Carillion Liqudiation

IronGiant

Their pension pot has taken a hit alas...  Pension investors fromother areas would have seen it coming I would hope.

tapzilla2k

I'm not excited, a lot of the sub contractors likely face going under. I'm aware of the origins of Carillion. Anyway Peston on the collapse -
Robert Peston

Either Carillion collapsed last summer or it collapsed as it did this week. Hedge funds spent most of last year shorting Carillion shares.

You have to look at the entire procurement and tendering process. Having massive companies winning the lion's share of Government contracts is perhaps not the best way to go. Plenty of government contracts that are on a smaller scale can be carried out by smaller companies and sub contractors. The questions you've posed have been debated for most of the day.

Toko Black

As you rightly pointed out, the company itself is and always has been a private one.
However, in the situation that has arose over the years with the privatisation of once public services and the semi-privatisation of some aspecs of public services by outsourcing, it has become somewhat of a grey-area.
Schools meals are one example where once public run parts of a service are farmed out to private sector companies like Carillion.
If you look at what Carillion provided services in and who for, you see many once totally public run services that are now private contracts and subcontractors.

That's not a critique of privatisation or outsourcing in an of itself, merely an indicator that in many cases, it is not so easy to draw clear lines of distinction between what is and what is not public and private in terms of the aspects of services we use.

IronGiant

But Enki didn't and given his rant on this and other issues, he needs to get a grip before ranting against the government...

EarthRod

The Carillion share price has dropped about 90% since 2016.

However the top man is still drawing down his £660,000 salary together with £28,000 benefits until October.

The company employs 43,000 staff globally and the UK staff is about 20,000.

Enki

Phillip Green he also advises Theresa May on corporate responsibility, I guess he is in part formulating policy. What could possibly go wrong!

domtheone

At least somebody has done alright out of this then

EarthRod

Also it's not the first company to go bust under his leadership.

Practice makes perfect

Cliff

All this point scoring over private versus public companies! If it had been a public company the tax payer would just continue propping up a badly managed company. Is that a better solution?

Crafty

My point was regardless of how this company failed, you demanding the Government answer "crucial questions" is in a similar vein to comments I've seen elsewhere basically blaming the Government for the company going bust.

If the Government hadn't continued to award them contracts you'd be telling us how they have "crucial questions" to answer regarding their lack of support for a large employer.

I don't see how the Government have any questions to answer regarding the failure of a private business, especially one that has been in the death throes for a long time.