Economy – Page 67 – Slugger O'Toole

“There is a difference between being friendly and being open..”

Pete Baker on May 13, 2008, 3:11 pm

| Readers 1

In the Irish Times, Quentin Fottrell, has some thoughts on the verbal innuendo and private sparring at the recent US investment conference..[subs req] and those questions and answers at the press conference in particular. And what about Paisley, who said that he’ll miss “the rough and tumble” of government? Paisley said he and McGuinness try ironing out their differences in private, and that the political situation wasn’t perfect or entirely democratic. I guess that’s what happens when you have no …

“We had no idea this was coming..”

Pete Baker on May 11, 2008, 1:00 am

| Readers 1

The Irish Times’ Dan Keenan, naturally enough, was at the Belfast launch of Deaglan de Bréadún’s book ‘The Far Side of Revenge’ and he managed to get NI Executive Junior Minister Jeffrey Donaldson’s response to the Prime Minister’s ‘pressie’. I’ve put that quote below the fold because, more importantly, the NI Department of Finance also issued a statement to the Irish Times. [subs req] A statement issued by Peter Robinson’s finance department said: “The executive has already set an extremely …

Quick.. Look busy!

Pete Baker on May 10, 2008, 12:15 am

| Readers 2

There was an interesting piece of information included at the start of UTV Live’s report [5min 50s in] on the final day of the US Investment Conference – the scheduled press conference this morning was cancelled. Apparently, after yesterday’s media blitz, they had nothing left to say. Just as well Gordon Brown, Brian Cowen and Michael Bloomberg were all here yesterday then.. Pete Baker

Conditions.. and investments – Redux

Pete Baker on May 9, 2008, 1:46 am

| Readers 2

Mick mentioned the Hearts and Minds interview with New York City Comptroller, William Thompson. He opens by futuring on the Investment Conference, but his position on the MacBride principles [3min 40s in] and the Emerald Fund are worth comparing to his previously stated position – noted here. Whereas he had said, of projects selected by the Emerald Fund, “I think that they understand that we are still committed to the MacBride Principles and I think that they’ll make that clear …

“not perfect and not wholly democratic..”

Pete Baker on May 8, 2008, 10:36 pm

| Readers 8

The press conference following the events in Belfast today, live-streamed online at the time, was very interesting viewing. The politicians’ set-pieces are still online here. The BBC’s Mark Devenport picks up on the potential problem with Gordon Brown’s ‘pressie’ The Prime Minister did bring one pressie – telling the Executive they could keep the proceeds from sales of their assets to the tune of £2.2 billion. That’s double the current figure. But is this an enormously generous gesture or an …

“made it clear that you are open to foreign investment..”

Pete Baker on May 8, 2008, 3:18 pm

| Readers 3

On the anniversary of the devolution of our “experimental form of government”, the new Taoiseach, Brian Cowen, flies into Belfast on his first official public engagement. He’ll meet beleaguered Prime Minister Gordon Brown for lunch and then on to the Assembly to talk to delegates from the investment conference. They’ve already seen video messages from EU President Jose Manuel Barroso and from out-going US President George Bush. In his message [George Bush] said: “Free market policies have been proven effective …

“new taoiseach’s in-tray is heavy with problems..”

Pete Baker on May 7, 2008, 4:45 pm

| Readers 4

Out-going Taoiseach Bertie Ahern’s final public engagement wasn’t at the Boyne yesterday, it was at Arbour Hill today where, as RTÉ reports, “along with President Mary McAleese, he attended the national commemoration for the leaders of the 1916 Rising” – More here. The new leader of Fianna Fáil, Brian Cowen, is to be confirmed as the next Taoiseach later today and, while some focus may be on a limited reshuffle of the cabinet, the Irish Examiner’s Paul O’Brien sets out …

“transferring non-core services to the private sector..”

Pete Baker on April 30, 2008, 8:51 pm

| Readers 6

Northern Ireland’s current Finance Minister, and expected next First Minister, the DUP’s Peter Robinson, asked Gordon Brown about the second Varney Review [of competitiveness], to follow his previous review of taxation, during Prime Minister’s Questions today and called for the UK government’s response in time for the upcoming US investment conference. As RTÉ reports that review has been published. NI Secretary of State Shaun Woodward has welcomed the “roadmap to prosperity” and the review itself is available here. PDF file …

South is a proxy not substitute for NI’s own market penetration…

Mick Fealty on April 28, 2008, 6:19 pm

| Readers 2

OUr politicians having recently cleared the burden of having to seek renewed democratic mandates for a further three years have a breathing space to make something happen in the economic space. The financial conference next month is thought to be much smaller than that originally planned (credit crunch is taking up most of the US’s intellectual slack just now), but it could be seen as an opportunity to begin conversations that might lead to some important new relationships. But before …

Conditions.. and investments..

Pete Baker on April 18, 2008, 3:42 pm

| Readers 5

As BBC NI political editor, Mark Devenport, indicates on his blog, the New York City comptroller, William Thompson, has indicated that he has some expectations of projects selected by the Emerald Fund – “I think that they understand that we are still committed to the MacBride Principles and I think that they’ll make that clear to anybody they’re going to do business with.” Presumably those 9 principles will also apply to projects in the Republic of Ireland and in the …

North and south reset their political clocks

Mick Fealty on April 15, 2008, 5:50 pm

| Readers 1

It may be mid June before Peter Robinson is safely ensconced in the Office of the First Minister. Brian Cowen will have his feet firmly under the table by then. But despite some speculation to the contrary, and personalities that seem remarkably divergent in character – as the Independent puts it – “Robinson (59) – koi fish collector and golfer; and Cowen (48) – pub singer and Offaly GAA supporter” – the most important convergences between the two men are …

“which could prove controversial..”

Pete Baker on April 11, 2008, 5:07 pm

| Readers 9

The BBC report on the expected announcement, by the New York City Comptroller William Thompson, of the setting up of an investment fund based in the US and in Belfast, notes that the “details are still under wraps”. Those details seem to include the amount, which varies from “more than $100m” in the BBC report, up to to $150m investment in the RTÉ report. The Irish Times notes that the NY City Pension Funds “may consider further investment, possibly up …

Northern Ireland’s vulnerability to sub prime…

Mick Fealty on April 4, 2008, 10:19 pm

| Readers 1

George Bridge’s article on the regional vulnerability of the UK housing market to the vagaries of the credit crunch and how that it is likely to play into the hands of the Tories over the next few years. Ominously, in a regional of Norhtern Ireland, the risk seems to run from medium to high risk. According to a follow-up in today’s Daily Mail, Gerry Adams’ west Belfast constituency is the tenth most vulnerable in the UK (with 59.4% of households …

Tidal turbine for Strangford Lough

Pete Baker on April 1, 2008, 5:34 pm

| Readers 31

A world first for Northern Ireland [Adds Apparently that depends on the definition of ‘commercial scale’]. The SeaGen tidal energy converter is the world’s first commercial scale tidal turbine and it’s being installed in Strangford Lough. Tom Rafterty has more here, although it’s worth pointing out that Marine Current Turbines have a number of corporate shareholders and strategic partners – company background here. Channel 4 report here, UTV has some video reports, and the Guardian’s coverage is here. Additionally, as …

“about to embark on what amounts to a lap of honour..”

Pete Baker on March 30, 2008, 8:48 pm

| Readers 14

Interesting to note that, according to this RTÉ report, Northern Ireland First Minister, the DUP’s Ian Paisley, will be otherwise engaged when some, but not all, of those involved at the time memorialise the 1998 Agreement. The report doesn’t mention whether any other NI Executive ministers will be accompanying the “businessman of God..” From the RTÉ report Dr Paisley is about to embark on what amounts to a lap of honour before he steps down as First Minister and DUP …

Council begins demolition of vested homes

Pete Baker on March 14, 2008, 4:51 pm

| Readers 6

Derry City Council had been threatening to forcibly evict residents in houses in land around the City of Derry Airport vested to the Council by the Northern Ireland Regional Development minister, but the BBC reports that, two weeks after the deadline, while two houses are being demolished, some residents remain. From the BBC report Contractors are knocking down two of the 17 homes vested by Derry City Council last year. Their former owners have already moved, but other residents have …

The benefits of ministerial travel..

Pete Baker on March 12, 2008, 5:24 pm

| Readers 3

Taoiseach Bertie Ahern has defended the global travels of Irish government ministers for St Patrick’s Day celebrations as RTÉ News revealed the cost of last year’s trips. Meanwhile, here, the Northern Ireland Department of Culture Arts and Leisure have announced that NI Culture minister, Edwin Poots – the Executive’s only young-Earther? – is currently on a visit to Tennessee and Texas, “build[ing] more meaningful links with Ulster-Scots communities.” He will also be attending the South by South West Music Festival …

Timing, eh?

Pete Baker on March 11, 2008, 3:34 pm

| Readers 0

Mick noted previously Garret Fitzgerald’s article on missed economic opportunities, and warnings about undermining US investors’ confidence, but as the report on the Irish Times frontpage today suggests those potential investors have much more pressing concerns at home. [no subs req] TAOISEACH BERTIE Ahern has warned of a “hard year” ahead for the Irish economy in his most downbeat assessment to date of the repercussions of the sharp economic downturn in the US. Mr Ahern said a huge range of …

Stormont ‘tit for tat’ will put off investors…

Mick Fealty on March 10, 2008, 12:29 am

| Readers 4

In the wake of the Mairead Farrell commemoration event at Stormont on Friday, which seems to have drawn all hands on deck (to the point of stretching the party’s full time staffers extremely thinly on Friday), there have been protests and counter protests. The Assembly imposed a ban on filming within Parliament buildings to prevent the proceedings there being filmed and have inadvertently banned BBC cameras from Monday’s Assembly plenary. Gerry Adams has is not impressed: As we work during …

“the development of an integrated society..”

Pete Baker on March 9, 2008, 4:17 pm

| Readers 3

Money may have been “a great balm” in west Belfast but it, or rather the lack of it, looks like scuppering the proposed multi-sports stadium at the Maze prison site. We’ll have to wait to see how accurate the senior sources within the DUP quoted in the UTV report actually are, but for now it’s worth noting the comments Senior sources within Stormont`s largest party, the Democratic Unionists, have indicated that concerns about the financial feasibility of the project are …