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Lupo di mare 21 Jul 2017

Re: Oxfordshire County Council in talks Oh gawd, back to super efficient local authorities trying to manage things.

pasak 21 Jul 2017

Re: Oxfordshire County Council in talks As an Oxford resident and having had dealings with OCC I think it would be good for Carillion if they can get out of some of these contracts as many of them are worse than wafer thin, they are actually loss-making, the principal reason being that Carillion did not make sufficient allowance for health, safety and welfare when the contracts were agreed in 2012.

Rhigos 21 Jul 2017

20.9% of CLLN shares shorted I note from [link] 20.9% of CLLN shares now out on loan for short selling. On Wednesday it was 19.7% so shorters, on balance, not yet taking profits by closing positions but increasing bet that SP will fall further. This bodes very bad for CLLN. I would not be surprised at sub-50p SP next week and if a heavily discounted rights issue announced next month SP of 30p would not surprise me. A 1 for 10 share consolidation may be on cards then to get SP back to 300p. Do not blame hedge funds, they are not the cause of CLLN woes that are largely self inflicted, hedge funds merely profiting from CLLN's poor management IMO. It does mean that more than 30% of long shareholders have decided not to sell. And that excludes retail shareholders that I have confirmed do not loan shares. Taking the long view perhaps in 5 years SP may recover back above a corrected for rights and consolidation equivalent of Jan 2017 SP. That will not be fun for existing CLLN investors.

devonplay 20 Jul 2017

Oxfordshire County Council in talks Oxfordshire County Council in talks over remainder of Carillion contract;[link] he for whom this bell tolls may be so ill, as that he knows not it tolls for him; and perchance I may think myself so much better than I am, as that they who are about me, and see my state, may have caused it to toll for me, and I know not that."News & poetry in one post! DL

deepsleeves 20 Jul 2017

Re: Risk management from the horses mout... Just demonstrates that the only figures to use from a companies accounts are cash and bank balances.Even auditors can usually get those correct. The rest take with a pinch of salt and executive "judgement"Deep

numberbiter 20 Jul 2017

Re: Risk management from the horses mouth Shabby, you are right; what you read in Annual Reports about corporate governance and risk management is usually absolute meaningless garbage; companies use the same template every year. Take it all with a pinch of salt. It must be obvious that the Board only carried out a risk assessment on current contracts when the bank overdraft went sky high and the company's bankers expressed concern.

marktime1231 19 Jul 2017

Re: Risk management from the horses mouth Mostly meaningless boiler plate copied into the annual report by an accountant. The last section of this 2016 declaration is interesting though ...[link] suggests that the unknown Group Head of Risk has put a 3-year forward looking assessment of risks in the business plan to the Board for 2016 report sign off, in which they are confident .. it would be interesting to know exactly who agreed with this assessment, not just the former CFO who was a sleeping fool ...culpable misjudgement?"The Board conducted this review for a period of three years, which was selected for the following reasons:−The Group’s strategic business plan covers a three-year period.−The construction programmes associated with a majority of the Group’s more significant projects often do not exceed a period of more than three years.−Given its business model and the nature of its markets, the degree of confidence that can be placed on the Group’s future revenues diminishes significantly for periods beyond the next three years.The three-year business plan includes information in relation to the Group’s revenues, profits, cash flows, dividends, net debt, and other key financial and non-financial metrics. The business plan includes a level of cover to provide against trading risks and the resulting metrics are subject to sensitivity analysis to illustrate the impact of future deviations in the Group’s liquidity position. The Board has tested the outputs from this plan against the potential impacts from the Group’s key strategic risks both individually and in unison.On the basis of both reasonably probable and more extreme downside scenarios, the Directors believe that they have a reasonable expectation that the Company will be able to continue in operation and meet its liabilities as they fall due over the three-year period of their assessment."

Lupo di mare 19 Jul 2017

Place your bets Fercrying out loud, Lupo, can't you even get the heading right!?Apologies, blame it on being knackered after an intensive tango lesson. Had a pennichella and feeling a whole lot better.

shabby 2 sox 19 Jul 2017

Risk management from the horses mouth Corporate GovernanceRisk Management'Carillion has rigorous operational risk management policies and processes to identify, mitigate and manage strategic Group-wide risks and risks specific to our individual business units and contracts, including economic, social, environmental and ethical risks.Carillion has a Group Head of Risk who is responsible for:- Advising on strategic risks affecting the Group- Conducting independent risk appraisals of all projects prior to them being submitted to the Major Projects Committee, which is a Committee of the Board with delegated authority to sanction major commitments and transactions, including capital expenditure, major contracts and business acquisitions and disposals, up to specified levels of risk, beyond which they are referred to the Board- Overseeing risk training across the Group.Our risk management processes are applied to every aspect of our operations, from choosing the geographies in which we operate, our market sectors and the contracts for which we bid, to the selection of our customers, partners and suppliers. We also apply them to every stage of a contract, from its inception to completion, in order to deliver value-for-money services for our customers and the cash-backed profit we expect.The Board regularly reviews the risks facing the Group to ensure they are up to date and the appropriate measures are in place to mitigate and manage them'.It all sounds so good until it all goes so wrong.

Lupo di mare 19 Jul 2017

Place you bets Is this the top, until September.I'm going for it to fall back to 55p, or so. Just because I suggested it had bottomed last week, doesn't mean to say that I'll call it right twice, as those who've backed my racing tips will testify.

Lupo di mare 19 Jul 2017

Re: Revolting FirstGroup Give 'em time, TX2. Or a tram driver.I don't want to sound bitter, but he shouldn't even be given a job on checkout at B&Q, despite being the right age - nearly.Oh why didn't I spot the issue when he quit so suddenly, I would have looked so clever, AND saved myself a few quid. That should've been the other way round.

TX2 19 Jul 2017

Re: Revolting FirstGroup It could be worse Lupo at least FirstGroup are not giving "fall asleep Adams" a job as a bus driver!

Lupo di mare 19 Jul 2017

Revolting FirstGroup "Bus and transport operator FirstGroup PLC shareholders have revolted against the election of Carillion PLC's former finance chief to its board, according to The Telegraph on Tuesday.About 23% of FirstGroup shareholders have reportedly voted against appointing Richard Adams, who was finance director of Carillion from 2007 to 2016, as an independent non-executive director."Only 23%! I know he'd be only a non-exec, but what use could he possibly be? How to fall asleep on the job?

soi 19 Jul 2017

Re: looking to start shorting again soon HiNever seen a live trade posted by shugger either, although that would be difficult as he is on ignore and has been for some time.Doesn`t have the time to post his own trades live but does have time to knock those who do.Then catches up with his own hindsight trades.If there was a iii Comp for best hindsight trader, he`d be a prime candidate for no.1ATBsoi

Damp Seaweed 19 Jul 2017

Re: looking to start shorting again soon Sorry don't have time to post every trade I do ffs!...=========I can't recall seeing a live trade from you. But you do seem to do a great job of reporting your hindsight trades.