Carillion

Discussion in 'Off Topic' started by Yazzie, Jan 13, 2018.

  1. Yazzie

    Yazzie Member

  2. had e nuff

    had e nuff Member

    Location:
    Durham
    Looks like us taxpayers will be bailing out a private company again like we did the banks.
     
    fredf and 7610 super q like this.
  3. Martin Holden

    Martin Holden Member

    Location:
    Cheltenham
    Carillion. They apparently claimed they are in debt due in part to loss making public contracts. If this is so, why take the contracts in the first place! I wonder how many sub contractors are unsecured creditors? The knock on reaction could be horrendous. It has the feeling of taking on far too many contracts with too low a margin threshold! That said, I wonder what the nett worth is compared to the current borrowings?
     
    Last edited: Jan 13, 2018
    multi power, AnyOldName and fredf like this.
  4. Yazzie

    Yazzie Member

    There is one thing the banks will be able to advise them exactly how to get taxpayers money and also build lots of bonus payments into the deal for themselves!
     
    AnyOldName and had e nuff like this.
  5. Carillon is MASSIVE.

    A huge company, and a nightmare to deal with...

    What's not mentioned is they look after a lot of infrastructure for the MOD too
     
  6. the orra loon

    the orra loon Member

    Location:
    Aberdeenshire
    Better not go bust before they finish the Aberdeen bypass (AWPR) the fekers. We have waited 30yrs for it!
     
  7. grainboy

    grainboy Member

    Location:
    Bedfordshire
    £1.5 billion of debts,
    Ouch !!!
     
  8. grainboy

    grainboy Member

    Location:
    Bedfordshire
    Never mind more work for Daughter 2,
    She works for EY, the receivers in waiting.
     
    JCMaloney and Bill the Bass like this.
  9. Exfarmer

    Exfarmer Member

    Location:
    Bury St Edmunds
    Pension problem again
     
    S J H likes this.
  10. colhonk

    colhonk Member

    Location:
    Darlington
    With a bit of luck it might stop the stupidity of spending Billions to get to Bimingham 30 mins quicker.
     
    Purli R, MrNoo, Green grower and 5 others like this.
  11. betweenthelines

    Location:
    southwest
     
  12. renewablejohn

    renewablejohn Member

    Location:
    lancs
    Used to be a good company Tarmac Construction when part of the Tarmac group on a tight reign. Shame the quality of management has not kept pace with the number of take overs.
     
  13. Vince Cable had a good line, comparing this prospective bail-out to the banks, 'profits privatised, losses nationalised.
     
    jendan, Deutzdx3, Courier and 3 others like this.
  14. Wombat

    Wombat Member

    Location:
    East yorks
    Everyone's a capitalist until things go wrong then everyone is suddenly a communist :)
     
  15. nick...

    nick... Member

    Location:
    south norfolk
    These are a firm who employ thousands through agency's.the workers don't get paid by the agency's because carrillion don't pay the agency's regularly enough and keep the money in their own accounts.you can imagine how pee'd of everyone gets.i bet the tossers sat the top of the pile are doing very nicely.allways the same with big companies.the little man at the bottom gets fudgeed.i done some work for Balfour Beatty about 16 years ago.think it about 7 months to get paid and that was after writing to the managing director.ony a few hundred quid too.fudge em all
    Nick...
     
  16. 76masseyman

    76masseyman Member

    Location:
    Lincolncestershire
    And Lincoln eastern bypass.
     
    robin banks likes this.
  17. Sid

    Sid Member

    Location:
    South Molton
    Paid a good dividend last year despite debts increasing.

    Bigger they are harder they fall
     
  18. skinnyhoskins

    skinnyhoskins Member

    Location:
    the narth
    Its around 80 million worth ,and 1.5billion debts with 587 million liabilty to the pension fund
     
  19. One good thing, if they've got themselves in this state it shows that the government isn't overpaying on these contracts.
     
    multi power likes this.
  20. Martin Holden

    Martin Holden Member

    Location:
    Cheltenham
    On that basis they are insolvent. This situation hasn’t just happened, problems start way back and we have to assume not dealt with sufficiently well. Paying a dividend when things were clearly heading south doesn’t seem a good move
     
    Last edited: Jan 14, 2018 at 9:42 PM
    multi power and skinnyhoskins like this.

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