Carillion hasn't been bailed out by the taxpayer though, it's gone into liquidation, it's shareholders wiped out and the banks taking a £2 billion hit, which is as it should be. That's how capitalism works, badly run, inefficient companies fail, better managed, more efficiently run companies survive and prosper. Balfour Beatty were in a similar position to Carillion three years ago, they turned it round, Carillion didn't.
I read in the news about a month ago that their share prices had dropped by 70% ,that's a hell of a drop and I wonder how many shareholders had jumped ship before it sank?
I used to dabble quite a bit in shares at the back end of the 90's Chalky, made a lot of money on most of them (more by luck than judgement), I used to listen to a guy in America who's name I forget and keep my eye on the Companies I invested in, if these share holders of Carilion could not see this coming months ago and didn't get out then I have very little sympathy for them, as they either have money they can lose or are just plain lazy by not doing diligent research.
A lot of companies in difficulty as a result of their invoices going unpaid. One family members employer is affected. When Jarvis went bust, they took that company with them
A lot of jobs still need to be done and Gov will pay for that rather than paying Carillon.
They were building the 2022 World Cup facilities in Qatar.
Interesting that a third of contracts were let by the Labour Government and in Scotland the SNP let quite a few too.
Carillion is a key supplier to the Scottish Government and has contracts in the rail industry, education and NHS.
In Scotland Carillion are involved in building the new Aberdeen bypass and the Edinburgh Waverley railway station revamp.
The £735m by pass was a big draw on funds.
So BT stop blaming Tories - were all in it together.
Last edited by oldcolner; 17-01-2018 at 02:09 PM.
No we are not! This PFI bollox needs stopping now. Enough is enough! Private enterprise within the paradigm of the public sector simply cannot work. Salaries of £600,000 per month for the Carillion fat cats and you say we are all in it together OC?
Try telling that to the underpaid, abused thousands who are now jobless and the creditors of the corrupt, robbing, thieving barstewards who ring fenced their own bonuses and salaries.
I tend to agree with your little rant BT, PFI debts are crippling the NHS, they're a scandal and a disgrace. But let's be clear where the blame lies, not in the private sector but with government, and especially the last Labour government, who used PFIs to keep billions of pounds of debt off the books, and were spectacularly incompetent negotiating the agreements and contracts.