversations apparently can often talk about the public as if we are scum and a problem to be overcome as much as any honest efforts at something being chatted over a glass of fine wine.

We could do worse than dissolve it all and start fresh with people from outside the system but it will never happen.
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Throw them all in an acid bath ? I like your thinking.
 
Vic said:
Hang on. If they were underbidding for the contracts, wouldn't they be losing even more money if they got new contracts?
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Businesses usually go under because they run out of cash. New contracts = more revenue = more free cash flow. Losses are fine provided you have the backing and the necessary free cash.

It's not as straightforward as people seem to think. Who knows which contracts were / were not profitable. And who knows what the business plans were. Maybe winning contracts at loss-leading prices was part of the strategy? I have no idea, and I doubt anyone else on here has either.
 
TCIB said:
Edwina Currie talks to my mum often as they seem to have the same shopping day at marks and sparks. The woman says often to mum that the lot of them are dodgy, even young idealistic wide eyed good eggs get absorbed into the system. The casual conversations apparently can often talk about the public as if we are scum and a problem to be overcome as much as any honest efforts at something being chatted over a glass of fine wine.

We could do worse than dissolve it all and start fresh with people from outside the system but it will never happen.
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Edwina and eggs is a definite no no
 
Sir John Kingman a major shareholder for Carillion and who run one of Carillions pension schemes has been given the permanent Chair of UK Research and Innovation. He was previously interim Chair.

Jobs for the boys and more pats on the back from the government for ruining so many working class lives.
 
mackenzie said:
Edwina and eggs is a definite no no
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That made me chuckle xD

Ifwecouldjust....... said:
And theres people on this site will still vote for the torys next time round .........
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Honestly, they are all the same in the end because they bow to the system they second they get involved in conventional politics. That is depressing a comment as i can type so i am off to watch animals scare themselves on youtube for a bit :-D
 
Ricster said:
Sir John Kingman a major shareholder for Carillion and who run one of Carillions pension schemes has been given the permanent Chair of UK Research and Innovation. He was previously interim Chair.

Jobs for the boys and more pats on the back from the government for ruining so many working class lives.
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Kingman isn’t and wasn’t a personal shareholder in Carillion though was he.

Can you tell the group what Kingman has done badly or why he wasn’t the best candidate for the role?

Used to work as Gordon Brown’s Secretary and then was given a top job by Labour’s Chancellor Alistair Darling no? His CV is rather impressive isn’t it? He’s liked by both sides of the house despite being a Labour Man.

I have a feeling you read one ‘article’ and posted half arsed.

Also can you provide evidence he ‘ran’ one of the Carillion pension schemes as I can’t find him registered as a trustee.

How has he ruined any working class lives,just out of interest?

Other than that, great post.
 
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Chippy_boy said:
Businesses usually go under because they run out of cash. New contracts = more revenue = more free cash flow. Losses are fine provided you have the backing and the necessary free cash.

It's not as straightforward as people seem to think. Who knows which contracts were / were not profitable. And who knows what the business plans were. Maybe winning contracts at loss-leading prices was part of the strategy? I have no idea, and I doubt anyone else on here has either.
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th cash flow problems

So your anti-Corbyn thing was just being anti-Corbyn? You criticised him for saying it was a mistake for the government to keep giving loss-leading contracts to a firm with cashflow problems.
 
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