Quinn Insurance in Administration

[haranguerer]

A bit cringeworthy, and if it was any other county board I'd be glad it wasn't mine, but f**k it, I like it.

I dont think they expect anyone to take a blind bit of notice of their character reference; its not going to make a difference to whats going on. Someone who will notice it though, is Sean Quinn himself, and thats clearly what its for. In that context, as a message of support for a patron, its not that embarrassing, and certainly not ridiculous.

When Quinn comes out of this, I'd say he'll remember those who were notable for their silence.

[pintsofguinness]

Talk of 5,500 jobs going is scaremongering by Quinn and is lapped up by the media. It would appear to be designed to put pressure on TDs and Ministers.  As far as I can see the worst case scenario would see some of the Quinn group changing ownership. There could be a risk to jobs if that happened but the scaremongering seems to be on the basis that what the Regulator has done might cause Quinn to simply close down. I don't see how that would happen.

I think as this plays out and more information emerges people will start to change their opinion on Sean Quinn. If that happens the above letter will look idiotic.

Muppet the letter looks is idiotic no matter what comes out of this.

"we are Irish too" - oh f**king hell - cringe!

[haranguerer]

Talk of 5,500 jobs going is scaremongering by Quinn and is lapped up by the media. It would appear to be designed to put pressure on TDs and Ministers.  As far as I can see the worst case scenario would see some of the Quinn group changing ownership. There could be a risk to jobs if that happened but the scaremongering seems to be on the basis that what the Regulator has done might cause Quinn to simply close down. I don't see how that would happen.

I think as this plays out and more information emerges people will start to change their opinion on Sean Quinn. If that happens the above letter will look idiotic.

We'll see Muppet.

And to say that the talk of the jobs going is merely scaremongering is ridiculous. Even if everything was declared a big mistake tomorrow, there would still be a massive loss of custom. Can you not see that, and the inevitable knock on effects? The longer this drags on, the worse that situation is going to get.

[Fear ón Srath Bán]

Such has been the monumental ineptitude of the Regulator's office in the 26 (and I know that  that has changed hands has since their most inglorious episode of pure crassness recently), that I can't see how anyone, or any body, with a vested interest in the community that has been directly affected by a decision of that same Regulator could NOT speak up, regardless of any attendant mortification from so doing.

The reality is that every decision that the 26-county Regulator takes must be open to the maximum possible scrutiny, even if at times that scrutiny appears to be somewhat OTT; the Regulator's office deserves no latitude.

[sammymaguire]

Wise up POG, you are so full of your own opinion being the only opinion that counts and it being the right opinion too of course and thus everyone else has to be ridiculous and cringeworthy... you are so obviously above "being Irish"

i'd rather see Quinn pull the plug on the whole lot and pay off his loyal staff rather than see others take ownership

[muppet]

Such has been the monumental ineptitude of the Regulator's office in the 26 (and I know that  that has changed hands has since their most inglorious episode of pure crassness recently), that I can't see how anyone, or any body, with a vested interest in the community that has been directly affected by a decision of that same Regulator could NOT speak up, regardless of any attendant mortification from so doing.

The reality is that every decision that the 26-county Regulator takes must be open to the maximum possible scrutiny, even if at times that scrutiny appears to be somewhat OTT; the Regulator's office deserves no latitude.

The crazy thing about this line of argument is that it seems to put Sean Quinn above criticism. People in Fermanagh/Cavan might feel he is a deity but the rest of us might see things a little differently. My kids and probably grandkids will be paying for his gamble with Anglo.

Haranguerer there is a big difference between saying that all 5,500 jobs are at risk and loss of custom might affect jobs. 'Can you not see that'?

[Fear ón Srath Bán]

No muppet, I wouldn't say at all that Seán Quinn should be above criticism or beyond the mechanisms of state-control. What I would say, however, that this particular decision seems to be as premature as the Regulator's previous invocations were non-existent; that office has gone from the invisible to the in-your-face in one (potentially) devastating stroke.

There is no doubt that he played fast and loose with Anglo, none at all, but the Regulator seems to believe that this gives carte blanche in dealings with Quinn -- to hamstring a going concern in such a fashion as the Regulator has done is reckless in the extreme; there are better and less destructive ways for the Regulator to make the office's presence felt.

[pintsofguinness]

Wise up POG, you are so full of your own opinion being the only opinion that counts and it being the right opinion too of course and thus everyone else has to be ridiculous and cringeworthy... you are so obviously above "being Irish"

i'd rather see Quinn pull the plug on the whole lot and pay off his loyal staff rather than see others take ownership

You'd rather have his staff looking for jobs than see them working for someone else? wtf?

[mylestheslasher]

Such has been the monumental ineptitude of the Regulator's office in the 26 (and I know that  that has changed hands has since their most inglorious episode of pure crassness recently), that I can't see how anyone, or any body, with a vested interest in the community that has been directly affected by a decision of that same Regulator could NOT speak up, regardless of any attendant mortification from so doing.

The reality is that every decision that the 26-county Regulator takes must be open to the maximum possible scrutiny, even if at times that scrutiny appears to be somewhat OTT; the Regulator's office deserves no latitude.

The crazy thing about this line of argument is that it seems to put Sean Quinn above criticism. People in Fermanagh/Cavan might feel he is a deity but the rest of us might see things a little differently. My kids and probably grandkids will be paying for his gamble with Anglo.

Haranguerer there is a big difference between saying that all 5,500 jobs are at risk and loss of custom might affect jobs. 'Can you not see that'?

Quinn is in a position to repay his loans to Anglo, is he not? He has said he will pay back every penny. He has taken many risks like most successful businessmen, moving from cement to Insulation to insurance to bottle factories to hotels. He has always succeeded and when one gamble goes wrong we all want the boot put in. This is a man with a proven track record of starting successful businesses in a part of Ireland that as always been totally ignored by the politicans from North and South, what does Ireland stand to gain from bankrupting him instead of giving him a chance to pay what he owes.

[Bogball XV]

I agree with muppet, this isn't about closing down the quinn group and taking 5500 jobs from cavan, fermanagh.  This will very possibly see a change in ownership though, apparently there's talk that quinn may cut a deal with regards to the 2.8Bn he owes to Anglo, that deal will involve transferring large chunks of the group (at the very least) to Anglo.  I have a lot of sympathy for him, but he chased his losses and that happens us all when we do that, reason and rationale go out the window.  The thing is I seem to remember him losing 400 odd million around the millenium with similar gambling, he apologised and said he's take a back seat with from investing from then on, he did with regards to the groups money (sort of), but he went for broke with his own, of course since he'd made a large chunk of that by gambling on anglo on the way up, can he be castigated for not getting out in time?

[Bogball XV]

Such has been the monumental ineptitude of the Regulator's office in the 26 (and I know that  that has changed hands has since their most inglorious episode of pure crassness recently), that I can't see how anyone, or any body, with a vested interest in the community that has been directly affected by a decision of that same Regulator could NOT speak up, regardless of any attendant mortification from so doing.

The reality is that every decision that the 26-county Regulator takes must be open to the maximum possible scrutiny, even if at times that scrutiny appears to be somewhat OTT; the Regulator's office deserves no latitude.

The crazy thing about this line of argument is that it seems to put Sean Quinn above criticism. People in Fermanagh/Cavan might feel he is a deity but the rest of us might see things a little differently. My kids and probably grandkids will be paying for his gamble with Anglo.

Haranguerer there is a big difference between saying that all 5,500 jobs are at risk and loss of custom might affect jobs. 'Can you not see that'?

Quinn is in a position to repay his loans to Anglo, is he not? He has said he will pay back every penny. He has taken many risks like most successful businessmen, moving from cement to Insulation to insurance to bottle factories to hotels. He has always succeeded and when one gamble goes wrong we all want the boot put in. This is a man with a proven track record of starting successful businesses in a part of Ireland that as always been totally ignored by the politicans from North and South, what does Ireland stand to gain from bankrupting him instead of giving him a chance to pay what he owes.

he's not in a position to repay his loans to anglo without some form of restructuring of the debt and the group, as i say the problem isn't the successful businesses, its that there appear to be very few controls, this is par for the course in a group like Quinn, but he has jeopardised the future of the group

[mylestheslasher]

Such has been the monumental ineptitude of the Regulator's office in the 26 (and I know that  that has changed hands has since their most inglorious episode of pure crassness recently), that I can't see how anyone, or any body, with a vested interest in the community that has been directly affected by a decision of that same Regulator could NOT speak up, regardless of any attendant mortification from so doing.

The reality is that every decision that the 26-county Regulator takes must be open to the maximum possible scrutiny, even if at times that scrutiny appears to be somewhat OTT; the Regulator's office deserves no latitude.

The crazy thing about this line of argument is that it seems to put Sean Quinn above criticism. People in Fermanagh/Cavan might feel he is a deity but the rest of us might see things a little differently. My kids and probably grandkids will be paying for his gamble with Anglo.

Haranguerer there is a big difference between saying that all 5,500 jobs are at risk and loss of custom might affect jobs. 'Can you not see that'?

Quinn is in a position to repay his loans to Anglo, is he not? He has said he will pay back every penny. He has taken many risks like most successful businessmen, moving from cement to Insulation to insurance to bottle factories to hotels. He has always succeeded and when one gamble goes wrong we all want the boot put in. This is a man with a proven track record of starting successful businesses in a part of Ireland that as always been totally ignored by the politicans from North and South, what does Ireland stand to gain from bankrupting him instead of giving him a chance to pay what he owes.

he's not in a position to repay his loans to anglo without some form of restructuring of the debt and the group, as i say the problem isn't the successful businesses, its that there appear to be very few controls, this is par for the course in a group like Quinn, but he has jeopardised the future of the group

There are plenty of people in Ireland at the moment restructuring loans on their houses cos they have over borrowed, lost their jobs and /or are in negative equity. Should they too have their houses taken from them.

[muppet]

Such has been the monumental ineptitude of the Regulator's office in the 26 (and I know that  that has changed hands has since their most inglorious episode of pure crassness recently), that I can't see how anyone, or any body, with a vested interest in the community that has been directly affected by a decision of that same Regulator could NOT speak up, regardless of any attendant mortification from so doing.

The reality is that every decision that the 26-county Regulator takes must be open to the maximum possible scrutiny, even if at times that scrutiny appears to be somewhat OTT; the Regulator's office deserves no latitude.

The crazy thing about this line of argument is that it seems to put Sean Quinn above criticism. People in Fermanagh/Cavan might feel he is a deity but the rest of us might see things a little differently. My kids and probably grandkids will be paying for his gamble with Anglo.

Haranguerer there is a big difference between saying that all 5,500 jobs are at risk and loss of custom might affect jobs. 'Can you not see that'?

Quinn is in a position to repay his loans to Anglo, is he not? He has said he will pay back every penny. He has taken many risks like most successful businessmen, moving from cement to Insulation to insurance to bottle factories to hotels. He has always succeeded and when one gamble goes wrong we all want the boot put in. This is a man with a proven track record of starting successful businesses in a part of Ireland that as always been totally ignored by the politicans from North and South, what does Ireland stand to gain from bankrupting him instead of giving him a chance to pay what he owes.

he's not in a position to repay his loans to anglo without some form of restructuring of the debt and the group, as i say the problem isn't the successful businesses, its that there appear to be very few controls, this is par for the course in a group like Quinn, but he has jeopardised the future of the group

There are plenty of people in Ireland at the moment restructuring loans on their houses cos they have over borrowed, lost their jobs and /or are in negative equity. Should they too have their houses taken from them.

None of those people are likely to cost the taxpayer billions.

[haranguerer]

Such has been the monumental ineptitude of the Regulator's office in the 26 (and I know that  that has changed hands has since their most inglorious episode of pure crassness recently), that I can't see how anyone, or any body, with a vested interest in the community that has been directly affected by a decision of that same Regulator could NOT speak up, regardless of any attendant mortification from so doing.

The reality is that every decision that the 26-county Regulator takes must be open to the maximum possible scrutiny, even if at times that scrutiny appears to be somewhat OTT; the Regulator's office deserves no latitude.

The crazy thing about this line of argument is that it seems to put Sean Quinn above criticism. People in Fermanagh/Cavan might feel he is a deity but the rest of us might see things a little differently. My kids and probably grandkids will be paying for his gamble with Anglo.

Haranguerer there is a big difference between saying that all 5,500 jobs are at risk and loss of custom might affect jobs. 'Can you not see that'?

The way I see it, the actions of the regulator are likely to trigger loss of custom to such a degree that large-scale job losses will be inevitable. You are speculating about someone coming in to buy it over, thus avoiding most of these losses. I dont think the headlines about the 5,500 jobs under threat are scaremongering.

I dont understand either his vilification a la the bankers - there seems to be a bit of a 'no smoke without fire' attitude going on. He borrowed money which he lost, hes going to pay it back, and was in a position to do so - while he was before the regulator screwed him anyway. To say your kids and grandkids are going to be paying off his gamble is complete bollocks.

[muppet]

Such has been the monumental ineptitude of the Regulator's office in the 26 (and I know that  that has changed hands has since their most inglorious episode of pure crassness recently), that I can't see how anyone, or any body, with a vested interest in the community that has been directly affected by a decision of that same Regulator could NOT speak up, regardless of any attendant mortification from so doing.

The reality is that every decision that the 26-county Regulator takes must be open to the maximum possible scrutiny, even if at times that scrutiny appears to be somewhat OTT; the Regulator's office deserves no latitude.

The crazy thing about this line of argument is that it seems to put Sean Quinn above criticism. People in Fermanagh/Cavan might feel he is a deity but the rest of us might see things a little differently. My kids and probably grandkids will be paying for his gamble with Anglo.

Haranguerer there is a big difference between saying that all 5,500 jobs are at risk and loss of custom might affect jobs. 'Can you not see that'?

The way I see it, the actions of the regulator are likely to trigger loss of custom to such a degree that large-scale job losses will be inevitable. You are speculating about someone coming in to buy it over, thus avoiding most of these losses. I dont think the headlines about the 5,500 jobs under threat are scaremongering.

I dont understand either his vilification a la the bankers - there seems to be a bit of a 'no smoke without fire' attitude going on. He borrowed money which he lost, hes going to pay it back, and was in a position to do so - while he was before the regulator screwed him anyway. To say your kids and grandkids are going to be paying off his gamble is complete bollocks.

I'm not speculating about a change of ownership, I am repeating what I read in yesterday's SBP.