I’m sure someone will check out reports in the German media. In the meantime Doherty’s bonanza has been reported in le Figaro in France; lefigaro.fr/flash-eco/2011/0 … patron.php
Basically lifted from the IT article
It also says"
Une somme qui “dépasse l’entendement”
Le principal syndicat du secteur bancaire, l’IBOA, s’est offusqué de cette somme qui “dépasse l’entendement”, selon son secrétaire général Larry Broderick. De son côté, le ministre des Finances Michael Noonan a affirmé que ce paiement était un “héritage” légué par l’ancien gouvernement de Brian Cowen, aux commandes jusqu’au début de l’année, et a assuré que le nouveau gouvernement dirigé par le centriste Enda Kenny allait “faire le ménage” dans ces pratiques.
Translation: Larry Broderick of the IBOA is frothing at the mouth. Noonan says 'Not our fault - the previous government landed un in this S$%t. Inda promises to do some housework regarding these practices.
Is there NO way of prising the money back of this guy and the many other of his ilk?
Still the main story on the Irish Times website now updated with Lenny’s contribution
So Lenny takes credit for limiting this feckless waster’s salary to 500k!!! Again that is 500k. Your such a hero Brian and look he tries to pin the appointment on the public interest directors, what a creep.
So when Bank of Ireland don’t manage to raise the private capital required to keep it out of majority state ownership and Boucher is moved on are we looking at another multi million euro pay off for a failed banker based on the existance of “pre-existing contractual obligations”.
As the saying goes a bird in the hand is worth two in the bush. So best explanation that I can think of is that he reckons there wont be any money left to pay future annuities
Colm’s Dad was the Garda commisioner for a year prior to retirement. I suppose he got a nice pension as well. It must run in the family. Get the top job for a year and get the payoff.
Lots of Gardaí up to their eyes in “property investment”. Still don’t see why they deserve preferential treatment to any other sector, what are they on about? I mean, really.
I’d say that it’s more to do with the fact that the maximum allowable pension fund on retirement was just reduced from over €5.4 million to €2.3 million.
I’d suspect that if he’s on that sort of salary he has a hell of a lot more than 300k in his pension fund and therefore he couldn’t top it up with another €2m.
It made my blood boil this morning to hear Garda complaints about “not being able to pay the bills”. It is 100% certain (…o-n-e … h-u-n-d-r-e-d …p-e-r-c-e-n-t…) that there is not a single garda incpable of meeting bills unless he or she was/is into property speculation (or, in a tiny number of cases, massively over-borrowed on a trophy PPR, which is pretty much the same thing). Such emotive language and such dishonesty make me want to puke.
Well, in fairness that €3m would have gone a long way towards a special training module in Templemore, teaching Gardai the art of switching off a confiscated video recorder in order to avoid incriminating themselves. (Jesus wept, I’ve just realised they’re being let loose with newly, re-calibrated breathalizers later this year! Anyone care to guess the only other English speaking country with Random Breath Testing and alcohol limits of 50mgs?
I am increasingly convinced that an ability to spoof in life is worth hundreds of thousands. The gift of the gab, more than any real competence, is priceless. Someone should write a self-help book on the Art of Spoofing your way into a highly-paid position. Twould make millions.
I am interested in Pinsers views on a “See you in hell” option. I came across this a lot when I worked in the States (particularly in Texas).
What I refer to is if the Govt. clear out the top Bankers or reset the Salaries in the semi states and just say here is the way its gonna be and so sue my lilly white ass if you got a problem with that.
My own sense is that many of the figures feel an entitlement and would try to fight this this nuclear or doomsday option but what could they do?
In terms of reputational damage (US Multinationals etc.), I dont think there would be a lot. Any Cx0 figure would understand this perfectly.
The other option is to go the Examinership route when, as I understand it, contracts wouldnt automatically have to be paid in full (or “made whole” as they used to say in the States)
Your such a hero Brian and look he tries to pin the appointment on the public interest directors, what a creep.
