We may see more Carillion-style collapses and it’s because of this outdated financial model
Like companies the world over, Carillion used Black-Scholes to value securities – a highly risky piece of maths vulnerable to market crashes.
Prem Sikka
A crisis is building around employee pensions and the government are ignoring it
Carillion is just the latest company to jettison its pension liabilities whilst its directors and shareholders make off with the assets.
Carillion could be the spur to radically reform company law. Here’s what’s at stake
Parliament will grill Carillion bosses tomorrow – they may use the opportunity to look at corporate law overall.
The Carillion scandal shows it’s time to end the stitch-up of ‘commercial sensitivity’
To spot disasters before they occur, we need to reform our laws on corporate confidentiality.
The role of accountancy firms in Carillion’s collapse is bigger than we thought
Serious questions need to be asked over the Big Four’s advice to Carillion as a crisis brewed.
Here’s why the Carillion scandal will last for decades
There is little chance of any speedy conclusion to the Carillion scandal: The liquidation will probably run for a decade or more and is likely to generate millions in fees for accountants and lawyers.
Carillion was in dire financial trouble. Why did the government keep awarding it contracts?
The Tories and the company’s auditors have massive questions to answer.
To avoid more collapses like Carillion, put workers on company boards
It’s board had no employees or other stakeholders on it, who might have raised red flags about the company’s activities.
To transform our society we need to radically reform the language of business
We need a new vocabulary of commerce that recognises the role of workers and society in business, not simply profit.
Here are 10 steps to reverse inequality in the UK in 2018
Corporate pay at the top continues to skyrocket whilst average wages stagnate. Let’s do something about it.