Four years ago Daniel Grollo was feeling invincible.
Grollo would in late November and in the midst of this legal fight place large parts of Grocon into administration, firmly blaming Infrastructure NSW for the company's financial woes. Company watchers were quick to say Grocon's woes were not caused by the group’s notorious battles with the construction arm of the CFMEU or the notorious "wall" incident in 2013 when a retaining wall at its Swanston Street apartment development collapsed,For those who know the company well, the seeds of Grocon’s financial demise were sown in 2011 when the business was restructured to allow Daniel Grollo to run Grocon without the help of dad Bruno or brother Adam.
"I suppose I’ve got to get things in order before I die. I don’t want the kids fighting," Bruno told theat the time. "As a father you think your kids are happy just being your kids and owning everything. But they’re not, they want to own something and that’s fair enough." Without these assets, sources say Grocon was forced to chase riskier deals and did not have the assets to sell or the steady flow of rents to back up its cash position when projects went over budget, as they tend to do when an aggressive developer is seeking to outbid the competition on wafer-thin margins. Presented with this thesis on Grocon’s history, a Grocon’s spokeswoman would only say: "This is incorrect".
Lol. Nice try Costello. Grocon went to war with their own workforce. Grocon got smashed. These fascists forgot that it's workforce IS Grocon. Good riddance. Another organisation will step in it's place. Let's hope it's ethical.
MSMWatchdog2013 Does he need to hurry to get in the Jobkeeper line ... or whatever label it is called?
Big businesses will always try to blame unions Never their fault
Fascinating! That's not British name.Which ethnic European community of Aussies are they from? The ethnic British community, like the ScoMos, are still flying high whilst we, Australian Natives, are continue to struggle since the first British boat people on MY Fatherland!
Curse of the 3rd generation ?