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Brinkerhoff deal off, and share price way down. In my simple mind, I had hoped to get back some cash on the back of the sale of Brinkerhoff.. BBY is beginning to look like a very poor choice of share for me, and I am beginning to regret buying in. To make matters worse, Carillion has suffered hugely from its association with BBY, and their shares have plummeted too, although their are other reasons to be taken into account.
If they don't sell Parsons Brinckerhoff, wouldn't this trigger breach of bank covenants with debt ot EBIDTA ratios? Any breach of this magnitude would make the company weak in the eyes of their customers when bidding for new projects and contracts. City Analysts are hoping that Carillion would come back to the bidding table if BBY don't sell Parsons Brinckerhoff.
Halt Balfour sell-off, City analyst urges: Balfour Beatty’s future has been thrown into confusion after a leading City stockbroker said investors should block the £820 million sale of Parsons Brinckerhoff.
I fear that there's going to be more bad news coming out of this company. It would be interesting to know what Deloitte or PwC comes out with their findings with regards to outstanding projects, which I don't think will be good, and thus spark demanding resignation of senior BOD. Once the BOD are sacked and they announce the appointment of new BOD, and then and only then I can see this SP going up. I'm too scared to dip my toes on this share at the moment due to recent market sentiment and not in the habit of catching a falling knife.
Sorry forgot -there is no BOD just Steve Marshall
I'm looking for some inspirational profits from this BOD after the Clln deal being called off. Every bit of news is negative since then and there does not seem to be much in the tank. I think they will fall into someone's arms too cheaply now. Let me out of here..
This company at this price can be takeover from other firms I e amec or foreign company. Are bby doing a share buy back due to the sale of amerivan unit?im waiting to top up further if this goes below 1.40
Lego "Should be up to shareholders to decide on a merger." I disagree. The BoD should have their finger on the pulse and know the value of the company so are better able to understand any deal. If they see merit or potential shareholder enhancement then maybe ask the shareholders. It should be a difficult question time for the BoD now to explain the decision and maybe some will be forced on their swords or be pushed. Even so many shareholders wont get back what has been lost but I am assuming that the difficult questions cant be answered. What did Clln see in the firm? There is the potential the the Bod were negligent in their actions, maybe that avenue could be explored even so, a ban is not much compensation to loosing shareholders and prison is rare.
Yeah, meant to type 'this week', sorry, watching too many shares at once.
Sadly another bad news about the Blackpool airport closure! http://www.theguardian.com/business/marketforceslive/2014/oct/08/balfour-beatty-falls-blackpool-airport-closes-sell-note I bet the BOD's are kicking themselves for not agreeing the recent merger and furthermore this proves the BOD was bullshi***** to shareholders when they gave their reasons for refusing the merger and felt they can prosper going alone.
Ex dividend is this thursday these will go lower after that
5.5k in at 170p. Money where my mouth is. And dividend date next week.
The problem with construction company's is that they are construction company's but management company's. Go to any site office and you will find the people running the jobs are now all uni graduates with no experience or any trade background and are unwilling/unable to make a decision when you hit the smallest of problem's. the usual remark is we will talk to the architect and by the time you get a reply 6 weeks have gone by. After years off working in construction it gets a big red X when comes to investing my money.
But simply not true for most - the brain drain is, but a lot of folk go to that london looking for a fortune and wind up living in a hovel or commuting for four hours a day, with the idea that at some stage they can retire to a nice pad in the country, have a nice wife and a horse (or at least a nice horse and a wife). I pay my engineers properly, and I just spoke to a newco that is working on similar stuff to me in terms of disrupting the way that merchant banks strangle everything, and they pay all of their engineers the same (they have required experience) 100K, in an area where a decent four bed house comes in at not far away from 200K. That's how it should be, and if people stop listening to the politicians and press carping on about the land of milk and honey down south, then this country stands a fighting chance again. Oh, and to get back on topic, maybe the issue is not just that the engineers are not top rate, but that they have got fat on government contracts that have no budgetary issues, replace the board with some young blood that can see the wood for the trees and manage a budget!
Hospital pass fails to boost Balfour shares: Balfour Beatty’s £61.5 million sale of its stake in Pinderfields and Pontefract Hospital will not be enough to buoy shareholder confidence following the firm’s profit warning on Monday, analysts have said.
An example and the reason behind the biggest hidden cost of the city, namely it acts as a brain drain on every other sector. Anyone with a first in Engineering knows that over their lifetime the city will pay them at least a factor of ten more than they can earn in engineering.
I just looked back over the broker ratings. What a joke. Surely these analysts know more about a company than we do and they have had £2.50 or so for a couple of months. but check Westhouse securities. I don't know who they are but spot on.
Like many other I guess I need the price to rise another 50p to break even. Do I hold for as few months to get the divi from the sale and in the hope that Clln or others are tempted back or sell out before the next profit warning comes ? All ideas/thought appreciated ! rgds
I really think very soon we will see another bid on the table for BBY. Watch this space 😉
Now live 189
Now brokers are upgrading this. Must admit it has formed a morning star = good sign.
Naughty Balfour Beatty has broken the golden rule: The conceived wisdom is that profit warnings come in three. Well, Balfour has just delivered its fifth in less than two years and is in danger of losing its last smidgen of credibility. Chairman Steve Marshall is on his way out: Thank God for that. Hope for Marshall Plan B? Further reading: http://pinkerspost.com/?p=466
FOUR brokers today say 200p or more. That might help.
I wonder how long any new set of leaders would need to turn this ship round. Will the creditors be patient? Will the shareholders give them the time? Are they now even capable of getting contracts with a reasonable margin anymore? My instincts tell me its time to bail out and suffer the 30% loss. Normally my share choice is for the long term and chosen for pension support dividend. - Missed badly on this one!! Bye folks.
What goes wrong? Count the number of experienced engineers on the main board - the ones who can say "That doesn't look a realistic figure for that kind of operation. Lets look at it more closely". You may find a slight shortage here. Possibly it doesn't matter. After all we have almost no engineering and science qualified MPs in Parliament in the most scientifically dependent century in mankind's history, and they never get involved in ill-conceived losing contracts do they?