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wahine
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The article in the Irish Times today makes Quinlan look really bad., I follow housing, in a few areas of the world, and right there on the front of the Irish Times is a long article on Quinlan that I don't think really is appropriate. It's one thing to say a home has come onto the market that will shock the neighbors in the asking price (this will bring all the numbers down for them) then they just have to throw in there that he fled Ireland to Switzerland during the early days of the financial crisis making it like he bailed. It's just the way the article is written. Quinlan is the third partner in The Clarence (Bono and Edge are the other two) which they just had to announce had major losses as well in an early article. I am not sure I would consider a million here or there major losses when you look at the overall picture. I just didn't like the way they wrote the article on his Shrewsbury home, and he owns two other ones there. I just feel there was entirely too much info for a listing on a home granted one of the most expensive homes. Then at the media comes off blaming Bono's back for the collapsing of Live Nation, then the One thing.Red, Edun, The Clarence, I just felt like come on...I know it's numbers season but they made it sound like Quinlan escaped or something and is wanted...that had nothing to do with the house as far as I was concerned. And yes, I am a Realtor, so it disturbed me. It seems like anyone associated with Bono is fair game now.

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The article in the Irish Times today makes Quinlan look really bad., I follow housing, in a few areas of the world, and right there on the front of the Irish Times is a long article on Quinlan that I don't think really is appropriate. It's one thing to say a home has come onto the market that will shock the neighbors in the asking price (this will bring all the numbers down for them) then they just have to throw in there that he fled Ireland to Switzerland during the early days of the financial crisis making it like he bailed. It's just the way the article is written. Quinlan is the third partner in The Clarence (Bono and Edge are the other two) which they just had to announce had major losses as well in an early article. I am not sure I would consider a million here or there major losses when you look at the overall picture. I just didn't like the way they wrote the article on his Shrewsbury home, and he owns two other ones there. I just feel there was entirely too much info for a listing on a home granted one of the most expensive homes. Then at the media comes off blaming Bono's back for the collapsing of Live Nation, then the One thing.Red, Edun, The Clarence, I just felt like come on...I know it's numbers season but they made it sound like Quinlan escaped or something and is wanted...that had nothing to do with the house as far as I was concerned. And yes, I am a Realtor, so it disturbed me. It seems like anyone associated with Bono is fair game now.

Quinlan looks bad because he is bad. One of the big boys who made millions--or more, he reportedly hit a billion a few years back--thanks to tax breaks, croneyism, etc., during the whole "Celtic Tiger" era. Just because he's teamed up with two guys from U2 doesn't make him a saint, and it certainly shouldn't shield him from media attention.   Just go look up some of his role in the whole Irish Glass Bottle site scandal, where the small-time taxpayers get to pick up a huge chunk of the bill, thanks to the DDDA getting involved, while Mr. Quinlan holes up in some luxury house in Switzerland.

 

As for the Clarence:  It's been losing money for a while, so they've reportedly sacked a good number of hotel workers, who won't be going to Switzerland any time soon (unless they're forced to emigrate there for the work).  But the whole Irish hotel industry is a trainwreck, thanks to "cheap" money (for those who already had it) and some pretty round-heeled regulations in the go-go days. Google "Ireland zombie hotels" -- really! -- and you'll find more backgrounder info.  Basically, tax breaks for builders led to overbuilding, then the world economy flops, tourism declines, real estate crashes, and Ireland's got hotel rooms galore, but no one to rent them.  But the owners/developers won't cut inventory, because if they keep their "zombie" hotels open for seven years, they'll get lots of capital allowances.  Estimated at over one billion Euros. 

 

So none of the hoteliers and their investors want to trim any real assets, and they decide to keep "competitive" by firing staff and trying to cut hourly wages, etc., until the time is ripe to cash in.

 

-- eaplatt

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Thanks for the explanations. Geez, it's so bad everywhere, in every country. There are so many damn stories regarding Bono and things being his fault for this or that. What a crock! Does Ireland or anything wise and fall with just Bono! Hell no!! 

 

So I could get really rates now visiting Ireland it seems.

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