黑洞社区

Board games

Interserve鈥檚 penniless shareholders were reminded not to attend an EGM that had been scheduled for Tuesday just gone. It was about the future of the board and whether they should all be got rid of, bar chief executive Debbie White. Administrator EY said: 鈥淭he proposed resolution has become irrelevant.鈥� Some might be tempted to add: 鈥淩ather like Interserve鈥檚 board, now the lenders own it.鈥�

Writing on the wall

A couple of colleagues recently popped over to the base of Homes England in London鈥檚 Victoria. Windsor House, it has to be said, is not the most attractive place to be billeted in, an 18-storey, dark brown glass and concrete lump built in 1973. But inside it鈥檚 been done up rather nicely in pale greens, oranges and yellows. It also has the near-obligatory mission statements dotted throughout on its walls. Handy reminders when tasked with helping deliver 300,000 homes a year. 

The right connections

Speaking of mission statements, the chief executive of Wates, David Allen, tells my hack that it can improve its margins beyond the current 2.4% next year by seemingly invoking the spirit of the National Grid. 鈥淚t鈥檚 just trying to make sure all of our business is hooked up in a positive way.鈥�

Something of a draft 

Lots of assumptions are being made in Transport for London鈥檚 latest draft budget regarding Crossrail. It says TfL will be down 拢600m because the scheme is running late. It does assume it will be taking over running of the Paddington to Reading stretch of the line at the end of the year and the scheme will be within its revised 拢17.6bn budget. This time last year, it was getting ready to open at the end of 2018 and had a pricetag of 拢15bn鈥�

Tanks on the lawn

Some might be a bit surprised to read that the Ministry of Defence鈥檚 refusal to give the Northern Estate Programme (the refurb and redevelopment of a number of buildings on parliament鈥檚 Northern Estate) and main contractor Lendlease access to a car park might add 拢350m to the cost of revamping the Palace of Westminster. Of course, it might all be to do with security but, nonetheless, it鈥檚 an extraordinary state of affairs, and one that suggests the 鈥渧alue for money鈥� mantra government ministers rattle on about might not be at the top of some departments鈥� agendas.

MoD land dispute could add 拢350m to parliament estate鈥檚 bill

Spurexit

As Spurs prepares to finally stage its opening competitive fixture at its new ground next week, one of my team, on the People鈥檚 Vote march taking place in central London last Saturday, spotted a placard bearing the legend: 鈥淓ven Spurs are still in Europe!鈥� Given their upcoming quarter final opponents in the Champions League are Manchester City, I would venture that, like the UK, not for much longer.

Mind over matter

In his end of year report, Mark Lawrence, the chief executive of electrical contractor T Clarke, was pleased to reflect on improved fortunes for the firm. But this was not the only thing he couldn鈥檛 help but trumpet. 鈥淚 am very proud to see our mindfulness classes so well attended,鈥� he said, while promising to roll out the programme nationwide. How many chief executives, especially those of hard-bitten subcontractors, would been saying that a few years ago?