Business Irish

Friday 24 November 2017

O'Connor sails off into the sunset . . . and windfarms

DAN O'Connor, the former chairman of Allied Irish Banks, was in good form yesterday, despite having officially left his job just 24 hours earlier.

He was a conspicuous presence at a well-attended National Offshore Wind Association of Ireland meeting at the Burlington Hotel in Dublin.

The ex-GE executive is one of several blue-chip minority shareholders of Oriel Windfarm which is busy trying to build an €85m development off the Cooley peninsula in Co Louth.

Others include Glen Dimplex founder Martin Naughton and the Grafton Group's Colm O'Nuallain.

While Mr O'Connor appeared to be his usual cheerful self, his former colleague Colm Doherty -- who also parted ways with Allied Irish on Wednesday -- was left to pop into the Financial Regulator earlier in the week, where the ex-chief executive was spotted looking somewhat less than cheerful.

Kenmare shindig

THE annual shindig for economists begins in Kenmare this evening, with many interesting contributions planned. The most interesting is likely to be the one from Finance Minister Brian Lenihan. He is due to give a two-hour speech tomorrow evening, which is widely expected to take a swipe at the dismal science.

Should be fun.

Taxing matters

PERHAPS there are reasons to be cheerful. The Department of Finance certainly thinks so and sent out a press release earlier this week to celebrate the signing of a double-taxation agreement with Montenegro.

This momentous event means that we now have 60 such agreements in place.

According to the press release: "Double-taxation agreements are also key instruments for developing and strengthening economic and trade relations between countries. They reduce tax impediments that might otherwise deter the development of bilateral trading and investment activities."

Now all we have to do is solve the fiscal and banking crisis and we'll be fine.

Flights of fancy

CAN Ryanair dish it out but not take it? A disgruntled passenger who set up the website -- dedicated to criticising Ryanair -- has been ordered to hand over the domain name to the budget airline.

A tribunal in the UK ordered Robert Tyler to stop using the web address because it earned him money through commercial links to third party websites.

Mr Tyler established the site in February 2007 to publish "horror stories" about Ryanair. The tribunal was not asked to rule whether the airline has ever used other people's names for gain.

Irish Independent

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