WTF? Developer gets elected for Wexford who owes €40,000,000

Ste.phen · 28-02-2011 01:46PM

As with the other threads i've seen on this guy, a general trend is appearing:

Most people speaking in praise of him have worked with him, know him, or have met him at some point
Most people complaining about and criticising him know almost nothing about the guy except that he's 'a developer'

Would that be about right?

wexfordia · 28-02-2011 01:51PM

Ste.phen wrote: »

As with the other threads i've seen on this guy, a general trend is appearing:

Most people speaking in praise of him have worked with him, know him, or have met him at some point
Most people complaining about and criticising him know almost nothing about the guy except that he's 'a developer'

Would that be about right?

I know plenty about Wallace. While I admire him for his work in Wexford football I still feel he contributed to the mess this country has found itself in. I don't fall for his 'man of the people' image even if others,ie Dublin gunner, are gullible enough to do so.

Dublin_Gunner · 28-02-2011 01:54PM

wexfordia wrote: »

I know plenty about Wallace. While I admire for his work in Wexford football I still feel he contributed to the mess this country has found itself in.

His loans aren't with Irish banks.

Care to expand on your statement now?

You obviously don't know 'plenty' about him.

I effing hate this bar-stool analysis by people who have NO IDEA what they're talking about.

wexfordia · 28-02-2011 01:58PM

Dublin_Gunner wrote: »

His loans aren't with Irish banks.

Care to expand on your statement now?

You obviously don't know 'plenty' about him.

I effing hate this bar-stool analysis by people who have NO IDEA what they're talking about.

The only bar stool analysis on this thread is coming from you Dublin gunner :rolleyes:

Dublin_Gunner · 28-02-2011 02:02PM

wexfordia wrote: »

The only bar stool analysis on this thread is coming from you Dublin gunner :rolleyes:

Ah, good come back. High IQ response. Very clever.

Anyway - care to explain your statement on Wallace contributing to the downfall of the Irish banking system? Or did you purposely not decide to go there, knowing you were wrong, and making a fairly futile attempt to rile me with a personal comment?

wexfordia · 28-02-2011 02:11PM

Dublin_Gunner wrote: »

Ah, good come back. High IQ response. Very clever.

Anyway - care to explain your statement on Wallace contributing to the downfall of the Irish banking system? Or did you purposely not decide to go there, knowing you were wrong, and making a fairly futile attempt to rile me with a personal comment?

I don't believe that I am wrong. Part of the economic mess that Ireland has found itself is due partly to overreaching developers. Among their ranks include a certain Michael Wallace. He is a failed businessman and is in no position to be pontificating on the state of the nation.

I didn't make any personal comment towards you. You said something about bar stool analysis which is just stupid. It deserved a sarcastic response. Don't be so sensitive. I didn't make a personal attack on you or insult a member of your family.

Dublin_Gunner · 28-02-2011 02:21PM

wexfordia wrote: »

I don't believe that I am wrong. Part of the economic mess that Ireland has found itself is due partly to overreaching developers. Among their ranks include a certain Michael Wallace. He is a failed businessman and is in no position to be pontificating on the state of the nation.

I didn't make any personal comment towards you. You said something about bar stool analysis which is just stupid. It deserved a sarcastic response. Don't be so sensitive. I didn't make a personal attack on you or insult a member of your family.

Seriously?? You have no idea what you are talking about.

The developers that have helped to put the irish banking system in the position it is in now, took their loans from Irish banks. Hence the issue in the first place.

Wallace did not. So I fail to see how you can bundle him into the same fold, apart from the fact that A) He's a developer and

owes money.

You obviously have little understanding of the current banking climate in this country, or to what extent stupid developers helped to compound the situation.

Wallace didn't borrow from Irish banks, because he couldn't trust them (and their interest rates were WAY too high for the loans he was considering). This 1 simple piece of evidence absolves him from ANY responsibility that other developers may have; in relation to the collapse of the banking system, and the formation of nama.

And even still, while yes, developers were foolhardy - its the banks and bondholders fault for giving the loans on no decent financial basis anyway.

I also fail to see how Wallace is a 'failed' businessman - care to enlighten me?

As far as I can see, he's paying his loans back, and his sites are earning profit.

Just because someone is a developer, doesn't make him bad. Please research what you're saying first.

Oh, and for clarification, I have no affiliation with Wallace at all. I don't even live anywhere near his constituency (being from Dublin). I just hate seeing mis-truths being spouted about his (or anyone's) situation.

It smacks of Fianna Fail and red top sensationalism.

mcsheehy · 28-02-2011 05:30PM

Mick Wallace has been and will continue to be a great asset to Wexford and Ireland. Well done Deputy Wallace on your great success!!!!!:)

kfallon · 28-02-2011 05:34PM

mcsheehy wrote: »

Mick Wallace has been and will continue to be a great asset to Wexford and Ireland. Well done Deputy Wallace on your great success!!!!!:)

Afternoon Mick :pac:

smodgley · 28-02-2011 06:05PM

mcsheehy wrote: »

Mick Wallace has been and will continue to be a great asset to Wexford and Ireland. Well done Deputy Wallace on your great success!!!!!:)

any season tickets goin free mick ??:p:pac:

dj jarvis · 28-02-2011 06:17PM

Brenireland wrote: »

Lad is a pure gob****e don't know what he's going to do in the dail.

i have seen mick wallace with a shovel in his hand digging holes in the ground in dublin city centre for years and years , he worked with and looked after his lads well , he stopped getting government contracts because he would not back down on a issue that made the goverment look like a bunch of gits
, they even rang him and told him as much , he told them to **** off ,
since then he has not got 1 gov contract , that is Ireland for ya
and you call him a pure gob****e , at least he worked hard and done work for his community - owes the Irish people nothing ,
hes not a td 1 day and your bad mouthing him , what ever happened to innocent till proven guilty ???
you brenireland are the gob****e !!! what have you done for ireland lately ??
let the ban commence for saying what everyone is thinking

Pauleta · 28-02-2011 06:24PM

As the Bill O'Reilly like character of boards. Even i would say that Mick Wallace is a very honorable guy despite being a left wing loon. He wants to help Wexford and Ireland to get back on its feet and i dont believe he is in it for himself, his businesses or in the belief of some screwball brand of politics. His intentions are good because he is a good man.

Sonnenblumen · 28-02-2011 06:25PM

Nevore wrote: »

Eh, he's in debt in the same way that a mortgage holder is in debt. :rolleyes:

How many €40mio mortgagees are out there?

MW does seem to have done alot at community level and sports. He was also against Euro, Lisbon etc? For someone who has a lot of debt to European banks, he doesn't seem to be much of a team player?

A colourful character, I wish him well.

Coriolanus · 28-02-2011 07:01PM

Sonnenblumen wrote: »

How many €40mio mortgagees are out there?

MW does seem to have done alot at community level and sports. He was also against Euro, Lisbon etc? For someone who has a lot of debt to European banks, he doesn't seem to be much of a team player?

A colourful character, I wish him well.

I mean it in the sense that it's irrelevant provided he's paying back the loan surely? It could 400m and if he's paying back the loans, he's in no way shape or form "at risk" of the banks going after him.

WalterMitty · 28-02-2011 09:32PM

Didnt he say on radio that he wasnt making his interest repayments to his bankers?

Coriolanus · 28-02-2011 09:45PM

WalterMitty wrote: »

Didnt he say on radio that he wasnt making his interest repayments to his bankers?

That was the case in January 2009. At least no one has been able to give a sauce any more recent than that. And given the amount of chasing around banks have done in the past two years to sieze assets etc from failed developers the fact that all of his are still in his hands suggests the properties are performing well enough to pay the loans now.

ShagNastii · 28-02-2011 10:26PM

IT is so so easy to paint him as one the "F'd the country" developers.

But from my expiriences Mick is definitely the real deal and very worthy of a place in the dail. I've seen most of his projects in Dublin and Wexford. They were and still are a huge success.

It is also easy to say it is not what he knows it is who he knows (gulity of parish pump politics). But I think everyone in Wexford see that the man was genuine. He got my number one as he more than anyone in the dail now, knows an enormous deal about "big scale" business. He has great conviction in his political views. He seems extremely legit in his actual interest in "people". You've seen yourself with his anti war banners and when he was on the late late a few years back expressing his concerns about the profit before people wreakless developments nationwide (he was commenting on the lack of amenites to the future recidents etc.)

It's hard to bulls*it this sort of thing. You see it week in week out on primetime and the frontline with TDs spewing crap beat into them by their party. When a public representive comes along who ACTUALLY deep down really does give a toss he/she will be the first to have my tick when I vote.

He'll probably get George Lee'd by the politics of the dail. But I guess it was a vote to express our want for real change by the people of Wexford. It is obivous with the likes of Ming, RBB and Joe Higgins being elected people want someone is who is above the handshaking, babykissing, dog carrying bulls*t which is probably 70% of your job in party politics.

The Pontiac · 28-02-2011 10:42PM

Pauleta wrote: »

Even i would say that Mick Wallace is a very honorable guy despite being a left wing loon. He wants to help Wexford and Ireland to get back on its feet and i dont believe he is in it for himself, his businesses or in the belief of some screwball brand of politics. His intentions are good because he is a good man.

I also think he's very honorable and his intentions are very good. He also has the appeal, as a non-conventional political type figure - the hippie look and says everything you want to hear.

He's also a failed businessman, which ever way you look at, with masses of debt. We now, more than ever, surely need politicians who know how not to get themselves bankrupt. I saw him of Vincent Browne recently and thought his political ideas were appalling or even non-existent.

Yes, he comes across as kind of cool and everything, but....

sandmanporto · 28-02-2011 11:28PM

Everybody in wexford is sick of politicians. Politicians mostly go back on their promises anyway! Why the hell do most of you give a sh*t, you aren't from wexford. Stop complaining for once!

The Pontiac · 28-02-2011 11:39PM

sandmanporto wrote: »

Why the hell do most of you give a sh*t, you aren't from wexford. Stop complaining for once!

He was elected to the Dail, to deal with the issues of the country (national issues). We shouldn't "give a shít because we're not from Wexford". Local politics is alive and well I see. Go out and vote for your local councilor then.

gigino · 28-02-2011 11:40PM

<Ollie> wrote: »

He's also a failed businessman, which ever way you look at, with masses of debt. We now, more than ever, surely need politicians who know how not to get themselves bankrupt.

He was a successful businessman until the regulator / central bank / politicians f***ed up. In a normal economy he would not be bankrupt. He has paid a fortune in various taxes + knows more about business than most of the politicians in the dail put together.

Solnskaya · 28-02-2011 11:45PM

dj jarvis wrote: »

i have seen mick wallace with a shovel in his hand digging holes in the ground in dublin city centre for years and years , he worked with and looked after his lads well , he stopped getting government contracts because he would not back down on a issue that made the goverment look like a bunch of gits
, they even rang him and told him as much , he told them to **** off ,
since then he has not got 1 gov contract , that is Ireland for ya
and you call him a pure gob****e , at least he worked hard and done work for his community - owes the Irish people nothing ,
hes not a td 1 day and your bad mouthing him , what ever happened to innocent till proven guilty ???
you brenireland are the gob****e !!! what have you done for ireland lately ??
let the ban commence for saying what everyone is thinking

Truth there anyway - if MW was a ruthless sc bag developer like some are painting him, he could have made far, far easier progress in business. The fact that he was a straight talker cost him millions over the years. Yes, he is a "different stroker", but at least we will be spared yet another "spout the bull**** with a straight face and sound sincere and they will buy anything we say" type. Hopefully, he will be a breath of fresh air.

HoneyRyder · 28-02-2011 11:53PM

sandmanporto wrote: »

Everybody in wexford is sick of politicians. Politicians mostly go back on their promises anyway! Why the hell do most of you give a sh*t, you aren't from wexford. Stop complaining for once!

Yeah Wexford and the rest of the country dude! And other posters 'give a sh*t' due to the small fact that the people we put in government will determine NATIONAL outcomes.

As an electorate, we should be demanding the very highest standards from those we choose to run our country and represent us on the international stage, not a defective builder who jumps on board to bail his own burning ship. As for those spouting about what he's done with regard to promoting soccer within his local community, Mick Wallace founded the Wexford Youths for the same reason he's now turned to politics -to fuel his own personal interests.

It really saddens me to think that in 2011 people are naive enough to think a pink t-shirt represents change.

Captain Havoc · 28-02-2011 11:55PM

Haven't watched it as I saw it when it was originally on but I'm pretty sure he says he owes €40m. I've known about him through Wexford Youths and he comes across as genuine. He also isn't running away from his obligations, fair play to him.

https://www.youtube.com/watch?v=j2Rsrw1IwV8

sandmanporto · 01-03-2011 12:00AM

<Ollie> wrote: »

He was elected to the Dail, to deal with the issues of the country (national issues). We shouldn't "give a shít because we're not from Wexford. Local politics is alive and well I see. Go out and vote for your local councilor then.

Im from wexford and i voted brendan howlin no1. If wallace will help locals out why SHOULDNT they vote for him. Stop this bitterness! Wexford have 2 fine gaels, 1 FF 1 LAB 1 INDP. a lot of counties voted independents Reasom: We're sick of false promises!

spyderski · 01-03-2011 12:21AM

Why the f**k does it matter what he owes - a figure of €40 million means nothing - its what he owes in relation to his assets/ability to repay. He owns property, not Anglo shares, so at least its still worth something. His developments on Russell Street & the North Quays in Dublin are well done and seem successful.
The guy has said he's not going to represent local issues- not going to help people getting council houses, medical cards etc. He's there to try to do something on a national level - He probably won't have much success, due to the civil servants & civil war politicians, but fair play to him for giving it a go.

Mahatma coat · 01-03-2011 02:17AM

The Bullsh!t closed minded nature of Ireland is painfully evident in this thread, How many of you Badmouthing Mick Wallace Knew anything about him before the Election? or even bothered yer holes to Find out anything about him during the campaign?

Mick Wallace Was Selected BY the People of Wexford on the first count to Represent them in the Dail. Granted there are some people who for whatever reason vehemently oppose Mick Wallace, Dont worry you alway have John Browne lookin after your interests :rolleyes:

And those who catogerise Mick as a Failed Business man, if thats your Idea of Failure then you must be Absolutley minted, Mick has built a succesful brand based onm Hard work, integrity and Quality.

He has built a reputation based on Honesty Fairness and Decency

Let he who is without sin take the throw in :pac:

sandmanporto · 01-03-2011 02:26AM

Mahatma coat wrote: »

The Bullsh!t closed minded nature of Ireland is painfully evident in this thread, How many of you Badmouthing Mick Wallace Knew anything about him before the Election? or even bothered yer holes to Find out anything about him during the campaign?

Mick Wallace Was Selected BY the People of Wexford on the first count to Represent them in the Dail. Granted there are some people who for whatever reason vehemently oppose Mick Wallace, Dont worry you alway have John Browne lookin after your interests :rolleyes:

And those who catogerise Mick as a Failed Business man, if thats your Idea of Failure then you must be Absolutley minted, Mick has built a succesful brand based onm Hard work, integrity and Quality.

He has built a reputation based on Honesty Fairness and Decency

Let he who is without sin take the throw in :pac:

Well said. The people complaining who arent even from wexford should complain about who people in their county voted for they dont like. Nobody here even knew about wallace

Chardee MacDennis · 01-03-2011 04:09AM

Oh ffs this is a cluster f**k of people not knowing what they are talking about!

A company having 40m of loans isn't a bad thing in itself - people are aware of this right? It's not as if the 40m is due tomorrow and he's not got it - his loans have probably years to pay off and have probably been restructured for his drop if income.

People know that man utd, for example, owe about £770m, Boeing owe about $11bn in long term debt and BP owe around $30bn - do these companies not know how to run a business?

Anyone saying Wallace is a big bad property developer based on hearing he has 40m worth of loans and doesn't know the ins and outs of his debts knows nothing and economics and running a business...

Freddie59 · 01-03-2011 06:40AM

jimmynokia wrote: »

just goes to show what kind of government people want dont it
if i owed the bank 4 grand i would be hounded till death yet he and the other bankers/developers walk scott free with there hidden cash fancy houses and cars just diabolic if you ask me

There are two old sayings about banks (from the 80s so adjust the amounts as required):

1. If you owe the banks €10,000 it's your problem. If you owe them
€100,000 its THEIR their problem.

2. If you owe the banks €10,000 they'll take you to court. If you owe them
€100,000 they'll take you to dinner.

Just about covers it. I dont know the chap, but, according to him anyway, he's not in NAMA and is solvent. If he becomes bankrupt he'll lose the Dail seat. But Independents are a moot point anyway, given the huge majority FG/Lab have. A dangerous thing. New Labour anyone?

WTF? Developer gets elected for Wexford who owes €40,000,000

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