Big casualty- is this the first?

rte.ie/business/2007/1112/smc.html

It was covered in yesterdays SBP also -

Hundreds of jobs lost as SMC goes bust
archives.tcm.ie/businesspost/200 … y28179.asp

Given that a large part of SMC’s work is on behalf of local authorities, guess who’ll be left high and dry? Local authority officials who handed out contracts to SMC? SMC directors? No, the taxpayers of Ireland! (and the workers in SMC)

Might as well let the whole house of cards fall down in one clean swoop, blame the “celtic tiger ending”, and make off with fat salaries and fat pension plans. Nobody in their right mind would buy SMC given Ireland’s economic outlook, so you might as well let the thing explode. Well done lads. I wonder who will sub-contract for the local authorities now? I don’t see the need for the local authorities to outsource at all – road maintainence is not rocket science. Any half-decent management team could do a good job at it. Then again, this is the Irish public service were talking about.

Wallace’ll do it

Will he have Grommit with him?

In fairness to Wallace, without knowing a whole lot about architecture and the like, his construction of that new Italian quarter off the north side of the quays was pretty good. I think I remember him going on record as saying that much of the apartment complexes being built in Ireland were basically crap. Hes also an advocate of sustainable high density urban building. That and his sponsorship of the Wexford Youths football team make him one of the VIs who has yet to turn to the dark side :wink:

Only if he likes football, Italian food and dislikes Bush.

I don’t see how this company (SMC) failure could be down to the housing market declines as that wasn’t their area of business. I think it may be premature to put this down as the first major cronstruction casualty of the crash

Yes it’s a nice job he did on the Italian quarter even though I don’t think property is their main area. I believe a lot of Wallaces business is in the same area as SMC so this could be good news for them.

I think the problems at SMC are strange seeing as how infrastucture projects are on the increase!

Hasn’t Wallace done that apartment complex on the Inchicore Road backing onto Richmond Park (St. Patrick’s Athletic) plus some Italian eaterie out the front ?

Wallace was on the Late Late a few months back and said he gets no work from the local authorities since he hung the anti-war banner across the site on the quays.

I smell a rat. The whole subcontracting business with local authorities stinks. I don’t understand how a company like SMC can just go bust without any warning? And as for Wallace, yeah, you’re right – Wallace has crossed many a powerful path.

He has indeed, but at least he seems to have both a spine and some cojones and isn’t afraid to call it as he says it

…as he sees it even !!

sorry but who is wallace ??

companies who rely on local authorities who in turn rely on DEVELOPMENT levies are in serious trouble.

1/4 of all capital spending is from development levies on house and shops and offices . If no one is seeking planning then 1/3 of all local authority contracting work is gone with it . See yesterdays trib.

tribune.ie/article.tvt?_scop … E=Business

The rates and the block grant are used to fund staff wages and the rest of current and capital spending . I know of a big operator in trouble in Galway, the work has hit the wall with the council as planning permission drop like a stone and no levies come in .

Wallace is Mick Wallace, Wexford builder/developer and self-confessed Italophile !

Mick Wallace - an anti-establishment capitalist developer with socialist leanings (confused?) - described himself in yesterday’s Irish Times as a “relatively small builder”. Relatively small perhaps if you compare him to the superleague of land guzzlers that includes Seán Dunne, Bernard McNamara and Pat Doherty, but let’s just say there’d be no point in ringing him for a quote to do your extension.

ireland.com/newspaper/proper … 33055.html

https://dynimg.rte.ie/0000c6ea10D.jpg

Does this mean Wexford Youths are screwed as well??? :open_mouth:

Dont think so - theres no suggestion that Wallace is in any difficulty.

Its quite possible however, that the youth of Wexford (as opposed to Wexford Youths) could be screwed :wink:

Could we have found Stan’s replacement then? :open_mouth: