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'public interest' bank director's very handsomely remunerated


DCon

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May 5, 2009
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Figures show disparency in directors' fees

The public interest directors appointed by the government to the financial institutions covered by the State guarantee are paid up to six times more than directors of other State bodies.

Figures obtained by RTÉ News show the directors appointed to Anglo Irish Bank are amongst the highest paid - with Alan Dukes and Frank Daly each receiving almost €100,000 each in fees.

The figures also reveal that State-appointed directors to AIB receive €3,000 for every committee meeting they attend, on top of a basic fee.
A spokesman for the Department of Finance said this evening that the fees reflect the recommendations of a committee looking at renumeration in the guaranteed institutions and that the fees for State-appointed directors are appropriate and relate to the scale of the operations and complexity of institutions involved
In AIB, Dick Spring and Declan Collier receive basic fee of €27,375 and also receive €3,000 for each committee meeting they attend. The number of which they are members of and attend is not available.

At Anglo Irish Bank, Alan Dukes and Frank Daly receive basic fees of €73,600 and a committee fee of €25,760, bringing their total fees to €99,360 each.

At Irish Life and Permanent, Ray MacSharry and Margaret Hayes receive basic fees of €56,250 and Margaret Hayes also receives €7,500 for committee work, which brings her total to €63,500

At EBS, Tony Spollen and Ann Riordan both receive a basic fee of €29,000 each.
RTÉ News: Figures show disparency in directors' fees
 

hammer

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No wonder Alan Dukes is trying to keep the Bankrupt Bank trading :)

Lenny is a lula. Surely he should have fixed the salaries of these patriotic ( my arse ) former top civil servants, ministers.........at €30,000

How amny pensions does Dukes get now.

The rich get richer and the poor pay the bills...................
 

eyeswideopen

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Alan Dukes crucial intervention to support NAMA looks even more unhealthy in this light than it did before. Imo, it was the action of a Bought Man.

The real joke on us is that is that these so-called "Public Interest" Directors are obliged under law to act in "the Companies interest" not the public interest.
 

DCon

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The real joke on us is that is that these so-called "Public Interest" Directors are obliged under law to act in "the Companies interest" not the public interest.
As the State (the public) own Anglo, how does that work?
 

cyberianpan

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I don't understand the negative reaction here

These people are being paid order €100,000 to supervise & tame unruly enterprises that have tens of thousands of staff, tens of billions of liabilities and very complex operations

Furthermore the people they watch : the banking executives - are all on pay of order €300-800k (incl pension emoluments )

We need higher quality, better paid, harder working independent directors ... throwing rocks at everything is not a helpful solution

cYp
 

jelpor

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Nov 11, 2009
Messages
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I don't understand the negative reaction here

These people are being paid order €100,000 to supervise & tame unruly enterprises that have tens of thousands of staff, tens of billions of liabilities and very complex operations

Furthermore the people they watch : the banking executives - are all on pay of order €300-800k (incl pension emoluments )

We need higher quality, better paid, harder working independent directors ... throwing rocks at everything is not a helpful solution

cYp
Yet MORE lies from the banker apologist!!
 

Edo

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it kills me to say it - but I agree with Cyp on this.


wrong target lads - its just a bit of populist ranting by the Fourth Estate that plays nicely for the Government


I wonder would RTE have had the balls to do this if any of these directors were former members of FF?
 

eyeswideopen

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Nov 6, 2009
Messages
260
I don't understand the negative reaction here

These people are being paid order €100,000 to supervise & tame unruly enterprises that have tens of thousands of staff, tens of billions of liabilities and very complex operations

Furthermore the people they watch : the banking executives - are all on pay of order €300-800k (incl pension emoluments )

We need higher quality, better paid, harder working independent directors ... throwing rocks at everything is not a helpful solution

cYp
We need them, but we don't have them.
 
Joined
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22,911
it kills me to say it - but I agree with Cyp on this.


wrong target lads - its just a bit of populist ranting by the Fourth Estate that plays nicely for the Government


I wonder would RTE have had the balls to do this if any of these directors were former members of FF?
Yeah like who is Ray McSharry ??
 

cyberianpan

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We need higher quality, better paid, harder working independent directors
We need them, but we don't have them.
We do, and the prudential role of the independent director is something that has been surprisingly absent from discussions of modern corporate governance ... it's all about their legal obligations... rather sad :(

Compare say to Spain:

Finfacts

Besides central bank intervention, an intense board-level focus on risk is another reason why Spain’s large banks have so far weathered the credit crunch in better shape than many of their European rivals.

The risk committees of the two biggest banks, Banco Santander and Banco Bilbao Vizcaya Argentaria (BBVA), include several external non-executive directors and they meet usually more than one each week.

cYp
 

Fing Fers

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Oct 17, 2009
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We need them, but we don't have them.
The world is suffering as a result of the economic downturn, their must be plenty of dedicated people with genuine interest in sorting out the banking sector, the world is not void of honest hard working people willing to do everything that's patriotically right for a salary within reason. Our Government and our banks don't want outside "interference" they want to keep all the Irish system's close knit and under "control".

Ireland is under the greatest incompetent thumb ever and the thumb requires amputation ASAP.
 

Furze

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Jun 14, 2007
Messages
781
I don't understand the negative reaction here

These people are being paid order €100,000 to supervise & tame unruly enterprises that have tens of thousands of staff, tens of billions of liabilities and very complex operations

Furthermore the people they watch : the banking executives - are all on pay of order €300-800k (incl pension emoluments )

We need higher quality, better paid, harder working independent directors ... throwing rocks at everything is not a helpful solution

cYp
No, I cannot agree. These individuals were put on the Boards to serve the public interest in a time (and still a time) when our political leaders have called on the populus to put the Nation first. They appear now tainted and are "running with the hounds".

I had the preception at the time that these were individuals who had contributed something to Ireland in their past, were men of integrity and would not be bought. That the pensions and/or self-worth would make them "Untouchable" - oh silly me.

They epitomise the Soden mentality
 

powderfinger

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Jun 13, 2007
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It would be instructive and in the public interest for the collective of PID's to appear before the Daíl Committee on Finance and Public Service to report on their activities and findings thus far.
Wouldn't it?
 

Cassandra Syndrome

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Aug 23, 2009
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Settle, settle.

Being a very moderate and tolerant person, I thing the fairest and most efficient way of dealing with this banker / government / mediating accountant and solicitors cartel is as follows;


 

irishpancake

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Apr 5, 2007
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it kills me to say it - but I agree with Cyp on this.


wrong target lads - its just a bit of populist ranting by the Fourth Estate that plays nicely for the Government


I wonder would RTE have had the balls to do this if any of these directors were former members of FF?
+1,

I think :(

But, these PI directors seem to be the same old folk who have fingers in lots of pies, pardon the pun ;)

I can remember both Ray Mac (the Knife) and Dick (Turpin) Spring being involved with the Board of Eircom, for instance, when that company was sold out to the asset-stripping vulture capitalists.

However, I agree with Cyps general point.

The time for throwing rocks at everything is well past.

Time now to knuckle down to working out the best solution for the Nation, perhaps a little practicle patriotism wouldn't go astray.
 

eyeswideopen

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Nov 6, 2009
Messages
260
+1,

I think :(

But, these PI directors seem to be the same old folk who have fingers in lots of pies, pardon the pun ;)

I can remember both Ray Mac (the Knife) and Dick (Turpin) Spring being involved with the Board of Eircom, for instance, when that company was sold out to the asset-stripping vulture capitalists.

However, I agree with Cyps general point.

The time for throwing rocks at everything is well past.

Time now to knuckle down to working out the best solution for the Nation, perhaps a little practicle patriotism wouldn't go astray.
The Nation has been broken in two. Its not a question of throwing rocks, there is a need for housekeeping, with a good new broom, and replacing the present incumbents with people who know what the word Nation means.
 

Furze

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Jun 14, 2007
Messages
781
+1,

The time for throwing rocks at everything is well past.

Time now to knuckle down to working out the best solution for the Nation, perhaps a little practicle patriotism wouldn't go astray.
yes - rocks at everything and not so much as a surgical pebble strike against the Sodenites.
 
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The public interest directors have been assimilated by our Borg like banks. Sean O'Rourke asked Brian Lenihan if Enda Kenny had suggested Alan Dukes. Lenihan said Kenny had approved. Fatal mistake. Trust Lenihan and the FF/Crony Caps on nothing.
 
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