Argghhhh !!!!

I can't call Jarvis right. I bot on CFD at 360, they fell to 328. I cut my loss and sold short, bah, now they're back up to 343.50.

Any feelings on their direction?

I think that any going short deals at the moment in a bull market are very risky indeed. Have you noticed some companies have been rising despite apalling performances - like British Airways to mention a well known one.

Hmmmmm,

Drifted around & down all day

& THEN 1,359,998 shares bought for 206p at 4:30pm Friday.


_________Time _Price _Quantity Type _ Bid Offer Buy/Sell Total Buy Total Sell Total Unknown
05/12/03 16:30 206.0 1,359,998 _ P __ 200.0 203.0 _Buy _ 1,610,940 463,611 ___ 149,837
05/12/03 16:29 203.65 238 _____ O ___ 202.75 203.0 Buy ___ 250,942 463,611 ___ 149,837

So ended with 3 times as many Buys.

Down another 5% on the day foloowing last weeks sluggish performance..150p anyone..

Why the surprise? Head office like Buckingham Palace - Board lie like troopers - Norris on board - Don't pay subcontractors when they're due - Shite company - Deserve to be bankrupted - No doubt they'll bounce from here ;-)

nice one brian. A very good summing up of JRVS. No doubt will be taken over shortly, but not before it hits 130-140p I hope.

I'm not a fan of his but hasn't Evil got a short with a target of 1 on this?

Going down.

Ground floor 50p

I sold out a long time ago.

At 50p I'll definitely buy again.

They are soooooo shite that they have got to go to 50p.

:-)

Seems to have disappointed a few people recently.......

When I see so many people trying to drive the price down then its time to buy!!! Target of 250 in short term!

....Concerns over the school contracts dispute returned to dog Jarvis, the construction group chaired by Steve "Shagger" Norris. Bear raider Evil Knievil is maintaining his short position in the stock because he likes neither the balance sheet nor the way the company presents its accounts.....

If there's one company that may one day shock the market with dodgy accounting my feel is it's Jarvis.

Apparently there is a protest by Kirklees staff tomorrow against the awarding of another contract to Jarvis. They say, based on the first schools contract, "..Jarvis's name has become a joke..unaccountable to anyone...delays..poor workmanship..poor health and saftey..escalating costs...slow payment to sub-contractors." it goes on and on.
No one, head-teachers, unions, workers or subbies apparently has a good word for them except the local politicians awarding them the second contract...Mmm what's that smell?

Seriously one has to wonder how they still get the contracts. Do they underprice? Or is there another reason?

The point is that they got the second contract.

But at what margin? If their own internal administration is as inefficient as their external working will they even know? And as a taxpayer do you actually want a company like this working for you? I know I don't - no wonder our infrastructure is so far behing the rest of Western Europe!

From the local news.
Big Deal Brian we all know the unions do not like PFI projects.And as the article states at the bottom and Orrill has stated they got the second contract.
The smell is probably that associated with someone looking at all the negatives and not positives of a 25 million contract win re trying to deramp price.


Unions to protest at second Jarvis deal Jan 20 2004
By The Huddersfield Daily Examiner
UNIONS will protest against a Kirklees Council decision to award another school refurbishment contract to Jarvis.

Members of the local government union Unison, supported by other local unions, will lobby councillors before a full council meeting at 1.30pm tomorrow at Huddersfield Town Hall.

In November it was announced that Jarvis will handle the 25m contract for the shake-up of special schools across Kirklees.

A new school will be built in Newsome to replace Highfields at Edgerton and Turnshaws at Kirkburton.

Jarvis, together with building firm Totty, will also be working on new schools for Fairfield, at Heckmondwike, and Longley School, Huddersfield, along with work to re-shape and extend Ravenshall at Dewsbury under the Government's Private Finance Initiative.

But Mike Forster, a spokesman for Unison, claimed Jarvis had had a very poor record, both as an employer and a building contractor over the last two years .

He said: "Our experience in Kirklees has been one of huge delays, poor workmanship, escalating costs and poor health and safety.

"Jarvis has been working in 20 of all mainstream schools and their name has almost become a joke. They do not appear to be accountable to anyone and therefore building deadlines do not appear to have been adhered to.

"Ultimately, as a recent head teachers' report confirmed, it is the pupils' education that has suffered.

"If this is the legacy of Jarvis, how can they have been awarded this second contract? It is clearly a disgrace that such a record of failure should be rewarded with yet another plum building contract.

He said the protest lobby had been called to mobilise the sense of anger at the council's decision and to demand decent public funding for services.

The contract will be the second major PFI project the council has undertaken with Jarvis.

The first, which began in summer 2001, involved refurbishing 20 schools as part of a 43m, 27-year project.

A Jarvis spokesman said: "We are disappointed that the local branch of Unison has chosen to overlook the benefits that the recent investment in Kirklees schools has made to the teaching and learning environment in them and has adopted a singularly negative approach.

"We refute all the allegations made and, in regard to our bid to work with the Council on a second partnering contract, can only state that they have chosen us as their preferred bidder based on the bid that we submitted in competition with others and in full knowledge of the facts regarding our previous performance."

A touch ironic that the very places where our children are supposed to learn about quality and honesty are being built and maintained by a company who's own values fall very far short.
However, I don't believe recent falls are down to the lousy contracting they do but more to doubts about the 'quality' of their accounts.

did evil not lose a packet on regus

Down 10% on nothing more than a report of a dozen complaints of late payment by contractors - Either oversold or the City thinks the accounts aren't as honest as they could be.

Buys 4.6m Sells 4.1m. Price now down 13.70%.

Jarvis has been a serial disapointer, just look at the graphs over the years - wasn't this share above 5 within living memory?
The Potters Bar crash did them no good although they deny any fault, but what matters is "perception" and I think the perceptiion - taking all in all - is not good. The drop today is significant on only one small piece of news - so Posters here may be right there is unease in the City over the Accounts ( Let's face there's unease over most accounts-n'est pas?)
As a continuing holder in a small way I'm waiting for the notice of an AGM.

Maybe the top management needs to jump into their Political Arena and stop trying to do two jobs, where there would be "some" conflict of interest.

I'm watching, but not buying until Management actually does something to address Public concerns and those in the City maybe too. Indeed I'd like the top man to leave, without collecting - take his salary in shares as of the date when he joined. Ie a fixed niumber of shares - that is the only way a company executive and shareholder interests can be aligned.
I'd vote for that.

Hasen't Evil tipped these as a short and they are up more than 11% today? Perhaps he is not so god like