NAMA and Sindo in PR war

Scofflaw

NAMA appears to believe that the Sunday Independent is spreading false and damaging allegations about it:

Weekend press reports on NAMA actions risking jobs completely misleading and inaccurate

Agency warns of increased efforts to spread damaging and unfounded stories about NAMA as it increases pressure on debtors

Monday 20th February 2012. Weekend press reports [Sunday Independent -19th February] alleged that the actions of the National Asset Management Agency [NAMA] could have cost 230 jobs that were being created in Dublin.

This story is completely inaccurate and misleading.

NAMA wishes to state that no effort was made by the paper in question to check the allegations being made with NAMA through its Press Office before the story was published and no opportunity was afforded the Agency to reject the allegations being made.

The facts of the situation are that NAMA actions were crucial to resolving a number of issues that NAMA inherited which would have prevented the jobs being created including settling a Court action over rights of way involving an adjoining land owner and settling outstanding development levies owed to South Dublin County Council.

This ensured that services and access were provided for over 70 acres in this and an adjoining development site.

NAMA’s actions in this matter not only enabled the project to proceed but facilitated the sale of a second adjoining site in the vicinity which will see another high tech computing operation proceed which will create additional employment.

Throughout this project, NAMA dealt directly with South Dublin County Council and with IDA and the Agency has very good relationships with both at senior levels where matters not of NAMA’s making were able to be resolved very quickly.

Speaking today a spokesman warned that the Agency has seen a significant increase in the number of baseless, critical stories relating to the Agency as the level of enforcement activity by NAMA has increased in recent months and also where NAMA has applied increased pressure on some debtors to reverse asset transfers, reduce overheads or provide unencumbered assets; “We have seen increased efforts to spread unfounded and damaging stories about NAMA by some parties whose sole agenda seems to be to frustrate NAMA in carrying out its responsibilities.”

“NAMA wants to place it on record that it will continue to be resolute in fulfilling its legislative mandate and will not be swayed by inaccurate and misleading commentary”

Interesting - a common view (expressed regularly here) is that NAMA is a "bailout for the developers", and here is NAMA complaining that as it pursues developers it's beginning to be the target of a PR campaign presumably aimed at making it back off.

cordially,
Scofflaw

SBWife

I think NAMA has moved on so that it's primary purpose/goal is the continued existence and preservation of NAMA.

woodoo

The Sindo tend to spin and exaggerate for effect. I'm no fan of NAMA but i never take what the sindo says at face value.

Dirk Gently

Sindo in property shill shocker. Mr Quinn take note of our high standard traditional media in action.

Brussels Sprout

As well as that front page article about the Google site, the Sunday Independent also had a story where they were practically championing Johnny Ronan and Richard Barrett in their legal action against NAMA.

This particularly nauseating segment pretty much sums up the article:

Given Frank Daly's longstanding interest in the lifestyles of Ireland's rich and famous, it wouldn't be entirely unreasonable to suggest that before he ever joined Nama, he may have known something of at least one aspect of the lives of Richard Barrett and Johnny Ronan given the huge success they have enjoyed since founding Treasury Holdings in 1989.

What he probably didn't know that much about though, was how the Treasury chiefs do business, and just how fiercely they protect their interests if someone threatens it, be that by accident or design.

The Sunday Independent talking up developers-Is it 2006 again?

Slydice

NamaWineLake has a pretty interesting article on the matter:
http://namawinelake.wordpress.com/2012/02/20/nama-fights-back-and-warns-of-increased-efforts-to-spread-damaging-unfounded-stories-as-agency-increases-pressure-on-debtors/
(quote selected by me, though the whole article [and indeed the whole blog] is worth a read)

I came away wondering what exactly NAMA had done wrong in this matter, based on the information in the article, and having considered the media attention on the Agency in the past couple of months, thought some balance was needed and so there was a blogpost “10 things that NAMA is doing right”

This morning, in an unprecedented statement, the Agency itself has hit back. The story in the Sunday Independent is “completely inaccurate and misleading” according to the Agency and the facts are diagonally opposed to what is suggested by the Sunday Independent.

Dannyboy83

http://www.irishtimes.com/newspaper/ireland/2012/0203/1224311177168.html

Mr Quinn said the strengths of traditional media were its “high degree of reliability, accuracy, authority and a willingness to accommodate different points of view”.

In recent weeks, it seems the traditional media have set out to prove Mr.Quinn wrong.

Paulzx

The Sunday Independant spreads false and damaging allegations about someone every week.

It just happens to be Nama this week.

Next week they'll have a new target or else go back to one of the old ones.

Ces't la vie..

Sleepy

I just wish they'd spread some false and damaging allegations about me some week. Could really do with the libel payout!

They just needed a new traget....public services basing has strayed in to the area of irony and had become a bit comic...you here comment like "public services bashing sticks at the ready" as someone pick up the paper.

GSF

Typical of Irish free thinking. Blame the press, rather than a secret organisation that would give the KGB a run for its money.

Liam Byrne

GSF wrote: »

Typical of Irish free thinking. Blame the press, rather than a secret organisation that would give the KGB a run for its money.

There are plenty of problem with NAMA, but that shouldn't preclude is from objecting to the liked of Johnny "shake hands with Bertie nudge/wink" Ronan being described as "successful", particularly when NAMA is ridiculously paying him rent while trying to get money from him while he donates it to charity & to Rosanna Davison's weekend away fund.

GSF

Liam Byrne wrote: »

There are plenty of problem with NAMA, but that shouldn't preclude is from objecting to the liked of Johnny "shake hands with Bertie nudge/wink" Ronan being described as "successful", particularly when NAMA is ridiculously paying him rent while trying to get money from him while he donates it to charity & to Rosanna Davison's weekend away fund.

well if NAMA was transparent it wouldnt have the issue in the first place. When you put up roadblocks to openess, stop complaining if people cant get the complete facts on what you are doing.

Liam Byrne

GSF wrote: »

Liam Byrne wrote: »

There are plenty of problem with NAMA, but that shouldn't preclude is from objecting to the liked of Johnny "shake hands with Bertie nudge/wink" Ronan being described as "successful", particularly when NAMA is ridiculously paying him rent while trying to get money from him while he donates it to charity & to Rosanna Davison's weekend away fund.

well if NAMA was transparent it wouldnt have the issue in the first place. When you put up roadblocks to openess, stop complaining if people cant get the complete facts on what you are doing.

I'm not complaining!!! As I said, there are plenty of problems with NAMA that need to be cleared up, not least it's "raison d'être" of propping up the false floor and preventing property reaching realistic market prices.

The Sindo is a pile of ****e, though - I wouldn't even believe their TV listings or the date on the masthead.