Carillion
#1
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Carillion
Hope nobody out here is affected by this.
Wonder if the AF link will help them here?
Mental that it's liquidation not administration. Shows how deep the problems go.
Wonder if the AF link will help them here?
Mental that it's liquidation not administration. Shows how deep the problems go.
#2
Re: Carillion
Scrap all that - just read the BB news !
Last edited by UKCityGent; Jan 15th 2018 at 7:27 am.
#3
Re: Carillion
tough reading but good to see the government let it go.
My guess is that it would have been the pensions shortfall that killed it, not the lenders.
My guess is that it would have been the pensions shortfall that killed it, not the lenders.
#4
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Re: Carillion
Hows the future looking for them ?
It is a case of being bailed out by the UK Government especially since many of their large projects are for them ?
Maybe worth taking a punt - esp if they have a market cap at $61m (if you close the eyes that they have $1.5bn of liabilities!)
It is a case of being bailed out by the UK Government especially since many of their large projects are for them ?
Maybe worth taking a punt - esp if they have a market cap at $61m (if you close the eyes that they have $1.5bn of liabilities!)
#5
Re: Carillion
Bernard Jenkin, the Conservative chairman of the House of Commons Public Administration Committee, said Carillion's collapse "really shakes public confidence in the ability of the private sector to deliver public services and infrastructure".
He said there needed to be a change of "mindset" at companies that do a lot of work for the taxpayer.
"You've got to treat yourself much more as a branch of the public service, not as a private company just there to enrich the shareholders and the directors," he said.
Rehana Azam, national officer of the GMB union, said: "What's happening with Carillion yet again shows the perils of allowing privatisation to run rampant in our schools, our hospitals and our prisons."
Those two quotes stuck out for me.
He said there needed to be a change of "mindset" at companies that do a lot of work for the taxpayer.
"You've got to treat yourself much more as a branch of the public service, not as a private company just there to enrich the shareholders and the directors," he said.
Rehana Azam, national officer of the GMB union, said: "What's happening with Carillion yet again shows the perils of allowing privatisation to run rampant in our schools, our hospitals and our prisons."
Those two quotes stuck out for me.
#6
Re: Carillion
Bernard Jenkin, the Conservative chairman of the House of Commons Public Administration Committee, said Carillion's collapse "really shakes public confidence in the ability of the private sector to deliver public services and infrastructure".
He said there needed to be a change of "mindset" at companies that do a lot of work for the taxpayer.
"You've got to treat yourself much more as a branch of the public service, not as a private company just there to enrich the shareholders and the directors," he said.
Rehana Azam, national officer of the GMB union, said: "What's happening with Carillion yet again shows the perils of allowing privatisation to run rampant in our schools, our hospitals and our prisons."
Those two quotes stuck out for me.
He said there needed to be a change of "mindset" at companies that do a lot of work for the taxpayer.
"You've got to treat yourself much more as a branch of the public service, not as a private company just there to enrich the shareholders and the directors," he said.
Rehana Azam, national officer of the GMB union, said: "What's happening with Carillion yet again shows the perils of allowing privatisation to run rampant in our schools, our hospitals and our prisons."
Those two quotes stuck out for me.
#9
Re: Carillion
Major involvement in Expo 20/20 . They've committed to delivering a massive slice.
Good luck with that , interesting situation as I'm led to believe the UK finance initiative was paramount in this.
Good luck with that , interesting situation as I'm led to believe the UK finance initiative was paramount in this.
#10
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Re: Carillion
Although the export finance credits helped perhaps to secure the work, the UK did a bit of a u-turn from what I understand and not a huge amount of funding came from it in the end. In fact, barely any.
We're working with them out here on a few things.
#11
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Joined: May 2017
Posts: 198
Re: Carillion
This goes back to September but it's reassuring to know provisions were being made to keep money with those that earned it.
Carillion protected bosses’ £4m bonuses before crisis | This is Money
A great day for all those that made an estimated £80m from shorting stock too.
Carillion protected bosses’ £4m bonuses before crisis | This is Money
A great day for all those that made an estimated £80m from shorting stock too.
#12
Re: Carillion
I just find all political point scoring when something like this happens to be a bit tragic.
Exactly.
Although the export finance credits helped perhaps to secure the work, the UK did a bit of a u-turn from what I understand and not a huge amount of funding came from it in the end. In fact, barely any.
We're working with them out here on a few things.
Exactly.
Although the export finance credits helped perhaps to secure the work, the UK did a bit of a u-turn from what I understand and not a huge amount of funding came from it in the end. In fact, barely any.
We're working with them out here on a few things.
Many contractors walked away from it because of the size/delivery programme and wanted it split up but Carillion took the full package of that contract and committed to delivering.
The cash has got to come from somewhere
#14
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Re: Carillion
I'm not sure how their ME business is set up and how it is now with AF but the amount of work they have to deliver up on Expo is massive .
Many contractors walked away from it because of the size/delivery programme and wanted it split up but Carillion took the full package of that contract and committed to delivering.
The cash has got to come from somewhere
Many contractors walked away from it because of the size/delivery programme and wanted it split up but Carillion took the full package of that contract and committed to delivering.
The cash has got to come from somewhere
4x more than Expo was suggested for the new airport by the UK export finance.
What I heard was they pulled out of the deal in the end because the client here would be disbanded and nobody else wanted to take the terms of the agreement on.
I suppose you should probably chastise EY as well for not liquidating them for free?
#15
Re: Carillion
Massive doesn't cover it even, it's unreal how much they have up there. 24/7 is happening.
4x more than Expo was suggested for the new airport by the UK export finance.
What I heard was they pulled out of the deal in the end because the client here would be disbanded and nobody else wanted to take the terms of the agreement on.
I suppose you should probably chastise EY as well for not liquidating them for free?
4x more than Expo was suggested for the new airport by the UK export finance.
What I heard was they pulled out of the deal in the end because the client here would be disbanded and nobody else wanted to take the terms of the agreement on.
I suppose you should probably chastise EY as well for not liquidating them for free?
Export finance is always tricky, great though it is.