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 Post subject: Re: Bacon is a director of Ballymore Homes!!
PostPosted: Sat Apr 11, 2009 8:48 am 
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Back Home with Mammy

Joined: Jan 18, 2009
Posts: 69
Forget about Bacon - think more of Biffo, McCreevy & Sean Mulryan. This is the trio who (as drinking buddies) have hatched a fair number of the recent "policy initiatives" seen in this corrupt little corner of the world over the past 6 months.

Fact - Who were the guests at a quiet little rip-roaring piss-up chez Mulryan in the week before the budget last year? Cowen & McCreevy.

This is how the country is being run ( and by whom) .....yes, it IS that bad and that stupidly simple!
Any so-called journalist out there could really make a name for themselves if they chose to run with this one....Cowen, McCreevy & Mulryan.....THEY ARE THE BOYS!


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 Post subject: Re: Bacon is a director of Ballymore Homes!!
PostPosted: Sat Apr 11, 2009 9:29 am 
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Neo Landlord

Joined: Oct 25, 2007
Posts: 290
I was listening to Radio 1 yesterday (i know I know) and they were talking about the potential for developers to have massive loans written off only to buy the assets back at firesale prices a few years later (general consensus was that this was a good thing)

Terry prone said in relation to conflicts of interest "Sure this is a small country, everyone knows everyone else" and that comment made my blood boil (moreso)

This is a country of 4 million people, but the business/political elite is such a small golden circle that they find it almost impossible to avoid appointing the poachers as the gamekeepers.


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 Post subject: Re: Bacon is a director of Ballymore Homes!!
PostPosted: Sat Apr 11, 2009 9:37 am 
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johnnyboy wrote:
Forget about Bacon - think more of Biffo, McCreevy & Sean Mulryan.
.....
Any so-called journalist out there could really make a name for themselves if they chose to run with this one....Cowen, McCreevy & Mulryan.....THEY ARE THE BOYS!

It's all intertwined. Is Bacon simply some sort of Trojan offering?

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 Post subject: Re: Bacon is a director of Ballymore Homes!!
PostPosted: Sat Apr 11, 2009 9:57 am 
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johnnyboy wrote:
Any so-called journalist out there could really make a name for themselves if they chose to run with this one....Cowen, McCreevy & Mulryan.....THEY ARE THE BOYS!


Put on your tin hats people, this is dynamite investigative journalism :nin
Perhaps why CAB not allowed go in yet.

Opposition Parties, over to you lot now. :x

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 Post subject: Re: Bacon is a director of Ballymore Homes!!
PostPosted: Sat Apr 11, 2009 12:15 pm 
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Private Tenant
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Location: Dublin 4
Been relatively inactive contributor since early last year....however this is has made my blood boil....

this is a disgrace, great find by all those on the PIN...

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I'm not a moralist....no your not....your an arrogant SOB

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 Post subject: Re: Bacon is a director of Ballymore Homes!!
PostPosted: Sat Apr 11, 2009 7:16 pm 
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Property Magnate
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Joined: May 15, 2008
Posts: 744
Location: Reviewing
SBP article 04/02/07

Quote:
http://archives.tcm.ie/businesspost/2007/02/04/story20804.asp

. . . . Fingleton knows plenty of developers who might be interested in taking a punt on the building society’s properties; he finances some of the country’s wealthiest developers on projects in Ireland and Britain.

They will be well aware of the potential of some of the building society’s assets.

One of the most prolific of those developers, Sean Mulryan, is involved in a joint venture with Irish Nationwide in Britain.

The latest accounts for the Oxford-based company, Clearstorm, a joint venture between the building society and Mulryan’s Ballymore, showed that it had development properties valued at stg£71.6 million (€108 million) in 2005 - up from stg£35 million the previous year. It recorded losses of stg£9 million for 2005 while it was developing the properties, ‘‘pending the generation of revenues’’.

Irish Nationwide owns 51 per cent of Clearstorm; Ballymore holds the remainder of the company, which owns property in the east end of London. Economist Peter Bacon, a senior Ballymore executive, was appointed a director of Clearstorm just before Christmas.

In the Republic, Irish Nationwide operates three property development firms - Vernia, which has owned property in north Co Dublin, sold €10.8 million worth of development property in 2005.

The company had €32.8million on deposit in the building society at the end of the year. It made a profit of €5.7 million during the year and has closing shareholders’ funds of €22.6 million.

Another Irish Nationwide company, Cedarclose, has been much less active. It sold its remaining development property in 2004, netting €5.6 million. A third company, Pangrove, had investment property valued at €4.5 million at the end of 2005.

It had retained profits of €8.3 million and shareholders’ funds of €10.5 million at the end of the year.

Funding commercial property has been one of the main reasons why Irish Nationwide’s loan book has grown to €7.6 billion. It recorded pre-tax profits of €176million last year, largely on the massive growth in commercial property borrowing in Ireland and Britain.

The Financial Regulator will take a dim view of any potential takeover of the building society by a consortium of developers in a part-property play, like so many other Dublin-centred businesses.

However, the potential development value of the building society’s properties and the continuing demand for prime commercial properties among developers will mean that property investors could well be circling the building society during or after its sale. . . .

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 Post subject: Re: Bacon is a director of Ballymore Homes!!
PostPosted: Sat Apr 11, 2009 8:15 pm 
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Private Tenant

Joined: Jan 24, 2009
Posts: 30
Dr Peter Bacon is also a former Managing Director of Goodbody Stockbrokers, the stock broking arm of Allied Irish Banks.

According to the Irish Independent:

Quote:
Although Bacon was bitterly disappointed by the Government's rejection of his proposals [on property] he was careful not to show it at the time. Close to former Taoiseach Bertie Ahern, his economic consultancy, Peter Bacon & Associates, picked up a steady stream of public contracts even after the Government's change of tack on housing policy.


http://www.independent.ie/business/irish/rasher-returns-1706001.html


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 Post subject: Re: Bacon is a director of Ballymore Homes!!
PostPosted: Sat Apr 11, 2009 9:09 pm 
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Too Big to Fail

Joined: Jun 2, 2007
Posts: 3800
Location: Top of the Bubble
Slick Harry wrote:
Peter Bacon also has questionable links to Pearson Holdings, ran by Stuart Pearson. The company has a property arm that includes residential.
Its also know that "Pearson's", have strong links with Goodbodys!!!! :shock: :shock:


Have you any links to back these claims up.


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 Post subject: Re: Bacon is a director of Ballymore Homes!!
PostPosted: Sat Apr 11, 2009 9:45 pm 
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Holiday Home Owner

Joined: May 20, 2008
Posts: 343
Mr Bacon also established a new limited company, Peter Bacon Limited, on April 7 this year.


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 Post subject: Re: Bacon is a director of Ballymore Homes!!
PostPosted: Sat Apr 11, 2009 10:59 pm 
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Too Big to Fail

Joined: Jun 2, 2007
Posts: 3800
Location: Top of the Bubble
Current and previous directorship

Code:
Current Directorships ( 5 )
Peter Bacon - DOB 26/01/1953 [Director]
Number   421925   Inc. Date   16/06/2006
Name   Shelton Syndicate Limited   Last AR   16/12/2008
Address   NORTH QUAY,
ARKLOW,
CO. WICKLOW   Next AR   16/12/2009
Director Since   16/06/2006
Status   Normal       
Industry   92.62 Other Sporting Activities

Peter Bacon - DOB 26/01/1953 [Director]
Number   424680   Inc. Date   08/08/2006
Name   North Slob Shooting Syndicate Limited   Last AR   30/09/2008
Address   DRINAGH HOUSE,
DRINAGH,
CO. WEXFORD   Next AR   30/09/2009
Director Since   08/08/2006
Status   Normal       
Industry   92.62 Other Sporting Activities

Peter Bacon - DOB 26/01/1953 [Director]
Number   469504   Inc. Date   07/04/2009
Name   Peter Bacon Limited   Last AR   
Address   BALLYRANE HOUSE,
KILLINICK,
CO WEXFORD   Next AR   07/10/2009
Director Since   07/04/2009
Status   Normal       
Industry   74.14 Business And Management Consultancy Activities

Peter Bacon - DOB 26/01/1953 [Director]
Number   129878   Inc. Date   08/03/1988
Name   Woniora   Last AR   
Address   FOUR SHANNON BUSINESS PARK,
SHANNON,
CO. CLARE.   Next AR   08/09/2002
Director Since   08/04/1990
Status   Dissolved (11/12/1998)       
Industry   74.84 Other Business Activities N.E.C.

Peter Bacon - DOB 26/01/1953 [Director]
Number   151385   Inc. Date   08/11/1989
Name   Hemingby Limited   Last AR   
Address   5, COLLEGE GREEN,
DUBLIN 2.   Next AR   08/05/2002
Director Since   06/04/1990
Status   Dissolved (11/06/1999)       
Industry   74.84 Other Business Activities N.E.C.


Previous Directorships ( 13 )
Peter Bacon - DOB 26/01/1953 [Director]
Number   54223   Inc. Date   12/02/1976
Name   Goodbody Stockbrokers   Last AR   24/09/2008
Address   BALLSBRIDGE PARK,
BALLSBRIDGE,
DUBLIN 4   Next AR   24/09/2009
Director Since   01/01/1901
Status   Normal   Director Until   31/08/1994
Industry   67.12 Security Broking And Fund Management

Peter Bacon - DOB 26/01/1953 [Director]
Number   73941   Inc. Date   26/02/1980
Name   The Wexford Festival Trust   Last AR   30/09/2008
Address   WEXFORD OPERA HOUSE,
HIGH STREET,
WEXFORD   Next AR   30/09/2009
Director Since   01/01/1996
Status   Normal   Director Until   17/01/2005
Industry   92.31 Artistic And Literary Creation And Interpretation

Peter Bacon - DOB 26/01/1953 [Director]
Number   115314   Inc. Date   07/07/1986
Name   Kahn Holdings   Last AR   24/09/2008
Address   BALLSBRIDGE PARK,
BALLSBRIDGE,
DUBLIN 4.   Next AR   24/09/2009
Director Since   23/08/1988
Status   Normal   Director Until   23/08/1988
Industry   74.84 Other Business Activities N.E.C.

Peter Bacon - DOB 26/01/1953 [Director]
Number   117230   Inc. Date   06/10/1986
Name   Goodbody Holdings Limited   Last AR   24/09/2008
Address   BALLSBRIDGE PARK,
BALLSBRIDGE,
DUBLIN 4   Next AR   24/09/2009
Director Since   23/08/1988
Status   Normal   Director Until   01/01/1902
Industry   71.32 Renting Of Construction And Civil Engineering Machinery And Equipment

Peter Bacon - DOB 26/01/1953 [Director]
Number   124351   Inc. Date   10/08/1987
Name   Goodbody Economic Consultants Limited   Last AR   24/09/2008
Address   BALLSBRIDGE PARK,
BALLSBRIDGE,
DUBLIN 4   Next AR   24/09/2009
Director Since   12/02/1993
Status   Normal   Director Until   01/01/1902
Industry   74.14 Business And Management Consultancy Activities

Peter Bacon - DOB 26/01/1953 [Director]
Number   141110   Inc. Date   03/03/1989
Name   Goodbody Pensioneer Trustees Limited   Last AR   24/09/2008
Address   BALLSBRIDGE PARK,
BALLSBRIDGE,
DUBLIN 4   Next AR   24/09/2009
Director Since   11/03/1991
Status   Normal   Director Until   01/01/1902
Industry   66.03 Non-Life Insurance

Peter Bacon - DOB 26/01/1953 [Director]
Number   152387   Inc. Date   06/12/1989
Name   Ballymore Properties   Last AR   24/06/2008
Address   FONTHILL HOUSE,
OLD LUCAN ROAD,
PALMERSTOWN,
DUBLIN 20   Next AR   24/06/2009
Director Since   21/01/2003
Status   Normal   Director Until   31/12/2007
Industry   74.84 Other Business Activities N.E.C.

Peter Bacon - DOB 26/01/1953 [Director]
Number   210606   Inc. Date   13/12/1993
Name   Seirbhisi Theilifis Na Gaeilge Teoranta   Last AR   19/09/2008
Address   RADIO TELEFIS EIREANN,
DOMHNACH BROC,
BAILE ATHA CLIATH 4   Next AR   19/09/2009
Director Since   04/11/1999
Status   Normal   Director Until   28/09/2006
Industry   74.15 Management Activities Of Holding Companies

Peter Bacon - DOB 26/01/1953 [Director]
Number   441127   Inc. Date   12/06/2007
Name   Ballymore International Developments Limited   Last AR   30/09/2008
Address   FONTHILL HOUSE,
OLD LUCAN ROAD,
PALMERSTOWN,
DUBLIN 20   Next AR   30/09/2009
Director Since   12/06/2007
Status   Normal   Director Until   31/12/2007
Industry   74.15 Management Activities Of Holding Companies

Peter Bacon - DOB 26/01/1953 [Director]
Number   129878   Inc. Date   08/03/1988
Name   Woniora   Last AR   
Address   FOUR SHANNON BUSINESS PARK,
SHANNON,
CO. CLARE.   Next AR   08/09/2002
Director Since   15/07/1988
Status   Dissolved (11/12/1998)   Director Until   31/10/1989
Industry   74.84 Other Business Activities N.E.C.

Peter Bacon - DOB 26/01/1953 [Director]
Number   151378   Inc. Date   08/11/1989
Name   Yasuko Limited   Last AR   
Address   1 EARLSFORT CENTRE,
HATCH STREET,
DUBLIN 2   Next AR   08/05/2002
Director Since   06/04/1990
Status   Dissolved (18/02/1994)   Director Until   05/06/1990
Industry   74.84 Other Business Activities N.E.C.

Peter Bacon - DOB 26/01/1953 [Director]
Number   151379   Inc. Date   08/11/1989
Name   Imt Limited   Last AR   23/11/1995
Address   1, KINGRAM PLACE,
FITZWILLIAM,
DUBLIN 2.   Next AR   23/11/2002
Director Since   06/04/1990
Status   Dissolved (08/01/1999)   Director Until   08/04/1990
Industry   74.84 Other Business Activities N.E.C.

Peter Bacon - DOB 26/01/1953 [Director]
Number   340829   Inc. Date   27/03/2001
Name   Rathdown Light Rail Limited   Last AR   31/12/2006
Address   70 SIR JOHN ROGERSON'S QUAY,
DUBLIN 2   Next AR   31/12/2007
Director Since   27/03/2001
Status   Dissolved (19/10/2007)   Director Until   20/09/2004



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 Post subject: Re: Bacon is a director of Ballymore Homes!!
PostPosted: Sat Apr 11, 2009 11:12 pm 
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Neo Landlord

Joined: Mar 26, 2009
Posts: 205
nest of vipers I tells ya.FF are thumbing their noses at us ,de bastards.Do they not know we can GOOGLE THEIR EVERY STUNT,

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 Post subject: Re: Bacon is a director of Ballymore Homes!!
PostPosted: Sun Apr 12, 2009 1:09 am 
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Posts: 10232
Location: South of the Border (Down Mexico Way)
http://www.timesonline.co.uk/tol/news/w ... 078700.ece
Quote:
'No conflict of interest’, says bad-banks adviser
From The Sunday Times
April 11, 2009
Tom Lyons and Brian Carey
The economist who devised the state’s Nama strategy insists being a former head of a property developer is not an issue

Peter Bacon has insisted there is no conflict of interest between his role in devising the government’s bad-bank strategy and his recent directorship of Ireland’s biggest property group.

From 2004 until last summer, the economist was a director of Ballymore Properties, which was involved in development projects worth €17 billion in Britain. He also advised the company on projects worth hundreds of millions in the Czech Republic, the Slovak Republic and Hungary.

Now Bacon’s creation, the National Asset Management Agency (Nama), is likely to take control of some of the assets that were built up by his former employer.

Ballymore was principally funded in Ireland by Irish Nationwide and the now state-owned Anglo Irish Bank. Michael Fingleton, the chief executive of Irish Nationwide, stepped down from his position two weeks ago.

Controlled by Sean Mulryan, Ballymore is understood to owe Anglo Irish Bank about €1.4 billion. It is also one of Irish Nationwide’s largest clients.

.....(cont'd)


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 Post subject: Re: Bacon is a director of Ballymore Homes!!
PostPosted: Sun Apr 12, 2009 1:17 am 
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Too Big to Fail

Joined: Jun 2, 2007
Posts: 3800
Location: Top of the Bubble
Rathdown Light Rail Limited is another developer rich company Bacon was connected to.

Quote:
From 2001 to 2004 Willie was Chief Executive of Rathdown Light Rail, a company set-up by a consortium of developers to negotiate a public private partnership to extend the light rail system, in association with the development of an area adjoining the suburbs of Dublin City.


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 Post subject: Re: Bacon is a director of Ballymore Homes!!
PostPosted: Sun Apr 12, 2009 1:19 am 
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Nationalised
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Joined: May 3, 2007
Posts: 11997
Would that be the Luas currently being built to Cherrywood ?

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 Post subject: Re: Bacon is a director of Ballymore Homes!!
PostPosted: Sun Apr 12, 2009 1:21 am 
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Too Big to Fail

Joined: Jun 2, 2007
Posts: 3800
Location: Top of the Bubble
2Pack wrote:
Would that be the Luas currently being built to Cherrywood ?


Sounds like it. Who were the developers involved?


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