OFT seem to think lowest price bidding is good competition?

Today saw OFT’s announcement of fines averaging 1.5% of turnover for around 100 companies caught in its two-year investigation of ‘bid rigging’. The coverage raised some interesting issues for me: 1. For once, the industry’s spokespeople did well. And much better than when the story first broke in April 2008. Specifically, I heard Stephen Ratcliffe, … Continue reading “OFT seem to think lowest price bidding is good competition?”

Reverting to type

Last week I went to the regular meeting of the Herts and Beds Constructing Excellence Club. A big turnout, over 50 people, and a very good presentation by Renewables East.  Paybacks are much lower than 10 years ago. But the conversation afterwards turned to the extent to which the recession will mean that such ‘nice-to-haves’ … Continue reading “Reverting to type”