HS2 construction giant Carillion goes into Liquidation

[arista]

[Carillion could crash into administration
as soon as Monday if the Government
does not back a rescue plan,
Government officials and regulators
met on Friday to discuss how to
safeguard the interests of more
than 28,000 pension scheme members
who could face cuts to retirement
payments if Carillion does not survive.
Senior civil servants from the
Cabinet Office attended an emergency
summit that included representatives
from The Pensions Regulator (TPR),
Pension Protection Fund (PPF),
Carillion's pension trustees and
an assortment of City advisers.]

https://e3.365dm.com/17/07/1096x616/a9a72142becdfe186078b63e2775aa1a51b25da963e717d167 a40b1833ef368c_4003619.jpg?bypass-service-worker&20170717084838


This has been on all news.
https://news.sky.com/story/carillion-teeters-on-brink-as-board-eyes-last-ditch-rescue-plan-11205705

[Kizzy]

Yey! finally the proof that venture capitalism doesn't work we've outsourced ourselves into oblivion.... Well done tory basts what are you going to do now, set us up as the money laundering, tax haven, nuclear, frackfest dumping ground for China and co?

Oh you are?... Champion :/

[DemolitionRed]

Yey! finally the proof that venture capitalism doesn't work we've outsourced ourselves into oblivion.... Well done tory basts what are you going to do now, set us up as the money laundering, tax haven, nuclear, frackfest dumping ground for China and co?

Oh you are?... Champion :/

Lets watch the public bail them out :fist:

This is a good example that nationalizing the losses and privatizing the profits doesn't work.

[Kizzy]

The bluest of Mondays... Well done you parasitic tory twunts you finally bled the country dry!!


The proverbial shiz has hit the fan, brace yourself for the next recession.

'It recorded a more than £1.4bn loss during the first half of its financial year and the departure of its chief executive last year also contributed to a major investor exodus, sending shares plummeting from around 230 pence a year ago to just over 14 pence at Friday's market close.

Carillion employs some 46,000 people worldwide, of which 20,000 are in the UK, and holds major contracts for HS2, prisons, the NHS and the armed forces.'

My opinion is that investors are no longer interested in the UK due to our status as a stand alone country alongside an ineffective shambolic government.
I dread to think what the ramifications of this will be :/

http://www.independent.co.uk/news/uk/home-news/carillion-latest-compulsory-liquidation-contractor-prisons-hs2-united-kingdom-a8159326.html

[arista]

https://news.sky.com/story/live-ailing-construction-giant-carillion-enters-into-liquidation-11208600

Carillion workers assured 'you will be paid'

[DemolitionRed]

The bluest of Mondays... Well done you parasitic tory twunts you finally bled the country dry!!


The proverbial shiz has hit the fan, brace yourself for the next recession.

'It recorded a more than £1.4bn loss during the first half of its financial year and the departure of its chief executive last year also contributed to a major investor exodus, sending shares plummeting from around 230 pence a year ago to just over 14 pence at Friday's market close.

Carillion employs some 46,000 people worldwide, of which 20,000 are in the UK, and holds major contracts for HS2, prisons, the NHS and the armed forces.'

My opinion is that investors are no longer interested in the UK due to our status as a stand alone country alongside an ineffective shambolic government.
I dread to think what the ramifications of this will be :/

http://www.independent.co.uk/news/uk/home-news/carillion-latest-compulsory-liquidation-contractor-prisons-hs2-united-kingdom-a8159326.html


Some interesting views from some economists http://stateofnatureblog.com/one-question-economic-crash/

[Kizzy]

w7av_K5enbM

[Livia]

I've rarely seen so much excitement and air-punching over so many people losing their jobs, then flooding the job market and consequently bringing down the price of those skills. But if it reinforces someone's political agenda, I suppose you could even spin this to make it look like a little victory.

[DemolitionRed]

I've rarely seen so much excitement and air-punching over so many people losing their jobs, then flooding the job market and consequently bringing down the price of those skills. But if it reinforces someone's political agenda, I suppose you could even spin this to make it look like a little victory.

Who is excited about the workers losing their jobs? This isn't about the Carillion suppliers that could be driven under if they aren't paid or the workers who were told to go home or the shareholders who were given remarkably little information. This is about hedge funds who were convinced the company was in trouble.... 18 hedge funds that made £80m from the initial share slump. Its about Marshall Wace and BlackRock, the US-based investment institution that hired former chancellor George Osborne as an adviser last year, on a £650,000 salary. Its about wealth shuffling and the lies that were dished out in July of last year. Its about Carillion still being able to buy public sector contracts when clearly it was about to hit the wall. This is about corporate governance regulations being so lax and how senior executives will walk away from this unscathed.

I love the way you have just tried to turn this round to suggest our concerns about what has just happened are somehow mocking the poor souls who are going to walk away from this jobless, moneyless and possibly homeless.

You added zilch to the topic other than mock those of us talking about it.

[arista]

The Former Director
has had his Bonus Stopped for good.

https://news.sky.com/story/carillion-directors-bonus-payments-stopped-11211292

[Kizzy]

I've rarely seen so much excitement and air-punching over so many people losing their jobs, then flooding the job market and consequently bringing down the price of those skills. But if it reinforces someone's political agenda, I suppose you could even spin this to make it look like a little victory.

Air punching, who on earth is doing that? Again these imaginary scenarios you play out in your head have no basis in reality but never mind here's a dose of reality for you... Enjoy.

https://www.theguardian.com/politics/2018/jan/18/taxpayers-to-foot-200bn-bill-for-pfi-contracts-audit-office

[Livia]

Who is excited about the workers losing their jobs? This isn't about the Carillion suppliers that could be driven under if they aren't paid or the workers who were told to go home or the shareholders who were given remarkably little information. This is about hedge funds who were convinced the company was in trouble.... 18 hedge funds that made £80m from the initial share slump. Its about Marshall Wace and BlackRock, the US-based investment institution that hired former chancellor George Osborne as an adviser last year, on a £650,000 salary. Its about wealth shuffling and the lies that were dished out in July of last year. Its about Carillion still being able to buy public sector contracts when clearly it was about to hit the wall. This is about corporate governance regulations being so lax and how senior executives will walk away from this unscathed.

I love the way you have just tried to turn this round to suggest our concerns about what has just happened are somehow mocking the poor souls who are going to walk away from this jobless, moneyless and possibly homeless.

You added zilch to the topic other than mock those of us talking about it.

If I add so little to topics, stop replying to me, rather than wade in with the tedious accusations.

[Livia]

Yey! finally the proof that venture capitalism doesn't work we've outsourced ourselves into oblivion.... Well done tory basts what are you going to do now, set us up as the money laundering, tax haven, nuclear, frackfest dumping ground for China and co?

Oh you are?... Champion :/

Air punching, who on earth is doing that? Again these imaginary scenarios you play out in your head have no basis in reality but never mind here's a dose of reality for you... Enjoy.



See your first post? It starts "Yay!".

Are you going to accuse me of mental illness like I've just seen you do on another thread? I read your first post and you are thrilled that this has happened. If not, you need to work on your composition.

[joeysteele]

Air punching, who on earth is doing that? Again these imaginary scenarios you play out in your head have no basis in reality but never mind here's a dose of reality for you... Enjoy.

https://www.theguardian.com/politics/2018/jan/18/taxpayers-to-foot-200bn-bill-for-pfi-contracts-audit-office

I saw your Yay as not a celebration of the chaos to come from this but the fact that it helps to indicate the problems with the capitalist argument at times.

This awful failure, leaves a lot of questions for this govt.and Chris Grayling to answer,truthfully and seriously,without fudge or deceit.

Don't be surprised Kizzy that you will get derided on any small point while it gets avoided to actually detail the incompetence and failure of this company,and also more worrying this govt.which has ignored it appears serious warnings and concerns as to said Company.

[Kizzy]

See your first post? It starts "Yay!".

Are you going to accuse me of mental illness like I've just seen you do on another thread? I read your first post and you are thrilled that this has happened. If not, you need to work on your composition.

And you need to learn not to take metaphorical language so literally.

[Kizzy]

I saw your Yay as not a celebration of the chaos to come from this but the fact that it helps to indicate the problems with the capitalist argument at times.

This awful failure, leaves a lot of questions for this govt.and Chris Grayling to answer,truthfully and seriously,without fudge or deceit.

Don't be surprised Kizzy that you will get derided on any small point while it gets avoided to actually detail the incompetence and failure of this company,and also more worrying this govt.which has ignored it appears serious warnings and concerns as to said Company.

Thank you Joey, I fully expect some irrelevant nit picking as like you say it avoids confronting the real issue.
The tax payer will pick up the tab for these failed projects to the tune of £200 billion, how is there a defence for that?

[DemolitionRed]

If I add so little to topics, stop replying to me, rather than wade in with the tedious accusations.

You're the one waded in with snarky accusations! and I'll reply to you're sarcasms whenever I want.

[joeysteele]

The Former Director
has had his Bonus Stopped for good.

https://news.sky.com/story/carillion-directors-bonus-payments-stopped-11211292

Good move, endless more needed.
Glad a fuss was made to ensure this bonus was stopped.

[DemolitionRed]

Thank you Joey, I fully expect some irrelevant nit picking as like you say it avoids confronting the real issue.
The tax payer will pick up the tab for these failed projects to the tune of £200 billion, how is there a defence for that?

Absolutely.

When a government puts its obligations to the public on limited companies and allows companies like Carillion to put its snouts in the government trough, the long term costs are this. And whilst the government has allowed Carillion to hit the wall, it still has to service the debt or rather the public do for of lost pensions, unemployment and the loss of provisions.

I think we can safely predict this to be the first of many. I’ll hedge my bets that the next to hit the wall will be a big retailer. Look out for the 1st of April when quarterly rents are due.

[jet]

Yey! finally the proof that venture capitalism doesn't work :/

Yey?

Sounds like glee to me. Why wouldn't you want it to work if it meant all those people will lose their jobs?
Now, if you'd said something like 'oh no, this is what I was afraid of' I'd believe you cared about people and not just about being seen as right.

[Tom4784]

Terrible news but not unexpected, The tories have been marching us down the path of another recession for years, this is just going to speed up the process.

I've rarely seen so much excitement and air-punching over so many people losing their jobs, then flooding the job market and consequently bringing down the price of those skills. But if it reinforces someone's political agenda, I suppose you could even spin this to make it look like a little victory.

But isn't this post just feigning sympathy for the people who lost their jobs in order to push your own agenda of 'I hate Kizzy?'

If you are going to criticise someone for saying 'yay' without paying attention to it's context then what does that mean for you considering you are using this apparent job losses as an excuse to try and get one over on Kizzy? You are doing what you claim Kizzy is doing except your agenda is not politcal but personal and your comments aren't being taken out of context either.

[Kizzy]

Yey?

Sounds like glee to me. Why wouldn't you want it to work if it meant all those people will lose their jobs?
Now, if you'd said something like 'oh no, this is what I was afraid of' I'd believe you cared about people and not just about being seen as right.

I have addressed this point, stick to the topic instead of trying to assign inference to my comment please.

[AnnieK]

I have spoken to many, many Carillion workers over the last few days who are desperately looking for new roles. On my LinkedIn network, there are offers of help to them from companies, agencies alike and that is heartening to see, the desperation from some of the people I have spoken to is heartbreaking, it is still early days for them but panic has set in.

Whatever way this is spun, once again the losers are the workers who have put an honest days work in for an honest days pay, I don't really care what the government / investors / etc etc has or hasn't done, my immediate concern is with the 1000s of families now and hope there is some way in which they don't get added to the bottom of the list when sorting the cluster **** out

[Kizzy]

Terrible news but not unexpected, The tories have been marching us down the path of another recession for years, this is just going to speed up the process.



But isn't this post just feigning sympathy for the people who lost their jobs in order to push your own agenda of 'I hate Kizzy?'

If you are going to criticise someone for saying 'yay' without paying attention to it's context then what does that mean for you considering you are using this apparent job losses as an excuse to try and get one over on Kizzy? You are doing what you claim Kizzy is doing except your agenda is not politcal but personal and your comments aren't being taken out of context either.

Thanks, pretty much immune to these gaslighting techniques now though,for clarification if anything the use of the now controversial 'yey' was in the vain hope that it had opened the eyes of some to the dodgy dealings of recent govts decisions, that have jeopardised so many jobs and cost the country so much which is why it was accompanied with this face :/
How on earth could anyone misinterpret that? :laugh:

[Kizzy]

I have spoken to many, many Carillion workers over the last few days who are desperately looking for new roles. On my LinkedIn network, there are offers of help to them from companies, agencies alike and that is heartening to see, the desperation from some of the people I have spoken to is heartbreaking, it is still early days for them but panic has set in.

Whatever way this is spun, once again the losers are the workers who have put an honest days work in for an honest days pay, I don't really care what the government / investors / etc etc has or hasn't done, my immediate concern is with the 1000s of families now and hope there is some way in which they don't get added to the bottom of the list when sorting the cluster **** out

Of course it has homes will be at risk, most of us are only 3 wage slips from oblivion as it is... This is a national scandal and as per the attempt is to sweep it under the carpet, avoid accountability and as seen on PMQs attempt to blame Leeds city council! As chunkymark would say, YOU WHAT!!??

[jet]

Thanks, pretty much immune to these gaslighting techniques now though,for clarification if anything the use of the now controversial 'yey' was in the vain hope that it had opened the eyes of some to the dodgy dealings of recent govts decisions, that have jeopardised so many jobs and cost the country so much which is why it was accompanied with this face :/
How on earth could anyone misinterpret that? :laugh:

Oh give over trying to justify your slip up. :hee:

[Livia]

But isn't this post just feigning sympathy for the people who lost their jobs in order to push your own agenda of 'I hate Kizzy?'

If you are going to criticise someone for saying 'yay' without paying attention to it's context then what does that mean for you considering you are using this apparent job losses as an excuse to try and get one over on Kizzy? You are doing what you claim Kizzy is doing except your agenda is not politcal but personal and your comments aren't being taken out of context either.

That's the way you interpreted my post and you have taken it out of context . The fact is I AM concerned about the people who'll lose their jobs, the businesses that will go under because they haven't been paid, all the people who are stressing right now about their futures while the bosses of this company are still being paid their inflated salaries and bonuses. That's my context. The fact that I don't like Kizzy is neither here nor there. Had anyone posted a "Yay" post I'd have said exactly the same thing. And I stand by that.

[Kizzy]

Oh give over trying to justify your slip up. :hee:

Give over baiting and stick to the topic.

[Kizzy]

That's the way you interpreted my post and you have taken it out of context . The fact is I AM concerned about the people who'll lose their jobs, the businesses that will go under because they haven't been paid, all the people who are stressing right now about their futures while the bosses of this company are still being paid their inflated salaries and bonuses. That's my context. The fact that I don't like Kizzy is neither here nor there. Had anyone posted a "Yay" post I'd have said exactly the same thing. And I stand by that.

How rude, you don't know me Livia.

[Livia]

How rude, you don't know me Livia.

You don't know, or like me either. It is what it is.

[Kizzy]

You don't know, or like me either. It is what it is.

I don't agree with your views on many things I don't however allow that to colour my thinking and reaction to every single topic!

[Livia]

I don't agree with your views on many things I don't however allow that to colour my thinking and reaction to every single topic!

Right.

Like I said, I'll only respond in future if you quote me. I just want to have a laugh on here, not a battle.

[joeysteele]

Of course it has homes will be at risk, most of us are only 3 wage slips from oblivion as it is... This is a national scandal and as per the attempt is to sweep it under the carpet, avoid accountability and as seen on PMQs attempt to blame Leeds city council! As chunkymark would say, YOU WHAT!!??

Deflection is an art for politicians.
However Leeds council DIDN'T sign any contract with them as Corbyn stated when Mrs May tried to deflect from truth to cover her own govts. ineptitude.

Well done to you for how you deal with such deflections too Kizzy.
I think it very revealing when attacks on a person are made rather than who or what are really to blame.
Good for you and all well said by you too.

[Kizzy]

Right.

Like I said, I'll only respond in future if you quote me. I just want to have a laugh on here, not a battle.

Great, that's not the impression I get from this thread but if that's how you see it that's totally fine by me.

[DemolitionRed]

I have spoken to many, many Carillion workers over the last few days who are desperately looking for new roles. On my LinkedIn network, there are offers of help to them from companies, agencies alike and that is heartening to see, the desperation from some of the people I have spoken to is heartbreaking, it is still early days for them but panic has set in.

Whatever way this is spun, once again the losers are the workers who have put an honest days work in for an honest days pay, I don't really care what the government / investors / etc etc has or hasn't done, my immediate concern is with the 1000s of families now and hope there is some way in which they don't get added to the bottom of the list when sorting the cluster **** out

I think we have to consider both sides to this coin.

Yes, its terrible for the workers, though the contracts will be put out to tender and the likelihood of continuing within another company on a familiar project is quite high.
Different for the pensioners. All this limited liability has made sure they are going to suffer the consequences.

The other side of the coin is the corruption and that is something we should all be taking seriously because its not just Carillion that are setting up vast business empires on limited liability. The more our government encourages unfettered markets, the more we move away from being a democratic country. Democracy requires rules and guidelines that restrict the power of money. If they don't do that, then its open to corruption and with corruption comes stagnation and economy crashes. Carillion just fell out of the void thats been created by neoliberalism, a government who has massive monopolies working for the few, not the many. Its important, crucial in fact that we understand why this happened and so although we could spend our time talking about all the poor sods caught up in the fallout, its not the only thing we should be discussing.

[DemolitionRed]

And Kizzy, thank you for bringing this topic up on here, though its sad it can't be discussed without you being 'once again' attacked. I'm so sick of seeing people on here baying for your blood when all you are attempting to do is put your views forward and you do that with intelligence btw. I, like Joey, have your back (though I know your a toughie and don't need us!) You are a lot more restrained than I am but that's why I sometimes have to take a break from this place... it gets depressing.