Cully & Sully sold to US buyer - A Good or a Bad thing?


Pat Gill

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Tell that to Kerry, Glanbia etc, they took the LONG, SLOW ROAD, not the quick buck SELL OUT like Cully and Sully

Will the various Enterprise Boards be recouping the ACTUAL cost of their investments and expenditure? I want to know.
And their enterprise and hard work was also supported by the taxpayer for a far longer period.

Of course as is always the case, the taxpayer merely backs the support of the SHAREHOLDERS who risked their own money at the start.

Perhaps if Ireland's monetarists and bankers were prepared to support companies such as this then the taxpayer could take a breather and companies such as this could expand globally.

The shareholders of Cooley for example did not receive a cent of dividend for over 25 years.

Put your jollies on the line and your rhetoric might have a value.
 
G

Gimpanzee

care to address tax payer funding of EI who consistently championed these guys, the compliant media that took the EI copy and ran with it?

how much have these guys cost the taxpayer? remember when they launched first the actual soup was made in France!!!

what have EI and other boards spent on this company? what level of grants / loans or otherwise ?
No, I don't care at all really. If the grants are there and this company legitimately availed of them I can't see how it is remotely relevant. If there is a problem that you know about, start a thread about EI's policies.
 

Johnny Was

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Not begrudging them one bit and don't blame them at all for selling. Can't say I wouldn't have done the same thing.

Doesn't make it good though for the country though. Ireland badly needs to build up its own sustainable industries. Begging multinationals to invest here and the associated overdependence are one of our many problems.
 

Phil Maker

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Put your jollies on the line and your rhetoric might have a value.
? are you suggesting that I invest in Ireland?

if you are, I have, significantly.
 
G

Gimpanzee

Not begrudging them one bit and don't blame them at all for selling. Can't say I wouldn't have done the same thing.

Doesn't make it good though for the country though. Ireland badly needs to build up its own sustainable industries. Begging multinationals to invest here and the associated overdependence are one of our many problems.
Weetabix was bought in the past few days by a Chinese company of over a billion pounds. That doesn't make Weetabix Chinese, and it won't appear as no 84 on your takeaway menu. It has no negative effect on the British food industry. It remains a British company, just like Cully and Sully remains an Irish company.
 

Johnny Was

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Weetabix was bought in the past few days by a Chinese company of over a billion pounds. That doesn't make Weetabix Chinese, and it won't appear as no 84 on your takeaway menu. It has no negative effect on the British food industry. It remains a British company, just like Cully and Sully remains an Irish company.
Not if the Chinese or the Americans want to move the companies elsewhere surely?! Maybe we should try not be so dependent on the kindness of strangers who owe us nothing?
 

Pat Gill

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? are you suggesting that I invest in Ireland?

if you are, I have, significantly.
I am delighted to hear it and I hope that your investments pay off handsomely.

But so did the people who invested in Cully & Sully and Cooley.

As I outlined earlier surely the investors in Cooley had earned the right to make a profit after re-investing 100% of their dividends for a quarter of a century.
 
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It is disappointing news even leaving aside the grants question because I had the impression these guys were craftsmen who enjoyed what they did and weren't in it for the quick buck.

It is a pity Irish entrepreneurs do not look more to the German tradition of the Mittlestand.
 

Phil Maker

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Phil Maker

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It is disappointing news even leaving aside the grants question because I had the impression these guys were craftsmen who enjoyed what they did and weren't in it for the quick buck.

It is a pity Irish entrepreneurs do not look more to the German tradition of the Mittlestand.
I was just posting links to the same!
 
G

Gimpanzee

Not if the Chinese or the Americans want to move the companies elsewhere surely?! Maybe we should try not be so dependent on the kindness of strangers who owe us nothing?
Glen Dimplex is one of Ireland biggest private companies - not listed on the Irish stock exchange - entirely Irish owned. To your relief the company will remain in Ireland, whatever that means. The jobs, however are subject to exactly the same rules as American companies and the vast majority are in the likes of China and other lower cost countries.
 

Pat Gill

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Glen Dimplex is one of Ireland biggest private companies - not listed on the Irish stock exchange - entirely Irish owned. To your relief the company will remain in Ireland, whatever that means. The jobs, however are subject to exactly the same rules as American companies and the vast majority are in the likes of China and other lower cost countries.
I should just mention by way of a teaser for a future thread that more and more of these jobs could potentially come back to Ireland due to the effects of the current Third Industrial Revolution.

:D
 

ManOfReason

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Phil Maker

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So to the solution to Irish companies being bough by foreign companies is some vague foreign cultural concept of lovely family owned rural companies where everything is grand and apparently they have no competitive concerns?
nothing vague, its all about not taking the quick buck, its about being the best at what you do, its about not involving otherwise healthy business' in property plays, bank plays etc

its about commitment to the companies and companies committing to their communities

when you cant be bought, you become invaluable
 
G

Gimpanzee

So to the solution to Irish companies being bough by foreign companies is some vague foreign cultural concept of lovely family owned rural companies where everything is grand and apparently they have no competitive concerns?
It's the sort of airy-fairy, castles in the sky nonsense that Phil would drop a bollock over if some lefty proposed it.
 

Phil Maker

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It's the sort of airy-fairy, castles in the sky nonsense that Phil would drop a bollock over if some lefty proposed it.
such companies are eeking it out here in Ireland, the only nonsense to you is that there's not a quick buck to be stolen.
 

White Horse

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Cully & Sully has been sold to a US buyer...

Cully & Sully sold to US buyer - The Irish Times - Fri, May 04, 2012

Well done and good luck to them - but do you think this is a good or a bad thing?

There are plenty of benefits stated in the link but all I see is another successful indigenous company hoovered up by another foreign/multinational which may well see employment maintained and possibly even grow here, but will also mean profits being repatriated elsewhere.

Does this country have a future if successful indigenous companies are constantly taken over by major multinationals?

I don't think it does and I'd like to see any state investment in any company given in return for equity so that at least when these sell offs happen the state benefits.

Irish capital will still seek to invest in property, leaving businesses dependent on foreign capital.

It was always thus and no doubt will lead to another property bubble in the future.
 

Phil Maker

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Gerry Atrick

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