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 Post subject: Re: Eddie Hobbs Property Fund ( Brendan Investments)
PostPosted: Sat Oct 27, 2012 4:06 pm 
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Hobbs's property firm back in profit after two years of losses - Gordan Deegan -> http://www.independent.ie/business/iris ... 76047.html

Quote:
However, the crash in the property sector resulted in the company raising only €12.6m from investors through the public round of funding.
The figures show that the company's cash further reduced last year from €1m to €135,691. The firm had a bank loan of €18.5m at the end of the year.
The accounts show that the four directors -- Mr Hobbs, Vincent Regan, Hugh O'Neill and Dermot Flanagan -- received an aggregate €26,933 in directors' remuneration in 2011.
The accounts show that a sister company with the same directors, Brendan Investments Property Management (BIPM) Ltd was paid €334,900 by BIPEP, inclusive of directors' salaries of €107,400 during 2011.
The refurbishment costs in 2010 stemmed from the tenant for the building, the DAX-listed Arcandor going into liquidation in October 2009.

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 Post subject: Re: Eddie Hobbs Property Fund ( Brendan Investments)
PostPosted: Sat Oct 27, 2012 7:13 pm 
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Sloppy reporting. Arcandor wasn't in the DAX and anyway DAX is an index not an exchange


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 Post subject: Re: Eddie Hobbs Property Fund ( Brendan Investments)
PostPosted: Sat Jul 11, 2015 9:25 am 
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Eddie Hobbs property firm plunges into red after €2m loss - Gordon Deegan -> http://www.independent.ie/business/pers ... 68638.html

Quote:
The property investment firm established by celebrity consumer advocate Eddie Hobbs plunged into the red in 2013 to record losses of €2.1m.
The Cork-based Brendan Investment Pan European Property (BIPEP) plc had recorded a profit of €481,815 in 2012.
The loss in 2013 - just revealed in new accounts filed - represents a negative swing of €2.6m. The reversal in fortune for the property firm will disappoint the hundreds of people across the country who each invested €5,000 and more in the firm after its much-publicised launch in 2007.

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 Post subject: Re: Eddie Hobbs Property Fund ( Brendan Investments)
PostPosted: Mon Jul 13, 2015 12:21 pm 
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The firm's profit in 2012 arose mainly from a €1.2m gain from it purchasing distressed residential properties in the Detroit region of the US.


Can someone please decipher what this means for me ?


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 Post subject: Re: Eddie Hobbs Property Fund ( Brendan Investments)
PostPosted: Mon Jul 13, 2015 12:43 pm 
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mr_anderson wrote:
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The firm's profit in 2012 arose mainly from a €1.2m gain from it purchasing distressed residential properties in the Detroit region of the US.


Can someone please decipher what this means for me ?


Reading the rest of the article - I'm guessing it bought them at a write down and immediately re-valued upwards to create gain. That's largely a guess though.

I've no real time or interest to look into the matter properly.

I do find it weird they are investing in Detroit property


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 Post subject: Re: Eddie Hobbs Property Fund ( Brendan Investments)
PostPosted: Tue Jul 14, 2015 5:30 pm 
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Detroit is on the mend apparently - we could learn a lot from them. Public and private pulling in the same direction for the greater good? Not on your life

http://www.ft.com/intl/cms/s/0/16108af8 ... ab7de.html

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 Post subject: Re: Eddie Hobbs Property Fund ( Brendan Investments)
PostPosted: Wed Jul 15, 2015 2:34 am 
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Wow, do people actually take investment advice from this little Caark runt? :shock:


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 Post subject: Re: Eddie Hobbs Property Fund ( Brendan Investments)
PostPosted: Wed Aug 12, 2015 2:49 pm 
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http://www.irishexaminer.com/ireland/mh ... 2/?ref=yfp

Quote:
Hobbs and wife earn €1.2m in two years from firm

New figures show consumer advocate and Renua Ireland president Eddie Hobbs and his wife, Mary have paid themselves over €1.2m over the past two years from their financial services firm.


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 Post subject: Re: Eddie Hobbs Property Fund ( Brendan Investments)
PostPosted: Sat Sep 05, 2015 12:38 pm 
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745 wrote:
Detroit is on the mend apparently - we could learn a lot from them. Public and private pulling in the same direction for the greater good? Not on your life

http://www.ft.com/intl/cms/s/0/16108af8 ... ab7de.html



Investing in Detroit.
Because you can take the boyo out of Corktown but you'll never take Corktown out of the boyo! :shock:

Quote:
The Great Irish Potato Famine of the 1840s caused heavy Irish migration to the United States in droves, and by the middle of the 19th century, they were the largest ethnic group settling in Detroit. Many of these newcomers settled on the west side of the city; they were primarily from County Cork, and thus the neighborhood came to be known as Corktown. By the early 1850s, half of the population of the 8th Ward (which contained Corktown) were of Irish descent. Historically, the neighborhood was roughly bounded by Third Street to the east, Grand River Avenue to the north, 12th Street to the west, and Jefferson Avenue/Detroit River to the south.

https://en.wikipedia.org/wiki/Corktown,_Detroit


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 Post subject: Re: Eddie Hobbs Property Fund ( Brendan Investments)
PostPosted: Sat Sep 05, 2015 1:32 pm 
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Quote:
The Great Irish Potato Famine of the 1840s caused heavy Irish migration to the United States in droves

On a side note, this is a pet hate of mine. It wasn't a famine affecting potatoes, it was a famine that affected people. I'm sure the potatoes had plenty to eat. I also note that nobody talks about the 'Ethiopian Wheat Famine' or the 'Ukrainian Potato Famine'. Oddly enough, the focus in those cases is more on the people who died rather than on their favourite snack. Calling the Irish experience a 'potato famine' sounds like some sort of combination of minimisation, victim blaming and colonial sneering.

/obscure rant


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 Post subject: Re: Eddie Hobbs Property Fund ( Brendan Investments)
PostPosted: Sat Sep 05, 2015 4:20 pm 
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Barney Gumble wrote:
Quote:
The Great Irish Potato Famine of the 1840s caused heavy Irish migration to the United States in droves

On a side note, this is a pet hate of mine. It wasn't a famine affecting potatoes, it was a famine that affected people. I'm sure the potatoes had plenty to eat. I also note that nobody talks about the 'Ethiopian Wheat Famine' or the 'Ukrainian Potato Famine'. Oddly enough, the focus in those cases is more on the people who died rather than on their favourite snack. Calling the Irish experience a 'potato famine' sounds like some sort of combination of minimisation, victim blaming and colonial sneering.

/obscure rant

I agree. When I was younger I could never understand why people living in a country with so much fish available would die because of a potato blight. I mean, it makes no sense on the face of it because it sounds from the name like it was just an issue with the potatoes.

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 Post subject: Re: Eddie Hobbs Property Fund ( Brendan Investments)
PostPosted: Sat Sep 05, 2015 6:14 pm 
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Mantissa wrote:
When I was younger I could never understand why people living in a country with so much fish available would die because of a potato blight. I mean, it makes no sense on the face of it because it sounds from the name like it was just an issue with the potatoes.

In the era before refrigeration, fish was only available within a short few miles of the coast. But, as you say, the issue wasn't lack of potatoes either.

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 Post subject: Re: Eddie Hobbs Property Fund ( Brendan Investments)
PostPosted: Sat Sep 05, 2015 7:00 pm 
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ps200306 wrote:
In the era before refrigeration, fish was only available within a short few miles of the coast. But, as you say, the issue wasn't lack of potatoes either.

That's completely untrue. I'm surprised at you PS

Refrigeration was not the problem. The Basques used to catch cod of the Grand Banks dry and salt it in sheltered coves in Newfoundland and then sail it back for the consumption in all areas of Spain back in the 1500's

https://en.m.wikipedia.org/wiki/Cod_fis ... wfoundland

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 Post subject: Re: Eddie Hobbs Property Fund ( Brendan Investments)
PostPosted: Sat Sep 05, 2015 7:39 pm 
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TIL.


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 Post subject: Re: Eddie Hobbs Property Fund ( Brendan Investments)
PostPosted: Sat Sep 05, 2015 8:38 pm 
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ps200306 wrote:
Mantissa wrote:
When I was younger I could never understand why people living in a country with so much fish available would die because of a potato blight. I mean, it makes no sense on the face of it because it sounds from the name like it was just an issue with the potatoes.

In the era before refrigeration, fish was only available within a short few miles of the coast. But, as you say, the issue wasn't lack of potatoes either.


I recall reading somewhere that temporary food shortages and minor famines were pretty much part of the rural Irish experience. In the first years of the great famine many assumed it was going to be a transient issue. As a result with limited food they liquidated assets (including boats/nets etc. in fishing areas) to buy food to tide them over and with a view to buying the equipment back when a better harvest came. Unfortunately it didn't come in time. I can't recall where I read this but maybe someone will remember.


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