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Article: Doing the PFI homework pays off; Larry Neild discovers how Liverpool council protected its new schools from the problems at builders Jarvis.(Business)
- Article from:
- Daily Post (Liverpool, England)
- Article date:
- July 21, 2004
CopyrightCOPYRIGHT 2004 MGN Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Larry Neild
WHEN Liverpool City Council and Jarvis signed a private finance initiative deal worth pounds 300m in 1998, shares in the services to construction giant were trading at almost 600p.
Today shares in Jarvis are changing hands for around 37p and the group has been told to draw up a new business plan for its bankers by the end of this month.
The fortunes of Jarvis will be watched with interest in Liverpool where the PFI it signed was the biggest ever at the time in the UK, and possibly still the largest of its kind.
But Paul Clein, the Liberal Democrat executive member for lifelong learning won't lose any sleep even if ...