Havelock Europa Share Discussion Threads

[truthful tommy2] 20/3/2018 13:14

The H&M account never got the chance to get cosy. Like everything they appointed a team that did not have one clue what the client wanted. They failed to deliver on the clients expectations. The so called team leader was a electrical engineer hired to check out Electrical and Heating and Ventilation designs and quotations for the business. Its funny that 2 of the team leaders had been team leaders on the Aviva fiasco.

[cvileservant] 20/3/2018 09:31

In their defense ( proving not ex-employee!!!) the Swedes tend to rotate framework contractors out after a period of time, to stop people getting too cosy in relationships, and to take the contract back to more keen contractors. Like all Scani's though, they also have a very high sense of integrity in business......

[cookpeter1958] 17/3/2018 08:27

And what about H&M, another large Client that they lost.

[truthful tommy2] 17/3/2018 07:21

Your forgetting Co-op, RBS, Tesco, Boots, TSB, and at no time has any Account Director ,Account manager, Director of any department whats so ever, Team leader, been held responsible, or accountable, or faced any disciplinary action. The new financial injection will only feed the excess wages and bonuses, allow bigger and better cars to be purchased, finance expenses.

[2perfect] 16/3/2018 20:37

Well cash injection done. Spent. Still on stop with suppliers. Spent. The fat lady is singing.

[neverforget] 16/3/2018 17:06

Remember the virgin money account? Lost a bin load on that, didn’t they manufacture the desk for the virgin ceo?
Then there were the m&s till sales that delaminated.
Then there was monsoon that promised a full store rollout.
Then there was carphone warehouse.
Then there was Lloyd’s
Now nationwide
What a sorry tale.

[cvileservant] 14/3/2018 17:32

TT, point is contract was not to be remeasured, as it was 'fixed price lump sum' i.e. if completed, the contract sum should have been the final account, plus any correctly issued instructions. Someone in control chose to tak advice, make the contract remeasurable when they reaslised the costs had exceeded the contract value, and found out that the final quantum of the work was less than the original contract amount, hence adding a reduced value to a cost overrun, probably with fees to an outsider to change the formation of the contract! Doh!

[jaykaytee] 13/3/2018 12:06

Finally bit the bullet and decided to sell my holdings for a loss . ...this has been a slow and painful death!

[neverforget] 12/3/2018 19:32

So we know this is not going g bust but what else do we know?
The idea of a strategy of following the money seems weak and wishful. So will this just splitter along for another 2 years?
Or will it surprise us? Needs better management if it is the second

[truthful tommy2] 10/3/2018 07:00

The contract was never remeasured, the QS whos job it was went off sick with a broken ankle and was never replaced. The units for the hospitality suits should have been module but were measured bespoke and made bespoke. GJ contractor director had total control. GJ was warned several times about the failings at Aviva, in fact there is and was a letter on file stating the problems. But like everything else at Havelock it was hidden and swept under the carpet. JG buried his head in the sand and only surfaced after the disaster.

[cvileservant] 09/3/2018 17:22

Was PD the one that launched the rescue boat on the Aviva Stadium titanic trip, and made the contract remeasureable and not a fixed price lump sum. Bit of a schoolboy error in not actually assesing the measure of the work beforehand, and ramping the loss up to £800k from £400k. Then the stroke of brilliance of hauling the entire company through a lessons learned session, and giving commercial sensetive info to even the temporary workers! Or was that JG in commercials choice.

[clocktower] 08/3/2018 17:21

Sometimes when companies are on their knees they beg for any possible saviour, to help them out of the holes they have dug as long as they can get themselves off the hook.

[neverforget] 08/3/2018 16:54

Not going to happen. He left it once. If he was interested in it he would be on it.

[jbarker5555] 06/3/2018 17:21

He's had a seat before and left it. I can't see him wanting one now when he's negative on the company and wants out. AIMO :)

[clocktower] 06/3/2018 16:46

Maybe GG will get a seat before long. If he did, it would boost the share price I expect.

[neverforget] 06/3/2018 16:35

Thanks for clarifying. They need to sort themselves out.

[truthful tommy2] 06/3/2018 07:55

neverforget the 20 redundancies come from the christmas announcement.
The reason there leaving March is that they made certain employees work the 3 months notice.

[neverforget] 05/3/2018 21:31

Btw the rumour is true. Confirmed to me today.Also rumour going around again that HH is closing down end of Q2 and everything is going into Kilcaldy

[neverforget] 05/3/2018 14:49

That means more profit doesn’t it? Pmsl

[cookpeter1958] 05/3/2018 09:59

I'm told at least 20 are being made redundant at the end of March, so that will eat into the money, especially if the redundancies continue!

[truthful tommy2] 04/3/2018 09:01

If you keep making the same mistakes you will always get the same results.

[neverforget] 03/3/2018 21:26

Well they should have enough cash
Question is what will they do with it

[cookpeter1958] 01/3/2018 10:03

I'm told PD left the Business yesterday