Advertisement
Help Keep Boards Alive. Support us by going ad free today. See here: https://subscriptions.boards.ie/.
https://www.boards.ie/group/1878-subscribers-forum

Private Group for paid up members of Boards.ie. Join the club.
Hi all, please see this major site announcement: https://www.boards.ie/discussion/2058427594/boards-ie-2026

Ivan Yates - Celtic Bookmakers

  • 04-01-2011 01:56PM
    #1
    Atilathehun
    Closed Accounts Posts: 521 ✭✭✭


    I see Celtic Bookmakers have gone belly up.

    http://www.irishtimes.com/newspaper/breaking/2011/0104/breaking31.html

    In his statement Mr Yates said of the collapse of his business "we didn't see it coming" and "I acknowledge that the rapid expansion of the group in a few years left it vulnerable in a downturn"

    Makes me laugh in one sense. Right here we have yet another media personality in the TV3 / Newstalk stables, preaching down their noses to the politicians, the unions, private sector employers, etc as to how things should have been handled over the past number of years.
    The media personalities I refer to are Vincent Browne, George Hook and now Ivan Yates.
    What do they have in common. They are all failed business men in their own rights, and yet think nothing of telling everybody else how the country should be run, and how it should have been run :cool::cool: FFS:rolleyes:


«134

Comments

  • #2
    snubbleste
    Banned (with Prison Access) Posts: 31,119 ✭✭✭✭snubbleste


    I thought his statement was extremely sincere.
    He has given personal guarantees to the banks including his mother's house. He has provided employment and attempted to turn the business around. Fair play to him.

    30 firms went bust in Ireland every week last year.


  • #3
    finnegan2010
    Registered Users, Registered Users 2 Posts: 289 ✭✭finnegan2010


    Whats Scary is with all the Money he has big house big government pensions. He is a smart guy... If HE cant keep a company afloat what chance have the smaller guys thats scary. And i thought this betting lark was a money spinner????????

    In any event I think he is great on newstalk and wish him the best and hope it all works out


  • #4
    drunkmonkey
    Registered Users, Registered Users 2 Posts: 28,470 ✭✭✭✭drunkmonkey


    He was a successfull business man and probably will be again. I admire anyone who put there balls in their hands and tries to make a go of it and create some jobs.
    It can't be easy to let all your staff go, he must be heartbroken.

    He became famous for being a good business man and a political not the other way round.

    How many jobs did you create ever?


  • #5
    Atilathehun
    Closed Accounts Posts: 521 ✭✭✭Atilathehun


    snubbleste wrote: »
    I thought his statement was extremely sincere.
    He has given personal guarantees to the banks including his mother's house. He has provided employment and attempted to turn the business around. Fair play to him.

    30 firms went bust in Ireland every week last year.

    Doesn't disguise the fact that greed represented by rapid and unsustainable expansion, was a big factor in the collapse. He is every morning pontificating abut the self same greed and hubris in the banking and property secors which have brought us to where we are now.

    Double standards in the media.


  • #6
    snubbleste
    Banned (with Prison Access) Posts: 31,119 ✭✭✭✭snubbleste


    Atilathehun wrote: »
    Doesn't disguise the fact that greed represented by rapid and unsustainable expansion, was a big factor in the collapse. He is every morning pontificating abut the self same greed and hubris in the banking and property secors which have brought us to where we are now.
    Double standards in the media.

    Simple fact is that rents are high, fierce competition from online outlets, disposable income is down.
    He could have wound down the business 3 years ago when he noticed a downturn but decided to preservere. It's good to take risks.


  • Advertisement
  • #7
    Atilathehun
    Closed Accounts Posts: 521 ✭✭✭Atilathehun


    drunkmonkey wrote: »
    He was a successfull business man and probably will be again. I admire anyone who put there balls in their hands and tries to make a go of it and create some jobs.
    It can't be easy to let all your staff go, he must be heartbroken.

    He became famous for being a good business man and a political not the other way round.

    How many jobs did you create ever?

    My point is simply about big media personalities, preaching how business should be done and how it should have been done, BUT, at the same time failing in their own businesses! That's all.
    They have some neck, in my opinion to pick over the business failings of others, whilst failing themselves in business.
    Like the late Gerry Ryan preaching about the dangers of drugs, and ........ you know the rest.
    Double standards.


  • #8
    finnegan2010
    Registered Users, Registered Users 2 Posts: 289 ✭✭finnegan2010


    Hmmm I cant wait to see how the "Hookie Monster" tackles this story later on Newstalk....
    Will he be asking the hard questions?


  • #9
    MidlandsM
    Banned (with Prison Access) Posts: 5,734 ✭✭✭MidlandsM


    In fairness to hook, I've never heard him TELL anybody on how to run the country.


  • #10
    Atilathehun
    Closed Accounts Posts: 521 ✭✭✭Atilathehun


    MidlandsM wrote: »
    In fairness to hook, I've never heard him TELL anybody on how to run the country.

    He tells everybody how to do their business ,.......... INCLUDING, ........ Declan Kidney:eek: He knows everything about business and rugby ........ but he failed at both:D


  • #11
    [Deleted User]
    Posts: 23,497 ✭✭✭✭ [Deleted User]


    Tough business, there are betting offices everywhere nowadays and many of them are loss making. If the statement in the article is factual and correct it seems he did all he could and is now in severe financial difficulty.


  • Advertisement
  • #12
    finnegan2010
    Registered Users, Registered Users 2 Posts: 289 ✭✭finnegan2010


    Hmm i was allways wondering why Yates needed the newstalk gig !!!!! so in fairness he defo needs the gig now, unlike that hungry fecker hook. He would sell the lovely Ingrid if there was some "Moneyyyyhhhhhhhhh" in it


  • #13
    danbohan
    Closed Accounts Posts: 1,914 ✭✭✭danbohan


    Atilathehun wrote: »
    Doesn't disguise the fact that greed represented by rapid and unsustainable expansion, was a big factor in the collapse. He is every morning pontificating abut the self same greed and hubris in the banking and property secors which have brought us to where we are now.

    Double standards in the media.

    he tried he failed so what , as you were asked earlier how many jobs have you ever created , until you have tried something dont laugh at somebody like ivan yates etc who have and have failed . it makes you seem very public servant type


  • #14
    Dodge
    Registered Users, Registered Users 2 Posts: 11,169 ✭✭✭✭Dodge


    danbohan wrote: »
    it makes you seem very public servant type

    How the hell did you come to that conclusion? :rolleyes:


  • #15
    Atilathehun
    Closed Accounts Posts: 521 ✭✭✭Atilathehun


    danbohan wrote: »
    he tried he failed so what , as you were asked earlier how many jobs have you ever created , until you have tried something dont laugh at somebody like ivan yates etc who have and have failed . it makes you seem very public servant type

    You miss my point. I admire Mr Yates for his tried and failed approach. I don't understand how he can have the credibility to come on air and pick holes in say Bernard McNamara's failures for example. McNamara and his ilk flew to high too fast and suffered the consequences.
    Yates and his media mates picked over the bones of those failures with complete gusto. Rightly so on one level.
    But one bunch of failures telling another bunch of failures how to do business, in my mind is a bit Irish.


  • #16
    danbohan
    Closed Accounts Posts: 1,914 ✭✭✭danbohan


    Dodge wrote: »
    How the hell did you come to that conclusion? :rolleyes:

    i have d nose for dm darling , i can be smelling them , i can


  • #17
    Atilathehun
    Closed Accounts Posts: 521 ✭✭✭Atilathehun


    danbohan wrote: »
    he tried he failed so what , as you were asked earlier how many jobs have you ever created , until you have tried something dont laugh at somebody like ivan yates etc who have and have failed . it makes you seem very public servant type

    I created one job. I'm self employed. Have been for 22 years. Regularly hire in help when I can't cope myself in a given job.
    I'm a regular listener to Yates, and always think he does a good show. Never afraid to ask the hard question on air, and make salient commentary on all the wreckless carry on in business, banking and public life over the past number of years.
    Now hearing the news about himself today ............... well to be honest, I feel like the kettle has been shouting black arse to the pot:cool:


  • #18
    danbohan
    Closed Accounts Posts: 1,914 ✭✭✭danbohan


    Atilathehun wrote: »
    You miss my point. I admire Mr Yates for his tried and failed approach. I don't understand how he can have the credibility to come on air and pick holes in say Bernard McNamara's failures for example. McNamara and his ilk flew to high too fast and suffered the consequences.
    Yates and his media mates picked over the bones of those failures with complete gusto. Rightly so on one level.
    But one bunch of failures telling another bunch of failures how to do business, in my mind is a bit Irish.

    in my mind is a bit Irish.[/QUOTE]

    you have a point
    another typical irish thing is laughing at the ones that fail , compare the attitude here to USA


  • #19
    Paulzx
    Registered Users, Registered Users 2 Posts: 2,082 ✭✭✭Paulzx


    danbohan wrote: »
    . it makes you seem very public servant type


    For the love of God:rolleyes:


  • #20
    zig
    Registered Users, Registered Users 2 Posts: 1,206 ✭✭✭zig


    Dodge wrote: »
    How the hell did you come to that conclusion? :rolleyes:
    Paulzx wrote: »
    For the love of God:rolleyes:
    jesus I wish theyd ban those rolley eyes,

    anyway, just listened to the interview, I have to say I havent heard such an honest straight forward one in a while, he seems to be taking full responsibility for the failures and consequences, I know he has no choice but at least he is up front about the whole situation.
    Ironic that he set up a bookies (which in theory is the only winner in gambling), yet he seems to have gambled everything hes got on it and lost.


  • #21
    jmayo
    Registered Users, Registered Users 2 Posts: 13,226 ✭✭✭✭jmayo


    Atilathehun wrote: »
    He tells everybody how to do their business ,.......... INCLUDING, ........ Declan Kidney:eek: He knows everything about business and rugby ........ but he failed at both:D

    Please enlight us ?
    Atilathehun wrote: »
    You miss my point. I admire Mr Yates for his tried and failed approach. I don't understand how he can have the credibility to come on air and pick holes in say Bernard McNamara's failures for example. McNamara and his ilk flew to high too fast and suffered the consequences.
    Yates and his media mates picked over the bones of those failures with complete gusto. Rightly so on one level.
    But one bunch of failures telling another bunch of failures how to do business, in my mind is a bit Irish.

    You claim he has no right to pick holes in mcnamara's business plan so lets look at how similar they are.

    mcnamara engaged in wreckless borrowing based on a completely bubble industry continuing as it had for the preceeding years.
    mcnamara together with his political and banking buddies subverted a state owned quangoe into becoming a developer leaving the taxpayer with the attached risk (this was done long before NAMA ever came into being).
    mcnamara's near 1 billion euro of gambles are not being covered by us the taxpayers.

    Now can you please tell us how Yates has made the Irish taxpayer responsible for his gambles which I bet come nowhere near those of mcnamara ?

    I am not allowed discuss …



  • Advertisement
  • #22
    Dodge
    Registered Users, Registered Users 2 Posts: 11,169 ✭✭✭✭Dodge


    jmayo wrote: »
    Now can you please tell us how Yates has made the Irish taxpayer responsible for his gambles which I bet come nowhere near those of mcnamara ?

    I'd argue that his ministerial pension allowed him the freedom of being slightly more aggressive than he would've been if he need Celtic to survive.

    Obviously no where on the scale of McNamara


  • #23
    Rubik.
    Closed Accounts Posts: 1,185 ✭✭✭Rubik.


    It is one thing to take risks with your own money, but to also risk your 78 year old mothers home - thats just irresponsible.


  • #24
    Atilathehun
    Closed Accounts Posts: 521 ✭✭✭Atilathehun


    jmayo wrote: »
    Please enlight us ?



    You claim he has no right to pick holes in mcnamara's business plan so lets look at how similar they are.

    mcnamara engaged in wreckless borrowing based on a completely bubble industry continuing as it had for the preceeding years.
    mcnamara together with his political and banking buddies subverted a state owned quangoe into becoming a developer leaving the taxpayer with the attached risk (this was done long before NAMA ever came into being).
    mcnamara's near 1 billion euro of gambles are not being covered by us the taxpayers.

    Now can you please tell us how Yates has made the Irish taxpayer responsible for his gambles which I bet come nowhere near those of mcnamara ?

    Did I say something about the taxpayer being responsible for Yates's debt's. No I didn't!
    I do however suggest that Yates got caught up in the hubris of the bubble and expanded his business at an unsustainable pace.
    At the same time, he has taken strips out of other business people for making essentially the same mistake. That's my only point about Yates.

    By the way, you are typing quicker than your brain can think! Read your blather about McNamara, and correct the statement about his gambles NOT, being covered by the tax payer.


  • #25
    Atilathehun
    Closed Accounts Posts: 521 ✭✭✭Atilathehun


    Quote:
    Originally Posted by Atilathehun viewpost.gif
    He tells everybody how to do their business ,.......... INCLUDING, ........ Declan Kidneyeek.gif He knows everything about business and rugby ........ but he failed at bothbiggrin.gif

    Please enlight us ?


    That comment was about the right honorable Mr G Hook ............ not Mr Yates.


  • #26
    Paulzx
    Registered Users, Registered Users 2 Posts: 2,082 ✭✭✭Paulzx


    zig wrote: »
    jesus I wish theyd ban those rolley eyes,

    .

    Wrong forum. Try Feedback Forum

    :rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes::rolleyes:


  • #27
    Mongarra
    Registered Users, Registered Users 2 Posts: 1,119 ✭✭✭Mongarra


    Apart from his mother's house being vulnerable, I feel sorry for the 100 or so employees. The little I know of Ivan from a friend of a friend, he is sincere and I would think he is distressed about the job losses and the implications for his family. I know the latter would be at the forefront of any business failure but he would have thought long and hard about pulling the plug rather than just say 'to hell with it' and walk away.


  • #28
    MidlandsM
    Banned (with Prison Access) Posts: 5,734 ✭✭✭MidlandsM


    Atilathehun wrote: »
    Quote:
    Originally Posted by Atilathehun viewpost.gif
    He tells everybody how to do their business ,.......... INCLUDING, ........ Declan Kidneyeek.gif He knows everything about business and rugby ........ but he failed at bothbiggrin.gif

    Please enlight us ?


    That comment was about the right honorable Mr G Hook ............ not Mr Yates.

    but its still an erronious comment. You sir are talking bollox.:o


  • #29
    bamboozle
    Registered Users, Registered Users 2 Posts: 3,699 ✭✭✭bamboozle


    Atilathehun wrote: »
    I see Celtic Bookmakers have gone belly up.

    http://www.irishtimes.com/newspaper/breaking/2011/0104/breaking31.html

    In his statement Mr Yates said of the collapse of his business "we didn't see it coming" and "I acknowledge that the rapid expansion of the group in a few years left it vulnerable in a downturn"

    Makes me laugh in one sense. Right here we have yet another media personality in the TV3 / Newstalk stables, preaching down their noses to the politicians, the unions, private sector employers, etc as to how things should have been handled over the past number of years.
    The media personalities I refer to are Vincent Browne, George Hook and now Ivan Yates.
    What do they have in common. They are all failed business men in their own rights, and yet think nothing of telling everybody else how the country should be run, and how it should have been run :cool::cool: FFS:rolleyes:

    give him a break, he like many thousands of business owners all around this country have suffered dreadfully at the hands of the 'upwards only' rental agreements in place in Ireland. so many business owners are cutting costs left right and centre yet they cannot touch one of their largest costs rent.

    if we're to get out of this mess, we need entrepreneurs, not reckless property developers who have FF's ear, proper entrepreneurs who will set up companies, create employment and help grow the national economy and in turn state tax coffers.


  • #30
    drunkmonkey
    Registered Users, Registered Users 2 Posts: 28,470 ✭✭✭✭drunkmonkey


    Dodge wrote: »
    I'd argue that his ministerial pension allowed him the freedom of being slightly more aggressive than he would've been if he need Celtic to survive.

    I very much doubt it, his wage bill for celtic was probably 100,000 a week. A state pension is a blip in comparison.


  • Advertisement
  • #31
    delta_bravo
    Registered Users, Registered Users 2 Posts: 4,571 ✭✭✭delta_bravo


    drunkmonkey wrote: »
    He was a successfull business man and probably will be again. I admire anyone who put there balls in their hands and tries to make a go of it and create some jobs.
    It can't be easy to let all your staff go, he must be heartbroken.

    He became famous for being a good business man and a political not the other way round.

    How many jobs did you create ever?

    Plenty of failed developers and captains of industry have said similar things but definitely wouldn't get such levels of sympathy and praise for "taking the risk and having a go of it"


Advertisement
Advertisement