Can we talk about Carillion

Discussion in 'UK politics, current affairs and news' started by gawkrodger, Jan 13, 2018.

  1. Rob Ray

    Rob Ray Irony is well sad

    Sadly it's pretty common for firms to appoint their own guys to the pension fund boards, who then treat it like a piggy bank and/or place the sort of half-baked bets on the stockmarket that they'd never make with their own money. Along with the pension holidays they all took under Brown it was a major underlying factor when companies were dealing with "unexpectedly high pension liabilities" back in the mid 2000s and switching their workforces from final salary to working life payouts.
     
    crossthebreeze likes this.
  2. GarveyLives

    GarveyLives Well-Known Member

    Now, a view from the contruction industry trade press ...

    "The bile that has been directed at Richard Howson, former chief executive of Carillion, in the past week has been abhorrent. There are important lessons to be learned but hurling spew is both nasty and pointless ..."

    Britain reveals its ugly side in Carillion witch-hunt (click for more)
     
    Badgers likes this.
  3. teqniq

    teqniq DisMembered

    Where is my tiny violin?
     
  4. existentialist

    existentialist Running out of ways it could get worse

    Here. It's playing his tune!
     
    cupid_stunt and teqniq like this.
  5. HoratioCuthbert

    HoratioCuthbert It's only silence failing

    It wasn't hurled, it was pure projectile and involuntary :)
     
    likesfish likes this.
  6. BemusedbyLife

    BemusedbyLife Well-Known Member

    I've got it mine is broken due to recent overuse
     
  7. teqniq

    teqniq DisMembered

  8. Chilli.s

    Chilli.s Well-Known Member

    Less a conflict of interests, more of corruption and semi-criminality. Fuck knows what laws. Morally bent though.
     
  9. likesfish

    likesfish officaly hardest and most tooled up urbanite:)

    thought these CEO's were the jungle cats of capitalism?
    red in tooth and claw.


    think this applies you get the big cash and everything if it works if it doesn't you don't get a safety net.
    “I never saw a wild thing sorry for itself. A small bird will drop frozen dead from a bough without ever having felt sorry for itself.”

    ― D.H. Lawrence, The Complete Poems
    tags: dh-lawrence, self-pity Read more quotes from
     
    Badgers likes this.
  10. gosub

    gosub ~#

    The Man Who Taught His Asshole to Talk | RealityStudio seems closer
     
  11. GarveyLives

    GarveyLives Well-Known Member

  12. GarveyLives

    GarveyLives Well-Known Member

    The irony is that I suspect that the people at Carillion who were responsible for its collapse probably look a lot more like you than Diane Abbott does.
     
    Badgers likes this.
  13. Ponyutd

    Ponyutd Greebo likes this....r.i.p.

    A gentle poking of a politcan.
    So sorry to upset you.
     
  14. andysays

    andysays Defiantly non-premium member

    Any reason why that politician in particular?

    I'm not aware of any way in which Diane Abbott has special responsibility for the Carillion collapse, but maybe you can enlighten us...
     
  15. elbows

    elbows WoeTimer

    I have seen the same joke elsewhere on the net. My assumption upon seeing it was that it was based on her infamous interview last year where the costings of a policy and associated maths were a train wreck.
     
    cupid_stunt likes this.
  16. Ponyutd

    Ponyutd Greebo likes this....r.i.p.

    Enlightened enough for you. Others got the (weak admittedly) joke.

    Who's the 'us'?
     
    Last edited: Jan 27, 2018
  17. cupid_stunt

    cupid_stunt & dyslexic cnut.

    She aimed to blow a million, then a billion, and ended-up blowing a carillion, on extra police.
     
  18. Ranbay

    Ranbay The same rules apply

    not read the whole thread, anyone know if old pension are fucked? left in 2009 7 years service.....

    not that i think i will make it to pension age mind you :)
     
  19. GarveyLives

    GarveyLives Well-Known Member

    Try:

    Carillion collapse: will pensions still be paid?

    Carillion: Are pensions on the brink?

    I suggest that you contact the Trustees of the specific pension scheme concerned using the contact details that appear on your annual statement.

    Good luck.

    By the way:

    The Pension Protection Fund placed Carillion on watch list last Autumn
     
    Smoking kills likes this.
  20. GarveyLives

    GarveyLives Well-Known Member

    With today's news that The Financial Reporting Council is to launch an investiagtion into KPMG’s audit of the financial statements of Carillion plc covering the years ended 31 December 2014, 2015 and 2016, and additional audit work carried out during 2017, (i.e. whether the 'books' had been 'cooked' and the auditor's role in this?) James Moore, Chief Business Commentator at The Independent, asks a question that many others have probably been asking themselves:

    Carillion: Why do regulators sit back and allow scandals like this to happen?
     
  21. teqniq

    teqniq DisMembered

    And now Crapita looks to be having difficulties

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

     
  22. Teaboy

    Teaboy It definitely looks brighter over there..

    Aye, Crapita have all the hall marks of the next collapse - history looks set to repeat itself. The only thing you can say is that on the face of it they look to be taking some sort of preemptive action rather than just raiding the bank as much as possible before the inevitable collapse. I say looks like mind
     
  23. agricola

    agricola a genuine importer of owls

    One wonders whether or not the Government has had a word and agreed to take back some of the "less profitable" outsourced things, which is the only realistic way they could turn things around in the short term. Certainly the idea that they can sell bits off is surely doomed - given this announcement and what happened when Carillion tried the same thing - as is the idea that they could raise £700 million.
     
    Sprocket. likes this.
  24. SpookyFrank

    SpookyFrank Ridin' a Stutz Bearcat, Jim

    Wonder how many too-big-to-fail outsourcing firms need to fail before the government admits that maybe this whole outsourcing model is a crock of shit.
     
    Nylock, muscovyduck, instape and 6 others like this.
  25. existentialist

    existentialist Running out of ways it could get worse

    A380 likes this.
  26. Teaboy

    Teaboy It definitely looks brighter over there..

    They missed the boat on that. In opposition Cameron and Osborne correctly slammed New Labour and particularly Brown for his lover affair with outsourcing and PFI. They could have done something about it when they first got into power and blamed the whole sorry fiasco on Brown, but no, they just carried on like normal as soon as they got the reigns.

    Among the myriad of crap that is outsourcing one of the most fundamental problems is the idea that these companies will tender on pretty much any government contract regardless of what it actually is. Carillion were fundamentally a builder but at one point they were managing the helpline for the digital TV switch over. Crapita have their fingers is so many pies I doubt anyone could really say what they actually do. I've been to meetings with architects who work for Crapita about prison buildings, yet they also are involved in large scale IT schemes, small scale IT helpdesks, accountancy, oversight etc etc

    The business model is to hoover up government contracts but then bring in the expertise from outside, but if you have little in-house expertise how on earth can you put in a realistic bid in the first place? The numerous massive Government IT contract failures show this the best, the fact no software tech giants were interested in bidding should have had alarm sirens sounding all over the place.

    The only conclusion is that these companies exist solely to hoover up government money, the lobbyists for these companies crawl around parliament with their flashy suits and massive entertainment expenses accounts. Anybody in Parliament or the civil service for that matter who have / still believe in this system are either short sighted complacent fools or outright corrupt.
     
  27. lizzieloo

    lizzieloo Numpty extraordinaire

  28. Pickman's model

    Pickman's model Every man and every woman is a star

    academic libraries concerned about capita collapse - from the sconul newsletter
    upload_2018-2-5_14-24-45.png
     
  29. SpackleFrog

    SpackleFrog Smash showy bell-bottom pants and sporty haircuts

    I wonder if Blair would have had a similar attitude if he was Labour leader now and he was unhappy with positions taken by Welsh Labour?

    Corbyn may not have the power to decide Welsh Labour policy directly but I think it's a cop-out to absolve him of responsibility for Welsh Labour. I'd add that he has no excuses for not taking a more direct approach to Labour councils in England - in Sheffield where I live for example there's been no change in policy on PFI deals, just look at this for example: Sheffield taxpayers to continue to pay off Amey PFI deal '20 years after contract finishes'
     
    instape and redsquirrel like this.
  30. agricola

    agricola a genuine importer of owls

    Blair was much more interventionist in Welsh Labour, thats why he tried to impose Ron Davies and Alun Michael until reality intervened. I suppose the difference between Blair and Corbyn is that, in Welsh terms at least, what Corbyn has done / is doing isn't going to drive hundreds of thousands of voters away.

    I agree that Corbyn should be more interventionist with regards to Councils though - not only Sheffield but whats happened in Lambeth and Lewisham have not been mentioned (let alone challenged), though having seen the reaction to even the tiniest bit of official disapproval over HDV I can understand why he might be reluctant to. However as most of those councillors (especially Lambeth's) are his bitter enemies they should probably be stamped on sooner rather than later.
     

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