Jump to content
House Price Crash Forum

Recommended Posts

1 hour ago, crazypabs said:

does anybody know which are the major banks financing Carillion , what kind of hit to their balance sheet will this make?

Lloyds and RBS have already written off loans before christmas but not revealed their total exposures to carillion.

https://www.bloomberg.com/news/articles/2017-11-24/lloyds-rbs-bad-loan-surge-is-said-to-be-driven-by-carillion

Link to post
Share on other sites
  • Replies 462
  • Created
  • Last Reply

Top Posters In This Topic

10 hours ago, spyguy said:

Its levied on pensions funds.

The well funded, better run compnay pensions bail out the feckless fuxxed like BHS and Carillion.

Not really true - as the PPF is basically like a big insurance scheme for pension funds the majority of the PPF levy is risk-based.  So the companies/funds in trouble pay MUCH bigger levies than those that are well run.

Link to post
Share on other sites
9 hours ago, stop_the_craziness said:

So lets now cancel HS2 and that;s £100 billion saved .

So why don't we have a national prioritised list and just work down it?  So I'd imagine the nhs and homelessness would be at the top and HS2 near the bottom.  That we don't screams corruption.  I would like to say stupidity instead of corruption but these people are not that kind of stupid so what's left?

Then there's aid, htb, etc but that's for another day.  These people best work on one thing at a time.

Edited by Fence
Link to post
Share on other sites
10 hours ago, Agentimmo said:

I believe that even if Brown (or whoever was PM at the time) had wanted to let RBS go bust, they wouldn't have been allowed to make that decision.  Too many vested interests within the elites and money men. 

The threat of being killed or your close family being killed narrows the mind......

No use point that out to Spyguy - Brown is responsible for everything - including WW2, the Black Death and the the crucifixion of Jesus. Brown is a Hitler, Stalin and Pol Pot mashup for SG and will bring forth the end of civilisation.

 

 

Link to post
Share on other sites
10 hours ago, stop_the_craziness said:

This is my favourite thing that has been written about the whole sorry mess so far.....and it's from the Daily Mail comments section.  :lol:  Who knew such humour and wisdom could come from such an unexpected source?

"So lets now cancel HS2 and that;s £100 billion saved . If people need to be able to get from Birmingham to London 20 minutes sooner , then catch an earlier train"


 

 

 

I'd like to know what it would cost to build a normal speed railway. They always say they're building it because we need the capacity. But the current cost of the high speed proposal is about £300 million per mile. That just sounds bonkers to me.

 

Link to post
Share on other sites
17 hours ago, Errol said:

'Like a Ponzi scheme'

The Financial Times explains why Carillion went into liquidation, rather than the more common administration.

It was paying out dividends from increasing debt, and allowing the final salary pension deficit to widen, so there are parallels. Vince Cable was pointing out the nonsense of their dividend policy on the news last night. As a company they were caught between a rock and a hard place, cancel the dividend and the share price would have gone to zero much quicker. There are much bigger companies with much higher pension deficits, BT with its 15 billion shortfall comes to mind.

If BT cancelled its dividend and made up the 15 billion shortfall over several years, the shares would meantime plummet and the entire company would be under threat including the pension fund. There are no easy answers once you have let debts spiral.

Link to post
Share on other sites
12 minutes ago, crashmonitor said:

It was paying out dividends from increasing debt, and allowing the final salary pension deficit to widen, so there are parallels. Vince Cable was pointing out the nonsense of their dividend policy on the news last night. As a company they were caught between a rock and a hard place, cancel the dividend and the share price would have gone to zero much quicker. There are much bigger companies with much higher pension deficits, BT with its 15 billion shortfall comes to mind.

If BT cancelled its dividend and made up the 15 billion shortfall over several years, the shares would meantime plummet and the entire company would be under threat including the pension fund. There are no easy answers once you have let debts spiral.

A bit like house prices and the "economy"

Edited by TheCountOfNowhere
Link to post
Share on other sites

I remember very enticing hmv dividends a few years ago when the market had tanked.... Obviously warning lights all over but definitely feel more sorrow or sympathy for them then these glorified middle men race to the bottom value destroyers

Edited by Dogtanian
Link to post
Share on other sites
5 minutes ago, Dogtanian said:

I remember very enticing hmv dividends a few years ago when the market had tanked.... Obviously warning lights all over but definitely feel more sorrow or sympathy for them then these glorified middle men race to the bottom value destroyers

Yeah, all those people saying, oh look at my 5% dividend from Carillion must be licking their wounds now.

Right now, everything is about wealth preservation, nothing else.

 

Link to post
Share on other sites
56 minutes ago, oldsport said:

I'd like to know what it would cost to build a normal speed railway. They always say they're building it because we need the capacity. But the current cost of the high speed proposal is about £300 million per mile. That just sounds bonkers to me.

 

How much would Hyperloop cost? One that could take HGV lorries might be fun.

Link to post
Share on other sites
2 hours ago, Fence said:

So why don't we have a national prioritised list and just work down it?  So I'd imagine the nhs and homelessness would be at the top and HS2 near the bottom.  That we don't screams corruption. 

Two points:

1. We do not all agree on the specifics of the priorities - for example, we all think the NHS should be well funded....but what *exactly* should the NHS provide?  What about experimental treatments with low success probability (but that still can save some lives)?  Treatments of self-inflicted problems?  etc etc

2.  Is it right to spend NOTHING on anything that isn't top priority?  For example, is it OK for rail services to be in absolute chaos because rail is no.3 on the list and we're still on no.1 and 2?

Link to post
Share on other sites
17 hours ago, winkie said:

.......so how will this impact on other businesses and suppliers?.......a domino effect?;)

Interesting. I wonder if they were pushing their margin problems down the chain ? One example I saw re cash flow management  was payment terms at 120days. Are their capital builds are upto standard. I guess that might come out later? 

Edited by Ash4781
Link to post
Share on other sites

An ex colleague of mine held a senior finance position in one of the northern train companies. 

The train company had undertaken a number of surveys and studies and consistently found that its activities made no economic sense. the £300mn for a mile of track above makes that point. My colleague told me that the train company would save money if, on its night trains, it offered every customer a chauffeur driven Rolls Royce instead of actually running the train. 

In a brainstorming session one member of staff had proposed pulling up all the rails, tarmacing the railway and offering it to bus companies and haulage companies as an alternative to the road network. That was proposed as the best and most efficient use of the infrastructure.

 

Link to post
Share on other sites
12 hours ago, stop_the_craziness said:

This is my favourite thing that has been written about the whole sorry mess so far.....and it's from the Daily Mail comments section.  :lol:  Who knew such humour and wisdom could come from such an unexpected source?

"So lets now cancel HS2 and that;s £100 billion saved . If people need to be able to get from Birmingham to London 20 minutes sooner , then catch an earlier train"


 

 

 

But how much has been spent ALREADY on HS2, before a single sod has been dug?

Link to post
Share on other sites
18 hours ago, stormymonday_2011 said:

Nothing to do with the £500 million they spunked away in the Middle East then.

 

Just a coincidence Chris Grayling was recently in a certain middle eastern country, in which carillon had written of a lot of money owed to it from that government?

Link to post
Share on other sites
1 hour ago, oldsport said:

I'd like to know what it would cost to build a normal speed railway. They always say they're building it because we need the capacity. But the current cost of the high speed proposal is about £300 million per mile. That just sounds bonkers to me.

 

It is bonkers.  The money would be better spent building tube systems for non-London cities.

Link to post
Share on other sites
29 minutes ago, Ash4781 said:

Interesting. I wonder if they were pushing their margin problems down the chain ? One example I saw re cash flow management  was payment terms at 120days. Are their capital builds are upto standard. I guess that might come out later? 

Remember Tescos?

Link to post
Share on other sites
7 minutes ago, MancTom said:

Just a coincidence Chris Grayling was recently in a certain middle eastern country, in which carillon had written of a lot of money owed to it from that government?

Clever.  Juicy.  Let's see how our wonderful press behave.  Maybe something on Sunday?  Maybe nada, ever, or until we're all too old.

Link to post
Share on other sites
29 minutes ago, regprentice said:

An ex colleague of mine held a senior finance position in one of the northern train companies. 

The train company had undertaken a number of surveys and studies and consistently found that its activities made no economic sense. the £300mn for a mile of track above makes that point. My colleague told me that the train company would save money if, on its night trains, it offered every customer a chauffeur driven Rolls Royce instead of actually running the train. 

In a brainstorming session one member of staff had proposed pulling up all the rails, tarmacing the railway and offering it to bus companies and haulage companies as an alternative to the road network. That was proposed as the best and most efficient use of the infrastructure.

 

Once self driving little Noddy Uber cars are a viable option then passenger railways are finished. 

A decade? Maybe two and the proposal will be reality. That member of staff is a visionary, hope they get an OBE. 

Link to post
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Loading...
  • Recently Browsing   0 members

    No registered users viewing this page.

  • 415 Brexit, House prices and Summer 2020

    1. 1. Including the effects Brexit, where do you think average UK house prices will be relative to now in June 2020?


      • down 5% +
      • down 2.5%
      • Even
      • up 2.5%
      • up 5%



×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.