Carillion in trouble

[Tin basher]

This lot have maintenance contracts on certain RAF Bases. Anecdotally the infrastructure fixture and fittings are creaking right now if a new partner has to tender a price, and get set up where will we be by then?

http://www.bbc.co.uk/news/business-42595874

"Carillion, the troubled services and construction group, will reveal a new business plan this week in a bid to avoid collapse. The company, one of the government's biggest contractors, has issued a series of profit warnings in recent months. The turmoil has sent its shares tumbling by 90% since July."

 

[Witty_Banter]

I've been absolutely overjoyed to watch this cowboy company crumble - I really hope it collapses. Serves them right for not doing things properly.

 

[rocket scientist]

I'm not saying that this is the reason why, but a few companies have gone bust due to the MoD's poor record of paying bills on time.

 

[rest have risen above me]

Isn't carrillionamey a seperate company set up specifically for this contract?

 

[norfolkred1]

They have a lot of fingers in pies but now getting burnt.

 

[dkh51250]

Carillion have oversight of A1L2B, the A1 Leeming to Barton upgrade to motorway status.The same contract that is now almost one year overdue. Much like their efforts with MOD, the whole thing has turned into a circus. Management is not in their vocabulary, unlike the word ineptitude.

 

[Tin basher]

More details of Carillions troubles

http://www.dailymail.co.uk/news/article-5260855/Construction-giant-beg-Whitehall-huge-bailout.html

Now they are asking for a government bail out to cover the firms failing, share price dropping like stone, pension black hole, asset value tumbling etc. As a taxpayer they can sod off its a private business if it goes to the wall then the buck stops with the management not bank of UK citizen.

 

[justintime129]

The opening of the new Royal Liverpool Hospital as been put back 3 times, now expected to open this summer. Should have been last Feb. Guess who are responsible for building it.

The hospital Trust say they have contingency plans in place if Carillon go bust.

 

[Digzster]

More details of Carillions troubles

http://www.dailymail.co.uk/news/article-5260855/Construction-giant-beg-Whitehall-huge-bailout.html

Now they are asking for a government bail out to cover the firms failing, share price dropping like stone, pension black hole, asset value tumbling etc. As a taxpayer they can sod off its a private business if it goes to the wall then the buck stops with the management not bank of UK citizen.

Totally agree with TB on this one.

The management is obviously not up to the task so why should the taxpayer foot the bill. We have been burned too often bailing out crappy companies who thought nothing of paying big bucks to the brass and giving a cr*p service to the user.

 

[justintime129]

Totally agree with TB on this one.

The management is obviously not up to the task so why should the taxpayer foot the bill. We have been burned too often bailing out crappy companies who thought nothing of paying big bucks to the brass and giving a cr*p service to the user.

As in my post above I wonder who will foot the bill if the RLUH have to find another contractor to take over from Carillon

 

[Gonterseed]

One of the things that makes contracted out services (to central and local government) completely inefficient and non-cost effective is the regulated tender process that must be followed by any agency funded by tax-payers. Most of the time this simply maintains the layers of outdated standards and bureaucracy - I guess you could say that agile procurement is seen as being too difficult to audit and is therefore avoided by the legacy brain in charge.

I know for a fact that many technology services provided by the likes of BA Systems, BT, Computer Centre and others are completely over-priced and include far too much legacy technology simply because the "experienced" people who are heading up the procurement projects know very little about new stuff and are too "relaxed" to attempt to trust and understand the new-guys who are doing their best to improve stuff. Eventually the new guys (who remain) end up being conditioned into being the dinosaurs that their current leaders are.

 

[Past Engineering]

When I was working, the office Aircon control panel stopped working, I knew about 'approved supplier' list, but apparently there is also 'approved buyer lists' and the firm that supplies the Aircon bits would not sell them to Carillon as they weren't on the list, makes you wonder why.

 

[mick-a-nick]

From persons in the business

From persons in the business

Carillion have been allowed to get too big and borrow far too much money on the back of contracts. Government Contracts on tender should require the company to lodge funds to cover shortfalls in action and be commensurate with contract value. It will be us, the lower echelon that suffer the losses, the bosses have squirrelled their salaries and bonuses already, the hole in the pension fund will not affect them too much. Will be interesting times over the next few weeks, I don't have to worry as there are a lot of other avenues and HS2 will be picked up by others.

 

[80grade]

Can't wait to see the back of this lot.

 

[karate]

Carilion

Carilion

Is this a case of CHEAP and UNFIT for purpose like so many other MOD contracts. Only this one was unable to run late and charge the MOD again and again and again like BAE Systems, Ships and Aircraft?????? It will fly on time and not leak after sea trils???

 

[ScoobTech]

well it's happens they have just gone into liquidation, this morning is going to interesting at work.

 

[Past Engineering]

A large sign went up in Bracebridge Heath about the Eastern bypass, guess who is/was doing it, supposedly going to be finished:

The bypass is being built by UK firm Carillion Construction and will see new roundabouts built at Greetwell Road, Washingborough Road, Lincoln Road, Branston and the A15 Sleaford Road.

The bypass will cost in the region of £99 million with £50m of central government funding, £15m from LCC and £34m from third party developers.
The third party developer’s costs will be forward-funded by the county council as they will take several years to recover, depending on the speed that houses are built.

Supposedly to be completed by end of 2019, with the caveat:

*All future dates are projected and subject to change dependant on external factors.

 

[Stevienics]

MoD claiming business as usual because continuity plans mean that the partner companies (Amey?) will take on the whole responsibility for maintenance.

We'll see.

 

[penfold93]

Just read this article appears CarillionAmey will hopefully be unaffected

 

[justintime129]

How can a company who was in such a financial predicament and whose share price was plummeting downwards still be awarded government contracts