Results 1 to 8 of 8

Thread: Taxpayers to foot £148m bill for failed Carillion - National Audit Office

  1. #1
    Join Date
    Sep 2015
    Posts
    1,054
    Thanks
    357
    Thanked 100 Times in 83 Posts

    Taxpayers to foot £148m bill for failed Carillion - National Audit Office

    Just to confirm that this is what I was saying all along about Carillion. Just another bailout, which made some Hedge Fund Managers lots of money.

    https://www.theguardian.com/business...anage-collapse
    those princes have accomplished most who paid little heed to keeping their promises, but who knew how to manipulate the minds of men craftily.

    Machiavelli, The Prince

  2. #2
    Join Date
    Oct 2015
    Posts
    4,786
    Thanks
    454
    Thanked 415 Times in 359 Posts
    Tony Blair again with his chums in the city and their PFI's.
    17,410,742 people said LEAVE!

  3. #3
    Join Date
    Oct 2009
    Location
    Midlands
    Posts
    7,569
    Thanks
    1,220
    Thanked 1,133 Times in 825 Posts
    In the greater scheme of things it's about £2 per person living in the UK. There are half built hospitals which need completing, it's going to need a gov.uk building firm to take over the staff and projects.

  4. #4
    Join Date
    Feb 2016
    Posts
    1,428
    Thanks
    122
    Thanked 271 Times in 215 Posts
    Just to be clear, this is not a "bail out" for Carrillion but a way to support the numerous sub-contractors who will have to continue the essential work. Having run a company and also been a part of a PLC I do have a dim view of many, though not all, accountancy companies. In my experience they devise methodologies that are sufficiently, though often unneccessarily, complicated to keep themselves in a job. Often so complicated that the biggest source of errors arise in the accountancy schemes used. It really should be just simple arithmetic but it is often opaque and is carried out for a significant percentage of a company's turnover. I doubt they will lose out over Carrillion's insolvency but many of Carrillion's subcontractors will.

  5. #5
    Join Date
    Sep 2015
    Posts
    1,054
    Thanks
    357
    Thanked 100 Times in 83 Posts
    Quote Originally Posted by grumzed View Post
    Just to be clear, this is not a "bail out" for Carrillion but a way to support the numerous sub-contractors who will have to continue the essential work.
    It's not clear why you wouldn't call it a bailout. Carillion collapsed, taxpayers are paying a large bill for it, certain Hedge Fund managers made big money. To me, that pretty much defines bailout.
    those princes have accomplished most who paid little heed to keeping their promises, but who knew how to manipulate the minds of men craftily.

    Machiavelli, The Prince

  6. #6
    Join Date
    Feb 2016
    Posts
    1,428
    Thanks
    122
    Thanked 271 Times in 215 Posts
    It is a bail out, but not for Carrillion, just their sub-contractors. We still need the work done.

  7. #7
    Join Date
    Oct 2015
    Location
    London N16
    Posts
    4,746
    Thanks
    2
    Thanked 495 Times in 414 Posts
    Quote Originally Posted by scott777 View Post
    Just to confirm that this is what I was saying all along about Carillion. Just another bailout, which made some Hedge Fund Managers lots of money.

    https://www.theguardian.com/business...anage-collapse
    The "bailout" is not making "Hedge Fund Managers lots of money". They made their money months ago by short selling way ahead of any fees yet to be paid to lawyers and administrators that are handling the mess...
    The poster reserves the right to amend or completely change any opinions he has posted at any time...

  8. The Following User Says Thank You to Patman Post For This Useful Post:

    scott777 (11-06-2018)

  9. #8
    Join Date
    Sep 2015
    Posts
    1,054
    Thanks
    357
    Thanked 100 Times in 83 Posts
    Quote Originally Posted by grumzed View Post
    It is a bail out, but not for Carrillion, just their sub-contractors. We still need the work done.
    Well look, I think really it's splitting hairs. It's not literally a bailout for Carillion, which went down, but it amounts to a bailout of the remains of Carillion for the sake of Hedge Fund managers. First they made money by selling stock which they knew would be worthless. Then taxpayers have to pay to keep afloat the remains (contractual) after the collapse. That to me is the same principle as a bailout.
    those princes have accomplished most who paid little heed to keeping their promises, but who knew how to manipulate the minds of men craftily.

    Machiavelli, The Prince

Similar Threads

  1. Replies: 13
    Last Post: 21-04-2018, 02:54 PM
  2. Trump shoots himself in the foot.
    By albertcornercrew in forum United States Politics Forum
    Replies: 7
    Last Post: 03-03-2018, 03:30 PM
  3. Replies: 83
    Last Post: 06-02-2018, 02:07 PM
  4. Replies: 2
    Last Post: 09-05-2017, 10:22 PM
  5. Replies: 5
    Last Post: 21-08-2014, 09:37 AM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •