I am guessing that the thumping drop in Gattaca (LON:GATC) SP is part of the fallout from the Carillion collapse. In the absence of any announcements, does anyone know how exposed Gattaca (LON:GATC) is?
I can understand a short-term hit if Carillion is a debtor, but would expect long-term that the demand for staff to undertake the work previously contracted by Carillion will largely continue e.g. Crossrail, HS2 etc. This could therefore be a good buying opportunity
CMW
One of the director's has just sold a chunk of shares. He still maintains a big holding however, so doubt any price-sensitive news should be coming if the rules are adhered to.
However keen the government is not to be seen to hold this Carillion hot potato, you can be certain that strings are being pulled behind the scenes so that work that simply must be completed, is completed. The centre of Birmingham, for example, cannot be left as a permanent building site. Huge efforts will be made to ensure that construction workers do not find themselves on the dole and it has been said that housing starts in particular have been held back because of a lack of manpower.
Loans will become available for some of the more solid of the smaller businesses that were subsumed into the monster that became Carillion. After all, the legal monster, Fairpoint, went to the wall, but the company it bought, Simpson Miller, got funding and still continues.
Times of crisis like these do not require less expertise in the HR and contracts sector. On the contrary.
