Roddy Molloy has pension boosted by €1.4m by Minister

draiocht23

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This is a major scandal - Roddy Molloy, the former FAS CEO who resigned in ignominy last year, has had his pension boosted by two Ministers, who are now blaming each other for the debacle.

According to the Sindo, "when Mr Molloy resigned, Tanaiste Mary Coughlan intervened to bump up his pension and the move was rubber stamped by Finance Minister Brian Lenihan".

Molloy resigned "only after the Tanaiste 'sweetened the deal' by adding five years to his service. By doing so, Mr Molloy saw his 'Rolls Royce' pension increase in value overnight by an estimated €1.4m".

Apparently, this was done in case Molloy brought the government to court.

So, Molloy's pension is now worth in excess of €4 million! And we have since had those revelations about the vanishing car and the €600K ad that failed to be broadcast.

Instead of firing the dolts who presided over this mess, Minsiter Coughlan has been busy beefing up their pensions.

I'm actually stunned.

We have had disgrace after disgrace heaped on our shoulders - this should not be allowed to be filed away in the vault.

Accountability, much?

Disgraced Fas chief's €1.4m hike in pension - National News, Frontpage - Independent.ie

Edit: Can a mod fix the headline, at some point?
 
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Pauli

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There is no end to this criminality, it seems. Coughlan has to go. Her behaviour in office is truly sickening.
 

draiocht23

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There is no end to this criminality, it seems. Coughlan has to go. Her behaviour in office is truly sickening.
Yeah, she has the power to fire the FAS board but how can we get rid of her?

And how can they justify this pat on the back for someone who was clearly incompentent and abusing his position?

Arrrrghhhh!!!!

Sorry, words fail me. I may be going mad.
 

draiocht23

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So I think we can all agree FAS is a bad joke . Why does it still exist ?
It's not FAS per se. But the board definitely stopped being funny quite a while ago.

Minister Coughlan has ceased being amusing as well...as has the government in general.

This is a complete joke.

How can we punish the man who kept upgrading himself when flying abroad, and oversaw the wasting of hundreds of thousands of Euro? By giving him early retirement and bumping up his pension of course - is this reverse pension-ology?
 

stewiegriffin

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FAS surely cant survive either tho , can they? We are supposedly in challenging times . They have surely proved themselves to be not up to the task . Maybe its just the beer talking ,but i think there is something rotten in denmark. Theay should go the way of ANCO and disappear imo . night night .
 

JPK

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I'm not suprised anymore by any of this. Shur Cowen said he was a great man at the time and Coughlan gets away with murder and nothing will happen her.
 

greengoose2

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The l'Oréal People - "Because they are worth it"...

These guys are the puppeteers and Cowen is the chief puppet with the vulgar Donegal Lass as his lieutenant.

Why do people even listen to these buckos? Why do the push the Lisbon thing? Those questions might give the stupid electorate some indications of what a huge mistake they [the electorate] will be making on October 2!

Only in Ireland.
 
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Mar Tweedy

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Not sure how they work out that 5 years extra service is worth those amounts. 5 years extra service would add 1/8 on to a public service pension (5 years being 1/8 of 40 years for a full service pension) and would give some extra amount to a lump sum but €1.4 million? I think Mr and Mrs Molloy will have to live for quite a long time to work up that amount.

The conversation went something like this:

Minister Coughlan: I'm sorry Roddy but you have to go.
Mr Molloy: But Minister, you knew, Mary Harney and her husband knew, Micheal Martin knew the good times were rolling in FAS and did nothing. Why should I alone walk the plank?
Minister Coughlan: Look, we'll make sure you're alright. You've been a great public servant, would 5 years onto the pension ease your worries that others are more responsible? (and more importantly keep you quiet)
Mr Molloy: done.

Yeah yeah, its us who've been done by FAS - but accountability for that rests with successive Ministers.
 

CookieMonster

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When we have our Government awarding themselves and others for unbelievable f**kwittery is it any wonder we are in the mess we are in?
 

nonpartyboy

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It really is becoming quite clear,the only sure way to get rid of these wasters quickly is to defeat lisbon2 as their "mandate" will be non existant no matter how they try and spin it.
 

DCon

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Surely this justifies a vote of no confidence in Sweary Mary?

That, and the fact that Molloy is still on a Quango board somewhere.
 

asset test

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There are so many revelations of dodgy dealings and looking after their friends, expenses over runs etc. etc. that I for one am punch drunk listening to it all. Nothing will surprise me any more. There appears to be a thin veneer of a functioning government visible, but like a duck what is below the water cannot be seen.
 

anlkestony

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Was gonna vote yes for Lisbon but these incompetent greedy shower of thieves are making me switch towards the no side.

In FF some people are more equal than others (ie Senior Public Servants (FF Hacks), Builders/Developers and Banks).
 

Hal

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Is it reading or understanding you people have a problem with?

Is it not quite clear from the article that they only did this because if they did not, the little git would have taken the State (That's us, btw) to court and most probably would have won his case, thereby costing us a lot more in the long run.
 

asset test

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Is it reading or understanding you people have a problem with?

Is it not quite clear from the article that they only did this because if they did not, the little git would have taken the State (That's us, btw) to court and most probably would have won his case, thereby costing us a lot more in the long run.
But if the Government had had the cojones to sack him without a package, any case for breach of contract or unfair dismissal would have been transparent, and he might have lost the case. He would have had to incur costs of one sort or another. He would have had to face publicity about his term in office at FAS and would have had to explain what he was up to.

No, don't let the people know anything. They are only paying this man's pension after all. That just would not do at all.
 

Cato

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Is it reading or understanding you people have a problem with?

Is it not quite clear from the article that they only did this because if they did not, the little git would have taken the State (That's us, btw) to court and most probably would have won his case, thereby costing us a lot more in the long run.
That's why they should have gone down the route of dismissing him for gross misconduct/incompetence. But they couldn't do that because several senior politicians were also in on the gravy. So they did a sweetheart deal with him instead.

This whole thing stinks. Couglan is a disgrace and her current position and indeed past political successes is a sad indictment of the Irish political system.
 


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