Yates to sue AIB
Yates, together with his wife Deirdre, lodged proceedings on Wednesday. Legal row over bank’s ‘fruitless’ move against spouse
Yates to sue AIB
This is what intrigues me…I know from attending corporate gigs he’s spoken at that he’s arrogant, gauche and a bit nuts… But what did he DO ?
Did he borrow the Head of Lendings tie at the settlement meeting and then start wiping his arse with it ? Having listened to him in person I can’t rule this out
Yates is 58 and presumably the wife is around the same age.
He seems to have work with Denis O’Brien-owned media on demand. There is the after-dinner speaking stuff. The wife presumably has earning potential. He has a ministerial pension.
I would have thought there is maybe a quarter of a million a year free to be devoted to debt repayment there.
Would be interesting to see the full story.
250k to be devoted to debt repayment? so you think he is grossing 600k (assuming he would have something left to live in ?)
id doubt it
She’s a teacher
From last Sunday’s Indo :
Yates reveals how he lays huge bets to pay for €40,000 cars
Ivan Yates has revealed that he buys his cars by gambling on horses and football games.
In a stark admission that is sure to have gambling addiction support groups up in arms, the popular broadcaster said he places sizeable bets once every decade to drum up €40,000 for a car - rather than get tied up in loan-to-buy schemes with motor finance companies.
“We have a policy for our main family car, because [my wife] Deirdre drives and I don’t with my back and so on - for long journeys I lie in the back - so once every 10 years we change the car,” said the Newstalk presenter.
“We drive it till it drops. I don’t do anything through [finance] companies or benefit-in-kind, so once every 10 years I have to raise a humongous amount of money, up to about €40,000, to pay for a car. So what I do is I line up a bet, no word of a lie.”
The presenter then went on to explain how his first car was bought on the back of a hurling tip from a minister.
“In 2006 [former environment minister] Phil Hogan said to me ‘I am just after coming from Nowlan Park training ground’. Cork were favourites in the final to beat Kilkenny and he said ‘this Kilkenny team will go through that wall. They are definitely going to win on Sunday’. So I backed them enough to win a Volvo car,” said Yates.
"And then the car was up to be renewed last year. Deirdre said ‘we have to get a lovely Skoda car, one of these nice ones’, and €36k [had to be raised] to pay for it.
“We were getting rid of the old Volvo, which had been to Wales and so on. It was clapped out, because I am not into cars. I met Aidan O’Brien at the Breeders’ Cup when I was on my year off and so I was talking to him and he said 'look, I am going to give you one horse that is going to win the 2000 Guineas. It’s the best horse I have ever trained, Churchill. And I backed it to win €36,000 so I called the car ‘Churchill’.”
Asked what sum of money he had to gamble in order to win the five-figure sum, Yates joked: “You need to talk to my auditors, accountants, my tax advisers, consultants and all that. I would have to shoot you if I told you.”
He then went on to describe how a special gift - an expensive coat for his wife - was also named after a winning steed, Gunga Din. “I said to Deirdre ‘that coat is called Gunga Din’. We won a lot of money on a coat she got one day.”
The winning horse was named after a character in the famous Rudyard Kipling poem which contains the lines: “Though I’ve belted you and flayed you, By the livin’ Gawd that made you, You’re a better man than I am, Gunga Din!”
Yates added: “So sometimes I use a nickname on the basis of the circumstance [in which I got the car or a piece of clothing]. I don’t need to buy another car for 10 years.”
Asked what he would do if his bet didn’t win, he replied: “Aidan said this wouldn’t be beat and it wasn’t beat. He wouldn’t say that very often. He might only say it once every 10 years.”
On taking the risk, Yates, who recently celebrated becoming Newstalk’s most listened to presenter, helping the station to its highest ever market share, said: “You need ice cold [blood]. This only happens once every 10 years.”
However, Yates’s winnings are not the norm for gamblers in this country. Latest figures show that the vast majority of people have not been so lucky - and for those who have been lucky, their good fortune eventually runs out.
Ireland now has the third highest per capita rate of gambling losses in the world. As a nation, we lose about €470 per adult a year on different forms of gambling.
In 2016 alone, gambling losses in Ireland totalled €2.1bn. The research by industry experts H2 Gambling Capital was published in The Economist and showed Ireland behind only Australia and Singapore in gambling terms.
About half of the gambling losses in Ireland come from online, with traditional betting the second most popular method.
Meanwhile, Problem Gambling Ireland, which is dedicated to reducing gambling-related harm, says that in the last three years alone it has had 100,000 unique visitors to its website.
To think in the early years after Bertie got in, and John Bruton was being turfed out (early 2001), I somewhat lamented that this boyo didn’t take over FG, instead of Noonan, and provide a challenge to FF based on the quality of life challenges that emerged with the Celtic Tiger.
Looks like he was qualified enough for a seat at Anglo’s board.
in fairness if Aidan O’Brien actually did say “I am going to give you one horse that is going to win the 2000 Guineas. It’s the best horse I have ever trained” I’d be putting as much as I could on myself and I don’t even bet on the Grand National.
Big Phil’s thoughts on Kilkenny on the other hand
Its a bizarre admission from Yates. And if you think about it, to make €40k in winnings he would have had to bet more than €20k on Kilkenny as I doubt that any Kilkenny hurling team would have gone into an all-Ireland final at odds of greater than 2/1. What would he have done if they had lost by a point? Has he never heard of savings?
It’s almost as if he can’t admit to having savings.
It’s not bizarre in the slightest, for him.
I find his total lack of self awareness of his narcissism hilarious. He makes George Hook seem like an Indian Mystic.
‘I lay bets that win me cars. I’m that good and connected’. No actually you’re a failed bookmaker. You lost your wife’s business and more.
‘People tell me often I should have been Taoiseach’. No you’re the worst Taoiseach we could realistically have had but didn’t get thank God. We got other bad ones instead of you sadly. There are lots of dumber and dangerous TDs but you had a realistic shot of getting in.
‘The banks told me I was underleveraged’. No you got greedy, over expanded into shitty located leasehold premises and had no internet strategy.
I imagine he likes Trump, does he ?
Ivan Yates doesn’t expect anyone who matters to believe this yarn.
Some journalist had the audacity to ask him how he can afford a fancy new motor and, rather than squeeze the journalist’s balls in time-honoured fashion, he spun him a yarn which will have his mates in stitches for years to come. His bankruptcy trustees may wonder why Ivan’s good fortune is not shared with his creditors but I leave you to imagine the bould Ivan’s response to them.
Cheltenham? Ivan will stay safely away from that jurisdiction he once called home.
Did the editors of the Indo believe his story? Why would they? Print it and be damned!
Bertie won it on the horses too or was that playing cards with Paddy the P.
Some issues really are cross-party…