Charles Jillings, CEO of Utilico, energized by strong economic momentum across Latin America. Watch the video here.
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" This has been going on for 5 years or more and there doesn't seem an end in sight. "
I presume you do know that:
1. The people who set up the excessive bonus scheme are gone, and the executive remuneration policy has been sorted out.
2. The new management commissioned an independent report themselves, which they themselves made public, to identify where they needed to improve.
3. They brought in a policy to delay sales until further in the process to help prevent some of these problems, despite this reducing profit.
4. They aggressively went after the fire safety issues, resolving many of them before it ever went public.
5. They were first in the industry (and I don't know if anyone else has done it) to implement a retention policy allowing the buyer's solicitor to retain some of the purchase price until snagging items are resolved.
6. They've changed their approach to leasehold.
7. They've seen a steady rise over the last year in customer satisfaction rankings.
All of these have come within the last 12 months. If you don't think that's a good start, well, I don't know what to say. Will it solve all the problems from past years? Of course not, but they have been working through some of those, too. Will every new house be perfect? Of course not, that's not possible. Will the build quality be of the absolute best? No, but then, they aren't charging "absolute best" prices, either. They are making thousands of homes every year, and not at the top end of the market, which provides an important service, because there's a shortage of homes and most people can't afford "top of the market." If they had perfect build quality they'd price out most of the people who are really glad to be able to buy a PSN home to get on the housing ladder. And most of those people are happy with their new home. Hopefully, with the changes they have been bringing in, that "most" will become an even higher percentage.
But Radio 4 will always be able to find PSN homeowners that aren't happy. That's life. I bought a TW home some years back. Someone didn't even know how to use a spirit level. That's life, too.
not i don't think so , i like the company i think you would see here £40 very soon. PSN got everything product, cash and dividend what not to like .
Personally i'm not paying a cent more in tax until the builder bonuses are all returned in full-100's Millions. I'm not paying a cent more in tax until HMQ and the big landlords admit that they have selfishy taken a generations tax money to DIRECTLY bail out their own asset values and life styles and incomes and position in society. And admit that by redirecting this they have ignorantly and extremely foolishly delayed and also crippled vital green energy investment which was already decades late. Lets also examine exactly how fit for purpose DC and GO are. Also whether they were smoothed into positions of authority by people behind the scenes who are essentially climate change deniers (TMT?)
Lets understand once and for all that the total rescuing of the banking system completely rescued property prices. The pre-bailout value for building sites was anywhere from zero to 10% and that was a cash price since no bank borrowing was available. yes this actually happened!
Now a thing called global warming was going on in the background since well before 2000- FACT. Pre 2008 establishment didn't do much but post 2008 the gov has really screwed the tax payer just to prop up the banking system and the big landlords (property owners and SELLERS) too. So much austerity tax has just gone on this. Why they couldn't have supported property prices at a lower level and have the landlords/sellers/builders suffer losses nobody explains. This would have been much fairer to the tax payer, and house buyers, and certainly no massive cheating bonuses would have been paid to the directors of building co.s/building supply co.s. It not only would have been fairer , it would have meant Green energy build/plan/solving/infrastructure could have gone ahead already decades late- Fact. It is completely unfair that non house owners had to pay higher tax to rescue house owners lifestyle. It's got nothing to do with individual co extremely bad and arrogant behaviour per se. It has to do with morally how can politicians let this unfairness happen and how could they let it happen at such a crucial time.
Before the tax payer bailout the builders would have been near enough insolvent. So how can anybody be ignorant/ brass necked enough to pay themselves a bonus on being completely rescued. It defies any moral examination.
A far better approach imo would have been to partially rescue landlords/sellers and build the green energy infrastructure we need. Double electricity capacity if necessary in total. Make energy cheap and readily available and then you can build the future and also cope with any emergencies-floods,disease,food shortages etc. All sorts of new ideas and possibilities would emerge. But instead the politicians rescued their friends and are on a path to make cheap energy scarce and reduce possibilities and essentially reVictorianise society. Religions/Royals/ certain lawyers love this. Practical people punished. History nobbled
Hi Sunset
I hope you have read TMT's reply and looked up his Ref. What is current news is what has just been published, but could be years old, and you need to qualify "bad stuff surfacing daily" with some evidence.
FinRes due next week when we will no doubt be updated on their progress towards improving quality and customer service.
As an investor in psn I am not supporting them at all. You seem to be under the misconception (like exstatex) that to invest in a company helps them.
To put it another way it makes no difference to their accounts at all (no more than swapping the debt from initially banks to investors) - only concern for the new CEO is we can fire him, along with the Directors who agreed last CEO bonus (all done).
Good idea that you look up the fundamentals - Company floundering? Just look up Margin, Divis and Cash held.
Bol, but please do a little research before posting.
'TakingMyTime'. What I said in my former post is current news. And more 'bad' stuff is surfacing daily. Peeps are waiting up to six months for repairs and this work is not always done successfully. Repair dates are cancelled too. End of the day shoddy work was signed off, and it looks like this is a continuing trend. Take your time to research this and not take as gospel every word the bod tells you. In my opinion, there is only one thing you can do with a rotten apple... This has been going on for 5 years or more and there doesn't seem an end in sight. How in the hell did a company I once bought and sold shares in come to this? Plug one hole and another springs up elsewhere. And one other thing, who votes themselves a pay rise when their company is floundering?