Carrilion in trouble

[crankedup]

Outgoings outpacing income e dry month. Slow income on major projects. = £964 million short .
They are considering a call on shareholders to help bolster the finances. Company has been low balling major projects for years, using cheap labour and outing perfectly good decent companies with thier cheapo substitutes with people on rubbish money. Now it seems the business model is unravelling.
Chickens and roosting coms to mind.

[Europa1]

If you're going start a thread ranting about a company, at least spell their name correctly.

[Murph7355]

Never been the same since Dickinson got his pilot's license IMO.

[iphonedyou]

crankedup said:

Outgoings outpacing income e dry month. Slow income on major projects. = £964 million short .
They are considering a call on shareholders to help bolster the finances. Company has been low balling major projects for years, using cheap labour and outing perfectly good decent companies with thier cheapo substitutes with people on rubbish money. Now it seems the business model is unravelling.
Chickens and roosting coms to mind.

It's 'Carillion'.

I can't imagine they've been low-balling major projects for the fun of it, either. Chickens and roosting my arse.

[Rovinghawk]

I'm very familiar with them.

The root cause of their problem is a mixture of incompetence & arrogance. They mostly deserve what's coming.

[2 sMoKiN bArReLs]

Rovinghawk said:

I'm very familiar with them.

The root cause of their problem is a mixture of incompetence & arrogance. They mostly deserve what's coming.

That about sums up all these big companies in the construction/FM arena

[Rovinghawk]

2 sMoKiN bArReLs said:

That about sums up all these big companies in the construction/FM arena

Some are worse than others. Carillion is good at enforcing silly rules & then expecting the subbies to bail them out of self-inflicted problems. Even when told of potential future issues they bury their heads in the sand & are amazed when the predictions come true.

Edited by Rovinghawk on Monday 20th November 19:05

[2 sMoKiN bArReLs]

Rovinghawk said:

2 sMoKiN bArReLs said:

That about sums up all these big companies in the construction/FM arena

Some are worse than others. Carillion is good at enforcing silly rules & then expecting the subbies to bail them pout of self-inflicted problems. Even when told of potential future issues they bury their heads in the sand & are amazed when the predictions come true.

Again, my experience with any one of these. All have bizarre paperwork purely designed to find a reason not to pay.

[dromong]

Murph7355 said:

Never been the same since Dickinson got his pilot's license IMO.

I know a guy who thought Carillion were a Marillion tribute band .

[2 sMoKiN bArReLs]

dro said:

Murph7355 said:

Never been the same since Dickinson got his pilot's license IMO.

I know a guy who thought Carillion were a Marillion tribute band .

Aha, with Trillion as lead singer.

(I heard they made a million, and the album cover was vermilion)

[eharding]

dro said:

Murph7355 said:

Never been the same since Dickinson got his pilot's license IMO.

I know a guy who thought Carillion were a Marillion tribute band .

I knew of a bloke who thought Marillion were a Genesis tribute band. Went by the name of 'Fish', as I recall.

[crankedup]

Europa1 said:

If you're going start a thread ranting about a company, at least spell their name correctly.

I just knew somebody would pick up on that, well done sir. Now anything of substance to add ?

[crankedup]

iphonedyou said:

crankedup said:

Outgoings outpacing income e dry month. Slow income on major projects. = £964 million short .
They are considering a call on shareholders to help bolster the finances. Company has been low balling major projects for years, using cheap labour and outing perfectly good decent companies with thier cheapo substitutes with people on rubbish money. Now it seems the business model is unravelling.
Chickens and roosting coms to mind.

It's 'Carillion'.

I can't imagine they've been low-balling major projects for the fun of it, either. Chickens and roosting my arse.

You are wrong! it’s very well documented regarding this Companies business model. Can’t beleive Ph are so usiness ignorant tbh. Shareholders have been taking a hammering and may be asked to stump up some more cash.

[crankedup]

Rovinghawk said:

I'm very familiar with them.

The root cause of their problem is a mixture of incompetence & arrogance. They mostly deserve what's coming.

Thank the lord somebody talks sense.

[Lotobear]

...you may well be right but much, much, more importantly it's 'Carillion'.

Go to the back of the class and write it out 100 times.

[cherryowen]

By coincidence, a couple of weeks ago my assistant QS popped into my office saying that Carillion have sent us an enquiry and asking if he should price it or if it was going to be dealt with by me.

I said that personally I wouldn't touch it with a barge pole due to i) Carillion's 90 day payment terms for its supply chain and ii) industry reports of their current dire financial issues.

[Dermot O'Logical]

2 sMoKiN bArReLs said:

Rovinghawk said:

I'm very familiar with them.

The root cause of their problem is a mixture of incompetence & arrogance. They mostly deserve what's coming.

That about sums up all these big companies in the construction/FM arena

Indeed, certainly in respect of Facilities Management companies. More to follow, I suspect.

[crankedup]

cherryowen said:

By coincidence, a couple of weeks ago my assistant QS popped into my office saying that Carillion have sent us an enquiry and asking if he should price it or if it was going to be dealt with by me.

I said that personally I wouldn't touch it with a barge pole due to i) Carillion's 90 day payment terms for its supply chain and ii) industry reports of their current dire financial issues.

Clearly most of the posters in here have zero knowledge of this massive Company, surprising.
If shareholders decide not to stump up this will possibly implode the Company causing a major restructuring. With so many major projects in harness this may well result in chaos

[Ekona]

We did some work via another contractor for Carillion a few years back. We refused to work direct as there was no way we were going to wait four flippin’ months for payment. Very glad we did, the contractor we worked for got stuffed big time for six figures.

Poor choices definitely hitting home. Reap what you sow etc.

[anonymous-user]

crankedup said:

You are wrong! it’s very well documented regarding this Companies business model. Can’t beleive Ph are so usiness ignorant tbh. Shareholders have been taking a hammering and may be asked to stump up some more cash.

"usiness ignorant"?