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Yep...I was the accountant for a company that provided the structural steel for Chelsea and Westminster Hospital and Woolwich Prison amongst others. They were huge contracts and we were subbed by I think it was McAlpines at the time. But we had many £10-50 million contracts with the big...

It does. Thanks.

Right...I remember when I worked in the building game how it was financed throughout the lifecycle with valuations and certificates ...and managed to find two companies who were double counting VAT on CERT had Valuation invoicing! Pointed it out to one company that they had double claimed and...

So is this. Wimpey, McAlpines, Molem? Jeez. So the only big one left that is a British company is Balfour Beatty.? Interesting that they were owned millions by the Qataris for the world cup stadiums ...those of us with experience with working in the Middle East know getting money out of them...

You obviously know more about this than most. Do I take it the way PFI works is that the government say " We want a hospital but we are not going to pay any money for it until it is built and signed off" The contractor says " Ok then, we will build your hospital for £500 million , we will...

thanks :bigwave:

....but t again, companies have to be very careful, because if they didn't declare a dividend, then Why would anyone invest in them? It is the way our society works , good or bad and so much is dependant on market confidence.

People are also getting up in arms about awarding contracts to them, but again it is chicken and egg. If the government had turned around and said " you issue a profits warning, therefore no more contracts" there would have been an instant run on their shares, banks etc rushing to pull in...

Or the devolving of public sector works to private companies as the government hasn't the money or the will to pay for them....the government can't afford to buy pencils and books for school s at the moment . This collapse is a lot more serious that people think.

I never understood the principle of PFI, I.e putting all the risk on the company to build something and only getting paid by a mortgage type settlement ...and then having opposition parties whinging that the payments to recouperate and provide a profit for doing it, are far too high. If...