hutton

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  • in reply to: Dublin’s Ugliest Building #713291
    hutton
    Participant

    Just as a point of information, the new Cork street isn’t a dual-carraigeway as it has no central median, but is instead a primary distributor road.

    The fact that it is being discussed on here as such is indicative as to the destructive anti-pedestrian treatment delivered by DCC’s Roads and Traffic Dept.

    DCC’s R&T dept have succeeded in making a new inner-city street feel like a bad old-style DC relief road – quite an accomplishment!

    Michael Philips, where are you? 😡

    in reply to: Liffey Cable Cars – Pointless Gimmick or…. #766829
    hutton
    Participant

    @hutton wrote:

    Cash in place for liffey cable car

    By Cormac Murphy

    Friday July 10 2009

    THE COMPANY behind the Liffey cable car proposal has the money in place to fund the project, it has been revealed.

    Despite the difficult economic conditions, the Liffey Cable Car Company is ready and able to proceed with the €52m ‘Suas’ scheme.

    And the firm is even planning similar projects in other cities in Ireland and in New York.

    The ambitious proposal would see cable cars gliding over the Liffey at heights of 80 metres.

    All the company needs is the go-ahead from Dublin City Council after it lodges a planning application and it can proceed, said Paddy Duffy, who has been working with the company on the plans.

    The tourist attraction, which is inspired by the London Eye, is the brainchild of developer Barry Boland.

    “Mr Boland is not looking for any public money at all. He has the sizeable amount of money necessary for the project already in place,” Mr Duffy said.

    “The next step would be to approach Dublin City Council, to see if the officials will support it. That is where the project is at the moment,” he added.

    The company is looking to hold pre-planning consultation meetings with the local authority.

    If given the go-ahead, Suas will run from Heuston Station to the Docklands.

    A presentation of the plan was made to the economic special policy committee earlier this year and was well received by councillors, Mr Duffy said.

    “The team was very heartened by the positive reaction of the engineering committee of the council when they presented it to them,” he added.

    comurphy@herald.ie

    – Cormac Murphy

    http://www.herald.ie/national-news/city-news/cash-in-place-for-liffey-cable-car-1816070.html

    So who is Mr. Paddy Duffy???

    Well being the helpful sort, hutton thought is might be informative and add just a little bit of background information…

    When not penning Fianna Fail anthems titled “The Man They Call Ahern”, Paddy gets around…First from the Irish Times last year when the scandal broke as to the Fás junkets:

    @Irish Times, front page wrote:

    Associate of Ahern flew twice to US as Fás guest

    Tuesday, November 25, 2008

    COLM KEENA and ELAINE EDWARDS

    PADDY DUFFY, the close associate of former taoiseach Bertie Ahern,
    travelled to the US as a guest of Fás in 2004 and 2006, although he
    had no official role with the authority.

    The cost of Mr Duffy’s trips – one of which cost €4,562 – was charged
    to the Fás Science Challenge project, which spent over €600,000 on
    transatlantic travel for the director general of Fás, Rody Molloy, his
    wife and senior Fás executives in a four-year period.

    As pressure grew on Mr Molloy yesterday in relation to expenditure
    controls at Fás, Taoiseach Brian Cowen said he knew Mr Molloy to be an
    excellent public servant.

    “I have every confidence in him,” Mr Cowen said. Fás is the national
    training authority and has an annual budget of €1 billion.

    Mr Molloy said on radio yesterday that the expenditure was related to
    the Fás Science Challenge programme which links up Irish students and
    apprentices with top science institutes in the US, including the Nasa
    space centre in Florida.

    Mr Molloy said a $942 game of golf at the Hyatt Regency Grand Cypress
    Resort in Orlando in January 2005 was part of a process of developing
    relationships with people in the US.

    He also defended the expenditure of $410 at a beauty and nail salon in
    Cocoa Beach, Florida, in August 2005. “Getting into detail of the
    preparation of somebody for a particular event, again the amount of
    money in terms of the total package is very, very small,” he said on
    RTÉ’s Today with Pat Kenny show.

    Fine Gael spokesman on enterprise Leo Varadkar, called on the Tánaiste
    and Minister for Enterprise, Trade and Employment Mary Coughlan to
    “back or sack” Mr Molloy and his board. Documents released to The
    Irish Times by Fás under the Freedom of Information Act show Mr Molloy
    travelled to the US 11 times between November 2003 and November 2007,
    with his wife accompanying him on five occasions. The total cost was
    €67,917.

    The majority of the flights cost several thousand euro, with a flight
    for Mr Molloy to Houston in April 2007 costing €8,966.43.

    In November 2007, a Fás executive and his wife flew around the world
    at a cost of €12,097. “The individual in question, who was at an event
    in Tokyo, on official business . . . then at his own expense spent
    some time on the way back coming back through the US,” Mr Molloy said.

    Mr Duffy was flown to Atlanta, Georgia, in January 2004 at a cost of
    €4,562. The cost of a 2006 flight for Mr Duffy paid for by Fás, this
    time to Florida, is not known.

    Mr Duffy, who acted as an adviser to Mr Ahern up to 1999, is now a
    public relations consultant. He told The Irish Times he was heavily
    supportive in a voluntary capacity of the Science Challenge, and was
    invited by Fás on both trips. Fás is currently the subject of an
    inquiry by the Dáil Committee on Public Accounts.

    This article appears in the print edition of the Irish Times

    http://www.irishtimes.com/newspaper/frontpage/2008/1125/1227486547029.html

    Secondly from the SB Post:

    @Sunday Business Post, 2002/03/31 wrote:

    http://archives.tcm.ie/businesspost/2002/03/31/story395283728.asp
    Second episode involving former advisor
    Sunday, March 31, 2002
    By Pat Leahy

    Paddy Duffy has been associated with Bertie Ahern for much of the Taoiseach’s political life, but this is the second time in three years that he has caused him severe embarrassment.

    Duffy resigned from his post as a special adviser to Ahern in June 1999 when it was revealed that he had been been a director of a public affairs and lobbying company, Dillon Consultants, for a number of months.

    Dillons had advised NTL, which had bought Cablelink from the state, and Duffy had attended meetings between the Taoiseach and representatives of NTL.

    Duffy’s versions of events later differed from those supplied by Dillons.

    Duffy said that his installation as a director of the firm was due to mistake and misunderstanding, although he himself had signed the necessary form which was lodged in the Companies Office.

    It later emerged that the company had described him as one of `our people’ and boasted of his political connections months before he signed up as a director. The Public Offices Commission later found that neither Duffy nor the Taoiseach had complied with their obligations under the Ethics in Public Office Act.

    Answering questions on the matter in the Dail, the Taoiseach described Duffy’s version of events as “so stupid it is probably believable”.

    Although Duffy did not reveal it at the time, he was also a director of a company called The Right Word. Since his departure from government he has developed The Right Word into a successful public affairs consultancy. He has recruited a number of former political and civil service employees to work with him in his Harcourt Street offices.

    According to the company’s website, Duffy and co “have worked at the very highest levels of government and the public service and the private sector . . . . they know intimately how government and business work, how policies are determined and put into effect.

    “[The company is] keenly aware of . . . the broad remit there is to democratise and make accessible channels of government decision-making . . . The programme pace and impact, [sic] are always those desired by the client.”

    The Right Word declined a request from The Sunday Business Post for information about its clients last week. It refused to say whether it numbered any publicly-funded bodies among its clients.

    Before joining Ahern as a full-time operative, Duffy was a teacher and the founding principal of a gaelscoil in Ashbourne, Co Meath. He joined Ahern in the Department of Finance as press officer, and when Ahern became party leader in opposition Duffy held the title of chef de cabinet.

    He became special adviser on Ahern acession to the Taoiseach’s office, working principally in the areas of cultural affairs and speechwriting.

    He also composed what was for a time the Fianna Fail theme tune, The Man They Call Ahern.

    And thirdly, from Phoenix:

    Phoenix Magazine, Feb 24, 2006 wrote:

    1916 STREET BATTLES

    “Developer of the year 2005” Joe O’ Reilly of Dundrum Shopping Centre
    fame who must be wondering about his deal with the Corpo to buy the
    O’Connell St /Moore St parcel of property, given the phalanx of rival
    developers, politicians, conservationists and 1916 patriots lined up
    against him.

    Originally earmarked to be redeveloped by Paul Clinton’s Carlton
    Group, the lot, which includes the former Carlton Cinema, is
    potentially one of the most lucrative redevelopment opportunities in
    Dublin’s City Centre.

    However, Clinton, is challenging the Corpo’s right to sell these sites
    to O’ Reilly on foot of a 2001 compulsory purchase order – something
    Clinton is also contesting.

    Then theres the hoo-ha following the “rediscovery” that 16 Moore St, a
    house in the middle of the site, was the final headquarters of the
    1916 leaders. In the midst of this bear garden has come the council’s
    decision to extend the submissions deadline from January to March on
    whether to preserve the building.

    Following a campaign by An Taisce and the National Graves Association,
    city councilors decreed by vote that the historically significant
    Georgian building be
    preserved.

    However last summer it was noticed that in the intervening two years
    the building had become effectively derelict and was missing a large
    part of its roof.

    Another campaign was started, including unlikely bed-fellows, ex-mayor
    and sticky Thomas Mc Giolla, Shinner Daithi Doolan, and Labour
    Councilor Dermot Lacey. Also involved is An Taisce’s Dominic Dunne,
    conservationist Mark Leslie, and the National GravesAssociation.

    Minister Dick Roche then requested that the council list the building
    as a protected structure]

    As you can see, Paddy is a man of many talents – including, yet not covered in media as far as I know – he actively lobbied against ACA/ Architectural Conservation Area status for Grafton Street. Regrettably for him on that one, he lost… Ah shucks…

    in reply to: Liffey Cable Cars – Pointless Gimmick or…. #766827
    hutton
    Participant

    @hutton wrote:

    Breaking News

    Amidst the gloom of projects stalling, Dubliners will be glad to hear that one project is set to go ahead – albeit now in a slightly revised form…

    @lostexpectation wrote:

    your kidding?

    I had thought I was, yet regrettably my perverse sense of humour has been matched only by a perverse sense of reality:

    Cash in place for liffey cable car

    By Cormac Murphy

    Friday July 10 2009

    THE COMPANY behind the Liffey cable car proposal has the money in place to fund the project, it has been revealed.

    Despite the difficult economic conditions, the Liffey Cable Car Company is ready and able to proceed with the €52m ‘Suas’ scheme.

    And the firm is even planning similar projects in other cities in Ireland and in New York.

    The ambitious proposal would see cable cars gliding over the Liffey at heights of 80 metres.

    All the company needs is the go-ahead from Dublin City Council after it lodges a planning application and it can proceed, said Paddy Duffy, who has been working with the company on the plans.

    The tourist attraction, which is inspired by the London Eye, is the brainchild of developer Barry Boland.

    “Mr Boland is not looking for any public money at all. He has the sizeable amount of money necessary for the project already in place,” Mr Duffy said.

    “The next step would be to approach Dublin City Council, to see if the officials will support it. That is where the project is at the moment,” he added.

    The company is looking to hold pre-planning consultation meetings with the local authority.

    If given the go-ahead, Suas will run from Heuston Station to the Docklands.

    A presentation of the plan was made to the economic special policy committee earlier this year and was well received by councillors, Mr Duffy said.

    “The team was very heartened by the positive reaction of the engineering committee of the council when they presented it to them,” he added.

    comurphy@herald.ie

    – Cormac Murphy

    http://www.herald.ie/national-news/city-news/cash-in-place-for-liffey-cable-car-1816070.html

    in reply to: Smithfield, Dublin #712456
    hutton
    Participant

    Hi Kefu,

    • StephenC has a good point about lack of permeability by public transport – in particular the unreformed Dublin Bus routes via Stoneybatter still adhere to tramway routes from the 1930s, by going from the city centre up the quays and across a bridge onto Blackhall Place. To my mind it seems logical that with the redevelopment of Smithfield, some of these should have been rerouted by North King and Church Streets and via Fr. Matthew Bridge – hence delivering services to SF, rather than bypassing.
    • Separately from what I understand, the developers rented out a massive “step-down” space out to the HSE for addicts, in the block adjoining the motor tax offices. I suspect they rented out in desperation for some kind of revenue, however my understanding is that the facility is far larger than purely that for local needs. Smithfield was already providing home to the children’s court and also the probation service – yet the cumulative effect of all of these in the one place, in the absence of living commercial space, has really made it a no-go area.
    • Finally the tower, now closed for over two years, and the tall lamps unused, are really the final straw in terms of sending out all the wrong signals of dereliction and closure. These gave a sense of vibrancy that could be attractive to parents and their children, and while there may be issues about burning gas, there must be some inexpensive way to rehabilitate. Instead, idle and empty, these past attractions seem to compliment the stained and tatty awnings for the closed Park Hotel and convenience stores.

    On the upside, in my opinion the Dice Bar and the Cobblestone pub continue to be successful, and imo Dice Bar has done more for regeneration of that area than the Luas – which imo has been counter-productive thru having been over-engineered and anti-pedestrian and anti-cyclist – please note the “no pedestrian” signs and barriers erected by Luas on pavements at Benburb and Church Streets – madness!

    in reply to: Dublin’s Ugliest Building #713279
    hutton
    Participant

    I must say on first impressions, I really like that; there’s a warmth created by the terra cotta that I just have never got from O’DTs Ranelagh School – which Ive always believed to have been far too over-rated (maybe because Ranelagh is largely in yellow brick, which as gunter will point out is such a second rate material :p).

    Anyhow, don’t know how this development passed me by, but time for a site visit. One last thing, my initial feelings would also have to be tempered with C’s reservations about quality of life for ground floor residents; why no shops?

    PS Morlan, great shots – don’t suppose you have them in colour? 😀

    in reply to: Dublin’s Ugliest Building #713251
    hutton
    Participant

    @lostexpectation wrote:

    whats the bluish building there in the front

    Used to be the old Irish Press HQ – Ghastly wasn’t it? Substantially less offensive once it was reclad with stone to appear as if it is a different building 🙂

    hutton
    Participant

    @missarchi wrote:

    Bus gate might be phase 1? the buses must cross the river until metro north is sorted…
    After that anything may be possible… Have Dublin bus ever proposed bus tunnels or underground bus depots in the past?

    *Tin Opener* — > > *WORMS*

    Missaarchi in missarchi’s own inimitable way has a point – this is looking as if it’s all about a land-grab of the city centre by Dublin Bus, who previously didn’t get the sub-Liffey linked Temple Bar/ Abbey St depot… And this one makes about as much sense.

    In case anybody is fooled into thinking this is only going to be part time, according to the Irish Times – “the city’s director of traffic, Michael Phillips, said the bus gate could have to revert to the original 24-hours, once Metro North construction begins.”
    http://www.irishtimes.com/newspaper/breaking/2009/0421/breaking53.htm

    Stealth planning, incremental, lack of contextual consideration, lacking EIS or an EIA – but wait it’s a “green” measure, so it must be good? Why is this beginning to remind me of “free bikes” by JC Decaux…

    Re Fergair’s point, as to crossings, west of O’C bridge there is Capel St , Winetavern Street, and Church St Bridges – and that’s only west as far as the 4 courts. East of O’C there’s Matt Talbot, Butt Bridge (both have counter-flow potential), while NCR will link in with by Beckett Bridge.

    DB’s over-concentration of buses funneling via O’C St and bridge is now worse than when there were trams, as at least the 23 tram went via Capel Street.

    Map link below of old tram network; damn all has changed other than seemingly more concentration on O’C st by DB, with less service in the north inner city.

    http://en.wikipedia.org/wiki/File:Dublin_1922-23_Map_Suburbs_MatureTrams_wFaresTimes_Trains_EarlyBus_Canals_pubv2.jpg

    hutton
    Participant

    Lad in the snap at top of the page had it right when he said “a lot of developers have taken their eye off the ball” – well, taken ever so slightly out of context… how times have so drastically changed…

    in reply to: ILAC centre #732076
    hutton
    Participant

    Hmmm, the overwhelming negative assessment of Ilac Mark 2 does not bode well for one’s hopes of what the adjacent Dublin Central scheme might amount to, which is after all being developed by the same developer Joe O’Reilly.

    One thing I did note re Ilac, was that while the architecture may not amount to much, the redevelopment was a textbook case of site management – i.e. being able to keep the centre open while redevelopment was taking place.

    We will continue to watch this space with interest…

    hutton
    Participant

    @Paul Clerkin wrote:

    Graham theyre only removing the temporary ones between the obelisk and the railings put in a decade ago. I don’t believe there ever was a proposal to remove all the spaces.

    That might be so, but it’s a missed opportunity to lift the bar – imagine a more integrated relationship between Leinster Lawn park with Merrion Square? Why not a corridor connecting the Natural and National museums, providing linkage amongst the 4 cultural institutions?

    That’s the problem with this area; incremental proposals or impositions and no overall plan The lawn by itself, the mooted natural museum extension, and the Unknown tomb of the Soldier recently erected within the park railings – seemingly no coordination despite all state controlled.

    A little bit of imagination in handling this quarter could pay real dividends.

    in reply to: Smithfield, Dublin #712413
    hutton
    Participant

    @jdivision wrote:

    There’s a whole swathe of empty retail units around the city that have been unoccupied for years.

    This issue has been on my mind for some time – the UK Local Govt Assoc has also identified it as issue, with some suggestions – see below.

    Re Wax Museum – where so would you put it?

    The allocation of an over-sized step-down methadone clinic that was going to permit last year to HSE, and albeit located on Queen Street, really smacked (no pun intended) of the developers/ owners desperate for rent – and signs on as to poor Paddy Kelly going to the wall… I wonder if the wax museum suggestion was also a sign of desperation?

    On empty shops: http://news.bbc.co.uk/2/hi/uk_news/magazine/7840421.stm

    in reply to: Smithfield, Dublin #712411
    hutton
    Participant

    @jdivision wrote:

    They had rental agreements in place on a number of the units. However, the retailers are refusing to move in as the units are double height and they don’t want to pay the additional costs such as heating that involves. The developers went back and tried to put mezzanines or convert the top half into offices making the units single storey but DCC in their wisdom said no. So now the units are empty and with the downturn many of those who had agreed to open are probably reassessing their options.

    In fairness jdivision, DCC probably got tired of all the change-of-uses sought by the developers, and possibly viewed such requests through that prism – ie no emigration museum, no legal museum, no craft centre, or sculpture centre – all of which were scheduled but never happened 🙁

    The light house is a gem in an otherwise now somewhat intimidating ghost town.

    in reply to: Irish say no to PVC windows #745033
    hutton
    Participant

    Well done cobalt – your civic action is both commendable and seems to have paid off!

    @Paul Clerkin wrote:

    That is a spectacularly ugly window design.

    Agreed. Do we know what gobshite owns this building? 😡

    in reply to: Carlton Cinema Development #712046
    hutton
    Participant

    I couldn’t believe when I saw this today – and Dick Quirke has erected a massive banner hoarding advertising his Dr Quirkey’s, which of itself contains tolerating a non-compliant gambling outfit to advertise on an unauthorised structure on the capital’s finest street – you just couln’t make this stuff up 😡

    in reply to: Shopfront race to the bottom #776114
    hutton
    Participant

    @Devin wrote:

    Everybody can see that Westmoreland Street is deteriorating out of control. Things that had been ok have to deteriorate just to keep up.

    Ah but did you not know that Gormley’s Bus Gate is going to fix all that, just as in Marlborough Street and Parnell Square West… Because Gormley/ DoE and DCC have really made a priority of completing the O’C St IAP, clearing up the clutter that blights College Green and Westmorland Street, and enforcing proper planning… Except they have like shite and have no such commitments in their Bus Gate plan, which imo threatens to further damage WM St by turning it into a Bus Gutter…

    @gunter wrote:

    I don’t know about ‘the worst shopfront in Dublin’, look at what they did around the corner in College Green:
    It looks like Daly’s Club House have sub-let part of their ground floor to an Indian take-away and they’ve plastered signage all over the stonework of the classical facade!

    Where are the Wide Streets Commissioners?

    I’m tempted to write a stiffly worded letter to Faulkner’s Gazette 🙂

    Gunter – Luke Gardiner is watching you :p

    in reply to: O’ Connell Street, Dublin #731322
    hutton
    Participant

    @Peter Fitz wrote:

    is there some merit in giving the grand canal theatre an actual purpose & declaring it the Abbey’s new home ?

    @jdivision wrote:

    It’s privately owned (Harry Crosbie) so think that may be out unfortunately. Would have been a most sensible idea otherwise. Too sensible by far for those doing the botching

    Got to say while I can see your reasoning, I would be fundamentally against such an idea. The north inner city centre has seen far too many venues and attractions close over the last generation – countless cinemas, as I noted on another thread, as well as various other multi-generational interactive attractions, such as wax museum, SFX, etc. (I see also Gobshite Martin Cullen has also recently cut the funding for Writers’ Museum 😡 )

    O’Connell Street has been subverted by the departure of such attractions in it’s hinterland – sure Parnell Cineplex may have opened, but on the whole there are far far fewer attractions in this area now then there were in the midst of the early 80’s recession.

    If the city centre is to have any chance of functioning, anchor attractions need to be reinserted onto the capital’s grandest street – otherwise, despite all your IAP fancy footpaths, the street will alas continue in a downward trajectory.

    Therefore, rather than adding to this trend by relocating Abbey Theatre away from O’Connell Street, it should in fact be located onto O’C Street as a key attraction in the GPO.

    If we have any cop in this town, we should realise that the current recession is likely to last a number of years – possibly 10 or more – and therefore we should start figuring out other ways by which civic pride can be brought back up again. Cheesy and all as it was, I believe that Dublin’s 1988 Millennium did wonders for reinstating civic pride when we really needed it – a pride that helped get the city back on track so that it was able to act as a capital of a country that subsequently boomed.

    The centenary of 1916 is coming up: rather than a destructive episode such as that which became of the Pillar in ’66, what say we use 2016 as a rallying point to do something positive, much as what the millennium became, and in that regard I put it to you that a restored GPO containing the Abbey and other venues such as for opera/ ballet would be a real beacon that the capital could do with – right when we need it most!

    What say? 🙂

    in reply to: O’ Connell Street, Dublin #731319
    hutton
    Participant

    @cgcsb wrote:

    how’s the Carlton plan coming along? I visited Victoria Square in Belfast recently, it’s stunning. Hope the Carlton will produce a similar result.

    You mean what’s now “Dublin Central”? Now 5.5 acres footprint, whereas Carlton/ Millennium Mall was a meagre 2 acres…

    Anyhow two pieces relevant in yesterday’s paper, one predictable enough that DC is being referred to An Bord P, the other piece though featuring Joe O’Reilly is quite striking – Sunday Times says Uncle Joe is one of the Anglo Golden Circle of 10!!


    O’Connell Street development faces year’s delay

    Sunday Business Post

    Sunday, February 22, 2009 By Gavin Daly
    Plans for a €1.25 billion development on O’Connell Street in Dublin could be delayed by a year after the project was appealed to An Bord Pleanála. Dublin City Council granted permission for the redevelopment of the former

    Carlton cinema site last year, but it has been referred to the appeals body in recent weeks. The ‘Dublin Central’ development by Chartered Land is due to include a €50 million John Lewis department store and a ‘park in the sky’ on top of the building.

    However, there have been objections by at least eight parties, including the National Conservation and Heritage Group, the National Graves Association and a group called Save 16Moore Street.

    The groups believe that the development will significantly change the character of the area, which has close links to the 1916 Rising.

    The other objectors include Honor O’ Brolcháin, an author and teacher, who is descended from Joseph Plunkett, who signed the 1916 Proclamation and was executed for his part in the Rising. Treasury Holdings, the property firm headed by Johnny Ronan and Richard Barrett, has also objected to the O’Connell Street development.

    Chartered Land, which is controlled by developer Joe O’Reilly, spent several years assembling the 5.5 acre site for the development – which is bordered by O’Connell Street, Parnell Street, Moore Street and Henry Street. It plans to build 108 apartments, 109 shops, the John Lewis department store and 17 restaurants, as well as two new streets and three public squares.

    The firm has said that more than 7,000 people will be employed building the development, while 3,000 jobs will be created once it opens. It hopes to open the development in 2013,althoughthat could be delayed by the referral to An Bord Pleanála.

    A plan by retailer Arnotts for a €750million development of shops and homes near the GPO, called the Northern Quarter, took a year to go through the process with an Bord Pleanála. Arnotts is understood to be close to finalising plans for its development.

    http://www.sbpost.ie/post/pages/p/story.aspx-qqqt=IRELAND-qqqm=news-qqqid=39760-qqqx=1.asp

    From The Sunday Times
    February 22, 2009:

    Named: four of Anglo’s ‘golden circle’
    Gerry Gannon, Joe O’Reilly, Seamus Ross and Jerry Conlan are four of the businessmen who secretly bought 10% of Anglo Irish Bank with the bank’s own cash

    Tom Lyons

    The businessmen who bought 10% of Anglo Irish Bank last summer, using funds supplied by the bank, include the co-owner of the K Club and the builder behind the Dundrum Shopping Centre. The “golden circle” also includes the country’s biggest housebuilder and the founder of a private hospital group.

    Four of the 10-strong group of investors assembled by David Drumm, Anglo Irish’s former chief executive, are: Gerry Gannon, Joe O’Reilly, Seamus Ross and Jerry Conlan. Either they or some of their companies now owe several billion to Anglo. All four declined to comment last week.

    Gannon co-owns the K Club, which hosted the 2006 Ryder Cup, with Michael Smurfit. He is the founder of Gannon Homes and owns a large amount of land in north and south Dublin.

    O’Reilly is best known for developing the €1 billion Dundrum Shopping Centre. His company, Castlethorn, plans to build a €1.2 billion new town in Adamstown, west Dublin. He also plans a mixed-use development on O’Connell Street in Dublin.

    Longford-born Ross runs Menolly Homes, the country’s biggest housebuilder. He owns Dunboyne Castle in Co Meath and recently ended a dispute over profits made on the development of houses in the K Club. He lost millions when the International Securities Trading Corporation (ISTC), a finance company set up by Tiernan O’Mahony, a former Anglo executive, came close to collapsing.

    Conlan is the least well-known of the four. He sold 400 acres of land he co-owned in Naas, Co Kildare, known as Millennium Park, for €340m. He used much of the proceeds to found the Mount Carmel Medical Group which owns a maternity hospital in Rathfarnham, south Dublin. Mount Carmel has been appointed by the Health Service Executive to build private hospitals on the grounds of public hospitals as part of the co-location strategy.

    The Sunday Times has been able to ascertain that the following businessmen, some of whom have had dealings with Anglo, are not among the 10 investors: Sean Mulryan, Patrick Doherty, Sean Dunne, Derek Quinlan, Denis O’Brien, JP McManus, John Magnier, Noel Smyth, Michael Whelan, Jim Mansfield, Richard Barrett, Johnny Ronan and Fintan Drury.

    Patrick Kearney, a founder of PBN Property in Belfast, did not return repeated calls made last week. He was variously “in a meeting”, “in another meeting” and then “flying to Gibraltar”. Kearney is Anglo’s largest client in Northern Ireland and a close friend of Drumm. His business partner, Neil Adair, established Anglo’s Belfast branch.

    John McCabe, the founder of McCabe Builders, also refused to comment last week. He was said to be “out of the office”, then “not at home” and finally The Sunday Times was told “he will call you back if he wants to”.

    McCabe is an important Anglo client who lives on a stud farm in Meath formerly owned by Charles Haughey, the late taoiseach.

    Last week Ulick McEvaddy, a well-known business figure, described the “Anglo 10” as “heroes” who were prepared to put themselves at risk to support the bank.

    One banking source said: “Sure, they were patriotic, but if your bank asks you for a favour [in these market conditions] you do it.”

    In total, Anglo Irish Bank lent €451m to a group it has described as “10 long-standing clients”, to buy 10% of the bank. The shares are believed to have been acquired through nominee companies.

    The transaction was agreed to prevent the stake acquired through contracts for difference (CFDs) by businessman Sean Quinn coming to the market last summer. It was feared that this would result in a sharp fall in Anglo’s share price.

    Three-quarters of the loans were secured against the shares themselves, with the remaining 25% secured on the participants’ “personal assets”.

    The bank admits it is likely to have to write off €300m of the money it loaned the 10 investors. Because Anglo has since been nationalised, this loss now passes to the Irish taxpayer.

    The Financial Regulator has “categorically” denied knowing the terms of the deal or the identity of the investors beforehand.

    It said it knew “steps” to unwind the Quinn shareholding were being put in place, but has not explained why it did not seek further information on the final structure of the deal.

    The emergence of four of the 10 names will put further pressure on the government to disclose the others.

    Brian Cowen, the taoiseach, said last week that his advice from the attorney general was that he could not disclose the names.

    Donal O’Connor, the Anglo chairman, said last week it “would be wrong for the bank to refer to any transactions or dealings with any specific customer of the bank”.

    Eamon Gilmore, the Labour party leader, yesterday called on the government to appoint a High Court inspector to investigate various activities at Anglo.

    http://www.timesonline.co.uk/tol/news/world/ireland/article5781014.ece

    in reply to: New Advertising in Dublin #777161
    hutton
    Participant

    @publicrealm wrote:

    Thanks for posting that SR – I checked both refs and it appears that 6784/06 is in a Z1 (rather than Z9) area?

    Does anyone have other examples of permitted advertising in Z9 areas?

    P.

    Shed loads adjacent to RPS and in arch zones that weren’t referred to prescribed bodies – Constitution Hill Synott Place and Camden St come to mind.

    in reply to: Stop this nonsense! #777454
    hutton
    Participant

    I can see the post already – Bungalow Bliss, Four Floors Up on O’Connell St

    What an address :p

    in reply to: Stop this nonsense! #777453
    hutton
    Participant

    @hutton wrote:

    ill-informed spacing of opes

    A bit like my gob on occasion 😮

    Read “An BP” rather than “DCC” for the start of that – and I would add to clarify, a most welcome decision by DCC in shooting it down in the first instance (see henno’s post above) 🙂

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