Concretejim:
Didnt they win the hs2 contract a few months. Do people not check there liquidity when awarding big contracts.
Depends on what palm grease they used [emoji6]
muckles:
mardybum:
Sorry, I got it all wrong…£1.5 BILLION in the RED
You were sort of right first time as well.
£900 million in debt + £600 million pensions deficit.
Yet another company that’s dipped into the pension fund in an attempt to hide the mismanagement of the top dogs. That pension fund isn’t theirs, it belongs to the employees who’ve paid into it. However, just like ‘Sir’ Philip Green, I doubt very much that the people responsible will be held to account much less get to wear a stripey suit.
Captain Caveman 76:
muckles:
mardybum:
Sorry, I got it all wrong…£1.5 BILLION in the RED
You were sort of right first time as well.
£900 million in debt + £600 million pensions deficit.Yet another company that’s dipped into the pension fund in an attempt to hide the mismanagement of the top dogs. That pension fund isn’t theirs, it belongs to the employees who’ve paid into it. However, just like ‘Sir’ Philip Green, I doubt very much that the people responsible will be held to account much less get to wear a stripey suit.
Bizarrely the Chairman of Carrilion is called Philip Green, but I don’t think it’s the infamous Philip Green of BHS.
I lost interest in them when Fish left, though ‘Brave’ is an outstanding piece of work.
blue estate:
Depends on what palm grease they used
Surely that only happens in other countries 
I mean we’re British you know, would never ever happen in good old Blighty . . . never . . . ever
Another example of what happens when you involve big business in government contracts, it goes pop and we the taxpayer pick up the bill, in this case £600-800 million for the pension fund alone all the work is now going to be paid for by us, and lots of contractors are going to be ruined.
Not to worry, its somebody else’s money.
yourhavingalarf:
Bully’s…
Hopefully not.
There’s likely many drivers on TNUK who are working on Carillion contracts. They may not be direct employees but if any existing construction and maintenance work has new contractors and then new subcontractors many could see changes soon.
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I deliver to Carillion rail depots regularly and the amount of money that is thrown away is criminal, ten and twelve hour shifts for six or seven worked is common and the offices are deserted after about two o clock. Is the "borrowing " of 600 million from the pension fund not fraud or theft or will it just be an accounting error?
mike68:
Another example of what happens when you involve big business in government contracts, it goes pop and we the taxpayer pick up the bill, in this case £600-800 million for the pension fund alone all the work is now going to be paid for by us, and lots of contractors are going to be ruined.Not to worry, its somebody else’s money.
privatise the profits nationalise the debt and yet again the fat cats walk away laughing
You can bet your bottom dollar that the fat cats all got there bonuses last year.
Its a public sector organisation in all but name only,and as such, has no idea about commercial reality.
Concretejim:
You can bet your bottom dollar that the fat cats all got there bonuses last year.
In too many big outfits,as already said, management get reward for short term planning. Giving share holders profits results in more for management. Then a couple of years later collapse.
Their are schemes where senior management get bonuses invested but only receive them a few years after they’ve been earnt, if nowt goes wrong. Dunno if that applies here?
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Management may not be getting their bonuses. Apparently, and I can’t find the article I read it in now, but they’re being investigated for moving as much as £4 MILLION to cover management bonuses.
They’ve been failing for years, look at the projects where they’ve lost MILLIONS due to poor planning, poor construction work and bidding for contracts that they can’t complete.
Sad news that 20,000 won’t be getting the pension they’ve been putting in to.
Overnight the government have said that all public sector contracts will be honoured from yesterday. Payment will be made to the Liquidator so he can pay the contractor. All payments for works carried out by the contractor before Carillion’s liquidation should be addressed to the Liquidator so as to go through the system ie 5p in the £ in about five years time.
All private contracts are to be dealt with by the contract provider. So merely a matter of finding a contractor - who will want it on a no risk basis at enhanced rates.
muckles:
Bizarrely the Chairman of Carrilion is called Philip Green, but I don’t think it’s the infamous Philip Green of BHS.
I though the frontman was a guy called Fish 
peirre:
muckles:
Bizarrely the Chairman of Carrilion is called Philip Green, but I don’t think it’s the infamous Philip Green of BHS.I though the frontman was a guy called Fish
No he left back in the 80’s, after that it would seem they found it difficult to regain the success they had with Fish at the front, so moved into construction. 
mike68:
Another example of what happens when you involve big business in government contracts, it goes pop and we the taxpayer pick up the bill, in this case £600-800 million for the pension fund alone all the work is now going to be paid for by us, and lots of contractors are going to be ruined.Not to worry, its somebody else’s money.
The work was already being paid for by us, as were the bonuses paid to the senior mangement and directors.
Stanley Knife:
Overnight the government have said that all public sector contracts will be honoured from yesterday. Payment will be made to the Liquidator so he can pay the contractor. All payments for works carried out by the contractor before Carillion’s liquidation should be addressed to the Liquidator so as to go through the system ie 5p in the £ in about five years time.All private contracts are to be dealt with by the contract provider. So merely a matter of finding a contractor - who will want it on a no risk basis at enhanced rates.
.
The vultures are already circling, amey,Wimpey, Mcalpine, and serco, will pick all the best between them, pretending to"help" the government out for a larger rate on said jobs.
RBS should be forced to bail them out.
Beetlejuice:
RBS should be forced to bail them out.
I believe the UK government, therefore us, still own a large stake in RBS, so we’d be doing ourselves in if it were to run into difficultly bailing out a failing company, at very least it will devalue the bank and therefore our shareholding, which the government want to sell in the near future, although it seems to want to sell it at a loss, no doubt to be picked up by their friends in the financial services industry.