'New Era' privatisation body to be headed by Fergus O'Dowd

[Captain Con O'Sullivan]

Just looking at Dr Eileen Fitzpatrick's CV- she of National Treasury Management Agency and one of the people charged with overseeing the sale of state assets which Howlin and Kenny whimper 'might' be allowed to be used to promote growth in the economy (and given the Irish Government's record at persuasion where the Troika is concerned I really wouldn't take much notice of that hope).

'Dr Eileen Fitzpatrick
Managing Director and Chief Investment Officer, AIB Investment Managers Ltd (AIBIM)
Current responsibilities: MD and CIO of AIBIM. AIBIM has assets under management of close to IR£11 bn.
Education: Third level: Ph. D (Chemistry), UCD, 1986. Second level: Loreto Convent, Bray, Co Wicklow.
Career progress: Started in May 1987 with Montgomery Govett Investment Managers, as an equity asset manager. Joined AIBIM in 1988, initially managing UK equities, before being appointed to the position of Head of International Equity Investment. In 1993 moved to NCB Stockbrokers to work in their International Equity Sales Area. Recruited from there to head up the International Equity Sales Division of Goodbody Stockbrokers in 1995. Rejoined AIBIM in 1996 as Deputy Investment Director with responsibility for International Equities, and in 1997 appointed Investment Director. In April 2000 appointed as Managing Director and CIO of AIBIM.
Personal: Date of birth: 5/1/59. Place of birth: Dublin. Family: My husband is Eamon Keogh and we have two children, Sorcha aged 8 and Cormac aged 4.
Social & sporting memberships: Member of Riverview Sports Club.
Interests: Reading, swimming, walking and travel.
Recommended books: Post Capitalist Society -Peter F. Drucker, American Pastoral - Philip Roth, The Shipping News - E. Annie Proulx.' http://www.finance-magazine.com/disp...?i=3287&pi=140

Chief Investment Officer AIB? Goodbody Stockbrokers? I'm sure she'll be a right patriotic hero in guarding Irish state assets for a start.

With a CV like that you really should have your mugshot up in post-offices.

[Captain Con O'Sullivan]

And as an aside I notice Howlin said in his statement around NewERA that the government are hoping to use the National Pension Reserve Fund to 'promote growth' as well in the economy if those nice people in the IMF office will agree to that (which they won't).

Two things about that;

(1) That NPRF was looted by Lenihan to throw money at the bondholders of Irish banks so the money can't be used twice- if I recall correctly it once had 28billion euro in it before Lenihan stole most of it by ramming legislation through the Dail converting the NPRF to a 'Special Purpose Vehicle' for paying bondholders.

(2) Our friend Dr Eileen Fitzpatrick here is currently 'helping' that Special Purpose Vehicle which used to be the NPRF and here we have her being appointed to head the privatisation programme of state assets via NewERA.

Howlin and Kenny are bullshytting as badly as Lenihan did.

[Captain Con O'Sullivan]

Heh- you can tell someone from inside the civil service updated the wikipedia site on Fergus O'Dowd as 'Minister for NewERA' capers because if you roll your cursor over the title on the page a reference comes up which says 'Government economic stimulus plan'. http://en.wikipedia.org/wiki/Ministe...31st_D%C3%A1il

Is it like phuc. It is the sell off of state assets to vulture capitalists.

It'll be interesting to watch for enthusiastic comment from Niall O'Dowd over at Irish Voice or 'Irish Central' in the states what with him being Fergus O'Dowd's brother n'all.

[DCon]

100,000 jobs, Lucinda promised

Fine Gael’s 5 Point Plan to Get Ireland Working contains the most comprehensive jobs and growth strategy of any Party in this election, according to Fine Gael Front Bench Spokesman Simon Coveney.

“Fine Gael believes that NewERA, combined with our other jobs initiatives, can create 100,000 new jobs over the next five years. Integral to that plan is the creation of at least 20,000 jobs directly in the trade and construction sectors though investment in key infrastructure projects.

http://www.lucindacreighton.ie/2011/...uction-sector/

the actual literature, http://www.finegael2011.com/pdf/NewERA2010.pdf , promised 105,000

Noonan dismissed this

Fine Gael’s new Finance spokesperson is reported to have told a radio station that, in his opinion, ‘New ERA’, FG’s €18bn centre piece programme to revive the Irish economy, will not create the 105,000 new jobs that is its headline promise.

The 105,000 new jobs number may have been the product of some over-enthusiastic PR people, the FG Finance spokesperson said, in the process making his party leader, who trumpeted the 105,000 jobs promise in his Party Conference address last March, look ridiculous.

http://www.irishelection.com/2010/07...-and-counting/

[Captain Con O'Sullivan]

Creighton is either a real cretin or is being cut down to size by a faction within the Government. If she did go off on one about New ERA creating jobs she either doesn't understand what she's looking at or she's been primed by someone to look foolish.

It isn't a stimulus programme at all but a firesale of state assets which if anything will result in job losses.

Even Howlin said in his statement on NewEra that the government are 'hoping' to be allowed to use the proceeds of state asset sales for stimulating the 'growt' unicorn but that entirely depends on permission from the Troika.

I doubt they'll even ask the Troika because they know what the answer will be.

[Captain Con O'Sullivan]

The other possibility with chum buckets of false information being dropped in the water around NewERA which is essentially the same sort of vehicle as the Hellenic Republic Asset Development Fund in Greece is that the confusion is deliberate.

Creighton predicts a 100,000 jobs out of it- the clown.

Dept of Finance spokesman says it is an 18billion stimulus programme and that is on the basis of an assumption that the Troika will agree to the money being used for that purpose- and not for paying debt down which is an extremely shaky assumption.

Howlin says he 'hopes' it can be used towards a stimulus programme but we have to ask the Troika first which is probably most accurate but there again depends on a 'no' or 'yes' from the Troika.

If these people all genuinely believe they are right I'd be shocked at the chaos in understanding in the Coalition and senior civil service- which leaves the only remaining possibility which is that this is all intended distraction from the firesale of state assets as in Greece.

[Kev Bar]

the only question is; will the lads in NAMA be brazen enough to buy these assets in their own name or will they hide behind some corporate venture?

Surely that would be the Sharon in Temple Mount moment.

But there again people would have to be aware of the moment.

[DCon]

Bord Gais on deck

Frank Fitzgibbon ‏@FrankSunTimes

SunTimes Biz: Bord Gais disposal moves closer as British advisors to sale are appointed by government...

[PaddyJoe]

Bord Gais on deck

I wonder if the complaint against Bord Gais by the Association of Plumbing and Heating Contractors ever went anywhere?

The Association made the complaint because it believes the awarding of a contract by Bord Gáis to install and service boilers to one company, Sierra, means independent contractors cannot access the gas company's billing system.
However, Bord Gáis denies this.
This means customers of independent contractors have to pay for the installation of a boiler up front.
However, consumers who use Sierra can spread the cost of payment across a number of bills.

http://www.rte.ie/news/2012/0411/sdfdsf.html

Sierra is a subsidiary of Siteserv which of course was acquired by a Denis O'Brien off shore company back in March.

[DCon]

Sierra is a subsidiary of Siteserv which of course was acquired by a Denis O'Brien off shore company back in March.

Nuff said

We will be the Republic of Dinny if FG are in power long enough

[Dr. FIVE]

from the new legislative program

Communications Energy and Natural Resources

65 Common Arrangements for Gas Bill - To amend the Electricity Regulation Act 1999 and to allow for arrangements to be put in place to facilitate an all-island gas market

Publication Expected - 2013


66 EirGrid Bill - To establish EirGrid in primary legislation

Publication Expected - 2013


67 Gas Regulation Bill - To address legislative amendments consequent to the sale of Bord Gais Energy

Publication Expected - 2013

Good man Pat

[PaddyJoe]

from the new legislative program



Good man Pat

Tis a very wide range of sthuff that Pat has to look after. Denis was in to see him in April.

Mr Rabbitte confirmed he had had a meeting in his department with businessman and media tycoon Denis O’Brien, which took place “about three months ago”.

http://www.irishtimes.com/newspaper/...321235275.html

[C. Flower]

Tis a very wide range of sthuff that Pat has to look after. Denis was in to see him in April.

http://www.irishtimes.com/newspaper/...321235275.html

Riding for a big fall, imo.

[PaddyJoe]

Riding for a big fall, imo.

Himself and Ruari Quinn riding to the rescue of James Reilly and leaving their junior minister colleague twisting in the wind won't be forgotten either.

[Dr. FIVE]

THE UK's "Big Six" power companies are the most likely bidders when Bord Gais assets come up for sale next year

http://www.independent.ie/business/i...3-3249800.html