Tuesday, 11 July 2017

Carillion's Share Price & other comments

 N.V. Editor:  
  Yesterday, Construction News reported:  
' “Grisly” is how one analyst described Carillion’s profit warning this morning.  
Hargreaves Lansdown senior analyst Laith Khalef was speaking after the Wolverhampton-based contractor issued a profit warning on contracts worth £845m, which could cost the business up to £150m in 2017 and 2018. Chief executive Richard Howson has stepped down with immediate effect, Carillion Building managing director Phil Wakefield has left the company after more than a decade leading the division, and a “comprehensive review of the business” will be undertaken.'
Below also is yesterday's website response of the well-know whistle-blower, Alan Wainwright, on the now notorious Consulting Association blacklist in the British building trade:  Her's what he has to say about Carillion:
As Carillion collapses and Howsen resigns, let us not forget all their lies in relation to the blacklisting.

It's all HERE

On 1 October 2016 Sky News reported that Carillion's Chief Executive, Philip Green had been in talks with Teresa May about a role advising her on 'responsible business'.
Sky News Report - 1 October 2016 
The report also revealed that Mr Green had been advising David Cameron on 'corporate social responsibility' during his tenure.
This beggars belief!
Now Carillion's position...
"Crown House, the only Carillion subsidiary to use the Consulting Association's database, stopped doing so back in 2004. The practice was proactively stopped because the HR manager responsible for checking the database believed it was wrong."
...is a total pack of lies.
I set out all the facts and evidence disproving their lies in my three letters to Philip Green and the other Carillion non-executive directors in January, March and April 2016.
You can view all three letters and the evidence HERE 
This was ignored by Mr Green, all the other Carillion non-execs, and the politicians who were copied in on this (see below).
This was recently highlighted to my MP, David Hanson in October 2016, who subsequently wrote to the Prime Minister highlighting the facts. The PM responded in late October 2016, stating that she had referred this to the business department.
Over three months has now passed and no further response has been received to date. David has therefore submitted a formal written question to the Secretary of State for Business, which can be viewed HERE 
Okay, so I expect nothing less from the Tories who are quite happy to turn a blind eye to Carillion's lies, but look who else was copied in on the correspondence over a year ago and did nothing about it.
Pete Wishart - Chairman of the Scottish Affairs Select Committee
Jim Eadie - Infrastructure and Capital Investments Committee
John McDonnell - Shadow Chancellor of the Exchequer

Steve Mogford - Carillion Non-exec
Andrew Dougal - Carillion Non-exec
Alison Horner - Carillion Non-exec
Ceri Powell - Carillion Non-exec
Keith Cochrane - Carillion Non-exec
Meanwhile, Sam Dean and Rhiannon Bury in the Daily Telegraph report::):
Hedge funds pocketed huge windfalls yesterday after more than £300m was wiped off Carillion’s stock market value on Monday as the building contractor warned on profits, axed its dividend and parted company with its chief executive.
Carillion is the most shorted stock in the FTSE 250, with more than 25pc of its shares on loan to short-sellers. Its shares crashed 39.04pc at 117.1p, shedding £322.6m in value.
Short-sellers make one-way bets that a company’s share price will fall rather than rise, profiting when it does so.

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