I wonder if the workers are at all to blame, and I say this with no evidence but just floating a possibility from a different angle.
With the Desal plant in Victoria there was a lot of talk the workers knew it was a contract that was geared such that if it did not meet deadlines harsh overrun penalties were to be applied to the contractor. The workers then demanded massive wages and overtime via the unions to get the job done ASAP.
In other words deliberately work slow so the job goes longer and you profit more. In that case Leighton had deep pockets but if that happened here it broke the back of FGE.
FGE Price at posting:
91.5¢ Sentiment: None Disclosure: Not Held