Published March 8th, 2010 in Other Issues
“The clearest account of [Ireland's] fall from grace comes from Shane Ross, a stockbroker-turned-business journalist, and Senator with a record of exposing corruption.”
The Economist
“Read this super book. Cry, get mad and get even.”
Irish Times
“There aren’t many better at puncturing the pompous world of Irish banking than Ross.”
Sunday Tribune
“Prose that sizzles on the page.”
Irish Examiner
My new book, ‘The Bankers’ is now in shops (retailing for aprox. €15). It tells the inside story of how we went from boom to bust and attempts to make sense of the banking crisis that will haunt Ireland for years to come.
An exclusive extract appeared in the Sunday Independent in November. Continue reading ‘The Bankers’
Published March 7th, 2010 in Other Issues
WELCOME to the third farce in banking. Yes, that appears to be one of the Government’s glib solutions to the banking crisis.
The plan of action is to merge EBS, Irish Nationwide and Irish Life’s banking arm into a third force. Anyone else who wants to join in is welcome.
Continue reading ‘The Third Farce in Banking’
Published February 28th, 2010 in Other Issues
AER Lingus still rules OK? Last Wednesday a basement in the bowels of Leinster House resembled a padded cell for the insane. Michael O’Leary has turned the lunatics in the aviation asylum on their heads.
A man who was shedding no less than 1,100 jobs at the airport descended to the dungeon to confront a man who was promising 300 in the same place. The Oireachtas Transport Committee was hosting the row between O’Leary and Mary Coughlan’s allies in Dublin Airport and Aer Lingus.
Wednesday morning’s news had revealed that Christoph Mueller — of Aer Lingus and Germany — was threatening to make 1,100 employees compulsorily redundant.
On the same day Michael O’Leary — of Mullingar and Ryanair — entered the arena promising 300 jobs.
Continue reading ‘Mary: Muddled or Muzzled?’
Published February 21st, 2010 in Other Issues
MICHAEL O’LEARY is offering Mary Coughlan a simple deal. Give me Hangar 6 and I’ll give you 300 jobs.
More chillingly put: no hangar no jobs.
That is the way he does business. Three arms of the State have joined forces to block him.
While Michael is parading himself on the airwaves, they have despatched their armies of spin doctors to undermine him. None has the neck to confront him head on, so they are whispering behind his back. They are muttering that O’Leary is a showman. Which he is. That he is exploiting the airwaves to promote his cause. Which he is. That he is making mischief. Nobody does it better. And more wickedly, that he is not genuine about his jobs offer. Which he is.
Continue reading ‘Mary and the Little Tramp’
Published February 14th, 2010 in Other Issues
SHED no tears for the Halifax Bank of Scotland; but say a prayer for the 750 people that the retreating bankers are dumping on Ireland’s dole queues.
Far from increasing competition in the Irish market the Scottish invaders have spread contagion around Ireland over the last decade. They are exiting a scorched earth, partly of their own creation.
Continue reading ‘Good Riddance to Invaders’
Published February 7th, 2010 in Other Issues
DID you ever surrender your savings or pension fund to the tender mercies of Goodbody stockbrokers? Or, for that matter, to any stockbroker?
Goodbody is owned lock, stock and barrel by the mighty, but deeply troubled AIB.
Continue reading ‘Goodbody Takes a Bath in AIB’
Published January 31st, 2010 in Other Issues
SHOULD small business take to the streets? As public service unions gear up to damage the economy, small business — the backbone of Ireland — is being bled dry by the banks.
Credit is dead. Healthy outfits are being driven to the wall by the bucketful. Public servants have trade unions to bellyache for them. Small businesses have the seats of their pants, brass neck and hot sweat. Their oxygen is credit. But the oxygen ran out on September 30, 2008.
Continue reading ‘SFA No Small-Firm Saviour’
Published January 24th, 2010 in Other Issues
AS I arrive at RTE’s hospitality room for the Frontline programme, there are only two people present. Pat Kenny offers the usual polite greeting while there is a freeze from the other man in the room. His face, or the small part of it that the world ever sees, looks familiar.
Pat’s companion bears a bushy beard. I recognise it. It has appeared in this column more than any other beard on God’s earth.
I blink and grasp the hand of Siptu boss Jack O’Connor, muttering gratefully that “we have never met”.
Continue reading ‘CIE Could Constipate an Actuary’
Published January 17th, 2010 in Other Issues
PATRICK Honohan has made a dream start as governor of the Central Bank. He is already gloriously offside with the Government, his patrons. Brownie points for Patrick.
Brian Cowen must be spitting blood at the governor’s call for an inquiry into what went wrong in the banks. Brian Lenihan’s protegee had poked the Taoiseach in the eye. Initially, Cowen politely rubbished the governor’s idea but it has gained legs galore as every day passes.
Patrick has begun a bit of a bandwagon.
It is probably slightly embarrassing for Patrick that all the opposition parties have joined his crusade. His demand for an inquiry has been politicised.
Continue reading ‘Let Patrick Lead the Probe’
Published January 10th, 2010 in Other Issues
BRIAN Lenihan was born to be Taoiseach. No, nothing to do with his pedigree. Lineage once gave you a leg up in Irish politics, but no more.
Of course, the finance minister is blessed with tribal bonds unequalled in Fianna Fail. Of course, his father Brian senior and grandfather Paddy were party icons. Of course, his aunt Mary O’Rourke is a priceless ally in Leinster House. And of course, his brother, Conor, is a minister of state.
Young Brian inherited a political birthright. His path to the Dail’s backbenches was a doddle.
After that, he was dependent on his wits; wits which soon revealed him as the brightest Lenihan ever to pass through the Kildare Street gates.
Continue reading ‘Taoiseach in all but name’
