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BBC News: "An emergency Cobra meeting was planned for 18:30 GMT to deal with the fallout."
Fair point Fule - duly noted.
Oh great - I thought I would ask because it seemed you were spoiling for a fight: I think I know what the free market is about buster - just that yout don't. It is not a privilege of loud mouths who lined the funeral route of Thatcher (you there were you?). It is not for loud mouths on boards like this who think a few quid buying a share represents the free market. I will give you the address ot the Prime Minister and you can explain to her why the free market involves removing services from the vulnerable and why she should do more of it. You might even want to draw a picture or two to illustrate your point. Crayons only though.
All true H-hi. Incompetence and comtempt to unheard of levels. Suppose the best thing would be to close all unprofitable things that CLLN were involved in and sod anything or anyone caught up in it.
Your words FD. Still don't get your point - are you spoiling for a fight or something?
Never said that. In fact I said this: "All you say is true about the past running of it, the divis given during meltdown, the length of withholding payment, and the general folik up of it all." Reckon BoD and management are the ones responsible yes, what is your point?
The commanding height argument (currently called 'too big to fail') stretches a long way with CLLN, H-hi. All you say is true about the past running of it, the divis given during meltdown, the length of withholding payment, and the general folik up of it all. I didn't set up the idea of contracting out, DLOs and whatever other money grabbing vehicles there are, but they are here. The system is garbage and whatever contracts go to CLLN competitors doesn't stop the problem of a cr@p system. These things have end clients - patients/prisoners/schoolchildren for example who are now left in the dwang. It will cost the taxpayer loads anyways - just watch who picks up the unprofitable parts of CLLN necessary business. Muggins taxpayer is who. They just didn't say when they were spouting GCSE Economics this weekend. So no, hate the system, hate the complete failure of contracting out to firms like CLLN on a political level. But at the same time hate government negligence even more.
I am assuming I am talking to folks who, even if they lost, are aware of these bazaars and, whilst possibly being thoroughly p1zz3d off by it, have to 'man-up/woman-up' to it. Anyone noticed the real effects of this yet ? Contractors on the Tees an in N. ireland being told not to turn up for work, those on the private line with CLLN being guaranteed only 48 hrs dosh, no guarantee about services except from mealy mouthed sound-bites. This one is not bad luck Theresa - this one is bad judgement, it it was yours (and your hubby probably) who made it. Did he short it? Not a fan of government bail-outs but for heaven's sake - this has the potential for disaster.
Reuters: The government is paying the salaries of Carillion's workers after it collapsed on Monday, but Cabinet Office minister David Lidington said that those private companies employing Carillion would have only two days of government support. "The position of private sector employees is that they will not be getting the same protection that we're offering to public sector employees, beyond a 48-hour period of grace," Lidington told lawmakers in parliament. He said the move would "give time for the private sector counterparties to Carillion to decide whether they want to accept termination of those contracts, or themselves to pay for the ongoing costs." "I think that is a reasonable gesture towards private sector employees," he added. "I think that is a reasonable gesture" my arsg. Still can't believe that HMG think they are going to get away without being blamed for everything. Lost jobs in Labour strongholds per chance? I can think of some reasonable gestures, Lidington, oh, and some not so reasonable ones too.
That's the spirit AP-Invest. Win some / lose some. My mistake was not believing for a second they would go for liquidation - how wrong did I get that. I my defence, m'lud, there was an awful lot of precedent in my favour as I said over the weekend: East Coast Mainline, Banks. I still gawp at the irony of Lloyds and RBS being in the bank consortium that said no and the fact that a small contractor who might not have been paid in 9 months was told to go to work !!! What planet are we on ? No-one will believe anyone on anything on this now - should have thought that Theresa before you pulled the plug because that includes you me dear. Hey Vince, be a good chap and pop off to Liverpool and tell the small sub-contractor what you said yesterday. You, Vince Cable, are up to your armpits in culpability for the existence of this sort of contract - remember you past job?
Lost hardly anything at all GullPat. I took a punt post lunch Friday and even then covered a lot if it by selling some ate nearly 17p. Nice of you to make something up though - you are consistent at least with all the other stuff you have been making up recently.
What gives you the right @illbeta to pontificate and tell people they know nothing about this. You spent the whole weekend saying again and again that there would be a debt 4 equity swap. When others said no, not necessarily, you said it again. Given you were so wrong all weekend, why are you up yourself today ?
Look at the 17:08 RNS Deutsche Bank sold shedloads.
Hard work start for HMG now. They have said they won't be nationalising losses anymore - and that the private sector must stand on its own feet. Reasonable standpoint but somewhat problematic for Theresa and her newbies: i) Most people think that government ran these services anyway and can't get their head around the contracting out that led to the mess. A few ministers around a table on Sunday and a few weeks before that of half-c@cked contingency is not a substitute for the work that CLLN were undertaking. All unfinished projects, collapsed sub-contractors, and increased spending to complete some of the major projects will be blamed on Theresa May. Political suicide. ii) Some of the banks who said no are only there because of huge taxpayer support. In the case of Lloyds, it meant huge transfer of resources from taxpayer to Institutional Investors when government shares were sold to them last year last year. If Lloyds and RBS have future troubles don't expect a bailout from HMG or any sympathy from ex-CLLN share holders.
ITN a few minutes ago reckoned administration most likely. Can't say I trust the quality of their reporting - just being the messenger.
I mentioned it Franel - quite why there was continued sign-off is a mystery unless 'business as usual' was a deliberate ploy. I don't know what was signed-off since it became clear as tp the extent of the troubles - any specifics?
You started the liquidation versus administration chat, buddy, as if it is relevant.
Snige - Iw ould think they would have to be.
And toxic to allow half-finished intrastructure projects wither in the wind until something happens. Damned if they do - damned if they don't.
Been away from the board for a bit - when did the talk of liquidation start? Doesn't matter really, rhetorical statement, it doesn't matter - because there won't be one.