Carillion another gov bail out?

[iansheff]

That's pretty much what the 'Professor' I mentioned earlier was saying. They could see this situation coming before it reached crisis level and suggested a scheme similar to pay as you go to avert a disaster, but the government didn't act.

 

I wonder if the government will dare to trip out the same excuse as after the banking crash; 'It took us by surprise. Nobody could see it coming...'

 

Read yesterday that Carillion had been in talks with the Government since October, so they cant say it was a surprise unless they have been negligent and ignored the warnings.

[nightrider]

Read yesterday that Carillion had been in talks with the Government since October, so they cant say it was a surprise unless they have been negligent and ignored the warnings.

 

They had at least 3 profit warnings I believe, and have had large fractions of their shares shorted by hedge funds for a number of years.

[melthebell]

Thousands are going to go bust - which was what Anna said. I don't doubt there are five figures of suppliers, but unless they are spectacularly badly managed they shouldnt go bust.

One smaller company on the news last night was owed a million pounds by em, not many small companies have say a million pounds they can just......forget about.

They got rid of the 2 office staff that day in tears, needed the frontline staff to do the work if it comes in

[Obelix]

That's one of the daftest things I've ever heard.

 

Small businesses have to start somewhere, they are vulnerable and many of these will not be able to stand the hit. Business depends on bills being paid, workers being paid, supplies being bought, etc. When they are not paid the chain breaks down. That is not bad management on their part, they have fulfilled their part of the bargain, it's the fault of Carillion at the top of the chain.

 

Oh there's no denying that some will have problems yes. But I dont think it's the apocalyptic vision you paint, no matter how much you fervently wish it were true Anna.

 

If you have a company and you are doing most of your business with one supplier or customer then that is a risk that you should not take on. That's basic business management whcih you seem to fail to grasp.

[ENG601PM]

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

 

There are two Philip Green's. Basic checks son, basic checks.

 

---------- Post added 17-01-2018 at 12:05 ----------

 

Basic checks are what caused this mess. Checks like that the clients aren't giving contracts to firms who submit tender prices under the cost of doing the work in the hope of making up the difference during the job.

 

This practice is rife, and every part of the public sector is as guilty as sin.

[Anna B]

Oh there's no denying that some will have problems yes. But I dont think it's the apocalyptic vision you paint, no matter how much you fervently wish it were true Anna.

 

If you have a company and you are doing most of your business with one supplier or customer then that is a risk that you should not take on. That's basic business management whcih you seem to fail to grasp.

 

Of course I don't wish it were true. There's a lot of hard working people going to suffer because of this. Why would I want that?

 

My argument is why the government think outsourcing public works is a good idea when it goes so spectacularly wrong so often. G4S, Capita, Virgin Stagecoach, etc to name a few. They are becoming a byword for incompetence and corruption, with the management getting massive payouts, bonuses etc. and the state subsidising the losses.

[melthebell]

There are two Philip Green's. Basic checks son, basic checks.

erm check what i wrote again, i KNOW theres two Phillip Greens, thats why i put "A" Phillip Green, NOT "THE" Phillip Green, losing pension pots seems to be the speciality that ALL Phillip Greens do.

[ENG601PM]

erm check what i wrote again, i KNOW theres two Phillip Greens, thats why i put "A" Phillip Green, NOT "THE" Phillip Green, losing pension pots seems to be the speciality that ALL Phillip Greens do.

 

Mel, son, that's not even A little bit convincing. Do yourself A favour. Have A bit of dignity.

[melthebell]

Mel, son, that's not even a little bit convincing. Do yourself a favour.

oh shush troll, always out to get one over on everybody else, yet wont admit when youre wrong.

EVERYBODY knows its a different Phillip Green, or should, he has a different face from the BHS furore LOL

[ENG601PM]

oh shush troll, always out to get one over on everybody else, yet wont admit when youre wrong.

EVERYBODY knows its a different Phillip Green, or should, he has a different face from the BHS furore LOL

 

Nope, still no dignity. You didn't know that there was a Philip Green at Carillion until Anna B mentioned it just before you.

 

But I don't need to tell YOU what EVERYBODY knows. LOL