another shocking story of business gone bust!!

mox54

mox54 wrote: »

just heard today that <mod edit: a large transport company> has gone to the wall with the loss of <mod edit: over a hundred> jobs, so far its a rumour and i hope a false one but if true it's a real real shock to the town and the area, this recession is no longer funny...it's serious stuff with big businesses going bust and we have to question our politicians ability, are they blindly leading us down a dark alley for a good hiding!! and our business leaders, what way were they running their businesses????, i'm shocked:eek:

Mod note: Please don't speculate and name company names like this on the basis of some rumour you've vaguely heard. It puts us in dodgy legal territory as well as being plain irresponsible. I've edited out the identifiable bits.

danbohan

<mod edit: name removal as it's a basic rumour, see above rationale in OP>

sit yourself down and have a nice glass of warm milk you seem like somebody who has just woke up from a 2 year sleep , 5-10 buisness are going bust everyday , it will continuie for a long time yet with banks incapable or unwilling to provide capital .and yes our politicians have not the faintest idea how get out this mess they are just looking for the safest exit for themselves and their cronies

mikemac

Haulage industry is a tough one.

Massive competition.
And as we saw on Primetime last year, you have companies underpaying and overworking staff to save money. Minimum rest periods disregarded.
Hard to compete when you are being undercut like this.

<mod edit: name removal as it's a basic rumour, see above rationale in OP>
I hope the rumour isn't true, but many other similar companies are in serious trouble also

alex73

also a lot of Competition from British Hauliers who are importing to Tesco/Dunnes/S Value distributions centres and looking for backhauls business from Ireland.

skelliser

We are in a depression. No question.
Our Gov. hasnt a clue and couldnt care less either, they know they will be out on their ears next election. Fianna Fail are only concerned about helping their builder buddy friends and bankers in Anglo.

mox54

i have 2 young kids and can most likely get same job as i have now abroad with my company, maybe UK.... my house is still in positive equity so is it time to sell up and **** off:mad:

RichardAnd

skelliser wrote: »

We are in a depression. No question.
Our Gov. hasnt a clue and couldnt care less either, they know they will be out on their ears next election. Fianna Fail are only concerned about helping their builder buddy friends and bankers in Anglo.

I wouldn't be surprised if FF get elected next time round once again. People will vote on local issues and by tradition rather than national issues. Besides, FF, FG, Labour or whatever, the problems will still be the same and a change of government will make little difference.

the_dark_side

RichardAnd wrote: »

I wouldn't be surprised if FF get elected next time round once again. People will vote on local issues and by tradition rather than national issues. Besides, FF, FG, Labour or whatever, the problems will still be the same and a change of government will make little difference.

I heard it said today from one particular political analyst, that FF will probably jump ship before the next election with what is coming down the line before December. The AIB will have to raise 7.5 billion to stay afloat, and the word on the ground is that they dont have a hope of raising the cash. They may likely be nationalised... unfortunately we would have been able to bail out AIB had 24bn not been granted to Anglo to bail out FF's developer buddies. Now we're done like dinner... theres no way ECB will bail us out any further

tommy21

the_dark_side wrote: »

I heard it said today from one particular political analyst, that FF will probably jump ship before the next election with what is coming down the line before December. The AIB will have to raise 7.5 billion to stay afloat, and the word on the ground is that they dont have a hope of raising the cash. They may likely be nationalised... unfortunately we would have been able to bail out AIB had 24bn not been granted to Anglo to bail out FF's developer buddies. Now we're done like dinner... theres no way ECB will bail us out any further

Yeah, despite all the woes after the last budget, I felt for a bit we had turned a corner. But now the pressure and bad news is piling up again. It will be an even worse budget I predict.

If not the ECB, then who? You think the IMF?

murphaph

tommy21 wrote: »

Yeah, despite all the woes after the last budget, I felt for a bit we had turned a corner. But now the pressure and bad news is piling up again. It will be an even worse budget I predict.

But public sector salaries are protected (eith borrowed money) until 2014, that's the main thing, right?

sceptre

mox54 wrote: »

just heard today that <mod edit: a large transport company> has gone to the wall with the loss of <mod edit: over a hundred> jobs, so far its a rumour and i hope a false one but if true it's a real real shock to the town and the area, this recession is no longer funny...it's serious stuff with big businesses going bust and we have to question our politicians ability, are they blindly leading us down a dark alley for a good hiding!! and our business leaders, what way were they running their businesses????, i'm shocked:eek:

Mod note: Please don't speculate and name company names like this on the basis of some rumour you've vaguely heard. It puts us in dodgy legal territory as well as being plain irresponsible. I've edited out the identifiable bits.

jimmycrackcorm

Well its out on the news now.

Sponge Bob

http://www.rte.ie/news/2010/0814/jobs.html

Liam Carroll Transport and Refrigeration, which is based in Thurles, Co Tipperary, made the announcement to workers this morning, blaming the failure of the business on the economic downturn and bad debts.
The firm's owner, Liam Carroll, told RTÉ News he was deeply saddened by the company's closure and the loss of jobs.
Mr Carroll said he hoped that around 70 of his workers might be used by another company which would be taking on some of its contracts

1in4

Sad news indeed if it is as reported on rte news website. My heart goes out to everyone involved. Hopefully something can be done to limit the losses.
My concern is for the mental well-being of everyone involved. Tis time to look out for each other as family and as friends. I know too many people who have lost jobs else where in recent months.

http://www.rte.ie/news/2010/0814/jobs.html

MrDarcy

Hardly surprising at all, not in terms of the particular company that has ceased trading but the fact that we are still hearing on a daily basis that businesses of this size are closing almost every day of the week.

You can't expect to be able to keep doing the same thing, but then somehow expect the outcome to change. We accept a hopelessly incapable government that has yet to take one single action in relation to the continuance and protection of jobs, yet somehow we think that job losses are going to stop.

Then on the other hand, if we had a new government in the morning, what would really change??? Absolutely nothing and we all know it.

RichardAnd

MrDarcy wrote: »

Then on the other hand, if we had a new government in the morning, what would really change??? Absolutely nothing and we all know it.

precisely, and yet we are constantly told that a general election will be the firs step to recovery. No, the first step to real recovery will be the installation of a non populist government thought to be honest, if we keep going as we are the IMF will be happy to help us out there.

skelliser

I reckon the imf are our only hope at this stage.

I say bring them in now!

tommy21

skelliser wrote: »

I reckon the imf are our only hope at this stage.

I say bring them in now!

I'm not so sure I'm ready for the pain lol. Maybe someone more knowledgeable could inform us as to what would be likely to happen if this occurred? I'd read for instance that they would cull a large portion of civil service etc, impose sweeping cuts in pay across board etc.

RichardAnd

tommy21 wrote: »

I'm not so sure I'm ready for the pain lol. Maybe someone more knowledgeable could inform us as to what would be likely to happen if this occurred? I'd read for instance that they would cull a large portion of civil service etc, impose sweeping cuts in pay across board etc.

The IMF would balance the books as quickly as possible and they would not give a hoot about getting re elected so the cuts could be anywhere. My own predictions:

1. Social Welfare will be cut and by cut I mean CUT. Something along the lines of 50% across the board and possibly the removal of many benefits all-together.
2. Public Sector pay will certainly be cut and probably numbers also. I'd expect cuts to be in areas that don't bring in money. For example, Revenue would probably escape for obvious reasons but HSE would be in trouble.
3. Services like schools and hospitals will be closed. The days of the rural school with 15 students would be numbered and smaller hospitals too.

That's just my opinion but it's fairly straightforward. The IMF coming in would be both a dreadful thing and a good thing in the long run.

In the short term, we'd be left with a considerably poorer country. Class sizes would be larger and hospitals would be more crowded but our books would be balanced. We'd have a clean slate so to speak but does that mean I want the IMF in here, god no.

Mister men

One of the workers from this transport company was on the radio this morning. He was in tears. Very hard to hear a grown man like that break down with money worries. This country is in terrible trouble and it seems to be a slow burn process. Get the IMF i think and let's get a short sharp shock and maybe just maybe in 5 years time we can turn this around. We either take a few years of unbearable pain or the country is finished.

mox54

it's clear the train is running away from us and will become a wreck very soon, something urgently needs to stop our runaway train and either its a complete crash brought about by our incompetent government or a more controlled stop brough about by the imf, I personally fear for public order as the mood is getting nasty.........trying not to be a doom merchant but it's looking hairy at the moment.

RichardAnd

mox54 wrote: »

it's clear the train is running away from us and will become a wreck very soon, something urgently needs to stop our runaway train and either its a complete crash brought about by our incompetent government or a more controlled stop brough about by the imf, I personally fear for public order as the mood is getting nasty.........trying not to be a doom merchant but it's looking hairy at the moment.

At the moment, it's just people giving out. I think it would take something monumental to get people rioting.

MrDarcy

mox54 wrote: »

it's clear the train is running away from us and will become a wreck very soon, something urgently needs to stop our runaway train and either its a complete crash brought about by our incompetent government or a more controlled stop brough about by the imf, I personally fear for public order as the mood is getting nasty.........trying not to be a doom merchant but it's looking hairy at the moment.

I don't know why you would "fear for public order". The day that the toleration for the mismanagement of this country ceases, that will be a very healthy thing, whatever form it takes, be it peaceful protest or public disorder. Nothing was ever achieved by running with a situation and taking no position on it. If we look back at key events in the history of this country be it 1916 or the Civil War, there was a clearly a cause to be heard, an argument based on the principles of social justice to be made and there were also the inevitable public order issues at the time.

I actually worry more when I see people going hungry, people suffering extreme hardship as a result of the economic state that this country has been driven into, and there being no reaction or public order issues, it looks like the country is under some kind of an anastethic and that isn't a healthy thing.

Having said that, I wouldn't get involved in any protest in this country, peaceful, violent or otherwise, until I see the emergence of a worthy, inspiring and even semi credible political movement. I'll be f*cked if I'm putting my neck on the line to see some other expense snorting, sh*te talking, "I was born to be a Taoiseach", public sector minded, speech stiffled GIMP like Enda Kenny or Eamon Gilmore running this place.

Poly

MrDarcy wrote: »

Then on the other hand, if we had a new government in the morning, what would really change??? Absolutely nothing and we all know it.

We do need a root and branch review of how the state deals with small business, instead of trying to leech every penny out of a small struggling business, every clipbaord carrying public servent should be knocking on the door of that business asking how they can help that business survive.
The state need to realise that without SME's, were all fcuked.

MrDarcy

Poly wrote: »

We do need a root and branch review of how the state deals with small business, instead of trying to leech every penny out of a small struggling business, every clipbaord carrying public servent should be knocking on the door of that business asking how they can help that business survive.
The state need to realise that without SME's, were all fcuked.

The same assh*le government that is telling everyone that they have to improve competitiveness, doesn't have much to say when it comes to reducing commerial rates which are literallly KILLING SME's. Even the most beligerant of landlords out there that signed lease agreements at unrealistic peak rates, now see that in order to keep tenants in their property, they have to reduce rents to affordable levels, because the tenant is moving a lot less stock and is making much less of a magin on the stock that is moving or the service that is being provided, whichever the case may be.

Meanwhile back on the ranch, have you heard of one local council reducing commercial rates at all??? Take just for example a small, (and probably empty at the moment!), industrial unit around 500 Sq. Metres down around somewhere like Ballymount Industrial Estate, back in 2006, rent would have been around 40K a year, rates were probably around 8K.

Rent now can be as low as 20K for the same unit, but guess what still hasn't budged an inch, your rateable liability of 8K a year on that property, all paid for by small businesses to keep your local county council employee, "I'm on a work to rule so I'll not bother my arse answering your phone call", in a vastly overpaid 9:30AM-4:00PM job...

This is why people like myself are steaming at the ears on these kind of matters. You couldn't make this stuff up, the same government that is telling you to go to your landlord and force him/her into reducing rent, to go to your staff and cut their pay, is standing over sustaining and maintaining outrageously high commerical rates that you get absolutely nothing in return for. Then the money that is gathered up from this little exercise is pis*sed around all over the place, going on junkets and banquets for the worst type of inept arseho*le that you would find in a county, a career county counsellor.

I've no issue paying commercial rates once the money taken from me is being paid to keep someone in a job who is working as hard as I am, and seeing a union official on the FrontLine telling me that his members will not be answering phones or not doing their job because of some insane work to rule, while I'm getting the bill for that members wages, via a demand for commerical rates or VAT for that matter, is literally poking me in the eye.

hinault

I'm a Dub but I live in Thurles and I can tell you that Carrolls was one of the main employers in this town.

Thurles and it's environs are an economic blackspot - has been this way since the loss of the Sugar Factory and Jobst.

Carrolls closing is another nail in the coffin.