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

fifth

+1 PK2008

Sure maybe there'll be a by-election within the year for whatever reason and Mick D'arcy (Wex FG who was pipped in the count) might get back in.

wow sierra

I am delighted Mick Wallace got elected. I have admired the man for about 15 years for many and varied reasons - from first becoming aware of him because of the motto on his building vehicles "Work hard, play hard" and the football. Then I liked his appearance - despite running a sucessful company he dressed like a hippy, an individual.
Then there were his political banners hanging a few stories high on the Dublin quays urging people to become aware of issues which were important to him at the time - sometimes I agreed with him sometimes not but I always admired his balls for expressing his views so strongly.

I liked his passion for Italy which included bringing young soccer players there, becoming an expert in wine and becoming an importer of wine, setting up the very popular Italian Quarter of Italian restaurants and shops off the quays in Dublin.

He has been involved hands on with underage soccer in Wexford for years as well as contributing in a huge way financially and with his time to Wexford Youths.

I never met the guy but people who know him - like the electorate in Wexford for instance - really like him as a person.

Some people contribute very little to society - some contribute a lot. Mick is one of the latter.

I would be curious as to whether the OP had even heard of the guy before a month ago??

ebixa82

Retarded that some people try to tarnish all developers with the same brush. If the ignorant, lazy folk bothered to take the time to read up about Mick Wallace they might change their tune.

He spoke out about the reckless actions of Irish banks and developers years ago. All the good work he has done and developments he built have been detailed already.

He's a very smart and honest person. Thankfully the electorate had enough sense to vote him in. Best of luck to him!

StephenHendry

thats democracy lads, anyone can run as an independant , there were a few who ran and got less than 100 votes.


mick is involved in everything it seems down in wexford , from wexford youths in the soccer to every other local thing. he seems an alright kind of guy as well

average_runner

He is repaying his loans to the banks but he isnt repaying all the small people that he owes money to in wexford!!

CDfm

By comparison ex Fine Gael Michael Lowry got in. Ivana Bacik with her anti-man bile is an a recount situation for a last seat and Labour has had its best ever result despite representing unahamedly Public Service workers and close links to the FAS & HSE slush fund people and Board members of the Central Bank.

I wonder how much of this stuff will get buried with the coallition ???

Well, it shouldnt if FG's new type of government has been elected as it should not be "power before principles".

Cantona's Collars

average_runner wrote: »

He is repaying his loans to the banks but he isnt repaying all the small people that he owes money to in wexford!!

Don't pay the banks,get declared bankrupt and the small people never get their money.Which would you want?
Wallace was always outspoken about developers and included himself in the criticism and derided the policy of greed that has us in the state we're in.All of his developments are in areas that ensure they are worth something and generate revenue unlike the countless vacant developments around the country so I reckon he needn't worry about bankrupcy.
I'd rather someone outspoken and honest about his finances than the usual snakes we elected over the years.

CDfm

There is a need to have someone like him in the Dail to challenge the Developer rhetoric we here.

Enterprise culture.

The problems we are in are not developer driven but banking and insufficient regulation driven

It was an old fashioned banking collapse caused by a boom in credit by borrowed funds and not shareholders funds at the banks. The regulator should have spotted it.

For those who are really interested

Recommended: Patrick Honahan on the Irish Banking Crisis

12 August, 2009


For a balanced and informative overview of the Irish banking crisis, I recommend “Resolving Ireland’s Banking Crisis” by Patrick Honahan in The Economic and Social Review, Vol. 40, No. 2, Summer, 2009, which is available online here.
Described as a “Policy Paper”, it is written in a calm, dispassionate manner; however, if one deconstructs the understated and analytical prose, one is left in no doubt that we taxpayers are victims of a massive failure by our highly-paid regulators to do their job properly.
It is worth reading all of it (and it is no hardship to do so), but here are a few quotes which I think are worth highlighting.

Although international pressures contributed to the timing, intensity and depth of the Irish banking crisis, the underlying cause of the problem was domestic and classic: too much mortgage lending (financed by heavy foreign borrowing by the banks) into an unsustainable housing price and construction boom…..

How could traditionally conservative banks – some of them with a 200-year history – have been so careless as to leave themselves exposed in such a conspicuous and obvious property bubble? ….
Banks …. began to increase the share of their assets in property-related lending from less than 40 per cent before 2002 to over 60 per cent by 2006…..
According to the 2006 census of population, some 15 per cent of the housing stock was vacant at census date, mostly reflecting speculative purchasing of additional housing by prosperous households (less than 3 percentage points of that being holiday homes)……
…..a renewed acceleration of house prices from 2003 was also fuelled by a reversal of earlier tax tightening, reinforcing Ireland’s tax bias towards construction……
…..banks had not been the main players in the residential mortgage market until the late 1980s: before then, fiscal privileges ensured that building societies held the lion’s share of that business. Thus the banks were not steeped in the deeply ingrained suspicion of the mortgage market as a source of systemic difficulties that now prevails in, for example, Japanese banks……
A very simple warning sign used by most regulators to identify a bank exposed to increased risk is rapid balance sheet growth. An annual real growth rate of 20 per cent is often taken as the trigger. Each of the locally-controlled banks had at least one year in which this threshold was triggered. One of them, Anglo Irish Bank, crossed it in eight of nine years, and indeed its average annual rate of growth 1998-2007 was 36 per cent….. this was a very obvious and public danger sign not only for these two banks, but because of the potentially destabilising effect of reckless competition on the entire sector (Honohan, 1997). The rapid growth in the market share of Anglo Irish (from 3 to 18 per cent of the total assets of the six locally-controlled institutions that subsequently received the Government guarantee) was certainly an important influence inducing the other banks to relax lending terms to avoid losing even more market share……
It might be thought that nationalising the banks on a semi-permanent basis and requiring them to pursue government objectives instead of profit would ensure an increased flow of lending enhancing the public good. But the evidence from around the world is that private for-profit banking systems have, in normal times, contributed more to growth (and poverty reduction) than government-controlled ones. The latter, responding to political pressures, tend to keep large but faltering borrowers afloat for much longer than is healthy for the economy as a whole (cf. World Bank, 2001, 2008, for reviews of the evidence). So, even for banks over which it acquires a controlling stake, I would not be advocating close administrative direction over lending policies. Government may wish to shape the overall strategy for its banks, but should remain at arms length from lending policy…….
….the danger of regulatory over-reaction must be present, and there is insufficient evidence in the public domain as to the current stance of regulatory policy. Reforms to incentive structures for management would of course be good. But much of the current global rethinking of regulatory design will not necessarily be particularly relevant to the Irish scene: the Irish problems relate to a very old-fashioned credit boom and not to financial innovation. The failure was one of insufficient scepticism on the part of the Regulator.

http://puckstownlane.wordpress.com/2009/08/12/recommended-patrick-honahan-on-the-irish-banking-crisis/

The cause and effect of the boom and the crisis are simple enough to analyse.

Korvanica

OP try looking at some of Mick Wallaces other attributes instead of just "OMFG HE OWES 40M" ... you sound like a broken record for fooks sake

Dempo1

There is no doubt about it, Mick Wallace had some result but i suspect its primarily because of his work locally, particularly supporting local sporting clubs. He is also seen as a Maverick.

What will however be interesting is if any of the Banks enforce judgments or seek bankruptcy because if this happens, his dail seat will be forfeited.

CDfm

Korvanica wrote: »

OP try looking at some of Mick Wallaces other attributes instead of just "OMFG HE OWES 40M" ... you sound like a broken record for fooks sake

Yeah, but did he create the Euro - did he ????

Monetary Union (EMU) entry that really started the housing price surge by
sharply lowering nominal and real interest rates, thereby lifting equilibrium
asset prices (Figure 2). The combination of higher population, higher income
and lower actual and pros pective mortgage interest rates clearly provided a
straightforward upward shift in demand, i.e. in the willingness and ability to
pay for housing.3
The problem is that property prices developed their own momentum and
overshot equilibrium levels as calculated by all models.

The full Patrick Honahan article is here

http://www.esr.ie/Vol40_2/Vol-40-2-Honohan.pdf

The German & French banks lent to the Irish and the Euro created unprecedented circumstances.

Simply, not Mick Wallace a builder from Wellington Bridge Wexford's fault.

I cant see how it is.

Coriolanus

Dempo1 wrote: »

There is no doubt about it, Mick Wallace had some result but i suspect its primarily because of his work locally, particularly supporting local sporting clubs. He is also seen as a Maverick.

What will however be interesting is if any of the Banks enforce judgments or seek bankruptcy because if this happens, his dail seat will be forfeited.

Eh, he's in debt in the same way that a mortgage holder is in debt. He's making payments, not defaulting on them. THe banks have no reason, or legal standing to go after him unless he can't make payments, but the same could be said of any td who has a mortgage and doesn't make payments. :rolleyes:

Dempo1

Nevore wrote: »

Eh, he's in debt in the same way that a mortgage holder is in debt. He's making payments, not defaulting on them. THe banks have no reason, or legal standing to go after him unless he can't make payments, but the same could be said of any td who has a mortgage and doesn't make payments. :rolleyes:

Yes indeed he is and i am not suggesting he is not making repayments etc, just pointing out the fact that if say a bank went after him (as a lot are with other developers) he could face the risk of being declared bankrupt which essentially means he can not serve in the dail.

For the record, i have long admired Mick Wallace and congratulate him. He has a record of decency, particularly when it comes to his employee's which is a Far cry from other developers, won't name anyone but i think anyone in the sector knows whom i refer too.

stovelid

Bumped into him this morning, believe it or not.

Also not sure I would agree with just anybody seeking - and getting office - but Wallace seems to be OK. At leas he has made some social contribution: nice restaurants, the commerical rejuvantion of that stretch of the north Liffey and Wexford Youths, who he appears to finically support in a sustainable, comunity-based way and not a vanity model that lopsides wages in the league of ireland.

From what I know, he's not welching his debts and taxpayers are not footing them and as such, the amount shouldn't be held against him.

I think some people has simply swung from an unthinking embrace of economic policies (An extra tenner a week, cool! fuck the underpiaid and the doomsayers) to a misplaced (and far too late) outrage any tenuous target that presents itself. Witness some of the arguments in this thread that amount to little more than he has debts = he is a cunt.

Dublin_Gunner

HoneyRyder wrote: »

It matters a lot. Owing 40 million shows he isn't very good at decision making for a start. But I'm not worried about that when it's his own business, but electing him to government where he'll be making decisions on the country's behalf makes it everyone's business.

Hold on, owing money to banks means he isn't a good decision maker?? Have you ever ran a business or developed??

I'm sorry, but the amount of tripe spouted by clueless posters is astonishing.

He took loans to get his projects off the ground, like any other business or developer. There is ALWAYS risk involved.

Things didn;t work out as he had planned - not his fault. His businesses are still making money though, and he's paying back his debts - just like he planned.

He's poured money into his local community - not for gain or profit.

People need to understand that merely 'being' a developer doesn't put you in the same league as the fookers leaving 1/4 finished housing estates around the country, and the tax paying public paying for their loans.

If more developers were more like him, then maybe NAMA would never have come into existence in the first place.

Get a clue before posting.

Fair play to him, and honest developer. Few and far between they are, these days.

CDfm

Dublin_Gunner wrote: »

People need to understand that merely 'being' a developer doesn't put you in the same league as the fookers leaving 1/4 finished housing estates around the country, and the tax paying public paying for their loans.

If more developers were more like him, then maybe NAMA would never have come into existence in the first place.

Even these guys took a risk - got loans etc - the lending policies of the banks and the regulatory environment which allowed them to lend was such.

The banks need to be there - sure - but the bondholders who lent the money to the banks which got lent on to the builders own some of this problem too.

Dave!

Don't know anything about him, but sounds like a good guy

alejandro1977

A HIGH-PROFILE developer has accused Finance Minister Brian Lenihan of "not telling the truth" over claims that the majority of developers were making interest payments to Anglo Irish Bank.

Mick Wallace of Wallace Construction said yesterday that he, along with a number of other developers, could not afford to pay their loan interest.

http://www.independent.ie/national-news/lenihan-not-telling-truth-on-interest-payment-by-developers-1622498.html

wexfordia

Dublin_Gunner wrote: »

Hold on, owing money to banks means he isn't a good decision maker?? Have you ever ran a business or developed??

I'm sorry, but the amount of tripe spouted by clueless posters is astonishing.

He took loans to get his projects off the ground, like any other business or developer. There is ALWAYS risk involved.

Things didn;t work out as he had planned - not his fault. His businesses are still making money though, and he's paying back his debts - just like he planned.

He's poured money into his local community - not for gain or profit.

People need to understand that merely 'being' a developer doesn't put you in the same league as the fookers leaving 1/4 finished housing estates around the country, and the tax paying public paying for their loans.

If more developers were more like him, then maybe NAMA would never have come into existence in the first place.

Get a clue before posting.

Fair play to him, and honest developer. Few and far between they are, these days.

Well someone running up 40 million euro in debt doesn't suggest that he has much business acumen. It is partly his fault by the way. It was his business and he was running it badly.

Dublin_Gunner

CDfm wrote: »

Even these guys took a risk - got loans etc - the lending policies of the banks and the regulatory environment which allowed them to lend was such.

The banks need to be there - sure - but the bondholders who lent the money to the banks which got lent on to the builders own some of this problem too.

Yep, and I stated as much in my post. There is ALWAYS risk. Hence the term 'entrepreneur'. Wallace is the personification of that term.

And as he's stated, he couldn't trust the Irish banks with the loans he wanted - hence he went elsewhere. Our banks tried to make a quick buck with high interest rates, rather than look at the long term future of the loan. This fooked up other developers who were not as clued in, and fooked over those who thought they'd get away with it by selling off their assets before being hit with the high interest rates.

How wrong they were. They were / are the developers who took the huge loans, without any plan on how they'd pay them back.

Well someone running up 40 million euro in debt doesn't suggest that he has much business acumen. It is partly his fault by the way. He was his business and he was running it badly.

Get a clue. Seriously. 40m is NOTHING for a big developer. One medium sized residential site would have financed that no problem, if the bubble didn't burst.

And Wallace, in fairness, is paying back his loans, and I believe his sites are earning profit. (if you take monthly income v loan repayment into account). He hasn't dumped his sites and ran off, leaving nama to pick up the deficit, and the rest of us paying the bill for an unfinished site and massive loan.

Developers (as well as pretty much ANY business) always have relied on bank loans to pay for work to be done, it minimises their personal risk in a development. Anyone who thinks developers pay for everything out of their own pocket is seriously ignorant, or stupid. You decide which you are.

Ste.phen

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

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

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

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

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

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

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

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

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

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

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

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

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

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

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

Coriolanus

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

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

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

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

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

<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

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

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

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

<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

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

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

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

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

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?