1. avatar The Ronster
    From the Irish News:

    [i:d7cd4fc9f0]Derry businessmen Michael and John Taggart have become the most high-profile casualties of the economic crisis, as their building empire has collapsed with debts of more than £20 million.

    Bank of Ireland and Ulster Bank called in administrators after Taggart Holdings was unable to service debts believed to be running into six figures a week.

    The collapse could take down as many as 2,000 sub-contractors and other providers of services to its developments, with dozens of sites lying idle in Britain, Northern Ireland and the Republic.

    The brothers clearly enjoyed the trappings of their millionaire lifestyle.

    They regularly commuted by helicopter and when Michael Taggart married last year the entertainers at a lavish marquee reception in Drumsurn, near Limavady, included soul legend Lionel Richie and the Belfast-born singers Van Morrison and Brian Kennedy.

    The bill for that trio alone would have come in at around £500,000 – before expenses.

    Fears are now growing that at least two other well-known developers in the north may also be plunged into a financial abyss, with other banks running scared in the wake of the Taggarts’ downfall.

    One senior banking source told The Irish News: “Expect things to come down like a house of cards.[/i:d7cd4fc9f0]
  2. avatar T Entertainment
    I will offer my services on the spoons.
  3. avatar 10rapid
    flip me, lionel richie and van at the wedding?
    shouldn't this be moved to the wedding bands thread?
  4. avatar The Ronster
    Och, bless their wee bankrupt faces.

    [img:1e7c966667]http://img.skitch.com/20081022-ch1w8weswi4j3spcq4afrw2x8m.jpg[/img:1e7c966667]
  5. avatar tinpot anto
    Anyone else notice that work has apparently completely stopped on the Westlink/Broadway project. Even though Broadway roundabout is currently like something that Mad Max may have designed.
  6. avatar T Entertainment
    "Buddy, can you spare a copy of 'Hello' by Lionel Ritchie?"
  7. avatar Portadown News Editor
    These guys will never be poor: it's the 2,000 people about to lose their jobs who are in trouble.
    The sooner the company's assets are written down and flogged off the better. Once that land and housing is back on the market for what it's actually worth (i.e. fúck all) things might actually get moving again at sustainable, affordable levels.

    Tempting as it is to mock the lower-middle class lifestyles of the rich and helicopter-owning, please reserve some bile for the gormless dicks at the Ulster Bank and Bank of Ireland who dished out loans in the belief that property prices would go on rising forever, then called the loans back in the moment their 'expert assessment' turned out, surprisingly, to be complete bóllocks.
  8. avatar ShowYourBones
    I think the whole Lionel Ritchie thing was a lie to be honest, I'm from round those parts and apparently it was just Brian Kennedy in the end up.

    So I now blame Brian Kennedy for the economic crisis. He's an awful wee man.
  9. avatar T Entertainment
    Gotta love rolling out this baby. This was put out in early April LAST YEAR!

    "[b:a10c93adad]Ulster Bank has introduced Northern Ireland's first 40 year term mortgage to help first time buyers gain access to the bouyant local housing market. The 100 per cent mortgage also offers discounts on home insurance and mortgage repayment packages to first time buyers, who have been increasingly squeezed from the market as prices across Northern Ireland have accelerated.[/b:a10c93adad]


    The increased term makes mortgages up to the value of £200,000 much more accessible for those taking their first step onto the property ladder.



    "Our affordability calculation for each first time buyer means borrowers are assured of not over-stretching themselves with their monthly mortgage repayments, and as a responsible lender we focus on reducing the monthly outgoing as much as possible," says Derek Wilson, Ulster Bank's Head of Mortgages.



    "We have just launched a 5.14 per cent fixed rate, this is the lowest fixed rate, no deposit 100 per cent mortgage available in the Northern Ireland market," Mr Wilson continues.



    To coincide with the launch of the 40 year term package, Ulster Bank has also published an eight-step first time buyer guide which covers everything from how to work with the lender to ensure a reasonable maximum mortgage value to how to deal with gazumping - the act whereby a vendor reneges on an accepted offer to take a subsequent higher offer.



    "First time buyers aren't only struggling with price rises and affordability issues in Northern Ireland," says Mr Wilson, "they also, naturally enough, know little about the process of buying a property.



    "The guide is a practical tool which effectively takes them through the process protecting them along the way with sound information and arming them with handy hints throughout."


    You know, given the way things panned out, that's either breathtaking cynicism or jaw-dropping ignorance.
  10. avatar The enfant terrible
    [quote:0aa4943808="The Ronster"]Och, bless their wee bankrupt faces.

    [img:0aa4943808]http://img.skitch.com/20081022-ch1w8weswi4j3spcq4afrw2x8m.jpg[/img:0aa4943808][/quote:0aa4943808]

    The wee fat one could stop stuffing his face; that might save a few pounds.
  11. avatar tenrabbits
    [quote:87f596f1dd="T Entertainment"]I will offer my services on the spoons.[/quote:87f596f1dd]

    Typical T - always trying to spoon the rich.
  12. avatar tinpot anto
    [quote:6573d0c88b]they also, naturally enough, know little about the process of buying a property.[/quote:6573d0c88b]


    [sotto voce][i:6573d0c88b]Allowing us to sneak around behind them and metaphorically have them liberally in the ass until they are nothing but a shrunken dried husk of their former selves then wipe our financial knob on their curtains we actually own and laugh all the way to the...oh wait we are the bank ha ha ha ha ha ha ! I mean the chances of house prices dropping ever is zero.[/i:6573d0c88b][/sotto voce]
  13. avatar boarsheadtaverncheapside
    Just as a spin off, do any of the smug house owners who lorded it over me about renting over the past few years while I struggled to argue that 0.25 million isn't a fair price for a 2 bed terrace in sh*tsville wanna' sell me their sh*tty worthless, f*cking albatross of a house cheap yet?
  14. avatar whosbainejakey
    +1

    :twisted:
  15. avatar POSITIVExYOUTH
    Who gives a shit about them.

    It's kind of cynically funny how newspapers will write articles on two idiots like them and not a single word about the ones that will loose their jobs because of people like these being greedy pigs.
  16. avatar T Entertainment
    I've been trying to find the thread of a year and a bit back which had some people reclining on a (completely notional) mattress of equity chopping out lines and lighting cigars with fivers, but sadly it so far eludes me.
  17. avatar tinpot anto
    I think you dreamt that.

    In fact is "Notional Mattress of Equity" not the title of the new Marillion album.


    it should be :)
  18. avatar Steven Dedalus
    [quote:bbb9e66a5e="POSITIVExYOUTH"]Who gives a shit about them.

    It's kind of cynically funny how newspapers will write articles on two idiots like them and not a single word about the ones that will loose their jobs because of people like these being greedy pigs.[/quote:bbb9e66a5e]

    What?

    Surely the original article mentions the fact that

    [quote:bbb9e66a5e]The collapse could take down as many as 2,000 sub-contractors and other providers of services to its developments, with dozens of sites lying idle in Britain, Northern Ireland and the Republic.

    [/quote:bbb9e66a5e]

    What do you want the article to do? Name all 2,000 of them?

    Is it so baffling that, as the two higest profiled individuals in this story, they'd be the ones highlighted?
  19. avatar T Entertainment
    Griswold is a master of the fictional Marillion album title.
  20. avatar Steven Dedalus
    [quote:c6f03486f9="T Entertainment"]Griswold is a master of the fictional Marillion album title.[/quote:c6f03486f9]

    I got a free Marillion album with a newspaper whilst on my holidays.

    I didn't make it much past "Fictional Silk Kimono", or whatever, but I did have "Kayliegh" stuck in my head all day, reminding me of the fantastic Banzai challenge where a woman on a stairlift had to get to the top of the stairs before Fish could start singing.

    She won.
  21. avatar tinpot anto
    No but the Westlink, seriously, is it likely to be left like that or are the contractors drawing upon the fact that they are miles ahead of schedule and idling the rest of the work to spread their income until April?

    Any ideas Nooz Folks?
  22. avatar 10rapid
    If these guys didn't walk over anyone to make their money then they're hardly fair game for playa hating?

    Oh right, just cos they're loaded we have to be happy when they go bust.
  23. avatar Jimmy Seagus
    [i:987571be2c]Just as a spin off, do any of the smug house owners who lorded it over me about renting over the past few years while I struggled to argue that 0.25 million isn't a fair price for a 2 bed terrace in sh*tsville wanna' sell me their sh*tty worthless, f*cking albatross of a house cheap yet?[/i:987571be2c]

    Huzzah!

    Also, I couldn't give two fcuks about the job losses either.
    I don't care, I love the chaos and here's hoping it gets a lot worse.
  24. avatar tinpot anto
    In what twisted Thatcherian Utopian vision are the millions of people who scrimp by every day ever going to actually be glad for the people who make a fortune out of underpaying them for their labour?

    I mean serious we're supposed to feel bad that the stupidly rich are now having to make do as just plain very, very rich?

    Slap it up the hole of every single one of the speculating cunts with an extra round of buttery toast.
  25. avatar Jimmy Seagus
    If these two twats didn't fcuk anybody over, then surely that'd be a first for developers.
    I wave my crippled cock at them.

    Here, Anto - I just saw three workies wrapping silver gaffer tape around a large pipe at the bottom of Broadway Rd.
    They haven't gone away, you know.
  26. avatar tinpot anto
    That sounds like appropriately skivey behaviour to suit the "dragging out the contract" theory.

    I'd love to think that they have decided to use the remaining time on the contract in order to maintain their workforce for an extra 6 months, but they'll probably lay off a load of people in the next few weeks.
  27. avatar Jimmy Seagus
    And in other news, Sexface announces that a recession is 'likely'.
    [URL]http://news.bbc.co.uk/1/hi/business/7684216.stm[/URL]

    No shit, Sexface?
  28. avatar 10rapid
    [quote:30e46dc247]In what twisted Thatcherian Utopian vision are the millions of people who scrimp by every day ever going to actually be glad for the people who make a fortune out of underpaying them for their labour?[/quote:30e46dc247]

    I don't mind either way that these guys went bust. But why assume that they underpaid anyone. Some people just get lucky and are good at making money. That shouldn't necessarily be an automatic reason for glee when they go bust.

    As I say, I'm not bothered either way really
  29. avatar Jimmy Seagus
    [i:939fcfeeec]Some people just get lucky and are good at making money.[/i:939fcfeeec]

    Hahahahaha.
  30. avatar 10rapid
    well I have to say, if I had a scheme to make myself a few million and fly about in a helicopter with Van Morrison singing at my wedding I'd be in it tae fuck.

    Wouldn't you?
  31. avatar boarsheadtaverncheapside
    [quote:2abd440a9c="Jimmy Seagus"][i:2abd440a9c]Just as a spin off, do any of the smug house owners who lorded it over me about renting over the past few years while I struggled to argue that 0.25 million isn't a fair price for a 2 bed terrace in sh*tsville wanna' sell me their sh*tty worthless, f*cking albatross of a house cheap yet?[/i:2abd440a9c]

    Huzzah!

    Also, I couldn't give two fcuks about the job losses either.
    I don't care, I love the chaos and here's hoping it gets a lot worse.[/quote:2abd440a9c]

    Aye, that was an outburst, no harm to anyone, it's hard to kick against the pricks, you have to take yer opportunities like, well probably :smt091
    I'm buyin in a rake of cans of soup and a shotgun to protect it. If y'don't get on that soup train now it'll leave without ya!
    ... come the end the only thing on will be shows about people bidding for cans of tomato, and fixing them up with bacon fat, a sprout and a sprig of basil, before selling them on to buy a can of Mullaghtawnie Broth in a prime area.
    Last edited on , 1 times in total.
  32. avatar Jimmy Seagus
    [i:317d4acb80]well I have to say, if I had a scheme to make myself a few million and fly about in a helicopter with Van Morrison singing at my wedding I'd be in it tae fuck.

    Wouldn't you?[/i:317d4acb80]

    Nah, I'd have the Varionis, fish suppers from Long's and a black taxi to get me to the Beehive.

    I'd pay to have Van Morrison shot, though.
  33. avatar 10rapid
    Don't shoot van...
  34. avatar Strong Reaction
    My mate saw Master Blaster in the Park Centre. YEOW.
  35. avatar POSITIVExYOUTH
    [quote:0e2c3e91a3="Steven Dedalus"][quote:0e2c3e91a3="POSITIVExYOUTH"]Who gives a shit about them.

    It's kind of cynically funny how newspapers will write articles on two idiots like them and not a single word about the ones that will loose their jobs because of people like these being greedy pigs.[/quote:0e2c3e91a3]

    What?

    Surely the original article mentions the fact that

    [quote:0e2c3e91a3]The collapse could take down as many as 2,000 sub-contractors and other providers of services to its developments, with dozens of sites lying idle in Britain, Northern Ireland and the Republic.

    [/quote:0e2c3e91a3]

    What do you want the article to do? Name all 2,000 of them?

    Is it so baffling that, as the two higest profiled individuals in this story, they'd be the ones highlighted?[/quote:0e2c3e91a3]

    A sub-contractor doesn't necessarily mean an individual. The sub-contractors may aswell be smaller businesses (and I suspect that is the case), so that hardly is talking about the people that will lose their jobs.

    Even if, half a paragraph is basically a shameful overlooking of the implications for the people employed by them and their subcontractors.
    Plus, as i said, who gives a shit about them. They are rich idiots that have invested in a high risk market that everyone knew was going to come down crashing. But that is a symptom of how money talks: if you are a rich man that has gone bust you'll get an article, if you are one of thousands of workers that will be umeployed as a result you get less than a paragraph.
  36. avatar Steven Dedalus
    [quote:b53e872daf="POSITIVExYOUTH"]
    They are rich idiots that have invested in a high risk market that everyone knew was going to come down crashing. [/quote:b53e872daf]

    Which is, indeed, the story.

    You have much to learn of how these....newspapers...work.
  37. avatar Pilot Paddy
    [quote=POSITIVExYOUTH]A sub-contractor doesn't necessarily mean an individual. The sub-contractors may aswell be smaller businesses (and I suspect that is the case), so that hardly is talking about the people that will lose their jobs.

    Even if, half a paragraph is basically a shameful overlooking of the implications for the people employed by them and their subcontractors.
    Plus, as i said, who gives a shit about them. They are rich idiots that have invested in a high risk market that everyone knew was going to come down crashing. But that is a symptom of how money talks: if you are a rich man that has gone bust you'll get an article, if you are one of thousands of workers that will be umeployed as a result you get less than a paragraph.[/quote]

    Are you suggesting that everyone who loses a job because their employer took a financial risk get their own newspaper article?

    I doubt it would make for great reading, to be honest.
  38. avatar POSITIVExYOUTH
    [quote:949db20545="Pilot Paddy"][quote=POSITIVExYOUTH]A sub-contractor doesn't necessarily mean an individual. The sub-contractors may aswell be smaller businesses (and I suspect that is the case), so that hardly is talking about the people that will lose their jobs.

    Even if, half a paragraph is basically a shameful overlooking of the implications for the people employed by them and their subcontractors.
    Plus, as i said, who gives a shit about them. They are rich idiots that have invested in a high risk market that everyone knew was going to come down crashing. But that is a symptom of how money talks: if you are a rich man that has gone bust you'll get an article, if you are one of thousands of workers that will be umeployed as a result you get less than a paragraph.[/quote:949db20545]

    Are you suggesting that everyone who loses a job because their employer took a financial risk get their own newspaper article?

    I doubt it would make for great reading, to be honest.[/quote]

    No.
    But then I woudln't want that an article is written anytime some fatcat goes bust.
  39. avatar The enfant terrible
    It's all about what people want to read though, isn't it? It doesn't matter if another story has more merit. The article focusing on how rich they were makes you lack sympathy for them but fuck it like. Fat mawfucka should have cut back on the meals when he had a chance, now he doesn't have any other chance.
  40. avatar 10rapid
    I doubt he [i:987f7adcd6]ate[/i:987f7adcd6] millions of pounds worth of food, so cutting back on meals, rather than helicopters and private lionel richie gigs probably wouldn't have saved him
  41. avatar legitmik
    They'll be alright.

    If you owe the bank £20 grand, you worry. If you owe £20 million, they worry.

    Hopefully with it's owners in deep stuup, Café (B)Róc will close and stop spilling witless morons onto the Strand Road at 2am who try to get into yer car thinking it's a taxi and not taking 'Fúck off! I'm not a fúckin taxi!' for an answer.
    I nearly had me wing mirror kicked off for the crime of 'not being a taxi' and refusing the request of 'fúck's sake hi, gone givvus a lift a home hi. Gone hi, gone, etc etc...'
  42. avatar The enfant terrible
    [quote:87a5175b53="10rapid"]I doubt he [i:87a5175b53]ate[/i:87a5175b53] millions of pounds worth of food, so cutting back on meals, rather than helicopters and private lionel richie gigs probably wouldn't have saved him[/quote:87a5175b53]

    Where do you think his fat gut came from? Of course he ate millions of pounds worth of food. The helicopters and Lionel Richie gigs were paid for using his tesco club card points.