Alaric wrote:One of the regular Guardian columnists has noticed that Carillion is in trouble.
https://www.theguardian.com/commentisfr ... ayers-bill
It's a valid point in the piece though, how entwined is Carillion in all sorts of public sector or near public sector projects? Were it to be taken into State ownership to safeguard these projects, what sort of price, if any, might existing shareholders see?
Why not just put Carillion into administration and get the debts and pensions monkey of the back of the business. That's what administration is for.
It's always worth remembering that the business is separate from the company that contains it. Once it goes into administration, the administrators can run the business or it can be pre-packed into another shell for £1. The creditors and the remaining shareholders then take the appropriate cold bath.
Capitalism without bankruptcy is like Catholicism without hellfire. It doesn't work as a concept.