Collapse of Carillion

The spectacular collapse of Carillion shows that the present capitalist system is still working very, very well for those who own and control it.

Friday, 2nd February 2018, 6:13 am
Updated Friday, 2nd February 2018, 6:16 am
'Making tomorrow a better place' says Carillion's slogan...

I refer of course to a whole raft of hedge funds.

Marshall Wade made a huge profit of £19.1 million out of the crash while US investment bank Blackrock made a staggering £16m across its funds.

Here in the United Kingdom hedge funds Thunderbird Partners have reaped in £14m and Immersion Capital are set to rake in around £11.5 million.

It is estimated that these fat cats have made around £300m out of the demise of Carillion.

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How does it all work for these tycoons?

It’s all simple: the hedge fund borrows shares and then sells them.

When the value of the shares fall they then buy them back and can then return the shares to whoever they have borrowed them from, thus making a huge profit.

Having watched in 2014 that Carillion was heading for trouble, these parasites borrowed shares from the company when the value of shares was high and then bought them back when the value crashed.

I find it strange that the tycoons spotted the problems that were arising, then yet for one reason or another the Government missed it all.

You would have thought that our Prime Minister would have been fully in tune as to what was going on.

The bottom line is that everybody else involved with Carillion is in danger of losing their jobs and suppliers of smaller firms will only be paid a penny in the pound for monies that are owed for the work they have done.

Little wonder there is a political uproar, and anger with workers, the trade unions, and we the public.

John Yale

High Green

Heartfelt thanks

Please, could you publish our heartfelt thanks to the gentleman on the escalator in Meadowhall on January 23, for telling me and my carer that the Lyceum Theatre offers the disabled a two-for- one ticket price when booking a show, which we did, having travelled from Pontefract to do it for April 25.

Scooter and wheelchair services were courteous and helpful too, escorting me to our car via a wheelchair.

His information saved us £49.

He lives at Sheffield Lane Top and had recently seen Strangers on a Train at the theatre.

I’ll always appreciate what he did.

I used to live in Sheffield and the friendliness is still there.

Mrs J Spears

Pontefract

Keep dogs on a lead

Darcy, we hope you and Crumble are doing well. All dogs should be on leads at all times, the only way to control them.

I have had a few escapes with my dog, even to the stage where I tell the owners to get them on the lead. They then have trouble catching the dog. I don’t want an injured dog due to somebody else’s fault, or vet’s fees.

Dogs on leads or a hefty fine if caught could be the answer.

Brenda Wilkinson

S10

Byelaws around UK

My dear Brenda Wilkinson (Star letters, January 26), I’m sorry to hear of your husband’s illness and it can’t be easy for you under the circumstances.

The offences you read in my letter of January 19, relate to the byelaws of authorities through out the UK.

The ban on hanging washing out was in a well-to-do part of London, so as to not bring the area down,.

Keep up the reading, Brenda, best wishes.

EB Warris

by email

Not thick, ill-informed

Referring to Mr Palmer’s latest comments about leaving the EU.

Like many others, he seems to think that any of us who wish to remain in Europe look upon leave voters as “thick”.

He couldn’t be further from the truth.

I voted remain and I am still of that opinion although I do confess at the outset like the majority of voters in this country I had very little “information to hand” before casting my vote.

The majority of remainers (not the childish remoaners label) as well as the leave voters aren’t thick – ill-informed, perhaps.

Having said that, anyone who wishes to “walk away now” could easily be perceived as being thick, although I am sure Mr Palmer is not judging by the many letters he has sent in.

The subject is and always has been far too complicated to do as he proposes.

The EU has beenportrayed as some sort of monster. Funny how all of this seems to fit in with Tory thinking, especially the EU vote on legislation to stop tax evasion which will affect our very rich friends who control everything in this country,and led to the “same rich people”funding the leave campaign.

This law comes next year. Another one which I wasn’t aware of until early last year was the EU rulings on immigration, one of the biggest arguments of leavers. In 2004 agreement was made by all member countries on controlling immigration from the EU. Only a couple of countries didn’t implement these rulings, one of which wasBritain,with Mrs May at the time in charge of the home office with the power to control. Truth is she didn’t.

How many people are aware or were aware at voting time of these facts?

I wasn’t. The truth of everything related to the EU was in short supply, They didn’t want the voters to know. These are two of many things not available to ALL of us, yet a non-binding referendum (yes non-binding as the referendum bill states) has been hijacked by the rich to “feather their nests”.

Yet, people like us were left to “advise” the goverment on our views.

As I stated earlier THICK, no, ill-informed YES.

B Heaton

DN5