Capita to offload Parking Eye |
Capita to offload Parking Eye |
Wed, 31 Jan 2018 - 09:25
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#1
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Member Group: Members Posts: 401 Joined: 4 Nov 2007 Member No.: 15,070 |
I've not looked if the mainstream media have gone into this much detail on the trading update, as I've read it on the new CEO's internal memo, but Parking Eye is to be offloaded as part of the restructure.
QUOTE We have identified a small number of quality businesses, including ParkingEye and Constructionline, that do not fit with our core business, for which there will be better owners and a process to maximise value will commence shortly. |
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Wed, 31 Jan 2018 - 09:25
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Advertise here! |
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Wed, 31 Jan 2018 - 09:45
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#2
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Webmaster Group: Root Admin Posts: 8,205 Joined: 30 Mar 2003 From: Wokingham, UK Member No.: 2 |
I suppose that means we'll be back to the days of threatening letters to Pepipoo from their solicitors once corporate reputation ceases to be an issue again...
-------------------- Regards,
Fredd __________________________________________________________________________
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Wed, 31 Jan 2018 - 10:05
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#3
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Member Group: Members Posts: 9,985 Joined: 20 Aug 2008 Member No.: 21,992 |
I wonder if they've looked at the fact that the new Government proposals might mean they'll have a proper regulator instead of the BPA and forecast a distinct downturn in PE's profits?
-------------------- Sometimes I use big words I don't understand in an effort to make myself sound more photosynthesis.
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Wed, 31 Jan 2018 - 10:32
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#4
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Member Group: Members Posts: 4,126 Joined: 31 Jan 2018 Member No.: 96,238 |
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Wed, 31 Jan 2018 - 11:32
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#5
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Member Group: Members Posts: 4,337 Joined: 4 Jan 2007 Member No.: 9,897 |
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Wed, 31 Jan 2018 - 11:43
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#6
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Member Group: Members Posts: 56,194 Joined: 9 Sep 2003 From: Warwickshire Member No.: 317 |
I guess all the 'assets' PE claimed to have (unpaid tickets) weren't quite realised as planned.
So, PE was started with seed funding from the labour government, grew to be one of the biggest players in the game, company started to get quite litigious, sld by the founders/owners to Crapita for a thick wedge with a balance sheet full of assets (possibly not mentioning that the return on investment in litigation was quite small), now Crapita are seeking to offload in a fire sale. Doubt they will get their £57M back. I wonder who the winners are? I wonder if the CEO was fed up with those emails...... This post has been edited by The Rookie: Wed, 31 Jan 2018 - 11:57 -------------------- There is no such thing as a law abiding motorist, just those who have been scammed and those yet to be scammed!
S172's Rookies 1-0 Kent Council PCN's Rookies 1-0 Warwick Rookies 1-0 Birmingham PPC PCN's Rookies 10-0 PPC's |
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Wed, 31 Jan 2018 - 11:45
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#7
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Member Group: Members Posts: 401 Joined: 4 Nov 2007 Member No.: 15,070 |
Just be thankful you don't work there & took notice of Andy Parker's grinning face on the Employee Share Ownership Brochure when the price was £10+
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Wed, 31 Jan 2018 - 13:34
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#8
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Member Group: Members Posts: 4,337 Joined: 4 Jan 2007 Member No.: 9,897 |
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Wed, 31 Jan 2018 - 14:14
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#9
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Member Group: Members Posts: 56,194 Joined: 9 Sep 2003 From: Warwickshire Member No.: 317 |
-------------------- There is no such thing as a law abiding motorist, just those who have been scammed and those yet to be scammed!
S172's Rookies 1-0 Kent Council PCN's Rookies 1-0 Warwick Rookies 1-0 Birmingham PPC PCN's Rookies 10-0 PPC's |
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Wed, 31 Jan 2018 - 15:33
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#10
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Member Group: Members Posts: 401 Joined: 4 Nov 2007 Member No.: 15,070 |
I particularly like The Register's description on the announcement.
QUOTE In a **** sandwich, containing very little bread, Lewis said: https://www.theregister.co.uk/2018/01/31/ca...profit_warning/ |
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Wed, 31 Jan 2018 - 15:46
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#11
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Member Group: Members Posts: 4,337 Joined: 4 Jan 2007 Member No.: 9,897 |
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Wed, 31 Jan 2018 - 18:58
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#12
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Member Group: Members Posts: 41,503 Joined: 25 Aug 2011 From: Planet Earth Member No.: 49,223 |
I hear rumours that a certain fish and chip shop owner is contemplating buying them.
-------------------- RK=Registered Keeper, OP=Original Poster (You!), CoFP=Conditional Offer of Fixed Penalty, NtK=Notice to Keeper, NtD=Notice to Driver
PoFA=Protection of Freedoms Act, SAC=Safety Awareness Course, NIP=Notice of Intended Prosecution, ADR=Alternative Dispute Resolution PPC=Private Parking Company, LBCCC=Letter Before County Court Claim, PII=Personally Identifiable Information, SAR=Subject Access Request Private Parking - remember, they just want your money and will say almost anything to get it. |
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Wed, 31 Jan 2018 - 19:04
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#13
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Member Group: Members Posts: 4,337 Joined: 4 Jan 2007 Member No.: 9,897 |
I heard that ratchael was counting up all her £50 fees
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Wed, 31 Jan 2018 - 21:03
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#14
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Member Group: Members Posts: 353 Joined: 19 Dec 2017 Member No.: 95,634 |
I seem to remember they got charged 1m for messing the London Congestion Charge scheme.
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Wed, 31 Jan 2018 - 22:26
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#15
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Member Group: Members Posts: 4,126 Joined: 31 Jan 2018 Member No.: 96,238 |
Carillion then Capita
Audited by KPMG doesn't appear to be a reliable indicator of financial health |
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Thu, 1 Feb 2018 - 07:04
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#16
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Member Group: Members Posts: 56,194 Joined: 9 Sep 2003 From: Warwickshire Member No.: 317 |
Crapita are in nowhere near as deep a poo as Carillion, the new chief exec is following a fairly common practice and getting ALL the bad news out at once, stopped dividends for a year or two, reducing the burden from the pension deficit and giving him some cash to start getting good news out in about two years, it’s what Carillion should have done 3 years back but instead used the bucket of sand approach.
-------------------- There is no such thing as a law abiding motorist, just those who have been scammed and those yet to be scammed!
S172's Rookies 1-0 Kent Council PCN's Rookies 1-0 Warwick Rookies 1-0 Birmingham PPC PCN's Rookies 10-0 PPC's |
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Fri, 2 Feb 2018 - 00:29
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#17
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Member Group: Members Posts: 2,167 Joined: 5 Aug 2006 Member No.: 6,999 |
I hear rumours that a certain fish and chip shop owner is contemplating buying them. Reminds me of the story that Ted Nugent tried to buy Muzak to shut it down - Kickstarter anyone? A few carefully-flawed cases to set precedents to wipe out the whole industry perhaps.. |
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Fri, 2 Feb 2018 - 05:42
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#18
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Member Group: Members Posts: 56,194 Joined: 9 Sep 2003 From: Warwickshire Member No.: 317 |
They made £6.5M in 2016, I’m not sure you’ll raise enough through a kickstarter to cover that!
-------------------- There is no such thing as a law abiding motorist, just those who have been scammed and those yet to be scammed!
S172's Rookies 1-0 Kent Council PCN's Rookies 1-0 Warwick Rookies 1-0 Birmingham PPC PCN's Rookies 10-0 PPC's |
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Sat, 3 Feb 2018 - 17:43
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#19
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Member Group: Members Posts: 2,356 Joined: 30 Jun 2008 From: Landan Member No.: 20,731 |
Carillion then Capita Audited by KPMG doesn't appear to be a reliable indicator of financial health Not any more than a credit rating is... Audit opinions are not guarantees, which should be fairly evident from reading one: QUOTE We have audited the accompanying balance sheet of X Company as of December 31, 20XX, and the related statements of income, retained earnings, and cash flows for the year then ended. These financial statements are the responsibility of the Company's management. Our responsibility is to express an opinion on these financial statements based on our audit. We conducted our audit in accordance with auditing standards generally accepted in XXXX. Those standards require that we plan and perform the audit to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audit provides a reasonable basis for our opinion. In our opinion, the financial statements referred to above present fairly, in all material respects, the financial position of X Company as of [at] December 31, 20XX, and the results of its operations and its cash flows for the year then ended in conformity with accounting principles generally accepted in XXXX. --Churchmouse |
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Sun, 4 Feb 2018 - 13:08
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#20
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Member Group: Members Posts: 9,985 Joined: 20 Aug 2008 Member No.: 21,992 |
I heard that ratchael was counting up all her £50 fees Rachel must be a multi-billionaire by now, surely she she could buy them out? -------------------- Sometimes I use big words I don't understand in an effort to make myself sound more photosynthesis.
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