Business The Punt

Thursday 27 October 2016

The Punt: Mulryan on the up in London

Published 25/05/2015 | 02:30

Chief executive of the Irish Travel Agents Association (ITAA), Pat Dawson
Chief executive of the Irish Travel Agents Association (ITAA), Pat Dawson

The Punt has a confession to make. It loves to read the 'Financial Times' luxury magazine 'How to Spend It'. For those of you not familiar with it, 'How to Spend It' promotes the kind of lifestyle journalists won't be able to afford any time soon. A quick flick through this week's edition shows ads for private jets, yachts and super car races to Monaco, as well as a feature on flying seaplanes over Lake Como. The One Percent probably reads 'How to Spend It' the way most people peruse the Argos catalogue.

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So we were pleasantly surprised to see a feature on the London City Island development in the east end of the UK capital. City Island is being developed by Sean Mulryan's Ballymore Group and Malaysia's Eco World, and perhaps unusually for 'How to Spend It', the apartments being built there seem reasonably priced for London. Prices will start from £300,000 when the development launches this week. The docklands is widely seen as the next big area to be developed in London. The Olympic Stadium kickstarted things, and with it being so close to the trading floors of Canary Wharf, City Island will likely be attractive to the bankers and workers looking for reasonably priced homes in London. City Island is one of a number of developments in the area, with plans proposed for Silvertown and Albert Dock as well. It seems Mr Mulryan's bet on London is paying off.

ECTAA role  for Dawson

The chief executive of the Irish Travel Agents Association (ITAA), Pat Dawson (right), has joined the board of its European counterpart, the ECTAA.

The association is said to be the primary representative of Travel Agents and Tour Operators in the European Union.

The announcement was made at the 111th semi-annual meeting of ECTAA in Budva, Montenegro.

A familiar face in the Irish travel industry, Mr Dawson founded Cork-based travel agency Dawson Travel in 1991. For many years, he served on the ITAA board before being appointed president in 2011. He was then appointed CEO in 2012 and has since held this role.

Speaking about his new appointment, Mr Dawson said: "It's an honour to be appointed to the board of ECTAA, I look forward to representing the needs and interests of Irish travel agents on a larger scale in the EU."

The ECTAA has been around for a while now, starting in 1961.

The Punt extends its congratulations.

The corporate silly season

Yesterday saw the conclusion of the English Premier League football season. Once the Champions' League final is played, that will mean that the football hype machine might slow down for maybe a day or two before it starts again.

One thing that always happens in the last few weeks of the season is that numerous games finish with bizarre results - and they are just dismissed because it's the 'Silly Season'. Yesterday Stoke put six on a listless Liverpool. Last week the champions Chelsea - who have barely conceded a goal all season - lost 3-0 to mid-table West Bromwich Albion.

These kind of results got The Punt thinking: what if there was a corporate silly season? Think about it - perhaps the second quarter could be the least important time of the year for firms. A company could swing to a huge loss from previous profits - and do so without having to endure any consequences.

The analysts could basically ignore the loss and point to the fact that "it's the second quarter and it really doesn't count". Some businesses, of course, are seasonal in nature so earnings can vary wildly from quarter to quarter. The Punt, however, can think of one or two companies that would love to have their own silly season every once in a while.

Irish Independent

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