bill cullen on the late late!!!!

stovelid wrote: »

When Bill says he admires workers that put in a 20 hour shift for 10 hours money, what he really means is that he looks at them in disbelief, secretly thinks fucking mug, and rubs his hands together.

Nelson Muntz wrote: »

I wouldn't say it took a genius to sell cars during the celtic tiger

wrote:

You're mired — in debt. Bill Cullen’s Muckross Park Hotel racked up accumulated losses of €9.4m at the end of 2007, newly filed company accounts show. The hotel’s financial travails are likely to be particularly brusing for Cullen’s ego after the businessman’s high-profile tenure as presenter of The Apprentice on TV3.

The five-star Muckross Park Hotel lost €1.52m in 2007, prompting O’Connor, Kelliher & Treacy, the auditors who compiled its accounts, to question the “ability of the company to operate as a going concern”.

Cullen and Jackie Lavin, his girlfriend and business partner of 30 years and co-presenter of the TV3 show, bought the Killarney hotel in 1990, updating its rooms and adding a conference centre and spa. They have loaned the hotel €5.68m to date in an attempt keep it afloat.

Cullen, 62, said this weekend the losses were “disappointing but understandable” given that he and Lavin had restored and expanded the 18th-century hotel.“ Of course the losses are a cause for concern but much of the sum was accumulated from its previous operator. We only took over its running a little over two years ago,” he said.

Responding to the auditor’s questioning of the hotel’s ability to operate as a going concern, Cullen said that there was increasing scrutiny on company accounts in the current market. “Auditors have to be seen to be tight and have to protect themselves, which is understandable. There are going to be questions about any balance sheet showing a loss but we’re confident about turning the business around this year,” he said.

Despite the hotel’s losses, Cullen’s personal fortune is still considerable. His wealth was estimated at €110m in the last edition of The Sunday Times Rich List.

The Dublin-born car dealer and best-selling author was typically ebullient last week about Muckross Park’s fortunes for 2009, pointing out that bookings are “only down by about a quarter on this time last year”. He said: “That’s not bad in this market. All hoteliers are after a bigger slice of a smaller pie.”

Cullen said that staff costs and overheads had been reduced at the hotel. “We’re confident that we can have a better year by cutting back on expenses. We’ve had to let staff go but we think we’ve done what’s necessary now to have a good year.”

Cullen is still planning to launch a development of apartments in the grounds of the hotel this summer. “Selling apartments on the grounds is one of several innovative ideas we have to bring in extra customers and increase revenue in the hotel,” he said.

An attempt to add 16 glass-fronted balconies to the block of apartments was vetoed by An Bord Pleanala last year after An Taisce objected. Cullen was also refused permission to retain a helicopter landing pad in Killarney National Park a year earlier after another dispute with the planning watchdog.

Brenda Shanahan, 32, a bridal-shop owner who won this year’s Apprentice, may be given the task of helping to reverse the hotel’s fortunes. The former gymnast from Kilmallock, Co Limerick, won a one-year €100,000 contract with Cullen and began work last month.

It has yet to be announced whether Cullen will present the series next year. The reality television show, produced by Screentime Shinawil, was judged a huge success by TV3, attracting an average audience of 259,000.

Cullen also lost money on his Renault business in its last full year of trading before the French car manufacturer took back control of the Irish franchise. Glencullen Holdings lost €3.6m in 2006, despite making a profit of €4.6m the previous year. The businessman had owned the franchise for the company since 1986, when he paid IR£1 (€1.27) to secure the Irish dealerships. He still owns six dealerships around the country — three in Dublin.

In November, Cullen told Irish Entrepreneur Magazine that “the worst is yet to come regarding liquidity”, and he added: “You can’t get money off the banks. The banks aren’t giving money to anybody that I know of.”