Carillion

Mr_Curious

antrobus wrote: »

If cash out exceeds cash in you eventually go bust. Nuances ae neither here nor there. KISS is what matters. (And I don't mean the rock group.)

So its not as if they were rocking and rolling all night and partying every day?

Why can the concept of 'spending more money than you bring in leads to disaster' not be understood by big business? I am sure there is a bit more to it than that.
Why tender for work at such silly prices to stimulate cash flow if that is only going to produce a wafer thin margin? Does that not just prolong the inevitable?
If Carillion were the fastest to the bottom in this race then who is to follow? Will anything useful be learned from this? What are the not so obvious consequences that will lead on from this? How will these effects affect the taxpayer?

Eric_the_half_a_bee

Tromking wrote: »

Another private sector pension scheme bailed out by the taxpayers it seems.
We’ll have no more lectures about ‘gold plated’ public sector pensions please.

The scheme is being transferred to the Pension Protection Fund. The PPF is funded by private sector employers.

westernpromise

I doubt the pensions are even very good. There are almost no final salary pensions left in the private sector. If you want one of those you need to be employed (I don't say "work") in the public sector, where it's 9 to 5 with an hour for lunch and nobody ever gets sacked for indolence, incompetence, or killing people. Lovely! And they're all soooo grateful to private sector taxpayers for their "jobs", too.

Tromking

Eric_the_half_a_bee wrote: »

The scheme is being transferred to the Pension Protection Fund. The PPF is funded by private sector employers.

So it is. I'm guilty of a common misconception apparently. I'll get off my taxpayer funded high horse. Apologies.

Tromking

westernpromise wrote: »

I doubt the pensions are even very good. There are almost no final salary pensions left in the private sector. If you want one of those you need to be employed (I don't say "work") in the public sector, where it's 9 to 5 with an hour for lunch and nobody ever gets sacked for indolence, incompetence, or killing people. Lovely! And they're all soooo grateful to private sector taxpayers for their "jobs", too.

Ok, I’ll bite.
No one can deny that public sector pensions are still very generous.
That being true, why are there thousands of unfilled public sector roles available to your average worker?
If life is so easy and pensions are so generous, why the vacancies?

The-Joker

Back in 2008 bailouts were accepted, but now the tide has turned, bailouts will not be accepted, even if the companies and banks are too big to fail

antrobus

Tromking wrote: »

Another private sector pension scheme bailed out by the taxpayers it seems.
We’ll have no more lectures about ‘gold plated’ public sector pensions please.

Private sector pension schemes are not bailed out by taxpayers. They are 'bailed out' by other private sector pension schemes.

Gold plated public sector pensions are not effected.

antrobus

Mr_Curious wrote: »

So its not as if they were rocking and rolling all night and partying every day?

Oh I don't know. The CEO trousered £1.5m back in 2016. You can do a fair amount of rocking, rolling, and partying on that kind of wonga.

Mr_Curious wrote: »

Why can the concept of 'spending more money than you bring in leads to disaster' not be understood by big business? I am sure there is a bit more to it than that.
Why tender for work at such silly prices to stimulate cash flow if that is only going to produce a wafer thin margin? Does that not just prolong the inevitable?
If Carillion were the fastest to the bottom in this race then who is to follow? Will anything useful be learned from this? What are the not so obvious consequences that will lead on from this? How will these effects affect the taxpayer?

Because life is sweeter (in the short term) if you pretend otherwise. Lots of people do this. Entire countries, see Greece. Entire political parties, see the current Labour Party.

You keep rolling up the debt until you get to the point when no one will lend you any more and you hit the brick wall.

The lesson to be learned is that there is no magic money tree.:)

Thrugelmir

antrobus wrote: »

The lesson to be learned is that there is no magic money tree.:)

More so if your customers decide not to pay you.

gfplux

Apparently there was some EU funding for the Midland Metropolitan Hospital project.
I would assume that funding will be withdrawn if not yet advanced?
https://ec.europa.eu/commission/sites/beta-political/files/united_kingdom-investment-plan-factsheet-17x17-dec17_en.pdf