Joan Withers, TVNZ’s chair, added that Fletcher was on a guaranteed fixed price contract. Either that was literally true and Fletcher took a bath it hasn’t disclosed. Or, it kept ratcheting up the fixed price as the work expanded.
One wonders which it is - Fletcher hiding a $30m loss, or TVNZ hiding a $30m cost blowout.
Hmmm www.fyi.org.nz ..