Carillion Share Discussion Threads

[rackers1] 16/1/2018 11:28

how the hell were they allowed to pay a 12.65p divi last June? where the f was KPMG - heads need to be rolled there too.

[rcturner2] 16/1/2018 11:18

agree rackers

[lefrene] 16/1/2018 11:12

Gov puts up £1 billion to buy 10 Northern Island votes, but won't put up the same to save 40,000 jobs while the mess is sorted out. Interesting priorities. No I'm not in favour of government propping up lame duck industry, but this case does look a bit different, in that there are ongoing major contracts from which value can be retrieved over a few years. As it is a large number of small honest sub-contractors are going to get damaged or destroyed, it's likely to cost the economy more than propping the thing up for a couple of years. I hope the greedy incompetent directors get sued.

[vauch] 16/1/2018 11:05

Yep it stinks
As a co we dealt with canon ocs the had the contract for military bases ground care ect, when the contract was up for renewal carillion under cut the price by 30%.
If this was going on with all contracts no wonder they went under.

As ever cheapest is not always best.

[rackers1] 16/1/2018 11:00

the more i read about the top brass at carillion the more there has to be criminal proceedings.
it reeks from head to toe

[cockneytrader] 16/1/2018 11:00

I have no problem lending a short seller stock, must it should have to be reported.

You would find many private investors would be absolutely appalled!

[mazarin] 16/1/2018 11:00

There are so many similarities here with the then defunct NatWest Bank when it was 'reigned' over by Fred (the Shred) Goodwin. He and his NEDs had their own ‘exclusiveR17; entrance at his shiny new HQ and ordinary staff were forbidden to mix with BOD when they arrived. Inquisitive journalists were kept well clear, they were refused access and not given ‘audience̵7; long before the 'cracks' first appeared in their greedy Empire.
I so well remember sometime in 2007 when Angela Knight, the then arrogant spokesperson, representing the 'Banking Syndicate' confidently defended on TV, the style and excesses of Banking management and she affirmed with absolute belief that “They (the existing CEO’s) were best qualified and best placed to rectify the looming Banking crisis”.
All ‘they’ did, was ensure that ‘they’ could retire on fat salaries, wrapped up in tight contracts, paid for by tax payers' money, whilst the rest of the country suffered the worst recession since 1929. All of this was done at the behest of Gordon BROWN's Labour government and then Financial Regulators.
Smirking 'Fred the Shred' rapidly departed to Monte Carlo and his Villa in the South of France living off his tax paid and guaranteed multimillion pounds pension.

[rackers1] 16/1/2018 10:59

best way to ensure as a PI not to lend your stock out in nominee accounts is to put in limit orders.

[cockneytrader] 16/1/2018 10:57

Hargreaves Lansdown do not lend stock. I ask them that question every year.

[my retirement fund] 16/1/2018 10:55

I would imagine since they were to inept to sell their holdings themselves they are now too embarrassed to admit who they are.Half the stock that was held and got lent out was probably owned by the usual suspects if truth be know which include Standard Life and Neil Woodford linked funds.

[rcturner2] 16/1/2018 10:53

Probably private investors through their nominee accounts ....

[cockneytrader] 16/1/2018 10:51

I would like to know who was lending stock to the shorters.

It would seem that they have shot themselves and their clients in the foot.

The media should definitely name and shame.

[melodrama] 16/1/2018 10:51

From FT Lexicon


Definition of corporate responsibility
Corporations have a responsibility to those groups and individuals that they can affect, i.e., its stakeholders, and to society at large. Stakeholders are usually defined as customers, suppliers, employees, communities and shareholders or other financiers.

The responsibility to society at large may well be identical with the responsibility to its various communities. Many have suggested that corporations have a special “social responsibility”; over and above its business purpose. In any case corporate responsibility consists of earning a licence to operate by creating value for stakeholders, including shareholders, and society.

Corporate responsibility includes being consistent with ethical principles and conduct such as honesty, integrity and respect for others. By voluntarily accepting responsibility for its actions corporations earn their licence to operate in society.

[still waiting] 16/1/2018 10:09

Philip Green £193K

WTF

[hpcg] 16/1/2018 09:59

I disagree about the pages of risks, than can be enlightening but difficult to sort. US 10ks are better for this as legal action for non disclosure is more likely over there, but it still worth a read.

The bits about losing money are in the financial statements, that's why people have been saying look at the financial statements for years.

[olivercromwell] 16/1/2018 09:59

'You'll never see me coming'

[rcturner2] 16/1/2018 09:53

I actually know of one FTSE 100 company that employs a very expensive and well regarded chef solely to make meals for the top brass in a similar top floor restaurant.

[olivercromwell] 16/1/2018 09:16

Lost most of my capital here which wasn't much but enough to cause a significant impairment -

You can't run a private sector company like a public sector waste-fest. The two are incongruous

Looking around, there's nothing but hatred

[mazarin] 16/1/2018 09:07

From Carillion’s published accounts in September 2017, the estimated value of the Company, after more than £1bn of contract writedowns, the group had accrued known debts and other liabilities totalling £4.1bn, but could only claim to possess assets worth £3.7bn.

It should therefore come as no surprise that when liabilities appear to so grossly exceed assets, shareholders can expect to record a 'total loss'.

[tenapen] 16/1/2018 08:37

Well said, clive.

[clippyclive] 16/1/2018 08:35

Just shows what this government is all about, still paying big bonuses and dividends to the fat cats at the top, absoluely disgusting.