EBS's billionaire bidder has already given it a new name
Published 26/11/2010 | 05:00
FAMED billionaire investor Wilbur Ross, the glamorous third pillar of the Cardinal partnership that's bidding for EBS, made a valiant effort to ingratiate himself with the Irish establishment this week but could do with a touch more local knowledge.
Appearing on Bloomberg TV, Mr Ross heaped praise on the Government's efforts to deal with the crisis and insisted Ireland would "turn around" and become a "safe, strong country" once again once the present turmoil blew over.
The most tangible demonstration of this? "We are one of the two finalists bidding for a bank there, the 'Educational Bank for Savings'". Better known to readers as the Educational Building Society.
WHILE the country and Government came close to collapse this week, Trade Minister Billy Kelleher has been left to get on with day-to-day government business.
Minister Kelleher, who is leading a trade mission in sunny Brazil, was in University College Cork last week to launch a new centre to help graduates with business start-ups.
The centre will host a 12-month course for 10 graduates from any third level institute brave enough to consider setting up a business during the crisis. The programme begins in January and applicants must apply by December 10. Email email@example.com if you're interested.
HEWLETT-Packard's slightly hysterical reaction this week to suggestions that the 12.5pc rate of corporation tax would force the laptop and printer maker to quit Ireland drew a fairly sharp response from other technology companies.
"It's a good place for us to do research and development and we don't make decisions based just on tax," Cisco Systems' European boss Chris Dedicoat told a leadership forum in London.
"To take a decision today to get out of Ireland is a knee-jerk reaction which doesn't demonstrate a lot of strategic thinking," added Nani Beccalli-Falco, chief executive officer of General Electric's international business, who was also at the forum. Ouch.