tag:blogger.com,1999:blog-8764541874043694159.post4442801184102047168..comments2024-03-28T12:23:39.665+00:00Comments on Coppola Comment: The misery of MitieFrances Coppolahttp://www.blogger.com/profile/09399390283774592713noreply@blogger.comBlogger5125tag:blogger.com,1999:blog-8764541874043694159.post-69226756182541826112018-02-16T21:13:11.835+00:002018-02-16T21:13:11.835+00:00Frances - thanks for that excellent analysis which...Frances - thanks for that excellent analysis which as you say could be applied to <br />many of today’s outsourcing groups with their dogs’ breakfasts of businesses. <br />It’s a sector I’ve had too much involvement with over the last 20 plus years. <br /><br />It’s been obvious to me that as you say, the idea that these organisations can <br />manage all these different activities competently is ludicrous. It flies in the face of <br />the same basic principles of business strategy that I too learnt many years ago. In <br />the early days of outsourcing it was about giving work to specialists but not any <br />longer.<br /><br />However, you’ve actually illustrated just what their core competence is - or rather <br />incompetence. Extracting as much value out of the business as possible, for the <br />benefit of shareholders and directors, regardless of the consequences for staff, <br />customers, pensioners or the medium/long term health of the business. ‘Value’ <br />being a fancy word for finding anyway possible for fiddling the books and structure<br />to extract as much cash as possible.<br /><br />So their ‘core incompetence’ is financial engineering, aided and abetted by those <br />specialist engineers, PWC, KPMG, E&Y et al, who seem more than happy to sign off <br />the books of firms that are patently in the process of becoming insolvent. The words <br />accountant and accountability seem to be mutually exclusive<br /><br />Keep digging please - this is a rich seam to mine and it needs exposingRobinShttps://www.blogger.com/profile/13095425089112365604noreply@blogger.comtag:blogger.com,1999:blog-8764541874043694159.post-77365804334580220152018-02-13T16:54:02.851+00:002018-02-13T16:54:02.851+00:00I think these operations preformed a major sociolo...I think these operations preformed a major sociological goal of the British state , that is full employment and economic servitude given the level of duplication in " The Office" type of banality - for some reason the state wishes to divert robotens into other activties - I suspect because of military pressures.The Dork of Corkhttps://www.blogger.com/profile/01118115538944689118noreply@blogger.comtag:blogger.com,1999:blog-8764541874043694159.post-23529731004859902232018-02-12T19:06:14.910+00:002018-02-12T19:06:14.910+00:00"all the above and more! Totally overburdened..."all the above and more! Totally overburdened with incompetent middle management and desk bound pen pushers, internal audits!?.... works of fiction! Short shares. Conhttps://www.blogger.com/profile/17722981125138822501noreply@blogger.comtag:blogger.com,1999:blog-8764541874043694159.post-58815077154441051612018-02-12T13:00:16.764+00:002018-02-12T13:00:16.764+00:00In the PFI contracts I acted on (for an FM provide...In the PFI contracts I acted on (for an FM provider) there were penalties for poor performance. My client (and its financiers) was pretty careful to make sure they would make a proper profit on its service charges, so the risk was in poor performance rather than normal payment. It's not all that hard to price this sort of stuff as it is largely routine and the costs predictable. The users are generally pretty institutional and should be reliable payers. Does the huge shortfall Mitie is not extracting from its customers perhaps indicate that it is performing very badly? Its unpaid subcontractors might be on a go slow!Georgehttps://www.blogger.com/profile/06383490762960649540noreply@blogger.comtag:blogger.com,1999:blog-8764541874043694159.post-29698659420193068842018-02-12T12:05:09.457+00:002018-02-12T12:05:09.457+00:00At ground zero l can confirm your diagnosis, Staff...At ground zero l can confirm your diagnosis, Staff and contractor ( partners..." said laughingly!") Are being squeezed to bursting with extra demands in none specific fields. Staff morale is at gutter level. The days of this cash cow are numbered as it makes its way to the slaughter house.Short shares. Conhttps://www.blogger.com/profile/17722981125138822501noreply@blogger.com