http://www.bbc.co.uk/news/business-42687032
"Construction giant Carillion is to go into liquidation, threatening thousands of jobs."
Why has Carillion PLC collapsed?
One of its many problem projects was the £335m Royal Liverpool Hospital. The Completion date was repeatedly pushed back amid reports of cracks in the building.
A lot of the concrete was not properly pre-treated beforehand. This was down to the decision of the directors. Almost all the directors/managers running this site were incompetent. They had been brought up from the South of England by their mates to get paid.
The articles says
One company, which provided services for Carillion's prisons contract, told the BBC that it might fail if it is not paid the £80,000 owed to it.
Only £80,000? Waow! Carillion pays it horde of directors and managers on each site £50-100sK bonus' every few months or phase despite the actual work done.
Another quote from the article...
"You've got to treat yourself much more as a branch of the public service, not as a private company just there to enrich the shareholders and the directors,"
If only someone had told them not to pay themselves for positions they shouldn't have been hodling.
Carillion PLC has been in the ground for some time now. It is just a vehicle to extract money from the tax payer.
@RiskDebonair
Irish Writer, Poet, & Lover