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Posts tagged ‘Glen Dimplex’

Group of 17 “leading figures” submits blueprint for recovery

SIMON CARSWELL, Finance Correspondent

A GROUP of 17 leading business and public figures has submitted a wide-ranging report to the Government with ideas that they believe will lead to economic recovery.

The report, A Blueprint for Ireland’s Recovery, proposes ways to create jobs, reform the public sector, rebuild international confidence in Ireland and re-engineer the banking system.

The group, which is chaired by businessman Philip Lynch and the chief executive of the Rehab Group, Angela Kerins, submitted the 38-page report to the Department of the Taoiseach last week.

The authors of the report include: Michael Berkery, former chief executive of the Irish Farmers’ Association; former taoiseach John Bruton; businessman Leslie Buckley; former European Parliament president Pat Cox; financier Dermot Desmond; and Fine Gael strategist Frank Flannery.

The other participants are: former Fianna Fáil minister for finance Ray MacSharry; businessman Denis O’Brien; Seán O’Driscoll, chief executive of Glen Dimplex; property developer Michael O’Flynn; former Bank of Ireland chief executive Mike Soden; former National Treasury Management Agency chief executive Michael Somers; former Labour tánaiste Dick Spring; chairman of Goldman Sachs International and formerly of BP Peter Sutherland; and the former secretary general of the Department of Communications Brendan Tuohy.

A spokesman for the group had no comment. “The contents of the report are private until such time as there is engagement with the Government on it,” he said.

The group recommends that the Government go further than the cuts in public spending suggested by economist Colm McCarthy in his “Bord Snip Nua” report.

The public sector should be reduced by about 30,000 jobs and the social welfare system should also be reformed, the report says.

A new minister for competitiveness should ensure that targets are met on public sector reform while electoral and public sector reform should be monitored with regular progress reports.

More than 200,000 jobs can be created, the group argues, by developing five sectors – manufacturing, tourism, agriculture, life sciences and information and communications technology.

The sale of the two big banks, AIB and Bank of Ireland, to international buyers is recommended. The group calls for Nama to be reviewed as it has failed to meet its objectives.

To restore confidence and Ireland’s reputation, an investor relations strategy should be developed to attract overseas investment. Among the targets suggested is that 20 per cent of foreign direct investment should be sourced from south east Asia by 2015.

Comment:

Just one look at the so called “leading figures” is enough  to disregard anything these self appointed saviours of the country.They benefited the most from the Celtic Tiger and now they want to secure more benefits for themselves naturally by putting their proposals to their pals in high places in the new Goverement >  

  Michael Berkery, former chief executive of the Irish Farmers’ Association; former taoiseach John Bruton; businessman Leslie Buckley; former European Parliament president Pat Cox; financier Dermot Desmond, Fine Gael strategist Frank Flannery,former Fianna Fáil minister for finance Ray MacSharry; businessman Denis O’Brien; Seán O’Driscoll, chief executive of Glen Dimplex; property developer Michael O’Flynn; former Bank of Ireland chief executive Mike Soden; former National Treasury Management Agency chief executive Michael Somers; former Labour tánaiste Dick Spring; chairman of Goldman Sachs International and formerly of BP Peter Sutherland; and the former secretary general of the Department of Communications Brendan Tuohy.

All of the above are from what one can only call the “Insiders Club” and some of them should be in Jail. all have benefited of the backs of the ordinary people of Ireland and some still do!(Sticky Dick Spring, Ray MacSharry, Michael Somers, Brendan Tuohy,  Peter Sutherland, John Bruton)

I sure Goldman Sachs is really worried about the unemployed and the poor of this country!

For example who is this Goldman Sachs Mr Peter Sutherland works for ?????

 

 

 

 Right!

Incompetence rewarded at AIB

Figures in AIB’s annual report show the bailed-out bank paid its top management €3.6m last year, down from just over €5m the previous year.

The figure is the combined bill for executive and non-executive directors.

The bank’s finances were badly hit in 2009 following the implosion of the property market.


AIB’s former Chief Executive Eugene Sheehy earned €892,000 in 2009, down from €1.15m in 2008, according to the report. He retired from the position on 30 November.


Colm Doherty, who was appointed as the bank’s Managing Director towards the end of last year, saw his salary grow from €822,000 to €833,000 between 2008 and 2009.

Mr Doherty took over in early November. December and part of November reflect his salary at the capped rate of €500,000.


AIB’s former Chairman Dermot Gleeson, who retired at the end of June, took home €203,000 for his services – a decrease from €475,000 the previous year.

 


Sean O’Driscoll, a non-executive director of the bank who is due to retire this year, waived his fee for 2009.

Mr O’Driscoll, who is the Chief Executive of Glen Dimplex, is continuing to do the work free this year.

 

 

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Do these gents look like they care?
No, they couldn’t care less!

The Taxpayers of this country are going to be footing the bill to keep this lot in clover for the foreseeable future

When will the people rise up and kick these incompetent directors out?

We are literally rewarding criminal negligence

That’s like paying the Nazis for killing the Jews

Looking at this picture I am reminded of another (Below)

Notice the same expressionless faces

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