FG to sell Semi states

Baddaddy

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James Reilly mentioned this on Newstalk.

He said that when FG comes to power every semi state will be looked at with the exception of the National Grid, to assess their prospects for sale.
He was very clear that this was going to happen.

He also said that they may even increase the 25% stake in Aer Lingus, due to the fact we are an island.

Bord Gais was first on the list...

Why would they sell the assets now in the middle of a global recession were valuations would be greatly less.

Is selling an appropriate strategy? given our experiences with Telecom Eireann and Aer Lingus.
 


johnfás

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Perhaps because we have to get money from somewhere to try and stimulate new jobs... I'm all for hanging onto the semi-states but lets hear some alternative policies rather than just complaints.
 

Skrynesaver

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It's what happens when the IMF comes in, Bechtel ends up owning your water supply :(
 

loner

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Just wondering how much the sale of RTE would provide-----there is no need for a national broadcaster in this day and age and an open playing field would also improve the quality of our listening and viewing
 

hiding behind a poster

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James Reilly mentioned this on Newstalk.

He said that when FG comes to power every semi state will be looked at with the exception of the National Grid, to assess their prospects for sale.
He was very clear that this was going to happen.

He also said that they may even increase the 25% stake in Aer Lingus, due to the fact we are an island.

Bord Gais was first on the list...

Why would they sell the assets now in the middle of a global recession were valuations would be greatly less.

Is selling an appropriate strategy? given our experiences with Telecom Eireann and Aer Lingus.
He didn't say we'd sell them now. He said they'd all be looked at to assess their prospects for sale in the future. As for Telecom, the very fact that Reilly mentioned that the National Grid won't be considered for sale suggests that FG understand the difference between semi-states that hold essential national infrastructure and those that don't - meaning they're unlikely to make the same kind of mistakes that messed up the Telecom sale.
 

ymmek

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James Reilly mentioned this on Newstalk.

He said that when FG comes to power every semi state will be looked at with the exception of the National Grid, to assess their prospects for sale.
He was very clear that this was going to happen.

He also said that they may even increase the 25% stake in Aer Lingus, due to the fact we are an island.

Bord Gais was first on the list...

Why would they sell the assets now in the middle of a global recession were valuations would be greatly less.

Is selling an appropriate strategy? given our experiences with Telecom Eireann and Aer Lingus.
Reilly sometimes gets a bit carried away.If some in FG had their way there might not be any semi state companies,however now that Kenny is in the last chance saloon a larger stronger labour party will be able to ensure that the public service is not dismantled and that semi state companies are not sold off
 

goosebump

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Just wondering how much the sale of RTE would provide-----there is no need for a national broadcaster in this day and age and an open playing field would also improve the quality of our listening and viewing
Not much, but I agree, we don't need a national broadcaster. We just need to put the Public Service Broadcasting contract out to tender.

How does the joke go about RTE?

Whats the difference between the Titanic and RTE?



The Titantic had only 1 orchestra.
 

goosebump

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He didn't say we'd sell them now. He said they'd all be looked at to assess their prospects for sale in the future. As for Telecom, the very fact that Reilly mentioned that the National Grid won't be considered for sale suggests that FG understand the difference between semi-states that hold essential national infrastructure and those that don't - meaning they're unlikely to make the same kind of mistakes that messed up the Telecom sale.
By the by, the ESB still owns the National Grid, and are refusing to divest it, so as things stand, the ESB can't be sold without selling the National Grid.

Reilly was just blowing smoke as usual. You'd think at this stage he'd have stop leaving hostages to fortune around.
 

Holy Cow

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The EU/IMF have already stated that any cash raised from the sale of state assets must be used to pay off the bailout.

FG will sell away, just like FF.
 

Baddaddy

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Perhaps because we have to get money from somewhere to try and stimulate new jobs... I'm all for hanging onto the semi-states but lets hear some alternative policies rather than just complaints.
He did say that the funds would be used to create alternative business opportunities, and roll out a country wide broadband service.

But, as with Telecom and Aer Lingus we actually saw a reduction in staff in those companies.

I'm all for efficiency, but we are a small market, and can see UK/European buying these assets at a knockdown price.
 

cricket

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This is where Labour should put clear daylight between themselves and FG. Things are bad enough as it is with Bórd Gas " competing " with the ESB.
 

LDF

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In recessionary times people still need to heat their homes and use electricity. Light and heat are not luxuries that can be cut back when times are tough. So, utility companies like ESB and BG are largely unaffected by global economic conditions. The valuations that will be put on ESB or BG now would be the same as the valuations put on them two or three years ago.

I wouldn't take Reilly's comments on Aer Lingus too seriously. He is a North Dublin TD weeks away from an election.
 

NunoF

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This is where Labour should put clear daylight between themselves and FG. Things are bad enough as it is with Bórd Gas " competing " with the ESB.
Labour would be all for the state monopolies having a huge and unfair advantage over the competition. After all, you are the left....
 

Fir Bolg

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James Reilly mentioned this on Newstalk.

He said that when FG comes to power every semi state will be looked at with the exception of the National Grid, to assess their prospects for sale.
He was very clear that this was going to happen.

He also said that they may even increase the 25% stake in Aer Lingus, due to the fact we are an island.

Bord Gais was first on the list...

Why would they sell the assets now in the middle of a global recession were valuations would be greatly less.

Is selling an appropriate strategy? given our experiences with Telecom Eireann and Aer Lingus.
Just one more reason not to vote FG.
 

stanley

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By the by, the ESB still owns the National Grid, and are refusing to divest it, so as things stand, the ESB can't be sold without selling the National Grid.

Reilly was just blowing smoke as usual. You'd think at this stage he'd have stop leaving hostages to fortune around.

ESB can be made to do as they are told, they have to high an opinion of themselves as a monopo, the management need a rude awakening as to who they actually work for.

750k for McManus is ridiculous his equiv in UK, larger companies, would be on 250k, the guys under McM will all be benchmarked against, start the reductions at the top and work down.
 

hiding behind a poster

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By the by, the ESB still owns the National Grid, and are refusing to divest it, so as things stand, the ESB can't be sold without selling the National Grid.

Reilly was just blowing smoke as usual. You'd think at this stage he'd have stop leaving hostages to fortune around.
Er, you do realise the ESB is owned by the State?
 

civilserpant

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FG have much of this in their New Era programme, its not a new position. The separating of the wholesale networks from the retail arm is underway with gas and electricity already. The retail can be sold off as a private venture, but its vital the network remains in state control. Thats how Eircom sweated the assets and gave us such crappy broadband investment.

The proceeds are to to be used to establish NEW semi-states in the green energy and telecoms sector exploiting our own resources area. After all, is that not what the left want us to do with our national resources????? You need the capital to do it from somewhere.. esp now the NPRF has been bled dry...

Remember, you can't be against everything, the new era proposals were pretty good, but if people always focus on the bits they dont like, then nothing new will ever get done or tried. I'd see Labour going along with it, its the only credible stimulus package available to us I've heard of.
 
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hiding behind a poster

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This is where Labour should put clear daylight between themselves and FG. Things are bad enough as it is with Bórd Gas " competing " with the ESB.
Yeah, imagine forcing the highest-charging electricity service provider in Europe to cut its prices. How rotten for consumers.
 

goosebump

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ESB can be made to do as they are told, they have to high an opinion of themselves as a monopo, the management need a rude awakening as to who they actually work for.

750k for McManus is ridiculous his equiv in UK, larger companies, would be on 250k, the guys under McM will all be benchmarked against, start the reductions at the top and work down.
The ESB is probably the most powerful political organisation in the country, and could eat any political party for breakfast.

Any attempt to take them on in a serious way would involves months of rolling blackouts.

It would be worth it, but no populist Government is going to go anywhere near it.
 

Hooch

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By the by, the ESB still owns the National Grid, and are refusing to divest it, so as things stand, the ESB can't be sold without selling the National Grid.

Reilly was just blowing smoke as usual. You'd think at this stage he'd have stop leaving hostages to fortune around.
The National Grid is owned by Eirgrid, a seperate company, the meters and other elements of it are maintained by ESB Networks.

Yeah, imagine forcing the highest-charging electricity service provider in Europe to cut its prices. How rotten for consumers.
Erm, no.

The CER is forcing ESB to keeps its prices high so that more customers will leave them for its competitors.

The ESB is probably the most powerful political organisation in the country, and could eat any political party for breakfast.

Any attempt to take them on in a serious way would involves months of rolling blackouts.

It would be worth it, but no populist Government is going to go anywhere near it.
This is one of the most ludicrous things I've ever read on this board and that's really saying something.

You think that if ESB are forced to cut payroll costs they'll start cutting off the country's power? :lol:
 


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