Home News Forum Articles
  Welcome back Join CF
You are here You are here: Home | Forum | Carillion Crisis

You are currently viewing our boards as a guest which gives you limited access to view most of the discussions, articles and other free features. By joining our Virgin Media community you will have full access to all discussions, be able to view and post threads, communicate privately with other members (PM), respond to polls, upload your own images/photos, and access many other special features. Registration is fast, simple and absolutely free so please join our community today.


Welcome to Cable Forum
Go Back   Cable Forum > General Discussion > Current Affairs

Carillion Crisis
Reply
 
Thread Tools
Old 16-01-2018, 22:11   #31
Damien
Remoaner
Cable Forum Team
 
Damien's Avatar
 
Join Date: Mar 2004
Posts: 32,206
Damien has a lot of silver blingDamien has a lot of silver blingDamien has a lot of silver blingDamien has a lot of silver blingDamien has a lot of silver bling
Damien has a lot of silver blingDamien has a lot of silver blingDamien has a lot of silver blingDamien has a lot of silver blingDamien has a lot of silver blingDamien has a lot of silver blingDamien has a lot of silver blingDamien has a lot of silver blingDamien has a lot of silver blingDamien has a lot of silver blingDamien has a lot of silver bling
Re: Carillion Crisis

Maybe the Government should look into managing more of this projects themselves in the way TFL do. TFL subcontract out the actual physical work but they have much greater control of the projects themselves. The Government obviously shouldn't be directly involved with many of these tasks, hiring builders etc, but they shouldn't be so abstracted from them either.

This is another example of everything being handed off, there being probably decent evidence everyone knew for a while it was failing, but the government get to claim it's nothing to do with them. In the end the companies doing the manual work don't get paid, the staff lose their jobs and the public pick up the bill.
Damien is online now   Reply With Quote
Advertisement
Old 17-01-2018, 09:24   #32
Maggy
The Invisible Woman
Cable Forum Team
 
Maggy's Avatar
 
Join Date: Jun 2003
Location: between Portsmouth and Southampton.
Age: 71
Services: VM XL TV,50 MB VM BB,VM landline, Tivo
Posts: 40,159
Maggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden aura
Maggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden aura
Re: Carillion Crisis

One off topic post removed.
__________________
Hell is empty and all the devils are here. Shakespeare..
Maggy is offline   Reply With Quote
Old 29-01-2018, 06:40   #33
denphone
Still alive and fighting
 
denphone's Avatar
 
Join Date: Jun 2007
Location: In the land of beyond and beyond.
Services: XL BB, 3 360 boxes , XL TV.
Posts: 56,296
denphone has a golden auradenphone has a golden aura
denphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden aura
Re: Carillion Crisis

Carillion tried to 'wriggle out' of pension contributions.

http://www.bbc.co.uk/news/business-42853895
__________________
“The only lesson you can learn from history is that it repeats itself”
denphone is offline   Reply With Quote
Old 29-01-2018, 10:45   #34
heero_yuy
Perfect Soldier
 
heero_yuy's Avatar
 
Join Date: Mar 2009
Location: Worthing West Sussex
Age: 66
Services: VM 500M SH3 thingy in modem mode XL TV V6 Sony Bravia smart TV and M phone
Posts: 10,966
heero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered stars
heero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered stars
Re: Carillion Crisis

Aparently according to R4 business segment this morning they were paying dividends out to shareholders on the basis of anticipated revenues rather than actual profits. All sound very dodgy and the auditors KPMG are to be investigated.

Quote:
Originally Posted by
Reuters

The FRC said it would look at issues such as how the auditors recognised revenue on significant contracts and accounted for pensions.

The trustee of Carillion’s pension scheme said on Monday it may have a deficit of about 990 million pounds.

“The FRC is progressing with urgent enquiries into the conduct of professional accountants within Carillion,” the FRC said in a statement.
__________________
History is much like an endless waltz: The three beats of war, peace and revolution continue on forever.
However history will change with my coronation - Mariemaia Khushrenada
heero_yuy is online now   Reply With Quote
Old 31-01-2018, 13:45   #35
denphone
Still alive and fighting
 
denphone's Avatar
 
Join Date: Jun 2007
Location: In the land of beyond and beyond.
Services: XL BB, 3 360 boxes , XL TV.
Posts: 56,296
denphone has a golden auradenphone has a golden aura
denphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden aura
Re: Carillion Crisis

Shares in UK government contractor Capita plunge 40% after profit warning.

Quote:
Shares in government contractor Capita plunged 40% after it issued a shock profits warning and suspended its dividend payments just weeks after the collapse of construction firm Carillion.
Quote:
David Madden, an analyst at CMC Markets, said the action from Capita was “a red alert” for investors, suggesting the company was struggling to cope with its debts.
https://www.theguardian.com/business...profit-warning
__________________
“The only lesson you can learn from history is that it repeats itself”
denphone is offline   Reply With Quote
Old 31-01-2018, 14:27   #36
heero_yuy
Perfect Soldier
 
heero_yuy's Avatar
 
Join Date: Mar 2009
Location: Worthing West Sussex
Age: 66
Services: VM 500M SH3 thingy in modem mode XL TV V6 Sony Bravia smart TV and M phone
Posts: 10,966
heero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered stars
heero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered stars
Re: Carillion Crisis

They're the outfit behind the knuckle draggers at TVL so I, for one, have very mixed feelings.
__________________
History is much like an endless waltz: The three beats of war, peace and revolution continue on forever.
However history will change with my coronation - Mariemaia Khushrenada
heero_yuy is online now   Reply With Quote
Old 31-01-2018, 15:37   #37
Maggy
The Invisible Woman
Cable Forum Team
 
Maggy's Avatar
 
Join Date: Jun 2003
Location: between Portsmouth and Southampton.
Age: 71
Services: VM XL TV,50 MB VM BB,VM landline, Tivo
Posts: 40,159
Maggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden aura
Maggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden auraMaggy has a golden aura
Re: Carillion Crisis

Quote:
Originally Posted by heero_yuy View Post
Aparently according to R4 business segment this morning they were paying dividends out to shareholders on the basis of anticipated revenues rather than actual profits. All sound very dodgy and the auditors KPMG are to be investigated.
About time KPMG are investigated. They have a hell of a spotty record. How they haven't been done for fraudulent practices beats me.
__________________
Hell is empty and all the devils are here. Shakespeare..
Maggy is offline   Reply With Quote
Old 06-02-2018, 14:09   #38
denphone
Still alive and fighting
 
denphone's Avatar
 
Join Date: Jun 2007
Location: In the land of beyond and beyond.
Services: XL BB, 3 360 boxes , XL TV.
Posts: 56,296
denphone has a golden auradenphone has a golden aura
denphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden aura
Re: Carillion Crisis

Carillion CFO says the supply chain let contractor down.

Quote:
Carillion’s former CFO Zafar Khan has told MPs that subcontractors had made it hard for the company to generate income.
Quote:
Out of the approximately £800m debt, he said £400m was linked to work in Canada and the Middle East.

Mr Cochrane said that a project in Qatar saw 2,500 design variations submitted and that Carillion was not paid by the client for 18 months prior to its collapse.
https://www.constructionnews.co.uk/c...027847.article

Too many fingers in too many pies and the consequences of it all are there for all to see.
__________________
“The only lesson you can learn from history is that it repeats itself”

Last edited by denphone; 06-02-2018 at 14:12.
denphone is offline   Reply With Quote
Old 06-02-2018, 19:11   #39
Hom3r
Mum 15/08/46 - 30/09/20
 
Hom3r's Avatar
 
Join Date: Mar 2004
Location: Galactic Sector ZZ9 Plural Z Alpha, www.daves-world.co.uk. A secret Moonbase (shh don't tell anybody)
Age: 55
Services: 1 V6, 2x1TB TiVo, SH3. Samsung Galaxy Note 10+ 5G, Ton's of Smart Home stuff, & Cuddy Toy
Posts: 16,864
Hom3r has a pair of shiny starsHom3r has a pair of shiny starsHom3r has a pair of shiny starsHom3r has a pair of shiny stars
Hom3r has a pair of shiny stars
Re: Carillion Crisis

Why haven't the bosses had their assest frozen?

TBH they should all lose everything and given a 1 bedroom home which they need to rent.
__________________
STAY AT HOME: I found out that mum will never walk again as the coronavirus attacked her nervous system. She died on September 30th, wearing a mask and she still might be alive today.
Hom3r is offline   Reply With Quote
Old 06-02-2018, 19:14   #40
denphone
Still alive and fighting
 
denphone's Avatar
 
Join Date: Jun 2007
Location: In the land of beyond and beyond.
Services: XL BB, 3 360 boxes , XL TV.
Posts: 56,296
denphone has a golden auradenphone has a golden aura
denphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden aura
Re: Carillion Crisis

Frank Field summed it up succinctly when a string of senior directors from the Wolverhampton-based collapsed construction and infrastructure group Carillion appeared before two select committees at the Houses of Parliament today.

Quote:
“Pensioners are taking cuts, lots of people are not going to get paid for their contracts, other people have lost their jobs and you are still alright, all of you, aren’t you?”
https://www.birminghampost.co.uk/bus...ntary-14254821
__________________
“The only lesson you can learn from history is that it repeats itself”
denphone is offline   Reply With Quote
Old 06-02-2018, 19:17   #41
heero_yuy
Perfect Soldier
 
heero_yuy's Avatar
 
Join Date: Mar 2009
Location: Worthing West Sussex
Age: 66
Services: VM 500M SH3 thingy in modem mode XL TV V6 Sony Bravia smart TV and M phone
Posts: 10,966
heero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered stars
heero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered starsheero_yuy is seeing silvered stars
Re: Carillion Crisis

Quote:
Quote from Hom3r:


Why haven't the bosses had their assets frozen?

TBH they should all lose everything and given a 1 bedroom home which they need to rent.
Whipped round the City mile wearing sackcloth and ashes.

No, they'll just present their day-glow credentials to the next organisation that they'll run into the deck.
__________________
History is much like an endless waltz: The three beats of war, peace and revolution continue on forever.
However history will change with my coronation - Mariemaia Khushrenada
heero_yuy is online now   Reply With Quote
Old 07-02-2018, 21:20   #42
richard s
Permanently Banned
 
Join Date: Jan 2012
Location: Near France
Services: Tivo XL 150mb broadband L phone
Posts: 1,817
richard s is the helpful onerichard s is the helpful onerichard s is the helpful onerichard s is the helpful onerichard s is the helpful onerichard s is the helpful onerichard s is the helpful onerichard s is the helpful onerichard s is the helpful onerichard s is the helpful onerichard s is the helpful onerichard s is the helpful onerichard s is the helpful onerichard s is the helpful onerichard s is the helpful onerichard s is the helpful onerichard s is the helpful onerichard s is the helpful one
Re: Carillion Crisis

Classic case of really bad management from the very top. The directors should be held to account for this failler of the first degree.
richard s is offline   Reply With Quote
Old 10-02-2018, 21:40   #43
Osem
Inactive
 
Join Date: Oct 2006
Location: Right here!
Posts: 22,316
Osem is seeing silvered starsOsem is seeing silvered starsOsem is seeing silvered starsOsem is seeing silvered starsOsem is seeing silvered starsOsem is seeing silvered starsOsem is seeing silvered stars
Osem is seeing silvered starsOsem is seeing silvered starsOsem is seeing silvered starsOsem is seeing silvered starsOsem is seeing silvered starsOsem is seeing silvered starsOsem is seeing silvered starsOsem is seeing silvered starsOsem is seeing silvered starsOsem is seeing silvered starsOsem is seeing silvered starsOsem is seeing silvered starsOsem is seeing silvered stars
Re: Carillion Crisis

Quote:
Originally Posted by Hom3r View Post
Why haven't the bosses had their assest frozen?

TBH they should all lose everything and given a 1 bedroom home which they need to rent.
Same reason certain inept/negligent/or worse public sector grandees seem to move from one highly paid post to another leaving a trail of failure behind them in their wake.
Osem is offline   Reply With Quote
Old 11-02-2018, 06:14   #44
denphone
Still alive and fighting
 
denphone's Avatar
 
Join Date: Jun 2007
Location: In the land of beyond and beyond.
Services: XL BB, 3 360 boxes , XL TV.
Posts: 56,296
denphone has a golden auradenphone has a golden aura
denphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden aura
Re: Carillion Crisis

Quote:
Originally Posted by Osem View Post
Same reason certain inept/negligent/or worse public sector grandees seem to move from one highly paid post to another leaving a trail of failure behind them in their wake.
And gets a juicy golden handshake and gold plated pension when they slink off to their retirement homes way before everybody else retires.
__________________
“The only lesson you can learn from history is that it repeats itself”
denphone is offline   Reply With Quote
Old 22-02-2018, 08:32   #45
denphone
Still alive and fighting
 
denphone's Avatar
 
Join Date: Jun 2007
Location: In the land of beyond and beyond.
Services: XL BB, 3 360 boxes , XL TV.
Posts: 56,296
denphone has a golden auradenphone has a golden aura
denphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden auradenphone has a golden aura
Re: Carillion Crisis

Carillion was in trouble by mid-2016, says whistleblower.

Quote:
“Anyone in the business knew there were major problems, even middle managers,” the former Carillion executive told the Guardian.

“The supply chain wasn’t being paid, money was getting transferred [between different parts of the group] to pay salaries, loans were coming in from the UK to the whole of the Middle East. By mid-2016 we were already seeing these problems.”
https://www.theguardian.com/business...-whistleblower
__________________
“The only lesson you can learn from history is that it repeats itself”
denphone is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT +1. The time now is 14:06.


Server: osmium.zmnt.uk
Powered by vBulletin® Version 3.8.11
Copyright ©2000 - 2024, vBulletin Solutions Inc.