Saturday 18 November 2017

Clare FM and Tipp FM join up to cut costs

CLARE FM and Tipp FM are to join up in a move that is hoped to deliver cost savings and "enhance quality of service at the stations".

They will share costs in non-broadcasting areas, enabling them to reduce overheads and protect employment. They will remain independent and retain their individual licences for their respective counties. Clare FM managing director Liam O'Shea will take over as CEO of both stations, while Tipp FM boss Ethel Power will leave to establish her own consultancy.

Receiver appointed to property firms

PROPERTY

DANSKE Bank has appointed a receiver to two property firms that Bernard McNamara resigned from as a director last year. It has appointed Declan McDonald of PwC as receiver to Dublin-based Mazarone Ltd. Its most recent accounts show bank debts totalling €47.8m and a loss of more than €380,000 last year. The other directors are listed as Mr McNamara's business partner and hotelier, Jerry O'Reilly, David Courtney and Eamon Shields. Danske Bank has also appointed Mr McDonald as receiver to another firm, Brettar Ltd, where Mr O'Reilly is a director. The latest accounts show that Brettar had bank loans totalling €9m with accumulated losses of €8m at the end of March last.

Aran ferry operator wins fees damages

COURTS

THE High Court has awarded an Aran Islands ferry operator €92,000 damages over harbour fees that should not have been imposed on the company -- which had one of its boats seized and impounded for almost 50 days. The award was made to Island Ferries Teoranta, which last year won its High Court challenge against new and increased charges introduced in 2005 for the use by the firm's vessels of Rossaveel Harbour, Co Galway.

Zuckerberg names woman director

SOCIAL MEDIA

FACEBOOK, facing criticism for a lack of diversity on its board, appointed chief operating officer Sheryl Sandberg as its first female director. "Sheryl has been my partner in running Facebook," chief executive officer Mark Zuckerberg said. "Her understanding of our mission makes her a natural fit for our board."

Irish Independent

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