Dave Mc Redmond will be €6m richer next month

spongebob · 22-02-2004 2:27pm #1

Payback from the Valentia consortium. Story Here in the Business Post. I hear Phil Nolan will get over €12m

The managers will share an amount equal to the reduction in Capital Expenditure per annum by Eircom between 2001 and 2003 . Nice.

M

iwb · 22-02-2004 6:26pm

I find the SBP to be a great paper for industry coverage. There are around five separate articles that I have read so far dealing with eircom this week.
It really boils me to think that these guys will receive a huge payoff for leaving the country in such a state but that is business and what these guys are doing is completely legitimate. They will probably be admired for getting such an impressive return on the investment in business circles. I guess business doesn't have a social conscience.

Eurorunner · 22-02-2004 9:42pm

On the back page, Vinchinzo Browne provides coverage of the less than legitimate ordinary -> preference share conversion with ESOT tax privileges provided for by champagne charlie.

Also coverage of a study that shows that €ircon are the most vulnerable european telecoms incumbent to competition from the mobile phone sector as people start to do away with fixed line alltogether in favour of mobile only.

The SBP with yet another weeks great coverage.

iwb · 22-02-2004 9:55pm

Yes, there will be some serious spin put out by eircom over the next while to counter this of report. BT was tenth on the list of sixteen most vulnerable and eircom was number one. At least they are number one at something.

Mr_Man · 22-02-2004 9:58pm

From the Last Post Section of to-day's SBP

Dirty tricks
Looks like those grasping folks down at Eircom are reeling from the pummelling the company received over its recent fixed line price hikes. A Last Post agent on St Stephen's Green, Dublin, spotted a couple of interesting graffiti written on the back of an Eircom van last week. "Free Union Jack with every Esat BT connection," said the first. "BT Esat: British Thick Pigs," proclaimed the second.

When challenged, the driver seemed unconcerned about the bold statements regarding Eircom's main rival. Of course, it would be churlish of the Last Post to suggest that it should have carried a third: "Leave us alone while we rip off our own."

And this coming from a UK shelf company...................

M.

Ripwave · 22-02-2004 9:59pm

Originally posted by Eurorunner
Also coverage of a study that shows that €ircon are the most vulnerable european telecoms incumbent to competition from the mobile phone sector as people start to do away with fixed line alltogether in favour of mobile only.

Luckily for them, we have one of the least competitive mobile markets in Europe too.

Do you think someone is trying to send us a message?

machalla · 23-02-2004 2:14pm

I noticed it mentioned the mobile opartors are offering discounted call rates for new mortgage holders to give them an alternative to the land line monopoly (enjoy mobile oligopoly everyone). How nice of them...

Ro · 23-02-2004 4:18pm

Dave McRedmond aka Muhammed Saeed al-Sahaf.

Good to see Dave was being sincere in all those interviews about how increasing line rental was necessary to pay for Eircoms network, not just lining his own pocket.

Fallschirmjager · 24-02-2004 2:17pm

well at least he will be able to afford BB from eircom....

personally , im all for earning money, but the short termism here is quite staggering...yes they earned money now...but the issues they are pushing away will detonate very quickly....

either that or i think its the poison pill mentality to takeover...kinda like 'if we are sooo bad, noone will want us cos of the costs of ownership and upgrade will be huge, and even if they do come in as a competitor they are beholden to us....'

:rolleyes:

Dave Mc Redmond will be €6m richer next month

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