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A Suburb in Stockport

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Can SMBC be trusted with our money?

 
 
vulcanman
Townsperson

vulcanman
Can SMBC be trusted with our money?
26th August 2012 at 10:33AM
So the council apparently buys the Debenhams building to lease back to Debenhams, they are considering buying Edgeley Park to lease back to Stockport County, oh, and they apparently lose £4.5m in their wholly owned Solutions-SK subsidiary. Incompetence, money to burn or massive problems coming our way? Discuss.
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vulcanman
Townsperson

vulcanman
Re: Can SMBC be trusted with our money?
28th August 2012 at 1:48PM
It turns out that Andrew Web (Corporate Director of Children and Young People) at SMBC is a none executive director at SK Solutions, a company wholly owned by the council. With the debacle at SK Solutions with £4.5 million missing, it doesn’t give you much confidence that education in Stockport is in safe hands with Webb at the helm. I’m pleased to see he thought he had time to take part in woman’s hour this morning on radio 4.
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BigTed
Villager

BigTed
Re: Can SMBC be trusted with our money?
28th August 2012 at 2:02PM
With all the belly-aching and shenanigans he covertly produce in the HGHS/Academy debacle – when all could have gone on in a smooth and productive way (there was a strong suspicion that he stirred up the union revolt to protect his own position); at least he had the good grace to pick the appropriate programme to go on!

Woman’s Hour, spot-on Mr Webb
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BigTed
Villager

BigTed
Re: Can SMBC be trusted with our money?
28th August 2012 at 2:23PM
Ever wondered how not to engineer your cash flow?
Check-out Solutions SK Ltd. net cash worth for 2010 – how can a company return from a negative net worth of MINUS £10,000,000 (!) to a positive balance of plus £4,000,000 in 2011.
That is an increase of £14,000,000 in just 12 months.

So here’s a genuine question?

Can this most incompetent local administration really do this – you decide?

Have a look here:
http://companycheck.co.uk/company/05844684
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