John Mulcahy Jones Lang Lasalle - NAMA Property Expert

This Fianna Fail insider has been appointed to multiple state entities: Campus Stadium Ireland, NRPF (who bought Anglo Irish Bank shares to prop-up the failed bank), etc.

So, let’s look at his property management skills and suitabilty for NAMA.

ucd.ie/uii/pdf/Media_release_12Sept06.pdf

independent.ie/unsorted/prop … 59866.html

Start of 2007 he prediucts a boom in commercial property

m.rte.ie/business/news/2007/1203/property.html

At the end of 2007, he laments the collapse.

He wants a drop in stamp duty but he does not want to intervene in the property market.

He supports NAMA but he does not want the government to interfere in the property market.

Maybe he just wants to use taxpayers’ money to pay inflated prices to keep his developer buddies in the style to which they and he have become accustomed.

Like Frank Fahey, the chairman of the Dail Finance Committee, he is seriously conflicted and should be dismissed.

new standards and ethics needed

perhaps we should adopt the american approach to government appointments and let justify their appointment in front of an an oireachtais non party drivene commitee

i wonder how vocal the green partyare when such appointments are made

we need to purge ourselves completely of all these nod and wink appointments and have complete transparency

He was on the radio, tellling the Oireachtas that he did in fact predict the downturn in commercial property four years ago and that Jones Lang divested from property based pension funds… Maybe he just forgot to tell Joe Public :angry:
BTW John 39 years experience does not mean you are an expert in property valuation.

irishtimes.com/newspaper/ire … 65122.html

Ah now lads, just what else would you expect from anyone associated with this particular political party, honesty? Come on now FFS, we all know they are as corrupt as f*** we just need the public to realise that as well and change how people like him are given posts in future and also chek his actual credentials not his so called 39 years experience. :unamused:

Good work by Harry McGee.

Is there any evidence that this person is NOT a greaseball :frowning: ???

Shane Ross gives John Mulcahy a bit of a spanking.

independent.ie/opinion/colum … 79456.html

Good article by shane

I thought it was one of his best yet.

Is there really nobody, in a country of 4 million people, with a bit of integrity and intelligence that would be better suited to looking after the people’s interests than a fucking estate agent?

Not gong to write too much about this because the person could identify themselves so take it as an anecdote;

I know one of the NAMA valuers.

Hes an ex-high ranking bank official.
On a personal level hes a very decent character but professionally I’d reckon hes an idiot.
He got to a very high position by being one of those irritatingly and uniquely Irish ‘yes men’.
You know the type, everything you say he answers ‘Ah yeah’ and nods slowly.

Anyways, he gave some fairly bad advice to some other people I know over the years, although he gave it with the best of intentions. At this point I began to suspect he was a bit dim and the ‘ah yeah’ approach was less the man-of-few-words wisdom and more ‘havent-got-a-fucking-clue-really’.
This was very difficult for others to take, as I mentioned hes a very good man, and besides he was very high up in a very well known Irish financial institution.

I approached him about 2 years ago at a family do and chatted to him about property.
He swotted away my arguements with distain and made me look and feel a fool in front of many.
He was of course at the eye of the storm, high up the tower and knew better.

Anyways, with the property and stock market crash, it turns out most of his pension was in company shares and the arse fell out of that in a big way, leaving him relatively peniless.
Not only that, but the duff advice he’d been giving to others he’d also been giving to members of his own family.
One young man is now royally fucked after splashing out on a tiger property with a friend and then losing his job.

Since then NAMA man has valued the property at 50% of purchase price.
I understand NAMA Jr has now moved back home and continues to pay his share of the mortgage although I dont know how.
NAMA man is as relaxed (detatched?) as ever believing the property will regain its initial valuation in 2 or 3 years.

What I’m saying is that many of the people in power in Ireland didnt just ‘not see it coming’, they were surprised when it did and they dont understand how it will play out.

As for NAMA valuations, if this guy is anything to go by, they will be out by a mile no matter what valuation they are given.

And that folks is an unsubstantiated anecdote on the internet.

…from someone who has acquired a very good reputation in my eyes during my reading of the pin over the last few years. Definitely more reputable than 98.62% of the copy I read in the Irish media…

So TUG, what was it a bad week to give up this week? Pseudoephedrine based cold medicines?

Credulity.

Lest any forget, an anonymous, unattributed bulletin board post is just that. However reasonable the anecdote/info/gen/inside track/double secret information, reminders are warranted.

I know. But you always consider who is doing the posting. Just like you take into account the track record of MSM people. I’d put needles credibly a lot higher than pretty much everyone who writes for the Irish media on economic matters, mainly due to the MSM’s dismal record (with a few honorable exceptions).

But I agree, caveat emptor.