Andy Reilly
15 Jan 2018
Re: A sad day casa - a good post, and it is very sad when a lot of employees and small companies stand to lose out significantly, BUT you have to ask why the government was so slow to pick up on CLLN's financial problems (arent the Tories supposed to be the party of big business and enterprise?) and offer CLLN yet more contracts in the public sector? Hope all goes well, and glad you are able to be phi;osophical about your experience here! ATB
Gooffy
15 Jan 2018
Re: FSA I had globo too and BHR part of my learning experience!!Why didnt the government buy the shares and save jobs, ah its not a bank!!!annoying, labours case for nationilastion strengthened though truth is services would cost a lot more as a lot of it went abroad.Who is looking after the prisoners?
casabanker
15 Jan 2018
A sad day I originally held shares in Tarmac. Tarmac created a house building and construction arm to their core business. Eventually, this arm was sold off and Carillion was established. I held the certificated shares for years and also bought some into my trading account. Consequently, I did not do any research into Carillion's business. For years, it paid excellent dividends. In order to improve my knowledge and widen my equity and investment knowledge, I started subscribing to Money Week. This weekly mag publishes the ten most shorted stocks once a month. About a couple of years ago, Carillion appeared on the list with a 7% level of stock shorted. I immediately sold out and warned on this board about shorters and their sophistication. Indeed, the level of shorting increased to over 20% and I posted here again. The shorters had seen the massive debt pile and also the pension black hole. Carillion's management tried to improve earnings by acquisitions. Unfortunately, acquisitions result in debt as well as increasing income. If profit margins are thin as in the construction industry at this time, the debt pile increases. The issues I look for now in a potential target is debt level, the word acquisitive, pension debt and high dividend rates. This list is, of course not an exhaustive one as there are many other issues to consider but it is a good start in order to protect capital. I have had my disasters and in a loss situation like this, hard as it is, put it down to experience as investing is a learning curve and is never ending. My commiserations, Casa.
stutes
15 Jan 2018
Re: FSA I think there needs to be a Public Inquiry over the accounts, auditors and how the company was allowed to continue to trade without full protection for supply chain and new investors.It should take place ahead of any criminal proceedings.
Kenj2
15 Jan 2018
Re: Capital loss "So sell the shares and report the loss to HMRC and then its registered."How exactly do you sell these de-listed Carillion shares?
bazonka
15 Jan 2018
Re: Capital loss you can claim it any time you liquidate an asset and hold onto the loss until you need to use it.So sell the shares and report the loss to HMRC and then its registered.if you wait until its officially liquidated you can register a "negligable value" claim, which effectively says you still own something which is worthless.This has same effect as a capital loss.Either way it enables you to get back some money when you have a gain to offset that takes you over your cgt allowance
trader jack
15 Jan 2018
Re: shorters "They were betting on the fact that what happened today was going to happen"Shuggie, not so much a bet as having done their homework properly which is more than be said for the authorities and many of us small investors.I was told by the finance director of a hedge fund over a year ago in no uncertain terms not to touch CLLN with a barge pole as it was totally insolvent. I laughed as I was holding 3,548 shares in them at the time. I stopped laughing when the company published their figures and profit warnings last July and managed to get out when the share price was 78p!.At least I had the stomach to take the loss which came to about 70percent of my original outlay but hopefully I can take the profit on some other holdings that allows me to offset some or all of the loss against my 2017/2018 CGT allowance.But at the end of the day a loss is a loss, the warning signs were there many of the hedge funds shorting it up to their limits but in many cases us poorer private investors have neither the knowledge nor the computer skills that the hedgies possess to allow us to match their ability. We have to rely on what we read from anal ist reports or those newspapers that pretend they are on the side of the small investor with their share tips when they scribble their notes directly from information " leaked" to them by the same anal ists or press offices of individual companies.Nothing will change as we are at the bottom of the food chain when it comes to investing. I am starting to rethink my approach and am looking at selling my portfolio and reinvesting the proceeds in some of the major investment trusts, they must always be a better bet than trying to do it oneself.Kind regardsTJ
shugg1e
15 Jan 2018
Re: shorters They were betting on the fact that what happened today was going to happenA fantastic bet from their perspective
FFRREEDDYY
15 Jan 2018
Re: FSA Agreed, FSA not interested, all a joke. Globo was one of mine over a year ago. Emailed for an update regards their investigation recently.Nothing.
pike fisherman
15 Jan 2018
Chairman I can’t help thinking that we should avoid investing in any company with a leader named Philip Green.
devonplay
15 Jan 2018
Re: shorters "last 2 or 3 years why did the authorities not put into place their own investigations"I belive they did and recent contracts for outscourced activity have a clause to stop bidders from being able to treat them as an asset. That is selling them off to creare cash.The question is why more retail investors don't see a significant short position as a red red.I get concerned if the interest goes over a few % Carrillion hasn't served many investors well. IIt's not helping a FTSE on a down day, some would be celebrating this morning, the thing might be now to see where they go next...and best avoid any free lunches. As a none CLLN investor I find myself a few K this morning from the CLLN wake.Unlike some, at least I haven't been caught in this particule sinking ship....but, who knows it might yet suck some more of us down. Time will tell, but if it's connected and suddenly looks cheap, personaly I'll be giving it a miss.DL
Gooffy
15 Jan 2018
FSA I was in this sad to see it go bustIts fraud in my view but nothing happens does it.Auditors should be accountable and fined heavily if at fault.Directors should be locked up if negligent.why doesn't it happen, until it does these directors will move elswhere and cause the same problems Britain can do without it.
carol conneely
15 Jan 2018
Re: Nationalisation Totally agree! 👍
trader jack
15 Jan 2018
Re: shorters What intrigues me is that when hedge funds had been widely reported as shorting CLLN over the last 2 or 3 years why did the authorities not put into place their own investigations?After all, these hedge funds were not just taking an amateurish " punt" but every one had done a lot of very hard work dissecting Carillion's reports and accounts to arrive at the decision that the figures published just did not add up properly and took the decision to start shorting the shares.Surely those agencies who are supposed to protect both public and private interests should have been put on notice and done more?Heads should roll and criminal charges should be brought against the direcors both past and present , the management and also the auditors who signed off CLLN accounts.TJ
Clitheroekid
15 Jan 2018
Re: pity i didnt keep my short open Crowing about how you made money shorting this share when many decent investors have lost a lot of money is somewhat insensitive, to put it mildly. There are times when it's better just to keep quiet.
