Funny how the rules are different?
Small businesses just go bust.
"oh dear, we've cocked it up. Please give us £100m so we can have another go".
"Lives left: 0
Insert (100m) coins to continue"
Serco is looking to plug the gap in its finances from weaker-than-expected results via a share placement estimated to haul in £100m worth of filthy lucre. This follows yesterday's latest profit warning and confirmation that long-standing CFO Andrew Jenner is to quit after 17 years of counting beans, once a successor is found …
"Insert (100m) coins to continue"
Well, Serco have been buzzing round government for so long that the culture's rubbed off. So if you don't like the truth, make up the numbers. If you've f**ked up and wasted all the real money, you just print up some more.
Government print money through quantitative easing, companies do this through a just printing up a few more share certificates, and then flogging them. It's a "rights issue" if you think the existing shareholders are stupid enough to pay more for something they already own, and it's a "placement" if the company need to find some new mugs to have their money taken off them. And in both cases investment bankers cream off a big fat slice for doing nothing.
Biting the hand that feeds IT © 1998–2020