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Carillion enters liquidation.


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Bernard Jenkin, the Conservative chairman of the House of Commons Public Administration Committee, said: "This really shakes public confidence in the ability of the private sector to deliver public services and infrastructure."


Interesting use of words from a Tory.
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41 minutes ago, madwullie said:

Cheers mate. I must have missed the massive headline on the BBC News website when I read it this morning. 

A few months back, I was buying some shares, and saw that their price had dropped considerably. Going by the old bollocks adage that "they're too big to fail", I bought a few hundred pounds' worth. Vince Cable was on the news yesterday saying "The government cannot bail them out"... I don't normally shout at the radio, but this time I yelled "Aye they bloody can". 

Anyway, would anyone like to buy my shares? I paid £300 ... will accept £150. 

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The government shouldn't bail out Carillion.  Other companies will take over their contracts and if there aren't any takers for public sector contracts they government can take them over.

12 minutes ago, Cardinal Richelieu said:

Cheers mate. I must have missed the massive headline on the BBC News website when I read it this morning. 

A few months back, I was buying some shares, and saw that their price had dropped considerably. Going by the old bollocks adage that "they're too big to fail", I bought a few hundred pounds' worth. Vince Cable was on the news yesterday saying "The government cannot bail them out"... I don't normally shout at the radio, but this time I yelled "Aye they bloody can". 

Anyway, would anyone like to buy my shares? I paid £300 ... will accept £150. 

Carillion shares were being heavily shorted for the last year - the markets knew

https://www.ft.com/content/153913cc-1a0b-11e7-bcac-6d03d067f81f

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9 minutes ago, ICTChris said:

The government shouldn't bail out Carillion.  Other companies will take over their contracts and if there aren't any takers for public sector contracts they government can take them over.

Carillion shares were being heavily shorted for the last year - the markets knew

https://www.ft.com/content/153913cc-1a0b-11e7-bcac-6d03d067f81f

You need to pay to view that link. GIven I'm around 300 sheets down, I'm not paying any more to find out I was a muppet. 

Has anyone got a link to the Northern Rock shares thread? I could do with a laugh. 

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You need to pay to view that link. GIven I'm around 300 sheets down, I'm not paying any more to find out I was a muppet.  Has anyone got a link to the Northern Rock shares thread? I could do with a laugh. 

 

 

I’m currently reading How To Own The World on the Kindle App. Just finished Chapter 2, so I don’t own the World as yet. However, the summary at the end notes:

 IN SUMMARY

Most non-professional investors are at risk of losing money and making bad investments because they really don’t know what they are doing.

 

I’m hoping he can get on with letting me know how to own the World because I’m flagging a bit. If he advises buying shares in Carillion I’ll have my doubts.

 

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They were a horrible company to deal with. 90 day payment terms, retro discounts they just took without notification, reluctant to pay retention. Just horrible.

We even won online auctions for about £1M worth of work with them that they didn't give us for some reason. 

Haven't been able to get a credit rating on them for over 6 months, not a surprise.

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1 hour ago, whiskychimp said:

Dunno what his involvement is but Philip Green is a c**t. 

Different Green to the BHS one. However this one was Chairman of a company that collapsed so...

5 minutes ago, Musketeer Gripweed said:

They were a horrible company to deal with. 90 day payment terms, retro discounts they just took without notification, reluctant to pay retention. Just horrible.

We even won online auctions for about £1M worth of work with them that they didn't give us for some reason. 

Haven't been able to get a credit rating on them for over 6 months, not a surprise.

90? Was it not 120 days? 

Larger firms can be a right pain. We work with some larger companies, the ability to get purchase orders for work that has been requested is often hard and then you invoice and there is always something wrong with the PO! 

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25 minutes ago, Scary Bear said:

Has anyone on here had any dealings with Carillion? My experience with them wasn’t positive. They seemed a bit of a shambles.

I've never worked for them but have as either a PM or an Engineer for an RC Sub Contractor on their site. Found them ok tbh. That said I remember having to teach their Scouse Engineer pythagoras!

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2 minutes ago, Melanius Mullarkey said:

Thats a strange name for a scouser.  Were his parents originally from Greece?

His name was Jay and he was a c**t. Shit at basic mathematics too. Seem to recall our slinger banksman threatened to throw him off the 8th floor of the building too.

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I've never worked for them but have as either a PM or an Engineer for an RC Sub Contractor on their site. Found them ok tbh. That said I remember having to teach their Scouse Engineer pythagoras!


I dealt with their FM part of the business. Very poor. Their M.O. seemed to be to keep chopping and changing key staff so you could never get issues resolved. In the end, after a couple of years soldiering on with a disaster of a contract you get rid, but they’ve had their money by then. Poor control of sub-contractors and poor financial control were also common.
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