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EVERY WEEKEND, TheJournal.ie asks its readers to put their feet up and take a look back at all the goings-on from the world of business.
So once again it’s time to delve deep inside The Briefcase for all the important – and sometimes less-important – financial news that has come out this working week:
The “absent prince” could be returning to his princedom
Massachusetts judge Frank Bailey didn’t miss when he took aim at David Drumm in his ruling on the former Anglo Irish Bank boss’s US bankruptcy bid this week.
“Drumm’s statements to this court were replete with knowingly false statements, failures to disclose, efforts to misdirect, and outright lies,” Judge Bailey said in his scathing ruling.
The 48-year-old banker filed for voluntary bankruptcy to potentially walk away from €10.5 million in debts – the vast majority of which was owed to the in-liquidation Irish Bank Resolution Corporation (IBRC).
But the judge’s decision not to grant him bankruptcy in the US, where he would have got a smoother ride than under the equivalent Irish laws, opens up the door for him to be pursued for the full sum.
The man dubbed the “absent prince” during the high-profile trials for other Anglo officials was accused of defrauding his creditors through a string of clandestine transfers to his wife Lorraine as the bank he led collapsed in a smouldering ruin.
Judge Bailey rejected Drumm’s “so stupid” defence, adding in his withering 122-page judgement that the banker appeared to be “casting about for any plausible answer but the truth”.
The decision was followed with reports, yet to be officially confirmed, that the Justice Minister had pressed the “go button” on plans to extradite Drumm on up to 30 charges.
Meanwhile, the IBRC was keeping tight-lipped on how much former directors from Anglo and Irish Nationwide – the two firms nationalised and rolled into the now-liquidated entity - owed it in total.
By the end of 2009 there was €166 million outstanding in loans to former directors and managers, but there has been scant information out since then.
At least Drumm’s deeds inspired this charming Dublin mural:
The BT Young Science and Technology Exhibition opened its doors to the public on Thursday and we took the chance to visit the RDS and chat with some of the young entrants.
From probing the benefits of a gluten-free diet to perceptions of feminism, the students weren’t afraid to tackle the big issues.
Take Hannah Allsopp, who raked over 170 years of crime statistics to work out if the media was spinning the truth on murders – or if things had actually got worse.
Maybe we should give her a job.
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Parents creating mental issues where there are none. Life sometimes throws a curve ball. Stay positive. Adapt. Invent. Deal with it.
@Wood Jackson: There are massive problems for children. Being stuck at home and banned for all social activities for 3 months, has made so many confident happy children nervous and afraid to leave their parents. Same for older people.
@Wood Jackson: totally agree, parents need to think outside the box, I know too many parents that they are covering up “I can’t deal with the kids” with ” I’m concerned about what it will do, please open everything”.
I’ve done stuff with my kids that we never ever had a chance before, so much great times we have had. In our house it will be the impact on family life that will change for the worse when things get more normal.
@Wood Jackson: its very tough for children who have no siblings or friends and not getting attention from parents who are working all day from home.
Thankfully playgrounds are back open now, so hopefully things will turn around for these kids now.
@Wood Jackson: These kind of flippant stiff upper lip comments are why this country has such a problem with suicide. You have no idea what those kids are going through yet you imply, the parents, who know their children the best are ‘creating mental health issues’ What exactly do you think a parent would gain from that ?
@Wood Jackson: How you think an event, that’s touched nearly every country in the world, killed almost half a million people, stopped any form of normal life for months, not allowed embracing of loved-ones or interacting with friends, can not have a mental effect on people (incl. kids) and just needs some positivity is beyond me.
I think that attitude only futures contributes to the stigma of talking about mental health. I’d be one of the first to say kids are resilient and most will bounce back quickly when/if normality resumes but I think you’re frankly wrong in not allowing space for parents to be worried about the effect on their kids or in not believing this can have an effect on kids (“Where there are none”)
I think talking to kids regularly about how they are doing, recognising that’s it’s ok to feel down, annoyed, frustrated etc. can help encourage good conversations and avoid any bigger mental health issues down the road
@RJ: lucky you. Not everyone has been in the position where they can.
@Wood Jackson: Jebus ur clueless
@Wood Jackson: My son is a single child of 7 years. He hasn’t seen his classmates nor his best friends who is 1 year younger since the lockdown. They weren’t allowed at first and later if they would play at thst age 2m apart. You can’t have an eye on that the full time.
When homeschooling started my partner did that with him but this isn’t social interaction on an equal level, I also took him daily in the park for fitness challenges after work and spent my free days with him doing boardgames or what the 2km around town. However, I’m not 7 and my needs are different than his.
I could imagine that the lockdown time could be nice for children with siblings and parents who don’t work and can spent time with children but reality is that not every child is so lucky.
My child has changed for sure and is now glued to screens while he was otherwise far more active.
We plan now playdates with at least 1 child again and the parents again. Screw that kind of life.
My kids are quite happy sitting around on their arses all day playing video games and screaming/fighting while me and my wife try to work. It’s our mental health I’m worried about!
@John Shea Hen: Lol, very true.
@John Shea Hen: I hear ya!
I think it depends on the home situation. If parents are stressed, kids will be stressed. For many kids home life wasn’t a happy place before lockdown; lockdown made it worse. My kids were most stressed when I was attempting to homeschool without a spare laptop, work from home, cook, clean and break up fights…often all at the same time…having to stay up late or get up early in the morning to catch up on work. When I let “standards slip” let them play, use their imaginations, use “nanny Mctv”, stay in their pjs all day, get take aways, do bare minimum of homeschool, leave the house messy…they were happier, I was less stressed, they were less stressed…my kids have never been more content. Kids have to learn that life is not easy or go your way
There are kids who miss months or years of school and socialising because of illness all the time. Their mental health isn’t affected long term because of this. Kids are resilient. It’s parents making an issue when there is none. 3 months out of a lifetime is nothing. They’ll be fine.
My kid absolutely loved it but got back to socializing and interacting very easily.
@Emma Dobbyn: your kids aren’t all kids. Have a bit of empathy. The idea that this isn’t an issue for some families is ridiculous. I teach 18 autistic students and this has had a terrible impact on some of them and their families.
@Graham Manning: I have plenty of empathy and I completely understand how difficult it must be for families who have children with additional needs. However the article said that 70% of parents were concerned, 70% of the children in the country do not have addition needs. If we were speaking about a subset of children my opinion would be different.
@Emma Dobbyn: “parents making an issue where there is none”??? 70%? Fair enough but it’s far from just those with SEN and certainly not none.
@Emma Dobbyn: I don’t think that’s a very good comparison. Children who miss school for months or years at a time through illness is setting the bar really low. It also doesn’t factor in how children need to stay back a year if they miss too much school.
The big problem here that nobody seems to accept is that there may be no vaccine for the virus in the medium term. It might take years and years. So what is the solution to children’s schooling needs in this scenario? They are due back after already missing 6 months of school. What if there is a big 2nd spike of the virus this autumn? Do we force another lockdown and children miss more school? What about a 3rd and 4th wave?
Maybe try being better parents then?
The message we hear since March is ‘fear through national media. Such media also implying kids were a danger for spreading the virus.
I feel sorry for the kids.
Get a grip.
Children are free to interact with other children at present , this should help socially and emotionally for the vast majority of children . Some children with additional needs require far more support. These children usually qualify for “ July Provision.” The DES have made a pig’s ear of it , vague guidelines at the last minute, as per usual .
IT JUST GOES TO SHOW HOW THE BIASED MEDIA HAS BRAINWASHED PEOPLE INTO BELIEVING THE SNOWFLAKES AND THEIR SOCIALIST IDEALS.
@Jim: HEY JIM, QUIT WITH THE BLOODY CAPS LOCK PLEASE!!!!
@Jim:
Did you have a bad lockdown, Jim?
have your say