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"I totally reject the suggestion that we haven't had a grip on this because we've been monitoring the contract carefully.
The powerful parliamentary public accounts committee summoned Serco and the NHS body responsible for commissioning them, the Cornwall primary care trust, and gave them the roasting they deserved for a culture of "lying and cheating" and for "shocking" inadequacies in writing and monitoring the contract.
PSG and Real Madrid are both monitoring the contract talks of Liverpool's 19-year-old winger Raheem Sterling.
He wrote: "The inertia that seems to have gripped both those monitoring the contract and delivering it on the ground has led to one of Britain's leading jails slipping into a state of crisis that is remarkable even by the low standards we have seen all too frequently in recent years". Ministers believe the others the company runs - Altcourse, Oakwood, Parc and Rye Hill - are performing well.
A state audit last July revealed that the Texas Education Agency "lacks adequate processes for monitoring the contract".
Additionally, both PCT and APPC staff again highlighted the issue of time taken in monitoring the contract.
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The economist Ronald Coase, for instance, argued in the 1930s that firms existed to reduce the transaction costs involved in doing things in particular, the cost of finding business partners, making contracts with them and monitoring the contracts thereafter.Faster, cheaper telecommunications and the emergence of the internet have dramatically reduced such transaction costs.
Wasn't anyone monitoring the contracts?
Indeed when NHS commissioners appeared unwilling to engage corporate 'independent sector treatment centres' (now re-named 'NHS Treatment Centres'), the Department of Health commissioned them itself, with local commissioning bodies only subsequently implementing and monitoring the contracts [ 23].
The changes we have made have led to major savings for taxpayers, totalling £15m in the first year, and we continue to monitor the contract on a daily basis and demand continuing progress".
"At this point, the comptroller's Bureau of Contract Administration is continuing to closely monitor the contract as it proceeds," he added.
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