Jump to content


Photo

Developers In Trouble


  • Please log in to reply
1254 replies to this topic

#31 BelfastVI

BelfastVI

    HPC Veteran

  • Members
  • PipPipPipPip
  • 2,772 posts
  • Location:Belfast

Posted 07 July 2008 - 08:48 AM

Anyone read the Sunday Times yesterday?

#32 little fish

little fish

    HPC Regular

  • Members
  • PipPipPip
  • 892 posts

Posted 07 July 2008 - 11:15 AM

I have just been talking to a guy from Stubbs Gazette in Dublin.

They are expecting large write downs from the construction industry in the North after the twelfth fortnight break and from the South after the builders holiday at the end of July.

Apparently Antrim Construction paid off a large amount of workers last week.This came directly from a paid off employee but I have seen no mention of this in the press.

Maybe as Stubbs are expecting the figures will be released after the hols.

#33 headmelter

headmelter

    HPC Veteran

  • Members
  • PipPipPipPip
  • 2,112 posts
  • Location:Gods country
  • About Me:marbles, reading the Beano, riding my bike and drinking Irish whiskey.

Posted 07 July 2008 - 01:01 PM

I have just been talking to a guy from Stubbs Gazette in Dublin.

They are expecting large write downs from the construction industry in the North after the twelfth fortnight break and from the South after the builders holiday at the end of July.

Apparently Antrim Construction paid off a large amount of workers last week.This came directly from a paid off employee but I have seen no mention of this in the press.

Maybe as Stubbs are expecting the figures will be released after the hols.


I posted in another thread that pattens paid off 200 workers last week, came from a guy who was working with several pattens employees. No mention of that in the press either.
Insanity is hereditary .......you get it from your kids.!

GREEN & GOLD UNTIL WE'RE SOLD.

#34 little fish

little fish

    HPC Regular

  • Members
  • PipPipPip
  • 892 posts

Posted 07 July 2008 - 01:28 PM

It seems strange to me that these pay offs wern't reported. The guy I heard from had been with AC over 30 years and been through all sorts of good and bad times with them.

Do you think the press have decided not to report it for confidence reasons?

Or just that there are so many now that the press couldn't be bothered now?

#35 S S

S S

    HPC Regular

  • Members
  • PipPipPip
  • 592 posts

Posted 07 July 2008 - 07:12 PM

I posted in another thread that pattens paid off 200 workers last week, came from a guy who was working with several pattens employees. No mention of that in the press either.



Don't think they have 200 employees, as far as I know they have a small amount of staff. Everyone else is subcontracted in.

#36 wayoutwest

wayoutwest

    HPC Poster

  • Members
  • PipPip
  • 285 posts

Posted 22 August 2008 - 11:37 PM

http://www.theproper...pic.php?t=12728

#37 Guest_vicmac64_*

Guest_vicmac64_*
  • Guests

Posted 23 August 2008 - 08:50 AM

Well word is that the banks are moving hard and fast against smaller builders and developers that are failing to meet interest payments. Expect a lot of news within the next few weeks on this. Also banks are now forcing speculative developers to sell the land they have bought. Have heard as recently as this week of a syndicate that paid 6million for a plot of land only a year ago and that had been FORCED to sell a couple of months back for 4million. There were 4 in that sydicate so that leaves each of them nursing a .5million loss....... OUCH and serves them right for their irrational exuberence and greed in the first place. I think many fortunes will be LOST after this is all over.....

#38 yadayada

yadayada

    HPC Regular

  • Members
  • PipPipPip
  • 802 posts

Posted 23 August 2008 - 10:23 AM

Anyone aware of a recent sudden death in Co. Armagh?

#39 wayoutwest

wayoutwest

    HPC Poster

  • Members
  • PipPip
  • 285 posts

Posted 24 August 2008 - 09:23 AM

http://www.tribune.i...ern-subsidiary/

Thanks to Verbatim at the Pin

Brokers familiar with the situation told the Sunday Tribune that First Trust could be especially vulnerable as the bank was a "latecomer" to property development lending in the North and had a disproportionate share of small, inexperienced clients who were now facing steep asset devaluations on recently built properties.



#40 tara747

tara747

    HPC Veteran

  • Members
  • PipPipPipPip
  • 1,907 posts

Posted 26 August 2008 - 12:37 PM

Anyone aware of a recent sudden death in Co. Armagh?


No, is this related to d*velopers?

#41 subby

subby

    HPC Veteran

  • Members
  • PipPipPipPip
  • 1,922 posts
  • Location:Belshaft

Posted 26 August 2008 - 12:40 PM

dunno....Posted Image
Work to live...don't live to work....

#42 yadayada

yadayada

    HPC Regular

  • Members
  • PipPipPip
  • 802 posts

Posted 26 August 2008 - 01:19 PM

No, is this related to d*velopers?


Yes. Better leave it a while.

#43 tara747

tara747

    HPC Veteran

  • Members
  • PipPipPipPip
  • 1,907 posts

Posted 26 August 2008 - 09:57 PM

I am genuinely intrigued now. Can you PM?

#44 daywalker

daywalker

    HPC Newbie

  • New Members
  • Pip
  • 14 posts

Posted 27 August 2008 - 12:55 PM

Any further news ? I know a few builders in Co.Armagh.

#45 BelfastVI

BelfastVI

    HPC Veteran

  • Members
  • PipPipPipPip
  • 2,772 posts
  • Location:Belfast

Posted 27 August 2008 - 01:00 PM

Any further news ? I know a few builders in Co.Armagh.


I think this topic should stop here. I heard this story and it has no place on this or any forum.




0 user(s) are reading this topic

0 members, 0 guests, 0 anonymous users