Sean Quinn too stubborn for his own good

Stubbornness is a requisite attribute in anybody who achieves big things. Whether it be in politics, sport, business, the arts, or service to any ideals, the man or woman who refuses to yield, when common sense dictates otherwise, is imbued with a drive to succeed, often against the odds.

So it went with Sean Quinn, who built a business empire from a disused quarry in Fermanagh. Time and again, the former billionaire entered business sectors as an outsider. Each time, he defied common sense to succeed and thrive.

His stubbornness is still evident today, but now, post-crash, as Mr Quinn negotiates his autumn years, you have to wonder whether it’s an asset or a liability.

Mr Quinn is not a happy bunny, despite having much to be happy about. At 68, he has emerged from the loss of his businesses, bankruptcy, and even imprisonment, with both his dignity, and the support of his community, intact.

The future has been secured for most of the businesses he built up in Cavan and Fermanagh. The former Anglo Irish Bank, with which he had got entangled in disastrous loans and share-buying, put the Quinn Group into receivership. Two years ago, most of the group was bought by three local men, backed by US vulture funds. The group was renamed Quinn Industrial Holdings. Continuity with the old group was achieved by appointing Mr Quinn’s long-time senior managers to similar roles, and by retaining Quinn himself as a consultant on an annual stipend of €500,000. The size of the retainer represents the respect and affection he enjoys locally.

Yet Mr Quinn is angry and frustrated that life is not as it used to be, before it all came tumbling down. He appears to believe the businesses were not lost, but merely loaned out.

To that end, he has come into conflict with the new management, some of whom got their start, and blossomed, under him.

Mr Quinn is not the only one up there in Fermanagh/Cavan who is angry and frustrated. Some individuals, who appear to share a purpose with Mr Quinn, but not his support, are taking out their frustration through violence and intimidation.

The latest example was a public death threat to senior management at Quinn Industrial Holdings last week. This is the second such threat. There have also been acts of vandalism against the company. Another arm of the Quinn Group, engaged in wind farming, was sold off separately to a Danish company. It has had to employ a security firm to protect workers. Some managers have received bullets in the post. The Danish ambassador has raised concerns about the issue with the Department of Justice.

Yet another frustrated entity is a self-styled outfit called Concerned Irish Citizens. This group’s stated objective is to have the former Quinn Group companies restored to the ownership of Sean Quinn and his family.

Concerned Irish Citizens seem to believe that laws that govern all other citizens should not apply to somebody whom they obviously hold in the highest esteem.

So there are three separate entities: Mr Quinn, Concerned Irish Citizens, and the thugs, who all appear to share a common purpose, but very different means of achieving it. When urged to come out and condemn the violence, the Quinn family issued a statement: “Sean Quinn and the Quinn family’s stated position is that they have always condemned, and will continue to condemn, negative activity in the local area.”

On Thursday, after the latest death threat, Mr Quinn issued another statement, condemning the “abusive and threatening” activity.

“I have always criticised the intimidation. However, I am but one voice and I feel that other people that operate within this community should play their part, also,” the statement read. It’s unclear to whom Mr Quinn was referring, or what exactly he wanted done.

The Concerned Irish Citizens also expressed their concern at the threats and violence. One member, a Mr Joey Smith, told the Irish Times that he condemned what was being done.

“But I’ll tell you something,” he went on. “I wouldn’t need the FBI to tell you why it is being done. Local people are getting very angry. I think Sean Quinn and the Quinn family are showing great restraint. With regards death threats, I don’t believe in death threats. Having said that, I can see why they would be made.”

The violence isn’t new within the trajectory of the Quinn Group’s demise. When the bank first moved in, there were acts of vandalism and threats against employees of the receiver.

Concerned Irish Citizens, and the Quinns themselves, were able to draw on widespread support, both locally and nationally, to reinforce their sense of grievance. Thousands travelled to Cavan for rallies, in support of a family that felt it had been wronged. The GAA network also mobilised for a stricken member.

For those beyond the locale, it was more straightforward. Mr Quinn had been reckless in gambling his money and his employees’ future. He had run the group’s cash cow, Quinn Insurance, in such a manner that it had to be bailed out. Every insurance policy-holder in the State is paying a levy to cover the cost of the bail-out.

Yet, among his own, he was able to draw on his 40-year record of local enterprise to enjoy the status of a local chieftain grievously wronged.

That all seems like a long time ago. Now, the division is not between the local community and outsiders, but, instead, resembles a form of internal strife.

Those with whom Quinn soldiered, on his meteoric rise and steep descent, are now the enemy. The stated objective of the earlier campaign — to ensure that the businesses continue to thrive locally — is not the main issue. The loyalty of a close-knit community is no longer a weapon in the fight against perceived enemies from beyond.

This time, it’s Sean Quinn looking for a way to take back what he believes is his. Greed, he said himself, was his downfall in throwing good millions after bad in Anglo shares. And one has to wonder whether it is the same story now, as he apparently strives to gain back ownership of his former companies, irrespective of the cost.

While he maintains that position, it’s unlikely that the thugs whom he condemns will stop. It’s also unlikely that the ludicrous Concerned Irish Citizens will concede that it’s time to lay down their vitriol. What should be of concern to Mr Quinn is the damage he may be doing to the legacy he enjoys locally, where most have been prepared to paper over the bad, remembering only the good he has done.

At times like these, the stubbornness that was once a valued ally can manifest itself as a deadly enemy.