Poolbeg Housing For Votes Scheme Being Managed.

As soon as all the heat on the Dublin Docklands Developers Autocracy (DDDA) dies down Tammany Hall will be back in business at the Irish Glass Bottle Site.   

As of now the politicians are waiting for the honest NAMA scheme to replace the honest independent DDDA's schemes.  The local boundaries have already been honestly gerrymandered by a totally independent quango, absurdly dividing Sandymount in two. A major benefit for local politicians is the reinforcement of the class division between Ringsend & Sandymount.   The blatant divide & conquer gerrymander facilitates the vote-management by established ward masters. At €500 million of taxpayers money the votes from IGB are a bargain.

DDDAs so-called public consultation process for their developers Poolbeg Plan was a total circus, which they now indirectly admit.  During the consultation circus their brass-necked employees vehemently denied any conflicts of interest.  They also 're-purposed' curiously flawed work from DCC and pulled lots more strokes.  Judge McKechnie condemned DCC's work as "massaged" and "undue influence".  DDDA itself has been judged to have acted illegally ("ultra vires").

--------------------------------

Dockland homes plan put on hold

By Cormac Murphy
Monday April 05 2010

AMBITIOUS plans by Dublin docklands chiefs for a new urban quarter in Poolbeg are on hold.
The scheme, which would have seen 10,000 new homes being built, was to be constructed on lands including the controversial Irish Glass Bottle site.
However, the Dublin Docklands Development Authority (DDDA) is conducting a re-evaluation of the project, delaying it significantly.
The Glass Bottle site was bought in 2006 for €412m by Becbay, a consortium headed by developer Bernard McNamara, who has since been hit by severe financial difficulties.
A neighbouring 12-acre site is owned by Fabrizia Developments, a company run by effectively insolvent developer Liam Carroll.
Labour's Kevin Humphreys, who is a DDDA council member and city councillor, said the entire Poolbeg scheme was "under review".
"I don't think anything is going to happen with that until the land is under one owner (NAMA)," he added.
However, he said the Glass Bottle site is the most likely one to be developed once the economy recovers, given its proximity to the city centre.
The DDDA told the Herald the preparation of the "Draft Poolbeg Planning Scheme and Environmental Impact Statement continued during 2009".
"Following the consultation period, 111 submissions were received which are under consideration," it stated.
It stated: "In light of the 2008 High Court judgment against the authority which inter alia addressed its dual mandate as a development and planning agency, the executive board have commissioned a review of the scheme specifically in regard to the procedure applied in its preparation and the development concept proposed."
As well as the thousands of new homes, the new quarter would have accommodated 16,000 workers in office space.
The proposals would have to be ratified by the Minister for the Environment.
comurphy@herald.ie

- Cormac Murphy

Community Gain For Little People Beside IGB

Community Gain For Little People Beside Irish Glass Bottle Site

The community will gain incinerator air pollution to add to truly massive NAMA-Poolbeg debts, IGB unemployment and deliberate institutional environmental vandalism and eyesore architectural conditioning.

Clanna Gael is an excellent GAA club located directly beside the IGB Glass Bottle site in Ringsend. The club provides genuine benefits to the local community.

Unfortunately the Galway Tent exploits the club - propaganda plaques and signs from the cabal directly responsible for  the €500 million IGB mess are everywhere.  Down the road the King's Shilling of Community Gain is also being hoored-up by the incinerator proposers.  Cynical local politicians smell votes.  Meanwhile parasitic speculators all across Poolbeg are being rescued by NAMA, for the little people's benefit of course.


Bertie formally opened a new club house for Clanna Gael a few years ago. The plaque says so.  So did the photo-ops.  In honour of Bertie's usage of the language, DDDA erected large signs proclaiming the repurbishment [sic] of the pitches and then went on with others to dump €500 million of the people's money into a hole in the ground directly over the GAA club's fence.

Invisible pollution in this area already exceeds safe levels.  Dublin Council's planned incinerator will increase air pollution at the GAA pitches - causing problems a few years or even decades later for the footballers and the hurlers. The most deadly pollution particles (PM0.1) are not monitored by EPA; the law does not force this measurement. 

Actual Community Gain: Twelve-Times Death Risk. 

Is it good to play vigorous sports at Clanna Gael?  The entrance to Clanna Gael is on Sean Moore Road.  Instruments near Sean Moore Road recorded dangerously high air pollution levels in March 2010, and have been doing so for a long time.  Compared to Tallaght it's twelve times more likely anyone breathing this air will have a heart attack or stroke, at some unknowable time in the future.  Alzheimers risk also increases.  The micro and nano particles from the air enter the bloodstream and travel to the brain where they may enter brain cells.  One particle could be enough.  Nobody knows.

EPA's simple instruments only weigh the less dangerous micro-particles; they do not count the number of very dangerous nano-particles.  Any observable damage occurs years later.  Nano-particles come from 'green' diesel cars and from incinerators.  An incinerator will increase the pollution and thus the health risks.  Removing diesel vehicles from the streets is not practical for the city.  But an incinerator is an unnecessary choice. 

So why did Dublin Council choose this polluted location for its proposed incinerator?  Did they consult the old financial regulator?  Or was the philistine scheme ordered from the galway tent? 

Irish Glass Bottle Transactions beside GAA Club:

• Buyer of IGB Site:  DDDA Autocracy, and friends.
• Seller of IGB Site/Lease:  Dublin Port Company.
• Private Companies benefiting: Ardagh Glass, South Wharf.
• Financier: Anglo-Irish Bank & AIB.
• Planning Permission: DDDA Planning Repurbishment Projects Division of Anglo Irish Bank.

Once upon a time in November 6, 1998 The Phoenix reported Mr Paul Coulson's Irish Glass Bottle factory was under threat from a massive new glass factory opened by Mr Sean Quinn in Fermanagh. Solution found: In 2010 the factory became a fine €500 million NAMA asset.

After 1998 many cute wee hoors became involved with Anglo Irish Bank and DDDA.  Manic property speculation was practiced by insiders with inside knowledge and by others.  Then the Irish national bankruptcy happened.

In 2009 Australia's government used the IGB fiasco to lure skilled workers to the penal colony.

Near 2010's April Fools Day the new financial regulator put Mr Quinn's insurance company into administration (similar to 'Chapter 11') as it seemed the insurance company's reserves were moving into Anglo territory.  In 2008 Mr Quinn personally lost at least one billion Euro trying to save Anglo in a then secret deal involving ten special people.  In the past, billions were parked in Anglo by PTSB to repurbish Anglo's books.

Now in 2010 Anglo claims Quinn Insurance owes Anglo €3 billion and Anglo may buy Quinn insurance to save it.  One bankrupt saving another bankrupt?  This could be an April Fools Day joke or a farce or reality.  How would any outsider know? Based on past information-withholding, Anglo's accounts can certainly not be trusted.

Bertie's buddy was appointed by Bertie to be boss of Dublin Port Company.  Was this before the IGB site or its lease was traded to DDDA and the Becbay speculators.  IGB provided the Cooler, trading as Ardagh Glass a share of a few hundred million before he moved to Lausanne. Finance Minister Cowen correctly signed the necessary paperwork for DDDAs investment.  Dublin Port Company gained about €100 million for its pension fund.  Dublin Port Company is owned by the state of the Republic of Ireland.  DDDA is also owned by the state.

Legally the Port Company is supposed to restrict its work to Port Activities only.  That would be ships and containers and jobs for dockers.  The Port Company is allowing land contiguous with Dublin Bay's special area of nature protection to be used for incinerator construction, without environmental due diligence.  The faceless men and women have already destroyed an established nature habitat for protected wildlife.  

Repurbishing Guano Onto The DDDA's Projects

Cutting off the fresh water supply for Brent Geese is payback.  After all the Brent Geese have been repurbishing guano all over DDDA's repurbished pitches.



____________
Repurbishment:  1. The massaging of reports with the goal of obtaining a predetermined result; 2.the exercise of undue influence in public consultation circuses supposed to be conducted in the public interest; 3. shijting on the public;  4. shijting on the DDDA. 

Irish People Skinned Again at IGB.

Community Gain For Billionaire Speculators Starts at Irish Glass Bottle Site.

From our Monkey, one of the whistleblowers inside DDDA Developers Autocracy.   Securely Skyping from NAMA HQ, rented from a treasured Property Speculator. 

• Skinning 1940-70s:  Philistines bury Sandymount Strand bordering Ringsend-Irishtown-Sandymount villages under City Refuse Dump.
• Skinning 1940s: Privately owned Irish Glass Bottle factory leased on public territory.
• Skinning 2007: Glass Bottle Recycling Factory closed.  400 Fired.

• Skinning 2007: IGB Site Lease: Private Investor gains €100s-millions from lease 'loophole' allegedly left open by a minister.
• Skinning 2007-09: DDDA & Others dump €500 million into toxic IGB city dump site.
• Skinning 2008-10: Poolbeg Planning Scam - DDDA bid to literally      dictate €5 Billion of no-appeal Poolbeg Planning .                               

• Skinning 2007-2009: DCC's undue influence in a Poolbeg public planning process (Judge McKechnie).
• Skinning 2010:  DDDA/Poolbeg schemes add €500 Million to €2 Billion to national debt.
• Skinning 2010: NAMA launched at IGB site.   

Unlike our respected Finance Ministers, Mr Cowen and Mr Lenihan - both trained lawyers as is respected Willie - our Monkey does not have legal training.  So his report could be true, being based on gut-feel accounting fundamentals.  Long ago our Monkey correctly reported that taxpayers would be skinned at IGB by NAMA.  So now the deal has been done, on the back of a conveniently rotting banana skin.  Because of toxic pollution the IGB site has a negative value of say minus €50 million.  This is as good a reason as any for NAMA to acquire the toxic IGB site for its clients with taxpayers cash. 

When DDDA moves offices from the respectable Southside back to the Northside, where they came from, no documents will be lost or misfiled.  Nevertheless the good governance of SPV accounting could disguise the €500 million already dumped into the IGB hole in the ground as 87% of any number you like. Grab a banana from the DDDA tree.  Weigh it.  Apply 87%. 

SOLD TO TAXPAYER FOOLS

NAMA's Real Clients are Banks & Developers.

NAMA may state its clients are the taxpayers and the residents of Ireland.  However in reality NAMAs clients seem to be the property speculators and the fraudulent Inselaffe galway tent bankers -all funded by the taxpayers of Ireland.  In March 2010 NAMA seems to have said that it is acquiring bad property loans from its "clients" - some truth released in a faux pas.  With Lear Jets on permanent standby some NAMA clients recently moved to reside outside the legal jurisdiction of Ireland to Paris, London, Lausanne, Cape Cod, China.   Note that 'Client' is language as used by the priesthood of lawyers. 

NAMAs deal may well be "Community Gain" for billionaire property speculators.  Nevertheless taxpayers will break even after one or two hundred years, using nominal-Euro accounting tricks: Special Purpose Vehicle scams pioneered by Enron.

People are already googling for jobs in the waste-to-toxins incinerator, a neighbour 400 metres from the toxic IGB flats.  Councillors and TDs will buy votes in exchange for flats built in the toxic site and jobs in the incinerator.  By then the Galway Tent will have moved back to Tammany Hall.   Job well done.

________________
Disclosure:
Our Monkey is not a formally accepted legal professional, unlike former Finance Ministers Mr Cowen and current Finance Minister Mr Lenihan.  So the monkey's reporting could be totally true, massaged or not.  The monkey's understanding of finance fundamentals is strong - he knows his banana-coupons from his orange-coupons.  His financial-gut tell's him you don't directly compare Sterling mortgage rates to Euro rates, even though the Finance Minister does.

Our Monkey was amazed that property-supplement-funded Irish Times never ran a robust investigation into IGB before the scamming burst.

Our Monkey congratulates surprise 06:00 hours police raids, with government broadcaster crews in tow, on client houses for Commodore 64s.  All this only two years after €8 billion was parked from PTSB into Anglo designed to massage the books and the share price, without informing investors in New York ADRs, allegedly. 

Totally Useless Things Concerning Inselaffe Culture:  Our Monkey notes that Quinn Group has a glass factory competitor to IGB outside the jurisdiction to which recycled glass could be exported, without air-miles.  The Monkey claims Quinn related investors tried to buy shares in Anglo and has a €1 Billion accident.  The Monkey further claims that the replacement Financial Regulator put Quinn Insurance into administration close to April Fools Day.  Now Anglo Irish Bank is looking for circa €3 Billion from Quinn.  Otherwise the taxpayers will be buying an insurance company and a toxic hole in the ground.  The Monkey believes there is no connection between former AIB Chairman/CEO Quinn who sold the AIB Sports Grounds (public good) on Sandymount Strand to a private speculator, Zoe/Fabrizia/Carroll.  One of NAMA's first clients is the ZOE-Carroll Group, suffering a €2 Billion meltdown.  ZOE and megabankrupt Bank-of-Scotland-Ireland shared the same building in Parnell Street, Dublin.  AIB's Quinn is brother to former Finance Minister Quinn who honourably established DDDAs socially justified and honourable predecessor.  Liberties occurred years later on the strands liberties.

============================================================

Glass bottle site given 87% Nama 'haircut'

SIMON CARSWELL, Finance Correspondent

Sat, Apr 03, 2010

THE NATIONAL Asset Management Agency (Nama) has applied a “haircut” of 87 per cent to the loan provided by Anglo Irish Bank to buy the controversial Irish Glass Bottle site in Ringsend, Dublin in a €412 million transaction in 2006.

The loan will be among the first tranche of €10 billion in assets moving to Nama from the State-owned bank next weekend. Anglo and Nama had no comment to make the haircut or the transfer.

The discount reflects the collapse in the value of the property, which was written down to €50 million by the Dublin Docklands Development Authority (DDDA) – a drop of 88 per cent in value.

Anglo and Allied Irish Banks provided a €288 million loan to fund the purchase of the site, which involved developer Bernard McNamara, financier Derek Quinlan, the DDDA and private investors of Davy stockbrokers.

One of the three draft internal reports into the DDDA, which were recently disclosed, reduced the value of the authority’s 26 per cent share in the site to zero.

The discount on Anglo’s loan contributed to Nama applying a 50 per cent overall discount on its first loans being moved into Nama.

The bank reported a loss of €12.7 billion for the 15 months to the end of December this week after writing off €15.1 billion in bad loans, including €10.1 billion on loans moving into Nama.

The Government has injected €12.3 billion into Anglo to replenish its reserves after the losses wiped out its capital base.

The bank has said that it may need a further €10 billion and possibly more to cover a higher-than-expected average haircut on the loans moving into Nama as well as losses on non-Nama loans and to meet the new higher capital rules.

Nama said yesterday it had completed the transfer of the first loans from Bank of Ireland, buying assets with a face value of €1.93 billion for €1.26 billion, representing a discount of 35 per cent.

“The agency expects to complete the transfer of the remaining loans from all five institutions by the end of the year and no later than end February 2011, the deadline set by the EU Commission,” Nama said in a statement.

The agency has now bought loans with a face value of €2.74 billion from three financial institutions – €1.93 billion from Bank of Ireland, €670 million from Irish Nationwide building society and €140 million from EBS building society. The agency has applied a 37 per cent discount against the EBS loans and a 58 per cent haircut to Irish Nationwide’s.

Nama will acquire the first loans from AIB over this weekend, buying loans with a face value of €3.3 billion for €1.9 billion, representing a haircut of 43 per cent. Anglo will transfer some €10 billion in loans for €5 billion.

Some €16 billion in loans are being transferred to Nama in the first tranche for €8.5 billion, representing an average haircut of 47 per cent across the institutions.

The State effectively took control of Irish Nationwide this week with the injection of €100 million in return for special investment shares in the building society.

EBS is expected to find out over the coming week about when the institution will receive its special investment shares. However, the building society last week received a waiver, allowing EBS to fall below the threshold which dictates the minimum amount of capital that a lender must hold in reserve.

EBS has the derogation from the regulator until May 31st, allowing it to hold less than the minimum core tier 1 capital ratio – a measure of loss-absorbing reserves at a lender – of 4 per cent.

© 2010 The Irish Times

McNama Meets Russian Mafia

Totally unproven sources and honest 'non-national' shoe-polishers say Ireland's McNama is meeting Russian Mafia debt holders south of Malaga at Benalmadena in the 5 star.

The Stalin-Hitler screwed Poles have sold their debts for McNama Windows 2007 P.O.S. to the Russians. 

The Russian Mafia  already uses Chelsea Football Club for good spin - with buddy Putin the Chelsea Crew has already murdered all managers in the Russian aluminium industry (about 150 heads).   Paddy developers and extractors of taxpayer cash need to be aware of Russian methods.  After Alaska the Russians are not to be fooled with by Gormleys and Biffos and buyers of windows from Poland on credit.

____

Irish media reports a local Poolbeg-Irish-ShrewsBuriedRoad €2 Billion bankrupt is in Malaga.  The mafia mixed all the concrete on The Costa - thats why it's such a paradise.  If true, the speculator is truly a total fool. At least thats the defence before the corruption committee (2095).

Because We Are Worth It.









Toni Orlando Soprano buried Russians in the woods near Covanta's HQ.    Covanta has used total-truth CBRE of Incinerator Hearings truth-fame to front up for a new 300,000 square foot Covanta building in the garden state.  

Mr Quinlan

Quinlan was one of the best-known faces of the property boom, leading investors such as Riverdance pair Moya Doherty and John McColgan into a series of mega deals across the world. In 2004 he famously wiped the eye of Saudi prince AlWaleed bin Talal when he paid €1.1bn to buy the Savoy Hotel Group.



Subsequent deals saw Quinlan-fronted groups buy the €1bn-plus Jury's Inns as well as taking a stake in the controversial €412m Irish Glass Bottlers site in Ringsend.



Quinlan also made enormous personal investments. As the credit markets snapped shut in 2007, he bought a stake in the €1.1bn Citigroup tower in London's Canary Wharf.



Quinlan has put a number of his personal investments on the market in recent months.

Last July, he stepped down as chairman of his investment firm Quinlan Private to concentrate on "private investments".



He then moved with his family to Switzerland.



- Nick Webb
http://www.independent.ie/business/irish/quinlan-considers-sale-of-836419bn-santander-hq-1957889.html
Sunday Independent

Dublin Docklands Authority is Nauseous - Irish Times

Finally The Irish Times has woken up to the DDDA Developers Autocracy.

• DDDA Exploiting Child Rape Report (paraphrased)
  
• DDDA is an example for how NAMA will operate (indirectly stated).

This Irish Times article mentions DDDA's nauseous tactic of exploiting The Child Rape Report to hide its fully truthful 2008 accounts. 

Cartoon (C) Steve Bell, The Guardian. 2006

This view agrees with many articles posted here, including the view that DDDA errors or scams will be repeated by NAMA on an even more massive scale.

Irish Times Views:

• The decision to publish the DDDA accounts on the same day as the Murphy report into the Catholic Church’s cover-up of child abuse in Dublin was released only adds to the cynicism.

• Ministers were so incompetent, naive or "whatever"  (Does the author mean wholesale fraud?  'Were' or 'are' ?)

• The Government is shortly to announce the membership of the board of Nama. If they are not up to the job, the consequences for Ireland are potentially cataclysmic.

Honourable mentions include:

• Howlin 
• Dempsey  
• Martin Cullen, 
• Dick Roche
• John Gormley   
• FitzPatrick
• Bradshaw

____________

Docklands disaster serves as warning on Nama

Mon, Nov 30, 2009

BUSINESS OPINION: Having two Anglo Irish directors on the docklands authority board was a big mistake, writes JOHN McMANUS

IT’S A measure of how conditioned we’ve become to failure and incompetence in public life that the revelation by the Dublin Docklands Development Authority (DDDA) that it has blown €213 million of taxpayers’ money is met in the most part by weary shrugs and eye-rolling.

The decision to publish the DDDA accounts on the same day as the Murphy report into the Catholic Church’s cover-up of child abuse in Dublin was released only adds to the cynicism.

Some might argue it is the only clever thing the Government has done with respect to the authority in years. But of course it’s not really clever, it’s just nauseating.

When confronted with the enormity of the disaster that is the authority, the impulse is to start calling for a public inquiry and to send in the Director of Corporate Enforcement.

There would doubtless be much for the director or any other investigator to ponder at the authority.

First and foremost is the way in which the organisation became involved in the Glass Bottle Site deal and is now being set up to be the patsy for the whole thing. It has gone from being some sort of junior partner to the prime target of the raft of litigation surrounding the collapse of the billion-euro project.

This leads of course to what is arguably the bigger scandal: how the authority was granted and allowed to exercise draconian planning powers without anyone bothering to check if they were legal or at least bullet-proofing them against legal challenge.

Instead, following a successful challenge to one of its rulings, the docklands authority has been found to have been acting outside its powers and facing all sorts of litigation. The only saving grace is that presumably the rights to the litigation will pass to the National Asset Management Agency (Nama), along with the bankrupt developments in question.

But in truth, we probably don’t need an inquiry to tell us what went wrong at the authority, although it would be nice to see the perpetrators of this piece of financial and social vandalism held to account.

We already have an explanation and it’s to be found in the Chinese proverb about the inevitability of getting up with fleas if you lie down with dogs.

With hindsight, what else might you have expected if you put people like Seán FitzPatrick and Lar Bradshaw on the board of a State company with carte blanche to develop some of the State’s most valuable real estate?

It was a gamble to appoint FitzPatrick in particular. He brought with him drive, dealmaking, contacts and, above all, ambition. These are not qualities usually associated with State agencies and held out the prospect of something special happening in the docks.

It is now apparent that the same blind spots and personal failings that caused so much damage to Anglo Irish Bank wreaked havoc at the docklands authority.

If you follow this chain of argument, the real question is, who appointed him and his fellow board members and why?

Step forward the Minister for the Environment and the Government. For the record, Bradshaw was appointed in May 1997 by Brendan Howlin, while FitzPatrick was appointed the following year by Noel Dempsey. FitzPatrick replaced Jim Lacey, who resigned over the scandal at National Irish Bank.

Howlin and Dempsey can argue that it was unreasonable to expect them to see the danger inherent in appointing FitzPatrick.

It’s a fair point, although the truth is that FitzPatrick had the whiff of sulphur about him back then too, but nobody cared because he was so successful.

But even if you cut Howlin and Dempsey some slack over the initial appointments, there is nowhere for Dempsey or his successors – Martin Cullen, Dick Roche and John Gormley – to hide over the appointment by FitzPatrick of Bradshaw to the board of Anglo in 2004 (on Roche’s watch).

The failure of successive Ministers to question the sense of having two Anglo directors on the board of the docklands authority is the crucial mistake. It was the equivalent of handing over the keys to a toyshop to a couple of children.

The error appears to have been compounded by not appointing other directors with the judgment or stature to rein in Bradshaw and FitzPatrick. The failure to address this problem put the authority in a different league from most other State agencies and boards, populated as they are with unqualified placemen and other beneficiaries of political patronage.

There are two broad explanations that can be put on this, neither very palatable. The first is that the Ministers were so incompetent, naive or whatever that they did not see the danger.

The other is that they were alive to the problem, but did nothing for some reason, political expediency being the most likely.

The Government is shortly to announce the membership of the board of Nama. If they are not up to the job, the consequences for Ireland are potentially cataclysmic. They had better do it right this time.

© 2009 The Irish Times

http://www.irishtimes.com/newspaper/finance/2009/1130/1224259710165_pf.html

Attempted Theft of GAA Property by Dublin Docklands Authority?

DDDA's Repurbishment of Sandymount Strand

Friend's Of Bertie Hand Out The Kings Shilling

To be a player with the big boys DDDA tried to ape the behaviours of property speculators.  Nevertheless DDDA's officials still get mocked by Dublin Developers (Harry C.,  RTE, Nov 21, 2009).

DDDA knows you can't just steal a public beach.  First you have to designate it to be a sports field.  Nobody can contest the worthiness of sports fields in socially deprived areas.  Especially not the patriotic property repurbishmenters who move house from Ailesbury Road to Paris with €300 million or to Geneva with €100 million.

Once upon a time AIB curiously came into possession of a formerly public beach in Sandymount which AIB spinmeisters labelled as a 'sports pitch'.  The now bankrupt banksters at AIB 'sold' the sports pitch in 1999 to a now bankrupt property speculator, financed by Ulster Bank.  This now privately owned site on the Sandymount Foreshore is known as 'Fabrizia'.  DDDA's latest chairman used to work for Ulster Bank and apparently this formal relationship has officially stopped.  NAMA has rescued the AIB bank and will rescue a new improved Fabrizia speculator with your tax money (closing hospitals).   Bankrupt DDDA recently transferred millions to the bankrupt developer to 'buy' flats for 'social housing' beside Anglo-Irish banks illegal HQ on the Liffey.

With legalised inducements in place for local councillors and officials the polluted AIB sports field on Sandymount Strand was magically rezoned for shoebox high-rises.  In DDDA's case they can just issue a section-25 planning diktat - councillors who 'support' DDDA can swap social housing for votes.


DDDA is now apparently trying to grab rights to public lands being used by a local GAA Club.  This issue was highlighted at pubic meetings held by Sandymount & Merrion Residents Association in Sandymount in 2008.  DDDA hides its schemes behind a wall of obstructionism, possibly under instructions from the hidden controllers of Anglo-Irish Bank. 



______________

DDDA plan 'interferes' with GAA land

Neil Callanan

http://www.tribune.ie/business/article/2009/nov/22/ddda-plan-interferes-with-gaa-land/

The Dublin Docklands Development Authority (DDDA) has been warned that its draft development plan for the Poolbeg area contains an unfair "attempt to interfere with" a local GAA club's property.

Clanna Gael Fontenoy's pitches border the controversial Irish Glass Bottle (IGB) site which was bought for €412m by the DDDA, property investor Derek Quinlan and developer Bernard McNamara and is now said to be worth just €60m.

The club said: "It is apparent that there are four secondary and one primary pedestrian route proposed over the club's leasehold land. This is an impermissible attempt to interfere with the club's property interests. The club is deeply concerned about such a proposal."

It said the DDDA does not appear to have given "sufficient recognition to the property interests that the club has in the lands" and said it was "noteworthy" that the photograph of Sean Moore Park "has the club's clubhouse airbrushed out and its existence removed and replaced with extensive green foliage".

The club has a 99-year lease on lands at Sean Moore Road from Dublin City Council and also has land measuring more than 2.5 acres alongside the boundary of the IGB site.

"Developers of the lands beside the club… should not be misled into believing that future residents of any proposed development will be able to use the club's playing fields as part of the general green field site," they said.

November 22, 2009

Dublin Docklands Lies

 Dublin Docklands Developers Autocracy's biggest site lies on Sandymount Strand.

The autocracy says it got involved at the €450 million IGB site because members of the local community had urged it to.

- Example of DDDA Bare-Faced 'Spin'. Published Whilst 2008 Accounts Are Being Cooked to Hide Write-off of €450 Million.   

The DDDA autocracy seems to be allowed to hide behind the Feedom of Information act whilst publishing spin about what they are really scheming up.  The DDDA's 2008 accounts would appear to be extremely shady as they have now been cooking for a full eleven months! All with a "Governance Expert" as Chairman in charge of this example of information obstruction!  Credible companies publish truthful accounts two weeks after the quarter closes.

With the same unseen masters it's likely NAMA will operate to the same high governance standards as DDDA: the Special Purpose Vehicle designed to cook the national accounts, Enron-style, is a strong indicator that the Fools & Crooks culture will continue, this time rigging house prices for a generation and emptying little-peoples' pockets to the tune of €99.9 Billion.

 DDDAs IGB Glass Bottle Site Lies On Sandymount Strand

DDDA's shell game on Sandymount Strand at the IGB and Fabrizia sites will directly cost taxpayers hundreds of millions of Euro - shutting hospital wards, cutting medicines, cutting medical personnel pay  - whilst their buddies plan to pollute the environment with the Poolbeg Incinerator, shortening life expectancy across Dublin.

_________________

Docklands deal turns sour

http://www.irishtimes.com/letters/           
Tuesday, November 17, 2009


Docklands deal turns sour

Madam,

In Business This Week(November 6th), in an article headed “Boom-time deal in the docklands turns sour”, it is stated that: “The authority [the DDDA] for its part, says it got involved because members of the local community had urged it to, and that it had acquired the minimum stake that would prevent it being outvoted on key decisions.”

Similar statements appear in the forewords of the Dublin Docklands masterplan and the draft section 25 Poolbeg planning scheme of 2008 signed by Donal O’Connor, as chairman.


As many of your readers will be aware, political constituency boundaries do not necessarily coincide with geographical boundaries. Counties and districts are often split. The IGB and Fabrizia sites lie in the geographical location of Sandymount, being part of the hazardous waste dump created on Sandymount Strand. Members of the Docklands Council were chosen on the basis of political, not geographical, boundaries.

While representatives from adjoining communities and other areas were appointed to the Docklands Council and may or may not have made such a request, we were not at any time, prior to 2008, party to discussions, requests or decisions relating to any part of the area. We most decidedly did not urge the dockland authority to become involved in the acquisition of the IGB site or in Becbay.


In 2008, at meetings of a special interest group set up by the DDDA, we made at least two verbal requests for a copy of the relevant Docklands Council minutes at which, it is claimed, members of the council asked or urged authority members to become involved in Becbay. We have not received it.


Yours, etc,

LORNA KELLY,

Sandymount and Merrion

Residents Association.

Poolbeg Tinkers Curse For Covanta is Bankruptcy?

The Poolbeg Tinkers Curse is Bankruptcy.

Poolbeg Incinerator operator Covanta is highly rated for bankruptcy.

Thinking of building on Poolbeg's sands?  Get a grip.  Companies building in Dublin Bay stand a high chance of The Bay taking revenge on their toxic hubris. 

1. Poolbeg: Zoe Developments -  Bankrupt?
2. Poolbeg: DDDA - Bankrupt?
3. Poolbeg: IGB Investors - Bankrupt?
4. Poolbeg: Incinerator - Covanta rated for Bankruptcy.
5. Quinlan: 'Retired' to Zum Zug country. 

(all of this is pub-talk speculation without any foundation whatsoever, allegedly, not even from the  bribed Financial Regulator of Ireland, allegedly.  Or at least its speculation until DDDA's "parish governance expert" publishes some accounts for 2008.  Even cooked ones would be good at this late stage.)

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[Pub Talk].

Only the Irish bankrupts swallowed by The Poolbeg Tinkers Curse will be saved by passive Irish taxpayers in the NAMA scam.  Leveraged Covanta will have to rely on self-made CEO's named Toni in the local NY and NJ waste and cement industries in their polluted garden state, not one of whom has ever sunk a ship with radioactive waste off Italy. 

[Pope Talk].

Once upon a time in the 1890's the pope in Rome wondered why the Irish were not law abiding like the Germans and obeying their government.  Now in the Celtic Rat era the newly passified Irish are obeying offshore bonds' salesmen, including bonds scammers in London laughing at Paddy Irish taxpayers. 

[Green Talk].

Covanta is highly rated for bankruptcy - even with the awesome anti-competitive contract they signed with Dublin City Council, some of whom existed long enough in the public service game to depart into publicly funded pensions. 

[Fool Talk].

According to The Motley Fool Covanta is one of seven stocks that 'could cause permanent losses of capital'.  

The man om the left in the bin is Mr Zell, major owner of Covanta stock ($666 million worth in 2008).

Covanta has a ridiculous Z-score of just 1.29, very bad news for billionaire Mr Zell, a Covanta investor.  Mr Zell dumped his property portfolio for many billions exactly before the property crash.  


Does he still own Covanta and the Chicago Cubs?  Is he still wrecking the LA Times and The Chicago Tribune in a scenario the journalists refer to as Zell Hell?




Zell Hell is distinct from Cell Hell, a loose term for the process whereby small and invisible particles from an incinerator or other sources enter your cells giving you heart problems, cancer and a premature death.   


A more technical name for the particles is "PM10", "PM 2.5" and "PM1.0".  The science for what these dangerous particles do is here.

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Balance sheet / financial risk: Excessive leverage can force a company into bankruptcy, no matter how sound the underlying business. Investors need to be particularly sensitive to financial risk in an environment that combines a contracting economy and tight credit.
 

The Z-Score is a statistical indicator of bankruptcy risk developed by Edward Altman of NYU. Montier's screen identifies companies with a Z-score below 1.8, the "distressed" range in which companies run a significant risk of bankruptcy.      Example: Covanta.

Caution from legal advisors to Magdalene Laundries & Letterfrack.  
Caution: the 200-day technical average may give a different view on Covanta.

Bankrupt Dublin Docklands Developers Autocracy Bails out Bankrupt Developer ZOE

Bankrupt Bails Out Bankrupt With Taxpayer Cash?

 

 Is Dublin Docklands Developers Autocracy acting as the market-rigging lab rat for NAMA by arranging a €10,900,000 donation to bankrupt ZOE for 51 drug-land flats at Castleforbes Square and Northbank?

Where does bankrupt DDDA get the eleven million from?

 Who Stole The Peoples's Money.  'T WAS HIM.

[Tammany Hall]

 Perhaps honest NAMA will rob taxpayers to give €10.9 million to Anglo-Irish to give to DDDA to give to ZOE to give to Anglo-Irish to give to offshore bond salesmen in Macau to give to Seanie for Seanie's casino partners in Macau, or Ringsend.

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Green-Washed Social Dividend.

DDDA used to provide affordable housing photo-ops for Berty.

Now John The Traitor Gormley is polishing his bicycle clips for the affordable photo-ops.   John has already achieved his 2-year pension dream, a pension higher than that Kenyan non-national in the White People's House.  Three more years gets honest John's pension into bankster territory.

Meanwhile the fired green-party sandal-wearers are afraid to walk around local supermarkets.

The Green traitors are now 'insisting' on a green-washed social dividend from the socialised banks in the capitalist's NAMA scam.

Imagine you were a 2007 fool to whom DDDA sold an "affordable" flat in Dublin for €400,000.  It's now worth less than €125,000.  And next the Greens will use your NAMA money to move in some challenged people to enhance your 'hood.

Or imagine you are a private purchaser who is competing in 2009 to buy the €125,000 flat in Dublin - with DDDA & NAMA rigging the price with taxpayer cash to rig the price to above €210,000 per flat.

ZOE's flats can not be sold to sane people, and it's not just because they are beside Sheriff Street's drugs industry.  Even a gated community with armed response won't protect any private purchasers of ZOE's flats from Anglo-Irish, DDDA, NAMA and grotesque Green Party financial threats and pocket picking for votes.

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The flats are barely a drug needle's distance from the stalled and illegal concrete shell built by ZOE as Anglo-Irish Bank's HQ  - now stalled because DDDA apparently conspired with others to issue illegal or curious planning permits or procedures.  

 Why has DDDA not published its annual accounts for December 31, 2008?  Is it because DDDA is financially, ethically and socially bankrupt?  

DDDA seems to be waiting for NAMA to create "expert valuations" for its financially and chemically toxic €450 toxic hole in the ground at the Irish Glass Bottle Site in Ringsend.  

Ex-DDDA and ex-Anglo Seanie can donate plans from his Macau Casino Caper.  

Conflicts of interest abound: 

• Both DDDA and NAMA directly control planning permission.  
• Both are politically controlled property market speculators 
• or riggers, in a legalised pyramid scheme.  
• Both effectively operate in secret.  

NAMA's corporate objective as effectively stated on TV by Ireland's Finance Minister 
is to rig the Irish property market for decades to keep prices above fair market prices for decades.  DDDA and NAMA will make some people homeless and also keep the country non-competitive by rigging office and home pricing.

Supposedly because of money troubles the bankrupt Dublin Docklands Developers Autocracy (DDDA) recently fired about half its staff, no doubt including governance scapegoats and potential whistle-blowers.  DDDA appears to be bankrupt not just  ethically, but financially - DDDA's annual accounts are withheld to con or misinform the public.

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ZOE operates a few floors of offices in Parnell Street directly below two floors of offices for the rescued mega-bankrupt Bank of Scotland.   Learjet FAS has a huge office across the street.

DDDA Directors, Fools or Crooks? There isn’t anything in between.

‘You have to make a choice. Did you not know what was going on? If you didn’t, you must ask yourself, are you a competent director? And if you did know, you were complicit in recklessness and fraud. So which is it? Because there isn’t anything in between’.

- Comment on Ireland's cronies by Niall Fitzgerald, a former chief executive of Unilever and a 1990s non-executive director of Bank of Ireland.

 

This question applies to all people involved at DDDA and to their masters at Anglo-Irish Bank.  It also applies to The Hierarchy at Dublin City Council's Incinerator Op., EPA, Bord Pleanala and so on.

 

POSTCARD FROM BANAMA REPUBLIC OF POOLBEG

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FINTAN O'TOOLE's article is here.

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DDDA Social Investment Disaster

Call for Dublin Docklands board to state Ringsend losses

http://www.irishtimes.com/newspaper/ireland/2009/0810/1224252313813_pf.html

STEPHEN COLLINS

Mon, Aug 10, 2009

THE DUBLIN Docklands Development Authority (DDDA) should disclose just how much it has lost on its property investment at Ringsend in Dublin, according to Fine Gael spokesman on the Environment, Phil Hogan TD.

He said documents received by Fine Gael showed the DDDA pumped more money into the former Irish Glass Bottle site, located in Minister for the Environment John Gormley’s constituency, as it needed serious and large-scale clean-up work to render it safe and environmentally clean.

“The much-needed social redevelopment of the docklands area is now in danger of falling by the wayside, following a series of ill-judged property investment decisions by the DDDA,” said Mr Hogan.

He added that the documents he had obtained through the Freedom of Information Act showed the authority and its partners had grossly underestimated the scale of remediation work needed at the Ringsend site. As a result, he said, the board of the Dublin Docklands Development authority had to sanction funds to plough into the site that could have been used for much-needed urban regeneration.

“The latest move by the authority’s holding company, Becbay, to apply to the Environmental Protection Agency (EPA), to remove its Integrated Pollution Prevention Control licence (IPPC), also raises the question as to whether or not the necessary remediation work has been completed to a safe standard.

“I recently wrote to the authority’s new chairperson, Prof Niamh Brennan, seeking a response on these issues, including the exact cost to date of the clean-up operation at Ringsend.

“I am also seeking to find out exactly what financial restructuring has taken place within the DDDA to ensure the questionable decisions that have been made are explained and that serious financial mistakes are not repeated,” said Mr Hogan.

© 2009 The Irish Times