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Nealons To Close
 
# 16 : Friday 10-3-2017 @ 10:47
 
 
Someone said :
Nealon's holds so many memories for me. I am disappointed and sad that's it is closing.

SITJ
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# 17 : Friday 10-3-2017 @ 11:11
 
 
Someone said :

SITJ

And that's just one of the memories.
Reply
 
# 18 : Friday 10-3-2017 @ 12:40
 
 
Great venue. A great, quieter counterpoint to Pantibar across the street. Sold down the river for a fast buck by a vulture fund. Says it all. 9 staff to lose this jobs and about 1,000 patrons to lose their regular watering hole.

Sad and angry about this. Frodo's mini meet on the 18th will be last. Since its the last in Nealons, maybe it won't be so "mini" after all!!
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# 19 : Friday 10-3-2017 @ 13:58
 
 
Also, will someone who knows more about this, fill me in.

If it's a sucessful business why is it closing again?

As in, why couldn't it just, transact it's way out of "trouble"?
could we raise money for it? could we try get a Irish millionaire Philanthropist to just buy the property and let Nealons carry on?

I know these are idealist and simplified questions, but what I mean is, I don't understand how "someone" "somewhere" can just snap there fingers and shut a solid, well liked business, if Nealons is indeed a well liked business.
Reply
 
# 20 : Friday 10-3-2017 @ 14:36
 
 
The loan on Nealon’s, originally borrowed by prolific boom-time property developer Bernard McNamara, moved with the rest of his Irish bank debt to the National Asset Management Agency after the property crash.
Nama sold the loans on the property to the US private equity firm Oaktree last year as part of a portfolio of property loans with a par value of €4.7 billion in the Projects Ruby and Emerald.

The investment firm, which purchased the debt on the property, wish to take back control of the building and do not wish to continue operating it as a public house.
Reply
 
# 21 : Friday 10-3-2017 @ 16:30
 
 
and would the loan (the money borrowed) have been used, for example, in modernizing Nealons itself (the building and business), like redecorating and upkeep?
or was it just a case of saying "hey, I'm the landlord of this building in town, that currently houses a bar, and I want to leverage the deed of that building against a personal loan, or loan for an unrelated business development".

Reply
 
# 22 : Friday 10-3-2017 @ 17:37
 
 
Someone said :
and would the loan (the money borrowed) have been used, for example, in modernizing Nealons itself (the building and business), like redecorating and upkeep?
or was it just a case of saying "hey, I'm the landlord of this building in town, that currently houses a bar, and I want to leverage the deed of that building against a personal loan, or loan for an unrelated business development".

The latter makes sense if it was the end of the last decade. Surprising it was kept as long as it was given that.
Reply
 
# 23 : Friday 10-3-2017 @ 17:49
 
 
So basically we've made ourselves an impenetrable "upper class" of businessman based on the owning and owing of properties to a bank or institution.

It's literally the stupidest idea I could ever conceive.
It's like if you don't own property, you have to build YOUR business on pillars of sand, and you kinda need to "like it or lump it".

I would never start a business in a building I didn't own for exactly this kind of reason.

Shouldn't bars like this, have a sort of "contact" with their building owners? should it be illegal to put tenants at risk of being sold down the river with one months notice?
How are you supposed to know if putting features and furnishings with a life span of say, 10 years, into your business is money down the drain EVEN if your business runs perfectly in those 10 years?
Reply
 
# 24 : Friday 10-3-2017 @ 19:15
 
 
I agree that it's shit on the leaseholders and staff but, as a good businessman, anyone n that position needs to be aware that it's not their property and things might go their way.... any investment in the business HAS to be informed by that.

There's also the fact that I'm guessing McNamara didn't always own the property. At some stage somebody got a good offer and sold the property on, thereby contributing to the shitstorm that hit in 07. The person who sold the property arguably contributed to the eventual closure of the bar, whatever situation they were in when the sold. The property crisis was caused by more than a few people, it was societal.
Reply
 
# 25 : Friday 10-3-2017 @ 19:48
 
 
What's the bet that Starbucks or McDonalds will end up in there in a few months!
Reply
 
# 26 : Wednesday 15-3-2017 @ 14:44
 
 
It's a great pub....where to next?
Reply
 
# 27 : Wednesday 15-3-2017 @ 21:39
 
 
I just think it's scandalous that substance can mean literally nothing in modern business practice.

Like is there anyone in western society who thinks we live in a well-ordered and properly working civilization with craic like this happening?
We live in a fucking mess. At this stage of my life, the colours of my professional destiny are nailed to the mast; I will never be a politician, or a businessman, or a tradesman. I will probably be a musician/performer/artist for the rest of my life.

But how can these fundamentally important spheres or human life be in such bad condition? how can business be this twisted in to it's own means? how can politics be this full of weeds?

Where are society's guardians and why are they sleeping at the wheel?
all I can do is sing for people and cheer them up after a busy day, fight the battle against the soulless poison pouring out of radios, paid to be there as much as the advertisements are. and hope that, when I buy myself insurance, when I sit down for a pint, when I order TV channels, that my money is going somewhere useful, what I'm being charged is fair, etc.
Maybe had I known how low the threshold of competence was for such things, or how low the moral compass. I could have been a bishop, Taoiseach, property tycoon or CEO of a private hospital.

I wish I could've seen how badly people lie and mislead when I was younger so I could have realized how useless people are at everything., and how much more qualified for positions I considered outside of my skill sets I was in fact probably too good for considering that I consider myself an honest person.

Phew. rant over.

Please stop taking away all the good things in my life world.
Reply
 
# 28 : Tuesday 21-3-2017 @ 17:32
 
 
Someone said :
The loan on Nealon’s, originally borrowed by prolific boom-time property developer Bernard McNamara, moved with the rest of his Irish bank debt to the National Asset Management Agency after the property crash.
Nama sold the loans on the property to the US private equity firm Oaktree last year as part of a portfolio of property loans with a par value of €4.7 billion in the Projects Ruby and Emerald.

The investment firm, which purchased the debt on the property, wish to take back control of the building and do not wish to continue operating it as a public house.

Fucking hell, that's hard to follow!

Gone are the days when publicans own their own pubs, now some investment firm across the ocean can close down a pub they never set foot in but somehow own.
Reply
 
# 29 : Tuesday 21-3-2017 @ 19:36
 
 
Someone said :

Gone are the days when publicans own their own pubs

I can name five pubs in my small village that are all owned by the publican?
Reply
 
# 30 : Tuesday 21-3-2017 @ 21:45
 
 
Someone said :

I can name five pubs in my small village that are all owned by the publican?

I meant in the city
Reply
 
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