Mr Quinns Problems

warmhands.coldheart

Ok so he made some very bad decisions but does he really deserve to loose everything considering he apparently did have a business plan to pay of his debts over 5 or so years.
The man stuck to his local roots with his call centers and manufacturing facilities when he could have easily moved so much of it abroad

I do somewhat smell a rat though considering the new joint buyer/financer
Funny how Anglo can find £87million to fund this wee venture!! What stops this Big American insurance company from gradually moving a lot of the Jobs out of Ireland/Northern Ireland?? It would kill local towns like Enniskillen & Cavan....

steveymp

I do feel sorry for any of the employee's of this once great company, and I know quiet a few of them in Enniskillen. However Mr Quinn does have to accept quiet a bit of the blame for this prediciment, how he can go from being the richest man in Ireland a few years ago to being in debt to Anglo Irish for a stupid amount of money I'll never know:o

Mind you this comes from myself who has trouble balancing a current account every month but even I couldn't get myself into £2.5 Billion of debt.

The Celtic Tiger implosion obviously hit Sean very hard and his loyalty to keeping all his staff employed seems to have cost him his company unfortunately. Having said that with the recent protests his staff have not forgotten their loyalty to him. At the end of the day them lovely banker chaps now own the company and will probably asset strip and sell what they can to cover their own A$$e$.

D.A.

warmhands.coldheart wrote: »

What stops this Big American insurance company from gradually moving a lot of the Jobs out of Ireland/Northern Ireland??

Given that they've had an I.T. arm in Belfast for over 10 years and have actually created jobs here, I would imagine it's unlikely.

Golden_Anemone

warmhands.coldheart wrote: »

Ok so he made some very bad decisions but does he really deserve to loose everything considering he apparently did have a business plan to pay of his debts over 5 or so years.

The story I heard on the radio suggested this business plan was dependent on his being loaned another £650 million. :eek:

Yes, that would be on top of the 2.5 billion he already owes. :eek:

leftieM

Sean borrowed money off Anglo Irish to buy AI shares just before they became worth more as toilet paper than as shares in that bank. It was a stupid, greedy and reckless gamble that didn't pay off. I'd save my sympathy for those who need it, like the employees who's futures he jeopardised.
However, if I'm in the mood, I might drop 50 cent into his begging bowl if I pass him on O'Connell Bridge. He can put it towards what he owes the irish taxpayer.