Developers...scum or poor losers?

[jafar]

Does that make him the idiot, or the finance company?

$1.00 each way on that one

[Hitcher]

We are all greedy people, ya gott agree eh? - but these developers have taken greed to a stratospherical level...

Even worse, in cohorts with their corrupt valuation and real estate mates, they drive the cost of residential property beyond the reach of many New Zealand families.

[smoky]

If it's true that he is going to lose everything, at least he didn't have everything tied up in a trust so that he sits in his flash house while the contractors go under.
That might show integrity...or really bad legal advice.

personal assets in trusts is not as much protection as you imagine

[1 Free Man]

Today we had an interesting chat around the staff room lunch table. There was an article in the Harold about the developer of Kensington Park (Orewa) that is really upset because the receivers have come in and his family and he will lose everything. Then to top it off the Whisper Cove development has fallen over.

Neither of these failures would be a surprise to someone with half a brain...yep I think I have half of one anyways.

Now most people were shocked when I said I was angry at this guy because his incompetence will take a lot of contractors and their employees down with him. How the hell does someone go into a development with no money (I know I am naive)? Why should anyone feel sorry for him?

Yes doesn't it bring a tear to your eye to think this poor guy has gone into something like this with little or no money up front and now it's all turned to shit he wants the world to weep with him.
Well sorry buddy you don't get a sympathy vote from me that's for sure.!!!
Pricks like this guy are the scum of the earth to my way of thinking.
I have been a contract Electrician in a former life and have suffered the pain of being taken down by one of these pricks.
The fuck that took me down was ordering up extra's on the developement up to and including the day he went down the tube. It was as if he had decided that If he was going to go to the wall then everyone around him was going to go with him.
The shit didn't break me but it took a long time to recover.

[MadDuck]

personal assets in trusts is not as much protection as you imagine

No but it takes a lot of money and expertise to get at them. Unfortunately the average contractor (subbie) does not have the financial ability or knowledge to do this so the larger suppliers will get in frist.

[alanzs]

If it's true that he is going to lose everything, at least he didn't have everything tied up in a trust so that he sits in his flash house while the contractors go under.
That might show integrity...or really bad legal advice.

Bad legal advice.

[smoky]

No but it takes a lot of money and expertise to get at them. Unfortunately the average contractor (subbie) does not have the financial ability or knowledge to do this so the larger suppliers will get in frist.

Receivership/bankruptcy of large companies and developers is just a way to nationalise corporate debt

[MadDuck]

Receivership/bankruptcy of large companies and developers is just a way to nationalise corporate debt

I guess when you work for a company that can afford to take them down it sometimes is worth the expense.

PS: the views expressed here are purely my own and nothing to do with my employer

[Timber020]

I have worked for quite a few developers, and every one of them was a corner cutting, greedy, short sighted, slow to no paying, corrupt, dishonest rat. This includes close family friends who I have known my whole life.

I have yet to come across one that cares anything about what they are doing as long as they
1)make as much money as possible
2)make as much money as possible.
3)flee the scene with as much money as possible.

When they dont pay your often wasting your time dealing with them, they treat it like its part of the game, but annoy his wife by dumping tonnes of tree stumps, mulch, logs and broken concrete in there driveway a few hours before shes having a big flash birthday party, money appears REAL fast. AND they will pay extra to clear it up!

There are alot of way to get to them, some of the guys I have worked around have done some classics.
One has little kids and when they wake up in the middle of the night he calls people that owe him money, if that doesnt work he rings other members of the developers family. The funny thing is that he owes ME money at the moment!
One had some of his guys follow the developer and when the developer parked his car they put up scaffolding around his car with a plywood sign asking to be paid.

I know of a few other things that were a little extreme but got results.

[scumdog]

When they dont pay your often wasting your time dealing with them, they treat it like its part of the game, but annoy his wife by dumping tonnes of tree stumps, mulch, logs and broken concrete in there driveway a few hours before shes having a big flash birthday party, money appears REAL fast. AND they will pay extra to clear it up!

And you stopped there?

You are way more soft than I thought!!

[MadDuck]

but annoy his wife by dumping tonnes of tree stumps, mulch, logs and broken concrete in there driveway

Had a customer offer to do that for me once and though I would love to say yes.....

[Timber020]

And you stopped there?

You are way more soft than I thought!!

Ah its progression, only go as far as you need to get results. We had a pretty good plan if that wasnt enough. We were going to fill 1/3 of a truck with mulch, then chip a few dead goats then fill the rest with mulch. (although we would have to freeze them first to chip them) Leave to season (but would not stink out the truck due to goat being in middle of mulch) and then dump that. We were just a little dissapointed that we didnt get to do it.

I am soft, but im an insomniac so have plenty of plotting and planning time on the very very rare occation when people screw with me!

If you need any suggestions, let me know.

[Bullitt]

After some of the property developers Ive dealt with through work I have absolutely no sympathy for him...

[MadDuck]

After some of the property developers Ive dealt with through work I have absolutely no sympathy for him...

So how come they get people to keep working for them?

[The Stranger:Me]

Unfortunately the average contractor (subbie) does not have the financial ability or knowledge to do this so the larger suppliers will get in frist.

Yeah, poor fucken subbies.
Never turn up on time, delay contracts, can't read or understand a contract, always trying to cut corners, moan like fuck when you actually expect them do thier job properly and on time and more of them go through than main contractors leaving the main contractors picking up the tab for the fixed price they supplied.
My heart bleeds.