[Sponge Bob]

Originally Posted by antoobrien

Australian & Sinapore based owners of Telecom Eireann/Eircom since flotation.

Goeorge Soros, Sir Somebody, Providence Equity Partners.

[ballinteerguy]

Heard on Newstalk this morning that Eircom staff (as part of ESOT)
are to get a pay off of around €9k tax free each on average.
As part of winding up the ESOT finally.. even though the company is broke and on its knees...

This is on top of the average total of ~€65k - (also Tax free) they have got up till now.

Cant fuppin believe it, no wonder the max broadband is only 8mb, all the owners and staff are creaming it off and then begging the high court to get their huge debts cut.

Government should have closed that tax loophole a long time ago.

[antoobrien]

Originally Posted by ballinteerguy

Heard on Newstalk this morning that Eircom staff (as part of ESOT)
are to get a pay off of around €9k tax free each on average.
As part of winding up the ESOT finally.. even though the company is broke and on its knees...

This is on top of the average total of ~€65k - (also Tax free) they have got up till now.

Tax free? Seriously doubt it.

Originally Posted by ballinteerguy

Cant fuppin believe it, no wonder the max broadband is only 8mb

More to do with the quality of the copper wire and limitations of DSL technology than costs.

[ballinteerguy]

Originally Posted by antoobrien

Tax free? Seriously doubt it.


More to do with the quality of the copper wire and limitations of DSL technology than costs.

Sorry I should have put a link to it
http://www.irishtimes.com/newspaper/...316990331.html
All payments have been tax free over the years.

As per the limitations of the DSL - I guess this is true, but with all the payments and debt - this could have been used to upgrade the line over the years instead of being siphoned off for staff and managment.

[antoobrien]

Originally Posted by ballinteerguy

Sorry I should have put a link to it
http://www.irishtimes.com/newspaper/...316990331.html
All payments have been tax free over the years.

As per the limitations of the DSL - I guess this is true, but with all the payments and debt - this could have been used to upgrade the line over the years instead of being siphoned off for staff and managment.

What and do what other privately owned companies that want to keep staff do? Lord they couldn't do that.

[ballinteerguy]

Originally Posted by antoobrien

What and do what other privately owned companies that want to keep staff do? Lord they couldn't do that.

Im not saying they shouldnt pay staff bonus's for performance or reasonable wages. Other companies which have massive debt and poor products would either go broke or cut their cloth, this isnt happening in Eircom. apart from a voluntary redunancy where usually the best staff leave.

[Farmer Pudsey]

I believe that this money was not belong to eircom it was secured the time eircom was taken off the stock exchange the second time. The ESOT offered to reinvest in eircom and the banks did not accept the offer so now the money is to be redistributed to the staff involved.

This is what happerns in private enterprise