> IRISH NEWS ROUND-UP > http://irlnet.com/rmlist/ > > Tuesday/Wednesday, 6/7 June, 2000 > > > 1. MANDELSON DIGS A GRAVE FOR PATTEN > 2. Rulings benefit loyalist murderers > 3. South African lawyer to mediate as Garvaghy crisis looms > 4. European Court slams British government > 5. Sectarian attack targets tourists > 6. McBride parents welcome assessor's report > 7. Feature: Unionist hypocrisy elects Belfast mayor > 8. US activists attend INA annual conference > 9. Analysis: Eircom's lack of vision > > > ------------------------------------------------------------------- > > > >>>>>> MANDELSON DIGS A GRAVE FOR PATTEN > > > The Policing (Northern Ireland) Bill received its second reading > in the House of Commons on Tuesday, with only the most minor > concessions being made by Secretary of State Peter Mandelson to > the concerns of republicans and nationalists. The bill still > constitutes what Gerry Adams called the "emasculation" of the > Patten Report. > > Although Mandelson told the House of Commons that he had an "open > mind" on possible amendments and that the Bill could be further > "fine-tuned" as it goes through the Committee stage, thus far the > only 'concessions' on the table are on the retention of the > proposal to change the working title of the police service and on > the powers of the new Police Board. Whilst he conceded that the > Bill had placed too many limitations on the power of the Police > Board - which will replace the Police Authority - to order > inquiries, Mandelson nevertheless retained formidable powers > controlling the workings of this and other regulatory bodies. > Further, serving officers, unlike new recruits, will still not be > required to take a new oath as recommended in Patten. They will > merely be required to undergo retraining on human rights and to > sign up to a new code of ethics. > > Mandelson will also have the power to decide on the issue of > emblems, and the name of the RUC is to be incorporated in the > "title deeds" of the proposed act - although during Tuesday's > lengthy debate, no one was able to define exactly what such a > title deed actually is. A Unionist and Conservative amendment, > retaining the name and emblems of the RUC intact, was defeated. > > Republicans have made clear that Patten represents only a > starting point for a transformation of policing in the Six > Counties, the bare minimum level of change required to begin to > create a police service acceptable to the nationalist population. > It does not, and should not, represent some far-distant ideal or > vague, unachievable aspiration which can be constantly blocked by > unionist opposition. > > Mandelson's dilution of Patten could have profound implications > for the entire peace process. It could also have a serious impact > on what has hitherto been solid support for the Agreement by > nationalists in the Six Counties. > > At a press conference in Westminster on Tuesday, Sinn Fein's Pat > Doherty, who was with fellow Assembly member Gerry Kelly as part > of a party delegation lobbying on the bill, said that policing is > a "touchstone issue for nationalist and republican people. It is > very, very serious. We need a new policing service; we were > promised that in the Good Friday Agreement and it must be > delivered. There isn't a single nationalist out there who hasn't > had a horror story with the RUC." > > On Wednesday, Sinn Fein President Gerry Adams said: "The > British Secretary of State is reported today as claiming that his > Police Bill is "all about balance and negotiation". The Police > Bill should have been about implementing the Patten report. > > "The reality is that in its current draft the Police Bill > requires at least 75 changes to bring it into line with the 175 > recommendations that came from the Patten Commission. Many of > these are on fundamental issues. > > "After yesterday's second reading of the Bill, many of these > issues remain unresolved. Instead, Mr. Mandelson indicated that > he was prepared to consider amendments to his Bill. He has also > said that it remains his preferred option that a legal > description in the Bill would incorporate the RUC title. This is > not good enough. > > "The Mandelson Policing Bill is flawed in significant and > unacceptable ways. Sinn Fein has identified all of this in > detail and we have engaged both the British and Irish governments > in an intense and focused way for some time now. > > "Other political parties, as well as a range of religious, human > rights and justice groups, have also made representation. In fact > there has been an unprecedented response to the emasculation of > the Patten Report. Unionist rejection of the Bill should not > change this. Neither should any nationalist party have voted for > the Bill." > > > -------------------------------------------------------------------- > > > >>>>>> Rulings benefit loyalist murderers > > > Two decisions have confirmed a belief among nationalists that > their lives are worth little to the North's judicial system. > > First came the Appeal Court quashing of the conviction of > Garfield Gilmour for the sectarian murder of three Catholic > children, the Quinns of Ballymoney. And then the Chief Coroner's > announcement that there will be no inquest into the death of > Robert Hamill, a Portadown Catholic kicked to death by a loyalist > mob. > > On 12 July 1998 the sectarian petrol bomb attack in which three > brothers, Richard (11), Mark (10) and Jason (9) were burnt alive > shocked the world. The killing of the three Quinn children, their > screams as they died in the inferno which had been their home, > was an "appalling barbarity", but barely two years after their > deaths the Six Counties' Chief Judge has chosen to compound > rather than condemn that barbarity. > > Petrol bombing houses was regrettably common, said Judge Robert > Carswell, but only rarely were people injured and most caused > only minor damage. It would be difficult to be certain Gilmour > intended the attack to cause any more than "a blaze which might > do some damage" and intimidate the occupants into moving house. > > The loyalist UVF gang, of which Garfield Gilmour was a part, > drove to the home of a Catholic family living in a Protestant > area. Gilmour saw the petrol bomb glistening in one of their > hands. The bomb contained an unusually large amount of petrol. > > After the attack he chauffeured the gang around the estate for > ten minutes before returning with them to the Carnany estate to > watch the blaze. But according to Judge Carswell, the UVF gang > didn't really intend to do any harm. It was only a little > harmless intimidation. > > "There is not sufficient evidence to conclude that [Gilmour] was > aware that the petrol was contained in an unusually large bottle > which might be expected to cause a larger conflagration and > result in greater danger to the occupants," ruled Carswell. > > This is the same judge who, while presiding over the video show > trials of the Casement Accused, accused a man with severe > learning disabilities, Patrick Kane, of deliberately appearing > less intelligent than he really was. > > Carswell convicted Kane of murder on the grounds that he must > have had it in his mind that one of the possible outcomes was > that the two British soldiers would be killed. Gilmour, however, > confesses to murder but didn't know what was going on. > > Meanwhile the decision by the Coroner's office to deny the Hamill > family an inquest into the death of Robert Hamill underscores the > inability of the Six-County state to deliver justice for > nationalists. > > Sinn Fein Upper Bann Assembly member Dara O'Hagan slammed the > decision as a disgrace. The state has failed Robert Hamill and > his family since the night he was brutally murdered in April > 1997, she said. > > Announcing his decision, Chief Coroner John Leckey described the > circumstances surrounding Hamill's death as "profoundly > disturbing" and would in other circumstances "undoubtable require > that an inquest be held". > > But in consideration of "concerns for the safety of certain > witnesses"whose "lives would be placed in danger if their > evidence were to be given at, or placed in documentary form > before an inquest", the coroner found an inquest should not be > held. > > "This latest decision strengthens the case for a totally > independent inquiry," says O'Hagan, "From the night Robert was > murdered, the actions and inaction of the RUC and justice system > has underlined the inherent sectarian system of justice in the > Six Counties. We cannot allow the cover up of Robert's murder to > go unchallenged." > > The Hamill family will meet Bertie Ahern in Dublin on Thursday, 8 > June, to again press their case for an independent public inquiry > into the killing. > > > -------------------------------------------------------------------- > > > >>>>>> South African lawyer to mediate as Garvaghy looms > > > Brian Currin, the South African human rights lawyer and former > judge, has agreed to hold 'pre-mediation' talks with both the > Garvaghy Road residents and Portadown Orangemen in a further > attempt to head off another Orange Order-orchestrated stand-off > at Drumcree church next month. Currin, who represented many of > those giving evidence to the Truth and Reconciliation Commission > in South Africa, is also the joint chairman of the Six-County > Sentence Review Commission. > > Residents' leader Breandan Mac Cionnaith told An Phoblacht that > Secretary of State Peter Mandelson suggested the involvement of > Currin some time ago to establish whether further negotiations > between all the parties were likely to be more fruitful than > previous efforts, which were run by Tony Blair's Chief of Staff > Jonathan Powell and Security Minister Adam Ingram. The Prime > Minister has already stated his wish to see an Orange march go > down the Garvaghy Road this year, a statement which effectively > disqualifies the British government from acting as mediators. > > "This has been ongoing for some time," said Mac Cionnaith, "and > there is a need for another person - not someone from the British > Government, who have their own agenda - to be involved. Brian > Currin doesn't have any particular axe to grind." > > Currin has reportedly insisted on complete independence and to > this end any talks will be funded by the Joseph Rowntree > Foundation, a research charity, rather than by the British > Government. His spokeman said earlier this week that he is > "distanced from all parties - and that includes any Government". > Currin had wanted to wait until Wednesday, 7 June, before making > any formal announcement of his involvement but it seems likely > that this latest initiative, which was revealed in The Sunday > Times on 4 June, was leaked by the NIO in its increasing > desperation about the possibility of serious disturbances by > supporters of the Portadown Orangemen. Notorious loyalist Johnny > Adair has already said that he will support any protest if > permission to march is refused, a comment which raises the > sinister possibility of wider UDA activity in the area. > > Judge Currin's changes of success appear to be slim, particularly > since the announcement by Portadown Orangemen that the lodge has > applied for a permission to march on 2 July, not 9 July as > originally envisaged, although the application for a march on the > latter date does still stand. This is clearly an attempt to > stretch the security forces to breaking point and gives Orange > Order supporters almost two weeks to "dig in" before 12 July, > rather than only four days, and create maximum disorder. > > In a statement issued on Wednesday, the Garvaghy Road residents' > Coalition said that an arson attack at St John the Baptist > Catholic Church on the Garvaghy Road was definitely malicious. > Smoke and fire damage was caused to the entrance foyer. "It's too > early to say who was behind this attack, but we believe a > sectarian motive should not be ruled out," said a residents' > spokesperson. > > > -------------------------------------------------------------------- > > > >>>>>> European Court slams British government > > > Once again, the British government has come under the spotlight > of the European Court of Human Rights in Strasbourg and once > again its human rights practises have been slammed. > > On Tuesday, the Court gave its ruling on two cases brought > forward by two former republican POWs, Gerard Magee and Liam > Averill. > > In the case of Gerard Magee, the Court found the British > government in unequivocal breach of one of the most important > articles of the European Convention on Human Rights. > > It ruled that the County Antrim man was denied a fair trial > because he was refused access to a solicitor during the > interviews that led to his conviction. The British government was > ordered to pay #10,000 in legal costs and expenses. > > Gerard Magee was arrested in December 1988 and detained in > Castlereagh over two days without access to a solicitor. The only > so-called evidence used by a Diplock court in 1991 to convict > Magee was his own statement. The statement was beaten out of him > during the 48-hour period during which he was denied access to > legal advice. > > He then appealed his conviction, but this was dismissed by the > Six-County Court of Appeal in 1994. He subsequently lodged an > application with the European Court of Human Rights but served > the majority of his ten-year sentence. > > A solicitor acting for Magee said: "This decision, taken in > conjunction with the European Court's decision in the case of > Murray, raises the prospect that any conviction over the last 12 > years based on confessions obtained in Castlereagh or Gough > Barracks in the absence of a solicitor will be open to challenge > on the basis that they are unsafe and in breach of the right to a > fair trial." > > In the case of Liam Averill, the court ruled that his basic human > rights had also been violated because he too had been refused > access to a solicitor during the first 24 hours of questioning. > > Both cases are a further indictment of British government > practises and highlight the need for a total overhaul of the > policing and so-called justice system in the Six Counties. > > Patricia Coyle, Solicitor of Madden & Finucane, Solicitors, > acting for Mr Magee stated on Tuesday: "This decision, > taken in conjunction with the European Court's decision in the > case of Murray, raises the prospect that any conviction over the > last 12 years based on confessions obtained in Castlereagh or > Gough Barracks in the absence of a solicitor will be open to > challenge on the basis that they are unsafe and in breach of the > right to a fair trial." > > > -------------------------------------------------------------------- > > > >>>>>> Sectarian attack targets tourists > > International visitors touring the north of Ireland were targeted > in a sectarian attack when their vehicles were destroyed by fire > in the early hours of Tuesday morning. The back-packing tourists > were evacuated from their hostel when three minibuses and a car > parked outside were set alight. All four vehicles carried > southern Irish registrations. > > The tourists from Australia, New Zealand, South Africa and the > United States were staying overnight at the Linen House Hostel in > Kent Street, close to the loyalist Shankill Road. Around 150 > guests were evacuated to the nearby Catholic parochial hall where > they stayed for 30 minutes while the blaze was brought under > control. > > The total cost of the damage is estimated at around #150,000. A > dismayed driver said he had only recently begun leaving the > vehicles outside the hostel because he believed it was "fairly > safe". > > > -------------------------------------------------------------------- > > > >>>>>> McBride parents welcome assessor's report > > The parents of Belfast teenager Peter McBride have welcomed > comments made by the Independent Assessor on Military Complaints > condemning the delay by an Army Board deciding the future of the > two guardsmen convicted of his 1992 killing. > > The comments by the Independent Assessor, Jim McDonald, are > contained in the annual report of the body published on Monday. > In it, McDonald criticised the delay of the Army Board and voiced > the concerns of many 'across the community' at the original > Ministry of Defence decision to retain the two soldiers despite > their murder convictions. > > In his earlier 1999 report, the Independent Assessor also > referred to the controversial case, saying, "it was inappropriate > that they... (Guardsmen Mark Wright and James Fisher)... were > subsequently reinstated in their regiment" following their > convictions. > > Jean McBride, mother of the 18-year-old victim, said: "This agony > has gone on too long. We have had to fight to overturn a decision > that should never have made in the first place. These men should > have been dismissed as soon as they were convicted. The comments > by the Independent Assessor give us hope that others in positions > of authority will finally do the decent thing. If they are not > dismissed I can promise the Prime Minister that we will haunt him > until they are." > > > -------------------------------------------------------------------- > > > >>>>>> US activists attend INA annual conference > > > It rained all weekend, but the action was all inside. And not > only in the casinos. Considering the whirlwind that has been > Irish politics over the past few weeks and the confusion that > some in America may feel towards the way forward, the Irish > Northern Aid AGM was one of the best attended ever, unusually > upbeat, productive and focused. > > The meeting began Friday evening with the national regional > directors and the Executive to discuss technical and > organizational matters. > > But the action started on Saturday morning with the political > education and fundraising reports which were delivered to a > standing room-only meeting hall. Mary Lou Powner, New Jersey > regional director and host of the 2000 AGM, welcomed INA members > from throughout the country and presented the busy weekend's > agenda. > > On the walls surrounding the room were large photographs of the > 20 Sinn Fein councillors who are under active death threat from > loyalist assassins. It gave all present a sense of the reality of > politics in the occupied counties and just how serious and > intense the struggle for justice and democracy still is. > > Pat Treanor, who heads Sinn Fein's Foreign Affairs/North America > desk, opened the meeting with his assessment of the current > situation. He felt that Noraid members were very well informed by > members of SF who had come out to meet with us; however, they > must be careful, however, about media twists on what is > happening. > > "The Irish Peace Process is very popular," he said. "There are > more people throughout Ireland and the world who support the > republican analysis of the situation than ever before. Our job > and your job is to tap into that support and bring it to bear > onto the difficulties we must face." > > Gerry Coleman, INA's national Political Education Director, > pointed out the recurring pattern of a Unionist-begrudged > agreement to move forward, closely followed by obstruction, > reneging, and receiving further concessions from the British. > This is likely to be the case for as long as part of Ireland is > under British control. Gerry said, "It is all about politics, and > it is not about arms. We can't allow ourselves to be > sidetracked." > > Jack Kilroy, mid-west regional director, reported on the > deportation cases. The INS has essentially stopped this tactic as > a direct result of our efforts, but the cases are still in the > system and the issue must continue to be addressed, he said. With > the peace process advancing, it was felt that these cases would > be resolved, but apparently there is still a long battle ahead. > > Dennis McKee, Pennsylvania regional director and noted for his > dedication to fund raising, gave a presentation to the AGM on > general fund-raising principles that can be applied to almost all > areas of the country and circumstances. > > For example, he mentioned that too often units spend a great deal > of time planning and running fund raisers, but don't pay enough > attention to the bottom line. Keeping expenses down is just as > important as bringing money in, he said. > > After lunch, Sinn Fein's Declan Kearney, speaking for Coiste na > n-Iarchimi, the Republican Ex-POW Committee, provided a powerful > political and emotional basis for Irish Northern Aid activists to > continue their support of prisoner issues and the Republican > Movement, as they have throughout our history. > > In the New Lodge area of Belfast, for example, a very large > percentage of the population went to jail for their political > beliefs and now suffer unemployment rates up to 85%. > > He made a powerful case that the fight against criminalization of > imprisoned Irish-republican activists -- the same battle that was > fought in the jails by the Blanket Men, and in which Bobby Sands > and his comrades died -- is still being carried on by Irish > ex-prisoners of war outside of their prison cells. > > Declan said that Irish Prisoners of War will always have a > special role to play in the new Ireland that they are in the > forefront of trying to create. That is why they continue to be > singled out by the British government for special treatment. They > are special. And Irish Northern Aid needed to continue to fight > against the criminalization of these Irish patriots -- not only > for what they did, but for what they are doing and will do to > achieve Republican goals. > > > -------------------------------------------------------------------- > > > >>>>>> Feature: Unionist hypocrisy elects Belfast mayor > > BY LAURA FRIEL > > > > Sinn Fein is "incapable of representing all the people" of > Belfast city but Sammy Wilson of the DUP can? The Sammy Wilson > who as Belfast Mayor in 1986 was caught wearing his chain of > office at an Ulster Resistance rally at the Ulster Hall? > > The same DUP councillor who proposed a resolution congratulating > the UDA death squad who assassinated Sinn Fein Councillor Eddie > Fullerton in 1991? Who described Sinn Fein voters as "sub human > animals" and once declared "Taigs aren't ratepayers"? > > The Ulster Unionists Party's decision to thwart Sinn Fein's hopes > of electing their longest-serving city councillor, Alex Maskey, > as mayor last week in favour of the DUP's Sammy Wilson was not > simply an act of bare-faced hypocrisy, it was also blatantly > sectarian. > > The Ulster Unionist Party justified their vote by saying that > Sinn Fein does not attract cross community support and is > incapable of representing all the people of the city. Their > comments sounded all the more hollow following the exemplary > record of Sinn Fein's Marie Moore, who served as deputy mayor > last year. > > The Ulster Unionist Party also nominated a member of the loyalist > Ulster Democratic Party, which is linked to the UDA, Frank > McCoubrey, as deputy mayor. The UDA is currently engaged in a > bloody feud with the UVF, the latest victim of which, Martin > Taylor, was buried less than a week before the City Hall vote. > > But this is not the first time the UUP have been involved in a > sectarian head count at the City Hall. In 1994, Hugh Smyth of the > Progressive Unionist Party, a party linked to the loyalist UVF, > was elected as Belfast mayor with the support of the Ulster > Unionist Party. > > At the time of Smyth's election, the UVF were not on ceasefire > and in 1994 they were engaged in a brutal sectarian killing > campaign in which 25 people died and many more injured, almost > all in random sectarian attacks. > > The attacks included the brutal slaying of Margaret Wright, who > was battered and shot to death in a loyalist drinking den in the > mistaken belief she was a Catholic. Pensioner Roseanne Mallon, > shot repeatedly in the back as she watched television in a > relative's house in Tyrone. Two Catholic students, Gavin McShane > and Shane McArdle, both 17 years of age were shot dead, six > Catholic football fans were gunned down as they watched a match > at a pub in Loughinisland, County Down and pregnant mother of > five Kathleen O Hagan was killed in Tyrone. > > The unionist benches at City Hall were packed to capacity for > Thursday night's mayoral vote. UUP Assembly members Michael > McGimpsey and Reg Empey, who also hold seats on Belfast City > Council, rushed from meetings at Stormont to cast their votes for > the anti-Agreement DUP and loyalist UDP candidates. > > The bitter differences between the loyalist political groupings > the PUP and UDP, fuelled by the current bloody feud being waged > between the UVF and UDA, were momentarily suspended as PUP > councillors voted in support of the UDP candidate for deputy > mayor. > > But it was still close. By a margin of 26 to 24, in a recorded > vote, DUP councillor Sammy Wilson was elected mayor and UDP > councillor Frank McCoubrey deputy mayor. The irony of Sammy > Wilson, a bitter opponent of the new Assembly, securing the post > courtesy of the pro-Agreement councillors of the UUP and PUP was > lost in the rush to deny Sinn Fein the position. > > Maskey's mayoral bid was further undermined by the absence > through ill health of SDLP councillor Carmel Hanna and dissident > Alliance councillor Danny Dow's defection following his party's > decision to back Sinn Fein. > > Afterwards, Sinn Fein councillor Alex Maskey described himself as > "disappointed but not surprised". Unionists had collapsed the > election of the city's mayor into a "sectarian headcount," he > said, a view echoed by the SDLP and Alliance Party. > > SDLP group leader Catherine Molloy labelled the election "a night > of shame". The unionists had used the hard arithmetic of this > election to take all the top positions for themselves, she said. > > Alliance Party councillor David Alderdice described the position > of the UUP as "sheer hypocrisy". They are not prepared to support > Sinn Fein but they were prepared to vote for a candidate > associated with the UDA and UFF, he said. > > 1994 was the year in which UUP councillors elected loyalist UVF > representative Hugh Smyth as Belfast City mayor. The following > were killed by the UVF in the same year: > > Cormac McDermott (31) Catholic electrician, 27 Jan > Mark Sweeney (31) Catholic taxi driver, 3 Feb > Francis Brown (38) Catholic, 11 March > Margaret Wright (31) mistaken for a Catholic, 6 April > Ian Hamilton (21) 12 April > James Browne (48) Catholic newsagent, 28 April > Roseanne Mallon (76) Catholic pensioner, 8 May > Eamon Fox (44) Catholic electrician, 17 May > Gary Convie (24) Catholic builder, 17 May > Gavin McShane (17) Catholic student 18 May > Shane McArdle (17) Catholic student 18 May > Martin Doherty (35) IRA Volunteer, 21 May > Maurice O Kane (50) Catholic shipyard worker, 9 June > Gerard Brady (27) Catholic taxi driver, 17 June > Cecil Dougherty (30) mistaken as Catholic, 17 June > William Corrigan (32) mistaken as Catholic, 10 July > Adrian Rogan (24) Catholic Loughinisland, 18 June > Daniel McCreanor (59) Catholic Loughinisland, 18 June > Eamon Byrne (39) Catholic Loughinisland, 18 June > Patrick O Hare (35) Catholic Loughinisland, 18 June > Barney Green (87) Catholic Loughinisland, 18 June > Malcolm Jenkinson (53) Catholic Loughinisland, 18 June > David Thompson (48) Protestant, 5 August > Kathleen O Hagan (38) Catholic, 7 August > Sean MacDermot (37) Catholic builder, 31 Aug > > Among the outrageous comments made by the new 'acceptable' mayor of > Belfast, Sammy Wilson, are the following: > > "Irish is a leprechaun language." Irish News, 3 Nov 1987 > > "Leadbelly." Sunday World 17 January 1988. A comment about fellow > Belfast councillor Alex Maskey after he was shot in the stomach > by a loyalist death squad > > "Our message to the perverts who voted for them [Sinn Fein] is > that they will not get anything through this council." > Andersonstown News 5 March 1988 > > "I have no regret that someone openly identified with terrorist > organisations and activities meets his death the same way."Irish > Times 24 Sept 1988 after the loyalist killing of Gerard Slane. > > "The GAA is the sporting wing of the IRA,"Irish News 6 Sept 1989 > > "Would this council be prepared to congratulate all those who > have done a good job on two sides of the border." Sunday World 15 > June 1991 reference to the loyalist murder of Sinn Fein Donegal > councillor Eddie Fullerton > > "5,000 sub human animals." News Letter 3 Sept 1991 voters who > returned Joe Austin to City Hall > > "They are poofs. I don't care if they are ratepayers. As far as I > am concerned they are perverts." Daily Express 1 June 1992 after > gay rights activists had requested the use of City Hall > > "Taigs don't pay rates." Irish Times 12 January 2000 > > > ------------------------------------------------------------------ > > > >>>>>> Analysis: Eircom's lack of vision > > BY ROBBIE MacGABHANN > > > > What's wrong with Eircom, Ireland's privatised telecommunications > company? Last week, they posted annual results for 1999. The > figures showed a 10% increase in turnover and a 15.8% increase in > profits to #426 million. Eircell, the mobile phone subsidiary of > Eircom, reported a 62% increase in customers. They now have over > 1 million phone users and made a profit of #45 million in 1999. > Eircom's internet service grew by 175% to 243,000 customers. > > Despite this news, the value of Eircom shares continued to fall > to #2.49 on the same day as their impressive results. The value > of the shares is now 19% below that of the value of the shares at > flotation price. > > The ongoing slide in the share value of Eircom has dominated > media coverage of the company's activities to the exclusion of > many other important challenges facing Eircom. Grist to the share > price mill was given by Eircom chief executive Alfie Kane, who > said that the initial share price was set too high when Eircom > was privatised. > > Kane told the media at the announcement of the results that "the > advice that we were given was that it (the share price) should > have been priced lower. This advice came from two banks, AIB and > Merrill Lynch, who were paid #58 million for their consultancy > services. > > It turned out that it was, surprise surprise, Finance minister > Charlie McCreevy and Enterprise minister Mary Harney who ignored > the #58 million advice and set the higher share price. Public > Enterprise minister Mary O'Rourke favoured a lower share price. > > The two ministers applied remarkably simple logic by picking a > share price halfway between that recommended by AIB and Merrill > Lynch. > > The share price debacle has overshadowed the real challenges > facing Eircom. The company is a vital state resource. Literally > hundreds of thousands of jobs depend on the telecommunications > network that Eircom controls and develops. > > Wherever you go, politicians as well as business and media > commentators are talking about e-commerce, the knowledge economy > and the information society. Capitalising on the potential of > these economic developments means a massive ongoing investment in > telecommunications infrastructure. > > An example of this is the fixed line network Eircom owns that > runs into most homes and businesses throughout the state. > Cablelink, the TV service provider, was sold more than a year ago > for a price that averages out at more than #1,400 a customer. > They are now investing nearly another #1,000 per customer in > upgrading the copper cable network into a digital fibre optic > network running into each home. Meanwhile, Eircom do not seem to > have the strategic vision necessary to plan such a strategy for > their network. > > Since privatisation, there has only been an obsession with share > price levels. Serious questions of whether Eircom will roll out > fibre optic and new broadband services to rural population > centres has largely been ignored. Broadband services are new > communications technologies that allow much faster transfer of > data and greater amounts of data along phone lines. > > Instead of discussion of these important issues, we have an > endless whining about the 500,000 shareholders who bought into > Eircom last year. It exposes the real drawbacks of privatisation. > The real benefit to shareholders will only be guaranteed by the > company taking on the challenges of developing and investing over > the long term. > > What we have now is an obsession with the short term. The longer > it continues, the more likely the share price slide will be. The > best free advice that McCreevy and Harney should have taken on > board was not to privatise Eircom in the first place. However, as > usual, neither of them seemed to have been listening. Why listen > to free counsel when you can ignore the advice for which you paid > millions? > > > > > > > > > > > c. RM Distribution and others. Articles may be reprinted with credit. > > =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= > RM Distribution > Irish Republican News and Information > http://irlnet.com/rmlist/ > > PO Box 160, Galway, Ireland Phone/Fax: (353)1-6335113 > PO Box 8630, Austin TX 78713, USA mailto:[EMAIL PROTECTED] > > =-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-=-= > > > RMD1000608074615p3 >
