Anna B Posted January 16, 2018 Share Posted January 16, 2018 (edited) Oh look. http://www.bbc.co.uk/news/business-42703549 Think they are getting away with it? ---------- Post added 16-01-2018 at 12:24 ---------- Thats not excessive. Green is making less from Carillion than I get paid for example and I'm not looking after a company with 40k employees... Adam is making a bit more than me, but not that much. Being investigated is surely a must. However I'm not holding my breath that anything will come of it other than of course 'lessons will be learned.' Yet there was a professor ? on the lunchtime news saying that he and his colleagues had been warning about this for over a year, and had recommended a system that could be put in place that would reduce this very risk. But of course he was ignored. Meanwhile, the Directors introduced new rules protecting bosses pay and bonuses in the run up to its collapse: ' 'Before 2016 bosses could be forced to hand back their annual bonuses and share awards in 'circumstances of Corporate failure' however, in the 2016 annual report 'The firm changed the wording of the pay policy to apparently make it harder for investors to claw back the money even if the company went under' So that's alright then. And **** the thousands of little businesses who are going to go bust, and the thousands of workers whose jobs and pensions have been compromised. As long as the fat cats get their money everything's cushty. Edited January 16, 2018 by Anna B Link to comment Share on other sites More sharing options...
Obelix Posted January 16, 2018 Share Posted January 16, 2018 Being investigated is surely a must. However I'm not holding my breath that anything will come of it other than 'lessons will be learned.' Yet there was a professor ? on the lunchtime news saying that he and his colleagues had been warning about this for over a year, and had recommended a system that could be put in place that would reduce this very risk. But of course he was ignored. Meanwhile, they introduced new rules protecting bosses pay and bonuses in the run up to its collapse: ' 'Before 2016 bosses could be forced to hand back their annual bonuses and share awards in 'circumstances of Corporate failure' however, 'The firm changed the wording of the pay policy to apparently make it harder for investors to claw back the money even if the company went under' So that's alright then. And **** the thousands of little businesses who are going to go bust, and the thousands of workers whose jobs and pensions have been compromised. You see if you didnt engage in hyperbole Anna.... thousands of businesses really? All going bankrupt? So they were poorly managed then... best hang the directors now right... Or is it different rules for them little ones rather than the big ones? Link to comment Share on other sites More sharing options...
truman Posted January 16, 2018 Share Posted January 16, 2018 Being investigated is surely a must. However I'm not holding my breath that anything will come of it other than 'lessons will be learned.' Yet there was a professor ? on the lunchtime news saying that he and his colleagues had been warning about this for over a year, and had recommended a system that could be put in place that would reduce this very risk. But of course he was ignored. Meanwhile, they introduced new rules protecting bosses pay and bonuses in the run up to its collapse: ' 'Before 2016 bosses could be forced to hand back their annual bonuses and share awards in 'circumstances of Corporate failure' however, in the 2016 annual report 'The firm changed the wording of the pay policy to apparently make it harder for investors to claw back the money even if the company went under' So that's alright then. And **** the thousands of little businesses who are going to go bust, and the thousands of workers whose jobs and pensions have been compromised. Don't you reckon that the large projects Carillion were involved in will continue but with A.N.Other company(ies) doing the work? Or will there be no more school meals,hospitals built,railways maintained etcetc? Link to comment Share on other sites More sharing options...
Anna B Posted January 16, 2018 Share Posted January 16, 2018 Don't you reckon that the large projects Carillion were involved in will continue but with A.N.Other company(ies) doing the work? Or will there be no more school meals,hospitals built,railways maintained etcetc? I'm sure they will carry on with new management, but there are going to be loads of small suppliers, services etc who aren't going to get paid. And for them it's going to be the difference between surviving or going under. With the consequent job losses. There's a hole of more than £1 billion. Who is going to plug that, if the long suffering tax payer doesn't? Link to comment Share on other sites More sharing options...
Obelix Posted January 16, 2018 Share Posted January 16, 2018 Have you looked at the sort of PFI contracts that were awarded Anna? When you do - you realise why that hole isnt a problem for PFI because it largely isnt there.... Link to comment Share on other sites More sharing options...
taxman Posted January 16, 2018 Share Posted January 16, 2018 I notice the Directors and board seem to be keeping a low profile at the moment, as well as those on it's remuneration committee who changed the rules so that executive bonuses couldn't be clawed back. Link to comment Share on other sites More sharing options...
Cyclone Posted January 16, 2018 Share Posted January 16, 2018 You see if you didnt engage in hyperbole Anna.... thousands of businesses really? All going bankrupt? So they were poorly managed then... best hang the directors now right... Or is it different rules for them little ones rather than the big ones? Unite also expressed concern about the impact on the wider supply chain, warning that many small firms were now at serious risk of collapse. One industry group estimates that up to 30,000 firms are owed money by Carillion. It has debts of about £1bn and a £600m pension deficit, and is being investigated by the Financial Conduct Authority over announcements made between December 2016 and July 2017. So yeah, thousands of businesses. And having months of invoices suddenly go unpaid by a huge company is hardly the fault of the small businesses is it? ---------- Post added 16-01-2018 at 17:59 ---------- You see if you didnt engage in hyperbole Anna.... thousands of businesses really? All going bankrupt? So they were poorly managed then... best hang the directors now right... Or is it different rules for them little ones rather than the big ones? And going bust is one thing, going bust with a massive hole in the pension scheme is quite another. Link to comment Share on other sites More sharing options...
melthebell Posted January 16, 2018 Share Posted January 16, 2018 And going bust is one thing, going bust with a massive hole in the pension scheme is quite another. Seems to be a Phillip Green speciality that lol and whats your party trick sir...oh i can make cash vanish out of pension pots Link to comment Share on other sites More sharing options...
I1L2T3 Posted January 16, 2018 Share Posted January 16, 2018 If I wasn’t half suspecting what was going on anyway then the news coming out hour by hour would be gobsmacking. We are looking at corruption on a grand scale, with active collusion from politicians. Link to comment Share on other sites More sharing options...
Anna B Posted January 16, 2018 Share Posted January 16, 2018 If I wasn’t half suspecting what was going on anyway then the news coming out hour by hour would be gobsmacking. We are looking at corruption on a grand scale, with active collusion from politicians. Well, that's a surprise.... What will be more suprising is if any of them end up in clink. Link to comment Share on other sites More sharing options...
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