BAM and Balfour Beatty are the latest big names to suffer holes in their balance sheets caused by toxic contracts.
But many major contractors are facing bigger problems than just the legacy of bidding for work at perilously low rates.
Recessions force people into desperate measures and bidding low to win work and keep resources ticking over is a natural reaction to a downturn.
The real worry is how long it is taking to discover just how wrong contracts are going.
