Thursday, Jul 03, 2008
Should've put some money aside instead of frittering it on executive bonuses ...
Guardian: Barratt culls 1,000 jobs
Barratt, like other housebuilders, is struggling to cope with a 60% dive in housing starts since June last year. It is also weighed down by £1.8bn of debt, which has combined to push down its share price by 84% in two months to 42p.The company held meetings at hotels around the country today at which staff were told of the changes.
Posted by paul @ 08:38 PM (349 views) Add Comment
3 Comments
- If you do not have an admin password leave the password field blank.
- If you would like to request a password allowing you to add comments and blog news articles without needing each one approved manually, send an e-mail to the webmaster.
- Your email address is required so we can verify that the comment is genuine. It will not be posted anywhere on the site, will be stored confidentially by us and never given out to any third party.
- Please note that any viewpoints published here as comments are user's views and not the views of HousePriceCrash.co.uk.
- Please adhere to the Guidelines
1. paul said...
Oh I see little professor covered this earlier today - sorry.
2. denzil said...
The thing that really amazes me about this is how they did not see this coming. Seasoned bloggers on here have been predicting the flow of events for sometime. The concept of "credit crunch" was discussed on here way before the mainstream "cut 'n' paste" journos even got a whiff of it.
The last few years has seen collective denial from professionals who really should have know better or maybe they did and they just thought, sod it, I'll take the risk and live with the consequences later.
On a related point, Darling was meeting with various financial folk to see if they could figure out ways to identify future "credit crunch's". A bit like an early warning system. My advice to Darling is, read this blog.
3. deepak said...
Actauuly barratt shares have fallen 97% . I have just posted a blog for this.
I also feel that all people say things changed last July-Aug.
But according to me it was Feb 2007 when the whole thing started.
Have a look at even Northern rock prices they also peaked in Feb 2007 like barratand host of banks.