Re: Re: Pierse Construction in Liquidation
I’m afraid I have to agree on the Shelbourne; Meridian may have lost the Meredian Dublin and the consortium may have restored the name to its original one but Meredian could scarcely have timed their exit better; the refurb is great for the City but you need seriously deep pockets to take on a project like that. This investment will be under water for a very long time; only in cities like London, Hong Kong or New York can one make money in pretty much any 5 year timeframe on prestige hotels.
On Pierse we will not agree; conditions in Ireland due to complete mismanagement of the economy have placed all companies in a vacuum where decisions are difficult to make; bear markets move very quietly between phases but when they shift down they are brutal in their speed. In the first wave went the clowns like Carroll and Dunne who thought they could create their own markets be it Carroll on listed companies or Dunne on creating a misplaced vision of 1970’s Knightsbridge in D4 in 2005; seeing people like McNamara and Pierse who were more followers than leaders was a lot less predictable and to my mind not pleasant to observe as they didn’t have their noses stuck up their backsides. Another 2 years of this government and Sisk and Ryanair will probably go under as well.