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Mind the transparency gaps in UK public services (both of them) - Open Contracting Partnership Open Contracting Partnership
The example I gave earlier was not hypothetical. Fire safety surveys by a construction company (Carillion) showing defects in a public-private partnership (PPP) hospital where not subject to the FOI regime as they were deemed not to be held directly by the government body concerned (in this case a National Health Service Trust) but by its contractor (the private PPP entity).

The report cites similar concerns with access to information on fire safety from contracted-out local housing trusts in the wake of the tragic Grenfell Tower fire where flammable cladding fuelled the blaze, killing 72 people.  
foi  private  carillion  fire  safety  commercialsensitivity  t 
12 weeks ago by paulbradshaw
Interserve: UK outsourcing giant loses rescue vote - BBC News
Outsourcing giant Interserve has failed to persuade shareholders to approve a rescue plan for the company.

Interserve is expected to go into administration later today, although its contracts are likely to continue as normal and no job cuts are expected.
Carillion  Interserve  Austerity  UK  Privatisation  outsourcing  Council  NHS  G4s  Prison 
march 2019 by asterisk2a
Interserve lenders line up EY as administrator if shareholder talks fail | Business | The Guardian
Lenders to the outsourcing firm Interserve have lined up EY to manage its administration if they cannot reach agreement with shareholders on the terms of a financial restructuring plan.

The emergence of EY as a potential administrator came as the largest shareholder in the company submitted new proposals, including a £75m rights issue, as a counter-offer to the solution put forward by lenders, which it called “an obscenity”.
Interserve  Carillion  Privatisation  UK  Austerity  Council  NHS  Conservative  Tories 
february 2019 by asterisk2a
Troubled government contractor Interserve agrees rescue deal | Business | The Guardian
Company, which has 45,000 employees in UK, hopes to avoid Carillion-style collapse
Shares in Interserve closed down 1.8% at just under 13p. The company was worth as much as £1bn in 2014, but is now worth a little over £20m.
outsourcing  Carillion  Interserve  bailout  Austerity  UK  Council  Privatisation  NHS 
february 2019 by asterisk2a
Interserve: Major government contractor 'seeks second rescue deal' - BBC News
One of the UK's largest providers of public services is seeking a rescue deal as it struggles with £500m of debt, according to the Financial Times.

Interserve, which works in prisons, schools, hospitals and on the roads, said it might look for new investment or sell off part of the business.

Workers at the Foreign Office and the NHS are among Interserve's tens of thousands of UK employees.

The government said it supported the company's long-term recovery plan.
Carillion  outsourcing  Privatisation  Interserve  UK  Austerity  Tories  nasty  party  Conservativ  Council  Bailout 
december 2018 by asterisk2a
Insolvencies in UK building firms rise 20% after Carillion collapse | Business | The Guardian
In a devastating knock-on effect for the sector, a total of 780 companies in the industry fell into insolvency in the first quarter of 2018 – a one-fifth rise on the same period the previous year – the analysis by accountancy firm Moore Stephens revealed. In total there were 2,764 insolvency casualties among building firms in the 2017-18 financial year, up by 6% on the previous 12 months.
carillion  sme 
october 2018 by yorksranter
Outsourcers are facing their own financial crisis | Financial Times
There is a public as well as private interest in sustaining outsourced services — many of which are essential to the public. Mr Soames would like to see the customers behave more leniently // because OF COURSE HE WOULD
coasianhell  outsourcers  serco  carillion 
june 2018 by yorksranter
Work and Pensions and BEIS Committees publish report on Carillion - News from Parliament - UK Parliament
Carillion had a target of 100% cash conversion: for cash inflows from operating activities to at least equal underlying profit from operations. It consistently reported that it was meeting this target. It could do this because the EPF classification allowed it, in cashflow statements, to present bank borrowing as cash inflow from operations, rather than as yet another loan.
carillion  coasianhell  cash  accounting 
may 2018 by yorksranter
Unravelling a web of failures at UK outsourcer Carillion
Whitehall has long favoured the largest contractors, on the grounds that this increases simplicity and reduces risk. That assumption should be binned. So, too, should the identification of lowest price with lowest cost. Keeping suppliers on the lowest possible margins is a big long-term risk.
financialtimes  Carillion  government  transformation  finance  budget  contractors  outsourcing 
may 2018 by benterrett
'Recklessness, hubris and greed' – Carillion slammed by MPs | Business | The Guardian
Frank Field, who chairs the work and pension committee, said: “Same old story. Same old greed. A board of directors too busy stuffing their mouths with gold to show any concern for the welfare of their workforce or their pensioners.”
Carillion  business  outsourcing  bonuses  dividends  pensions  FieldFrank  UK  politics  PwC  KPMG  Deloitte  ErnstYoung  accountants  audit  finance 
may 2018 by petej
Carillion displayed utter contempt for suppliers – Frank Field | Business | The Guardian
Carillion displayed utter contempt for suppliers – Frank Field
Failed government contractor used suppliers to ‘prop up a failing business model’ and conceal true debt, say MPs
Carillion  UK  Privatisation  outsourcing  governance  Tories  nasty  party  Austerity  accounting  Conservative  Council  NHS  Prison 
may 2018 by asterisk2a
Some call it outsourcing. I call it spivvery | Aditya Chakrabortty | Opinion | The Guardian
This is spivvery for which you and I pay billions extra just to get minimal services – it can also lead to a financial fragility at the heart of the firms on which Britain now relies. As noted by Adam Leaver, professor of accounting at Sheffield University, Carillion repeatedly pulled forward hundreds of millions on profits expected from future work, and paid that cash out to shareholders. Since the huge profits it was booking did not exist, it had to borrow the cash it paid out to shareholders – and the debt was secured against goodwill: its brand name, relations with customers and staff. However hard such things are to value, Carillion reckoned that they were worth a tidy £1.57bn. As MPs discovered to their amazement in January, “goodwill” was Carillion’s single biggest asset.
accounts  carillion  capita  assets 
april 2018 by paulbradshaw
Some call it outsourcing. I call it spivvery | Aditya Chakrabortty | Opinion | The Guardian
From issuing parking tickets to evaluating disability benefits, Capita has done it all – just as Carillion did anything from tunnels for HS2 to school dinners in Greater Manchester. Nothing connects these jobs – because the only real specialism these giant outsourcing firms have is to bid for contracts.
crapita  carillion  coasianhell 
april 2018 by yorksranter

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