Where are all the Wexford mongs claiming Mick was a great business man only a few months ago.
not sure where they were a few months ago RTT either?
it seems a bit odd tho what ACC are doing. Wallace is paying them back as per most re negotiated loans, but now they want the whole lot of it back in one lump, which in the long run, they will lose far more money over. doesnt seem like good business from anyone involved.
it makes sense if you believe that the resale value of the properties are going to drop in the medium term, get out now before it hits rock bottom.
letās face it, the new dail expenses regime killed off whatever hope wallace had of improving his repayments.
iām sure the by-election posters will be a welcome addition to the local scenery, since ye went for the most colourful candidate last time out.
He says he canāt pay the money back.
ACC could decide to bankrupt him and thatāll be the end of his Dail career.
Iād say Miss Piggy is liking this.
some funny stuff on his facebook page today. people saying they are going to protest outside the dail and all other such ridiculous shite. blaming the government for it, and what are they doing in the dail, yet he is a member of said government. clever people I suppose.
as much as I think Wallace was foolish for going so far down the development route, it seems odd to me what ACC are doing. Maybe I dont get the whole thing about it, but on a smaller scale, if I have a mortgage, and Iām lagging in payments, most banks will take as much payment as they can get each month. I wouldnt have thought they would close up shop, and say they want the full amount borrowed straight away. the value of the property/land wouldnt come near the amount borrowed.
But for what little bit of sympathy I might have for him would be completley gone if these stories on holding on to pensions and stuff are true. thats shite behaviour, and could not be tolerated.
ACC want out of ireland. full stop.
they wonāt get much out of bankrupting him, but if the news report from last night is true and only one of the 5 developments is yielding rent, theyāre getting sweet FA from Mick as it is.
revenue will be first in the queue for whatever they can scrounge down the back of Mickās sofa, the pension pot should be next by rights but maybe some of our learned accountants can clarify.
some socialist Mick is, pocketing the pension contributions. subbies left swinging in the wind too. clearly Mickās idea of socialism only applies to one side of the balance sheet.
More stuff coming out this morning that he didnāt make pension contributions on behalf of his employees to some construction workers fund in 2009. About 45k or thereabouts. But heāll repay it all plus a 1k fine now I think.
No heās not, heās in opposition. Heās a member of DĆ”il. For all we know FG could be putting pressure on as itās likely that either they or Labour would win the by election in Wexford.
This will probably boil down to how far ACC want to get into this. If it emerges that there are similar indebted parties then serious questions will be asked as to why theyāre chasing him down.
Either way he must have known that this was on the cards and could benefit out of the publicity that will be generated from the fact that he could lose his DĆ”il seat, some cynics may even suggest that this is why he ran for election in the first place. Best case scenario for him is that they revert to the current loan arrangement due to public pressure and he seeās out his DĆ”il term.
yeah sorry, got my wording wrong. but you get what I mean. all complaining about the tds and what are they at. FG would most likely get Darcy a seat Iād say, but doubtful theyād be bothering to be pushing this themselves for one seat, or maybe I am just not devious minded enough to think they would work like that.
just on your second bit, the thought had occurred to me too.
I actually thought that most of his investments were returning some sort of yield. I know the apartments on Jones rd was his last reall development, but all the apartmetns there are either sold or being rented. maybe ACC isnt part of that one or something?
They reported that this was the only one currently generating an income. Think he has a few other unfinished ones that he borrowed from ACC for. Donāt think all his loans are with ACC.
No idea on how his finances were fixed. I know there was less of a worry about him as he said most of the money he owed was to the foreign banks. Sure you never know whatās behind this move now. It could even be ACC trying to generate some PR as well that they wonāt let any developers off, regardless of who they are.
Regarding a by-election. Itās be difficult to see FG failing to return the seat with Darcy. However, where the Wallace votes would now go would be the really question. Thereās no SF candidate in the race and no alternative in the New Ross area other than Connick, who lost a lot of his support to Wallace.
Darcy suffered the last time in the south of the County so heāll have to up his game but Kehoe would probably be Director of Elections and heād pull every trick in the book to try and get him over the line. I canāt see Twomey pushing too hard for him as heāll be his main competition for the seat at the next GE.
Labour would probably consider standign George Lawlor at this stage and heās also have a serious chance on the back of Howlinās support. The only question there is would Howlin be happy to let him stand.
no, think most of the loans are elsewhere alright. Iām not sure what is involved then in his other ones, coz the one at the millenium bridge seems to be going well, but whether that was included I dont know. the one out in Inchicore is a disaaster.
someone sent this onto me there yesterday, kinda funny reading back on it
http://www.businessandfinance.ie/index.jsp?p=413&n=427&a=2095
Darcy (FG), Connick (FF), Anthony Kelly (SF) and Pat Cody (Lab) were the only 4 candidates that seriously threatened the last time and didnāt get in. I would imagine that if the seat does become vacant itās really anyones. Wallace topped the poll in Gorey so it shows how much faith they have in Darcy. New Ross will want to get a TD back but would they vote in a FF person? Cody polled well on the back of Howlin the last time but donāt think Labour would do as well this time. I know nothing about this Kelly lad at all.
Been a great year for Wexford business men - Wallace, Yates, Jim Byrne! Sam McCauley must be getting worried that heās next.