The RTE coverage of the DCC/Fyffes scandal is curious. When the Supreme Court made its decision last July, RTE, of course, reported the event but there was very little in depth analysis.
The case was up again in the Supreme Court on 13th November last. RTE News at One (6th item) reported on proceedings and did an interview with Richard Curran, deputy editor of the Sunday Business Post, but after that it was a virtual blackout.
I have carried out a comprehensive (but not exhaustive) trawl of the various news/current affairs programmes on RTE and have found no further mention of the case.
This is curious because the case is not just run of the mill business interest but is a story of major national importance involving two very important companies that could see costs/awards running to well over €100 million.
It is also, to my knowledge, the first incidence of insider trading in modern Irish history. That fact alone should warrant extensive mainline coverage.
Even allowing that the RTE business section seems to be severely under resourced the lack of interest in the DCC/Fyffes case is puzzling.
I am currently studying a dip in corp goverance and i am a director of a small company. I just think this is ridiculous how such a figure can maintain his position in the company, when you consider the consequences of being a director…. S150 etc.
I was tentatively looking at shares for the long term security for my family, managing our own pensions. I really do believe the ordinary job soap like myself should because there is too much reliance on the professional ‘doing the right thing’ for us and at the end of the day it is about ; real terms;;; short term performance, share price and the shareholder is away down the list — Oh yes they are the people whom we get capital from.
I just read an article from Senator Ross, re Pat Rabbitte and Des O’Malley (pleasure of listening to him for a lecture) and yes he is right. My own opinion, the name two people annoyed me in politics, but from a corporate governance point of view, I would love to have them as Ned, could not afford to pay for them in my small company. The experience knowledge skill, they would ask the challenging questions I would like to ask my husband, but my marriage is more important!!!!!!!!!!!!!, the flip side I should ask as this is part of marriage…. NOT….. so how do you approach the subject.
So if Des or Pat reads this blog, please give advice, if there is a company director out there who is looking for a Ned, then look no further than PAt and Des ( one can excuse their politics), but you know you would be challenges, which is annoying but makes you work at what is best for the company– not you, the company, if the company succeeds, then everyone in general does.
Regards
Marsean