RTE say quinn " rags to riches to Rags"

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Frank

Registered User
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As much as Sean Quinn owes several billion.

I assume they won't be back rags.
 
He has lost his company, not his personal wealth.

No doubt his wealth has taken a hit but I am sure he may have a few bob salted away.

That said, I have some sympathy for him as he took on monopolies in health insurance, general insurance, glass production, cement etc...
 
He was (is) a great business man but his investment decisions were god-awful. Have to say, I've a lot of sympathy for him, and he seems very popular with the workers. On his personal wealth, I would have thought there were personal guarantees that will wipe that out, am I wrong?
 
I know some one who worked for him in a relatively senior position on the property side and am told that he's a fantastic boss to work for.

I wish him better days ahead.
 
I don't get this. I admire what Sean Quinn did in relation to his business. However Sean Fitzpatrick did exactly the same when he built up Anglo. Unfortunately both men let greed destroy them. Quinn gambled not only his future but the future of all his employees. I don't have any sympathy as he has played a large part in this whole mess. Also don't forget the fact that he was running an insurance company with inadequate solvency and was using it as a cash cow for the rest of the group.
 
I know what you mean Sunny but Quinn started the business from scratch and built it by the sweat of his own brow...very loyal to his staff and county yada yada yada. There was none of the smug, rich or lecturing self-publicist about him, unlike SFP.
 
I agree he is a nicer individual and had the guts to face the media unlike others. However, being nice isn't enough for me to feel sympathy for him.
 
He had everything but he didn't have a bank. That was what he wanted next. He gambled using CFD'S to get one. He lost. Apparently about €2 billion of this gamble will be written off. The taxpayer will end up paying off his gambling debts.
If he had gambled and won he would be moving on to his next target getting richer and richer and my son would still be paying him over €3000 for his car insurance.
 
Tintagel said:
If he had gambled and won he would be moving on to his next target getting richer and richer and my son would still be paying him over €3000 for his car insurance.
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Can he get the same insurance cheaper elsewhere?
 
Quinn started with nothing, built up the business and made some stupid decisions and lost it.
He'll be ok and might even try again

Bernard McNamara is one of the nicest people I've ever met, worked in two of his hotels and he'd often come over chatting to everyone and all the staff.
I've no doubt he's ruthless in business though and there's another man from Clare who started off small and didn't quit when times were good
 

If he had gambled and won, do you think he would be sharing his profits with the Irish taxpayer????
 
You don't run a successful business without gambles and sometimes big ones. So I don't hold that against him and I don't put it all down to pure greed.

And yet he got caught up in the Anglo wave and that's less business growth and more personal gain at all of our expense.

Nice man, good employer, but none of them got into the Anglo business not understanding what they were doing.
 
I am amazed with this country, its no wonders we have shysters everywhere and we have very short memories.

I can recall Quinn been fined and fined big for bad accounting practice.

ala" Ireland's richest man was forced into a humiliating resignation and his flagship business hit with record €3m (£2.4m) fines last night after admitting financial blunders."

And CFD's are a big big gamble ... he lost.

I have no sympathy for him at all. His dealings led to that golden circle etc.

noah
 
I doubt if people will have much sympathy when we all start paying the surcharge on our home and car insurance for several years to pay for the mess he left his cash cow in. Nice guy? So what? I'm a nice guy, and no one's charging you to pay for my business failures.
 
No sympathy here. He'll still live the 5 star lifestyle while we pay for his gambling debts and in addition we now have to pay extra for our car and house insurance.

Why aren't the staff mad at him for the mess he's made?
 
I have great sympathy for Sean Quinn, He took on the big boys. Ok he made mistakes with his investments. He took calculated risks - if he had never taken any risks he would not have achieved any of his successes. Every business person has to take risks.
The man was not changed by his wealth - his employees had the greatest respect for him - how many can claim this.
Many a good business person was brought down with recent happenings, Sean Quinn is one of them. Browtal
 
I dont think you read my post above. Have a longer look at the facts and then post back.

I will give you a clue, he owes €3billion. Would you consider betting 3 billion a calculated risk? Why buy an interest in a bank but keep it secret??

noah
 
Nice guy? So what? I'm a nice guy, and no one's charging you to pay for my business failures.
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No sympathy here. He'll still live the 5 star lifestyle while we pay for his gambling debts and in addition we now have to pay extra for our car and house insurance.
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I don't blame him for this.
I blame the government. They are the ones that guaranteed the banks, remember?

Businesses should be allowed to fail, including banks.
 
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