It's Galway Race Week. The Galway Tent is still in action, safely offshored in Manchester, England. Is this PR stunt of a Developers Autocracy (DDDA) chief 'resigning' just another scam ? Surely Anglo-Irish has no more bananas for the training of the DDDA monkeys?
If N. Brennan has integrity as a 'governance expert' then perhaps the public employee should recommend shutting down DDDA entirely in the national interest.
The recession ended on Thursday in Wall Street, so investors will be on the move, perhaps even looking at Dublin.
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PS: Google is still paying rent to Zoe Developments inside the 'docklands' but guess who pays for the Developer Autocracy chief's payoff. "Developers"? Or hospital operating theatres in Crumlin?
NAMA SAVES SPECULATORS.Estate Agent: Mr. Gormley's Fianna Fail.
Bank: Anglo-Irish Bank
Funds: New Property Taxes
Planning: DDDA
Jobs Fired: 300
Press: N.Brennan
6 comments:
The DDDA cabal
Posted: 23 Dec 2008 02:30 PM CST (from Gavins blog http://feeds.feedburner.com/~r/gavinsblog/nzYN/~3/493434822/)
I see new Anglo Irish chairman Donal O’Connor has seen fit to resign from his position at the Dublin Docklands Development Authority . John Gormley accepted his resignation today. Mr O’Connor served as Chairman of the DDDA since the middle of 2007. In a statement the DDDA said:
He has made this decision in light of his very significant commitment to his role in Anglo Irish Bank. His resignation also ensures that there can be no suggestion of a potential for conflict of interest, either perceived or real, with his new role as Chairman of the Bank.
...
Furthermore, what is Mr O’Connor’s relationship with those two individuals? How did Mr O’Connor do while he headed the DDDA? Well, while he was chairman, he entered into a secret deal with Liam Carroll, which led to legal action. The secret deal could cost taxpayers millions. And who does Mr Lenihan choose to head Anglo? Mr O’Connor. In October, the Phoenix was on the story:
Having last year entered into a secret arrangement with developer Liam Carroll – which was challenged by Seán Dunne – the DDDA has now been exposed in the High Court to huge compensation claims. The Seán Dunne/Liam Carroll debacle looks set to cost the taxpayer hundreds of millions. As Carroll’s €200m north quay scheme has been rendered null and void and could be pulled down, the developer is bound to look to the DDDA, which greenlighted the project, to bail him out. To date, approximately €83m has been spent on the development. Seán Dunne, too, will be looking for massive compensation.
"PS: Google is still paying rent to Zoe Developments inside the 'docklands' but guess who pays for the Developer Autocracy chief's payoff. "Developers"? Or hospital operating theatres in Crumlin?"
Um, developers - the DDDA doesn't get any state funding. Was that a trick question?
DDDA is a Quango - a firewall between FF and developers.
DDDA's lucrative early retirement "pensions" will be funded by taxpayers.
DDDA's reckless losses will be funded by taxpayers, not by their conflict-of-interest partners, the 'developers'.
This has already shut operating theatres in Crumlin's childrens hospital.
NAMA is one of the vehicles for saving developers.
Ref: IGB Site (€450,000,000), 'illegal' Anglo-Irish bank HQ (> €100,000,000 ), etc.
if the DDDA doesnt take any state funding (see an bord snip nua report) and has operated on a nil cost basis for over 10 years what is the issue. There is more to the DDDA than property developers
DDDA's lucrative early retirement "pensions" will be funded by taxpayers.
DDDA's reckless losses will be funded by taxpayers, not by their conflict-of-interest partners, the 'developers'.
This has already shut operating theatres in Crumlin's childrens hospital.
Much as you might like that to be true, I'm afraid it's not. The DDDA does not get any state funding, for pensions or anything else.
DDDA has broken its committment to the Oirechtas and is afraid to produce its accounts, so what is it hiding?
How big is the hole?
Is €100 million a good guess for the direct losses of DDDA?
Who besides taxpayers will pay for this?
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What are the indirect losses from working with Anglo? [Catalysing a national mania diverting all national resources into pouring concrete instead of say bio-tech IP]
Who besides taxpayers will pay for this?
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The authority’s then chief executive, Paul Maloney (who resigned on Tuesday night), promised the Oireachtas Committee on Environment last February to publish the accounts by the end of June “at the latest”.
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