Page 1 of 15 12311 ... LastLast
Results 1 to 15 of 211

Thread: Denis O達rien: Dividends, Debt And Paying Back Anglo

  1. #1
    Join Date
    Mar 2010
    Posts
    7,492

    Default Denis O達rien: Dividends, Debt And Paying Back Anglo

    Thanks to broadsheet.ie for picking up on this story. I could just as easily put this in the media forum, it's remarkable that this story appeared in the Sunday Times but not I might add the Irish version:-

    This is an extract from an article by Danny Fortson in yesterday痴 Sunday Times (behind paywall) which never made it into the Irish edition, revealing (for the first time) that Denis O達rien owes hundreds of millions to Anglo.
    http://www.broadsheet.ie/2012/01/16/...ng-back-anglo/
    Thomas Jefferson : Banking Establishments are More Dangerous to our Liberties than Standing Armies.

  2. #2
    Join Date
    Jul 2011
    Posts
    939

    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    Quote Originally Posted by ang View Post
    Thanks to broadsheet.ie for picking up on this story. I could just as easily put this in the media forum, it's remarkable that this story appeared in the Sunday Times but not I might add the Irish version:-



    http://www.broadsheet.ie/2012/01/16/...ng-back-anglo/
    So he is ,essentially,bankrupt?

  3. #3
    Join Date
    Mar 2010
    Location
    heart of Europe
    Posts
    22,953

    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    Quote Originally Posted by Donal Og View Post
    So he is ,essentially,bankrupt?
    Oligarchs don't go bankrupt. They have the State pay their debts or saddle the companies they own with the debts and walk

    O'Brien taking "dividends", Seanie Quinn giving his kids company cash for their "personal wealth portfolio". Spot a pattern?

    Profits are MINE, debts are somebody else's
    Last edited by DCon; 16-01-2012 at 04:48 PM.
    Politics is the gentle art of getting votes from the poor and campaign funds from the rich, by promising to protect each from the other. ~Oscar Ameringer

  4. #4
    Join Date
    Jul 2011
    Posts
    939

    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    Quote Originally Posted by DCon View Post
    Oligarchs don't go bankrupt. They have the State pay their debts or saddle the companies they own with the debts and walk

    O'Brien taking "dividends", Seanie Quinn giving his kids company cash for their "personal wealth portfolio". Spot a pattern?

    Profits are MINE, debts are somebody else's
    Yes,I thought as much,just hoped someone else would confirm it!
    Last edited by DCon; 16-01-2012 at 04:49 PM.

  5. #5

    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    Very good piece and well done to Broadsheet for the eye opener, ties in nicely with a piece I blogged myself http://gfmurphy101.wordpress.com/201...e-capitalists/ which asks that left wing activists make it a priority to expose the exploitative (incl corrupt) nature of capitalism

  6. #6
    Join Date
    Feb 2010
    Location
    Rockall
    Posts
    78,438

    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    Quote Originally Posted by ang View Post
    Thanks to broadsheet.ie for picking up on this story. I could just as easily put this in the media forum, it's remarkable that this story appeared in the Sunday Times but not I might add the Irish version:-



    http://www.broadsheet.ie/2012/01/16/...ng-back-anglo/
    This seems very signficant. Of course, we don't know how much he owes Anglo Nua.

  7. #7
    Join Date
    Mar 2010
    Posts
    237

    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    And back to the night of the guarantee. From the Times:
    The debate was not confined to the banking community. The same source said Dermot Desmond and Denis O達rien, two of Ireland痴 most prominent businessmen, both phoned the Department of Finance to argue against nationalisation in the interests of the economy.

    http://namawinelake.wordpress.com/20...-probably-not/ (See comments)

  8. #8
    Join Date
    Feb 2010
    Location
    Rockall
    Posts
    78,438

    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    Quote Originally Posted by gfmurphy101 View Post
    Very good piece and well done to Broadsheet for the eye opener, ties in nicely with a piece I blogged myself http://gfmurphy101.wordpress.com/201...e-capitalists/ which asks that left wing activists make it a priority to expose the exploitative (incl corrupt) nature of capitalism
    Interesting. I think we need to expose the central exploitative core of capitalism, which is that people do not get paid for all the work they do.

    In so far as O'Brien's firms have ever "made profit" it has been as a result of the unpaid portion of the work done by telecoms workers, construction workers and others.

    The Vita Cortex and La Senza occupations have brought this to the forefront in a way not achieved by the more amorphous occupations of public spaces. The character of these space Occupations is shaped by the politics of the occupiers - it is essentially not that different to under canvas versions of the big "colour revolution" sit ins - radicalised by the economic crisis.

    Even Vita Cortex and La Senza (and before that Waterford Glass) were sadly only occupations for a pay off, rather than a takeover of control of factories and jobs.

  9. #9
    Join Date
    Feb 2010
    Location
    Rockall
    Posts
    78,438

    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    Quote Originally Posted by bokonon View Post
    And back to the night of the guarantee. From the Times:
    Yes indeed. Reported in the UK Press ?

    And why is the World Bank bankrolling him? It seems its stands to lose a large sum.

  10. #10
    Join Date
    Mar 2010
    Posts
    2,853

    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    Quote Originally Posted by disability student View Post
    A huge question mark surrounds ODCE and the role of a director?? To date, they aren't interested in pursuing Sean Gallagher, Jack Ronan, other directors who took advantage of the company law, which is very lax and poor.
    Taking advantage of company law is not necessarily breaking company law. This is what a lot of non-business people don't understand. It is similar to the difference between tax avoidance and tax evasion.

    Regards...jmcc

  11. #11
    Join Date
    Feb 2010
    Location
    Rockall
    Posts
    78,438

    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    Quote Originally Posted by jmcc View Post
    Taking advantage of company law is not necessarily breaking company law. This is what a lot of non-business people don't understand. It is similar to the difference between tax avoidance and tax evasion.

    Regards...jmcc
    Company law does provide a legal framework much better defined than in non-company firms. Directors can't just help themselves to company assets whenever they feel like it.

    The ODCE is plainly under resourced and letting people away with blue murder.

    And of course the fact that some people are spectacularly bankrupt does not make it particularly worth while for them to be pursued.

  12. #12

    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    Agree on much of what you say, and perhaps you are right about the "pay off factor". My point is that while the left should support the workers involved, their focus should also be on the formation of "class consciousness" . Most of the reaction of the public as regards the workers at La Sensa etc has been an outrage at the way those workers have been treated. In fairness, we have seen in the media a lot of criticism aimed at the owners of Vita Cortex etc, but the media like to portray these owners as renegades or bad apples , thus the focus is removed from as you put it "to expose the central exploitative core of capitalism, which is that people do not get paid for all the work they do." I hold a belief that one can not make an anti capitalist unless they feel it in their pocket and stomach, and I also believe that we are entering a period when more and more people are goin to feel the exploitative nature of capitalism particularly in the western world, so there is opportunity for the left to chip away at the cosy consensus that surrounds capitalism. My point re the occupy movement is that it has shown that global resistance is possible !?

  13. #13
    Join Date
    Feb 2010
    Location
    Rockall
    Posts
    78,438

    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    Quote Originally Posted by gfmurphy101 View Post
    Agree on much of what you say, and perhaps you are right about the "pay off factor". My point is that while the left should support the workers involved, their focus should also be on the formation of "class consciousness" . Most of the reaction of the public as regards the workers at La Sensa etc has been an outrage at the way those workers have been treated. In fairness, we have seen in the media a lot of criticism aimed at the owners of Vita Cortex etc, but the media like to portray these owners as renegades or bad apples , thus the focus is removed from as you put it "to expose the central exploitative core of capitalism, which is that people do not get paid for all the work they do." I hold a belief that one can not make an anti capitalist unless they feel it in their pocket and stomach, and I also believe that we are entering a period when more and more people are goin to feel the exploitative nature of capitalism particularly in the western world, so there is opportunity for the left to chip away at the cosy consensus that surrounds capitalism. My point re the occupy movement is that it has shown that global resistance is possible !?
    That is very true, and important. People are being driven into action in a general way, but there is a huge pressure to blame individuals rather than the system itself.

    Demonisation of bankers, rather than the system, has a history of having turned nasty.

    The left need to get stuck into these movements and argue out the issue of whether the crisis is because capitalism has corrupt people within it / is not being allowed to run properly (as Ganley/Gurdgiev would say) or whether it is in itself a system past its sell-by date, that is causing a ghastly spiral of worsening crises.

    The way these actions have ripped around the world in a year is amazing and must be an indication of the way globalisation has brought world economies into sync.
    Last edited by C. Flower; 16-01-2012 at 09:54 PM.

  14. #14
    Join Date
    Mar 2010
    Posts
    22,431

    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    Very interesting article on O'Brien. Its worth recalling that one of Seanie Fitzpatrick's sons works for Digicel. Also Fitzpatrick's daughter, Sarah, worked as a volunteer for Haven, O'Brien's Haiti charity.
    Very curious that the article didn't appear in the Irish edition. Or maybe not.

  15. #15
    Join Date
    Dec 2010
    Posts
    788

    Default Re: Denis O達rien: Dividends, Debt And Paying Back Anglo

    Quote Originally Posted by PaddyJoe View Post
    Very interesting article on O'Brien. Its worth recalling that one of Seanie Fitzpatrick's sons works for Digicel. Also Fitzpatrick's daughter, Sarah, worked as a volunteer for Haven, O'Brien's Haiti charity.
    Very curious that the article didn't appear in the Irish edition. Or maybe not.
    Don't forget his trip to Nigeria on behalf of Seanie either.
    Do the right thing.

Page 1 of 15 12311 ... LastLast

Bookmarks

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •  
Share us
Follow Us