Shane Ross

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Archive for July, 2010

ESB Boss Fails O’Leary Test

TWO mighty Irish companies rose above the radar last week.

The cream of the private sector and the jewel in the semi-state crown were both hit by natural disasters in recent months. Ryanair responded to being smothered by an Icelandic volcano; the ESB, top of the privatisation hit list, was facing fierce flak for its handling of last year’s floods in Cork.

On Tuesday while Ryanair was revealing how the volcano hit its profits, the ESB’s reaction to the flooding catastrophe was being scrutinised by Deputy Sean Fleming’s Oireachtas Committee on the Environment.

Sean Leaves his Pals in Situ

NOW that a stake has been driven through Seanie’s heart, what will be his legacy? How will he rank in the pantheon of great Irish bankers?

Well, he was unique. No Irish banker has ever behaved more recklessly than Seanie Fitz. First he put Anglo Irish Bank, next himself, and finally the nation, at risk of financial oblivion.

Some legacy.


Daly Trapped in Bankers’ Sting

Frank Daly, the chairman of Nama, is hardly the first guy you would invite to a wife-swapping orgy or to a drunken dinner party.

Presidents of Waste Flying High

BOOKIES Paddy Power is offering interesting odds for the next President of Ireland and the first directly elected Lord Mayor of Dublin.

Businessman and independent senator Feargal Quinn is moving up in the betting for the mayoralty. Today he is fourth favourite at 8/1. Paddy Power tells me that there has been steady money for Feargal in recent weeks.

The supermarket king protests a lack of interest, but let us hope that someone twists his arm, as the first executive Lord Mayor of Dublin will need plenty of business expertise. He will have a big budget, awesome responsibility and discretionary spending powers never before enjoyed by a mayor.

No-one has a better business pedigree than Feargal. He took the most difficult of all business decisions, selling his family supermarket chain at the top of the market. His record makes him ideally equipped to promote the prosperity of the people of Dublin. Besides, he carries no party political baggage.