pheonix 4

[taxi4leighton]

looking at the report of the shameless directors named the "phoenix 4"
the worst the company were doing, the bigger their wages, bonus payments and pension rights became.
but they never done anything illegal, so thats allright,is it ?
now draw a parallel with royal mail
crozier and his henchman keep on talking down royal mail and you the posties
volume of mail is falling, posties overpaid underworked
but yet, every year crozier and his cronies award themselves inflation-busting wage hikes., massive bonuses and amazingly their pensions arent affected by massive shortfall.
and surprise, surprise mandelson who condemns the pheonix 4 thinks the sun shines out of croziers backside
greed truly is god
and this under a labour government

[savo]

As I remember it..........
The Liars had an offer from John Moulton (?) ) a proven businessman which would have involved some job losses.
They had a another offer from four people with no experience who claimed that would run the thing with no job losses.This was the offer the Union wanted so the Liars agreed.
Now it has all gone ting tong the Liars and the Union blame the four guys they sold it to.
If these four did something illegal then put them in jail. Or shut up about it and admit they -both Liars and Union- backed the wrong horse.

[TrueBlueTerrier]

While I may agree with you Savo in that the Unions involved were perhaps a little short sighted at least their heart was in the right place, they were trying to protect their members interests.

I guess they thought that the Mandelson and the Liars would have acted under "due diligence" and found any funding shortfalls or questionable business acumen or ethics. When they did not I guess the Unions thought they were safe.

What Does Due Diligence - DD Mean?
1. An investigation or audit of a potential investment. Due diligence serves to confirm all material facts in regards to a sale.

2. Generally, due diligence refers to the care a reasonable person should take before entering into an agreement or a transaction with another party.

Investopedia explains Due Diligence - DD

1. Offers to purchase an asset are usually dependent on the results of due diligence analysis. This includes reviewing all financial records plus anything else deemed material to the sale. Sellers could also perform a due diligence analysis on the buyer. Items that may be considered are the buyer's ability to purchase, as well as other items that would affect the purchased entity or the seller after the sale has been completed.

2. Due diligence is a way of preventing unnecessary harm to either party involved in a transaction.