More bad news at carillion

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timco
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Re: More bad news at carillion

Post by timco » Mon Jan 15, 2018 11:06 am

I essentially joined because I wanted to have some fun with some money that does not matter which I get for free.

The bit I want to emphasize is fun, let us keep it fun this has hopefully been a learning curve for many, have had to many go bump myself to learn anything much from this, it is a big hit although it could have been slightly smaller had we bailed when it stopped fulfilling our criteria, what ever that was.

Pick up move on (although personally stopped new investment in the club a while back so have less say on its current direction) look for a new opportunity.

parchedpeas
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Re: More bad news at carillion

Post by parchedpeas » Mon Jan 15, 2018 11:40 am

blythburgh wrote: But the decision must rest with those who are members of course.
William Joseph1 wrote: Anyway I am no longer a member and as such will now keep quiet on this subject and anything to do with the CIC
I hope you will both continue to post in the CIC forum as we welcome all voices in here. It's a learning process for us all, we were burned on this one but we'll move on, and certainly the last few share purchases have shown progress.
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RonFlorabud
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Re: More bad news at carillion

Post by RonFlorabud » Mon Jan 15, 2018 1:08 pm

You win some, you lose some.
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Derbiean
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Re: More bad news at carillion

Post by Derbiean » Mon Jan 15, 2018 1:58 pm

William Joseph1 wrote:Entirely foreseeable. I dont see the point of banging on about it. Learn from the mistake and move on. The writing was entirely on the wall well before the vote to sell or hold the shares was made. It seems to me that there is a reckless streak running through the membership of the CIC and that you deserve all you get.

Up until yesterday I was considering rejoining. But this fiasco and the fact that Thunderfrog has thrown his hat into the ring to become Chairperson means I won't. This is a person who in my opinion on numerous occasions has shown his contempt for the membership in the way he posts within other threads. Had I been a member I would have voted for him to be removed as Secretary. It would be better to disband the CIC than have such an irresponsible person as Chairman.

Anyway I am no longer a member and as such will now keep quiet on this subject and anything to do with the CIC or Thunderfrog.

In my case it was a lack of knowledge not recklessness that led me to decide to vote to stay with Carillion.

William Joseph1
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Re: More bad news at carillion

Post by William Joseph1 » Mon Jan 15, 2018 2:00 pm

Derbiean wrote:
William Joseph1 wrote:Entirely foreseeable. I dont see the point of banging on about it. Learn from the mistake and move on. The writing was entirely on the wall well before the vote to sell or hold the shares was made. It seems to me that there is a reckless streak running through the membership of the CIC and that you deserve all you get.

Up until yesterday I was considering rejoining. But this fiasco and the fact that Thunderfrog has thrown his hat into the ring to become Chairperson means I won't. This is a person who in my opinion on numerous occasions has shown his contempt for the membership in the way he posts within other threads. Had I been a member I would have voted for him to be removed as Secretary. It would be better to disband the CIC than have such an irresponsible person as Chairman.

Anyway I am no longer a member and as such will now keep quiet on this subject and anything to do with the CIC or Thunderfrog.
In my case it was a lack of knowledge not recklessness that led me to decide to vote to stay with Carillion.
That is something perhaps many would say about Brexit also
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Beachboy
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Re: More bad news at carillion

Post by Beachboy » Mon Jan 15, 2018 2:01 pm

timco wrote:I essentially joined because I wanted to have some fun with some money that does not matter which I get for free.

The bit I want to emphasize is fun, let us keep it fun this has hopefully been a learning curve for many, have had to many go bump myself to learn anything much from this, it is a big hit although it could have been slightly smaller had we bailed when it stopped fulfilling our criteria, what ever that was.

Pick up move on (although personally stopped new investment in the club a while back so have less say on its current direction) look for a new opportunity.
I echo these sentiments. :thumbup:
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Beachboy
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Re: More bad news at carillion

Post by Beachboy » Mon Jan 15, 2018 2:24 pm

William Joseph1 wrote:Entirely foreseeable. I dont see the point of banging on about it. Learn from the mistake and move on. The writing was entirely on the wall well before the vote to sell or hold the shares was made. It seems to me that there is a reckless streak running through the membership of the CIC and that you deserve all you get.

Up until yesterday I was considering rejoining. But this fiasco and the fact that Thunderfrog has thrown his hat into the ring to become Chairperson means I won't. This is a person who in my opinion on numerous occasions has shown his contempt for the membership in the way he posts within other threads. Had I been a member I would have voted for him to be removed as Secretary. It would be better to disband the CIC than have such an irresponsible person as Chairman.

Anyway I am no longer a member and as such will now keep quiet on this subject and anything to do with the CIC or Thunderfrog.

As highlighted by Derbiean I do not think it can be put down so easily to recklessness. In truth we should never have got the stage where the shares were worth so little that the options were all negative. Yes in hindsight at that stage we should have sold and recovered £200 but equally if for instance they had rallied and doubled in price to (say be worth £400) then perhaps we would be looking back cursing that decision. The real damage was done much earlier with the lack of a stop/loss. In the CIC strategic direction thread I will certainly be backing the need for one in every instance. As others have said the CIC is about 'fun' and whilst losing money like this is not fun in itself the point of the CIC is to learn from mistakes such as these and enjoying the overall experience. It is hard a lesson but I think we have learned a lot from the experience. So as others have said, we need to just to dust ourselves off and move on with positive ideas.

As for the position of Chair I will be posting in the strategic direction thread as well (which is where I see that discussion now best fits), but in short yes I agree we need to sort that position out. My view is that Garindan was doing a really good job, with detailed, balanced and thoughtful posts before his unfortunate absence for family reasons. My view would be that we try and ascertain if possible from Garindan, if or when he will return. If he is planning to return in the next couple of months I would propose an interim arrangement to cover for this period. If not then yes we need to carry out a proper process to select a new official in this position. William Joseph1 if it reassures you it would not be my understanding that just because anyone expresses an interest in an Officer post it automatically means they will slot in, a proper voting process is required. On a side but related note it would perhaps make sense to have a CIC AGM (or at least some other kind of regular review) to review all the Officer posts, review strategic priorities etc.

parchedpeas
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Re: More bad news at carillion

Post by parchedpeas » Mon Jan 15, 2018 2:48 pm

I echo all of that, but I just want to add that, while I know underdog gets a lot of stick elswhere on here, a lot of their posts in the CIC have been useful and there is a degree of time and effort that is put into them which is appreciated. I extend this to everyone who does work in the background to keep us ticking over.

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Re: More bad news at carillion

Post by kevinchess1 » Mon Jan 15, 2018 5:01 pm

I think we should all Keep Calm and Carillion :D
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AAAlphaThunder
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Re: More bad news at carillion

Post by AAAlphaThunder » Mon Jan 15, 2018 6:26 pm

William Joseph1 wrote:Entirely foreseeable. I dont see the point of banging on about it. Learn from the mistake and move on. The writing was entirely on the wall well before the vote to sell or hold the shares was made. It seems to me that there is a reckless streak running through the membership of the CIC and that you deserve all you get.

Up until yesterday I was considering rejoining. But this fiasco and the fact that Thunderfrog has thrown his hat into the ring to become Chairperson means I won't. This is a person who in my opinion on numerous occasions has shown his contempt for the membership in the way he posts within other threads. Had I been a member I would have voted for him to be removed as Secretary. It would be better to disband the CIC than have such an irresponsible person as Chairman.

Anyway I am no longer a member and as such will now keep quiet on this subject and anything to do with the CIC or Thunderfrog.
Your are welcome to your opinion and I have no issues with you expressing it.
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