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EVERY WEEKEND, TheJournal.ie asks its readers to put their feet up and take a look back at all the goings-on from the world of business.
So once again it’s time to delve deep inside The Briefcase for all the important – and sometimes less-important – financial news that has come out this working week:
The “absent prince” could be returning to his princedom
Massachusetts judge Frank Bailey didn’t miss when he took aim at David Drumm in his ruling on the former Anglo Irish Bank boss’s US bankruptcy bid this week.
“Drumm’s statements to this court were replete with knowingly false statements, failures to disclose, efforts to misdirect, and outright lies,” Judge Bailey said in his scathing ruling.
The 48-year-old banker filed for voluntary bankruptcy to potentially walk away from €10.5 million in debts – the vast majority of which was owed to the in-liquidation Irish Bank Resolution Corporation (IBRC).
But the judge’s decision not to grant him bankruptcy in the US, where he would have got a smoother ride than under the equivalent Irish laws, opens up the door for him to be pursued for the full sum.
The man dubbed the “absent prince” during the high-profile trials for other Anglo officials was accused of defrauding his creditors through a string of clandestine transfers to his wife Lorraine as the bank he led collapsed in a smouldering ruin.
Judge Bailey rejected Drumm’s “so stupid” defence, adding in his withering 122-page judgement that the banker appeared to be “casting about for any plausible answer but the truth”.
The decision was followed with reports, yet to be officially confirmed, that the Justice Minister had pressed the “go button” on plans to extradite Drumm on up to 30 charges.
Meanwhile, the IBRC was keeping tight-lipped on how much former directors from Anglo and Irish Nationwide – the two firms nationalised and rolled into the now-liquidated entity - owed it in total.
By the end of 2009 there was €166 million outstanding in loans to former directors and managers, but there has been scant information out since then.
At least Drumm’s deeds inspired this charming Dublin mural:
The BT Young Science and Technology Exhibition opened its doors to the public on Thursday and we took the chance to visit the RDS and chat with some of the young entrants.
From probing the benefits of a gluten-free diet to perceptions of feminism, the students weren’t afraid to tackle the big issues.
Take Hannah Allsopp, who raked over 170 years of crime statistics to work out if the media was spinning the truth on murders – or if things had actually got worse.
Maybe we should give her a job.
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If people want to drink let them drink, if they dont then they can stay at home!
We need to change the name to great Friday now
@ricky bobby: won’t someone please think of the off licences! No more panic buying just in case you run out…
No religious at all, but surely people can last the 2 days of the year the pubs (not all) are closed.
@….: That’s not the point at all.
I’m not religious & I also don’t drink – but alcohol is either legal or it’s not, and religion should not be dictating any laws.
@….: The vast majority of us last far more than two days a year of our own accord. It simply isn’t necessary to have an enforced dry day. It doesn’t curb drinking at all. In fact it encourages it. It’s probably the biggest house party day of the year.
@….: surely people who wish to observe good Friday can muster up enough willpower without having state enforced prohibition.
@David McDermott: exactly, isn’t willpower the whole point?
@Conor Hall: Well said Conor Hall.Archaic bollox.We need to separate Church from State once and for all.
Has to be the first time I’ve ever seen this poll
@smithers: Be honest though.. you didn’t expect it in June…
I remember living in london one Good friday. Got the flight home for easter that afternoon.
It was beautiful weather. I was living by the river. It was early afternoon as i passed by on the way home. Everyone out eating food and drinking beer in the bars along the riverbank. It looked such a great sight.
And then i landed home 2 hours later with the country shutdown – in equally good weather.
It really hit me that day what a waste of such a lovely free day by our outdated laws.
Who won in ireland that day? Nobody !!
@TradingDuck: waste of such a Iovely day because you couldn’t drink alcohol ?
@Suzie Sunshine: Because religion was trying to tell us what to do! Free Will, free choice. No pontificating!
@Suzie Sunshine: You should be allowed drink whenever you want and if that’s in a pub yes hell yeah. Stupid fairy religion crap dictating that we can’t drink on a certain day. Move with the times.
@Suzie Sunshine:
On that day in london i referred to, those pubs would have been closed in ireland.
The pub is a place of social gathering. And yes it sells alcohol – but if you only focus on that then it’s such a shame as thats such a one dimensional view on things.
As i stated, passing by the river with so many people including groups of friends and families gathered together having food accompanied by a beer or wine was such an obvious day of pleasure for so many people. Given the great weather that day it was such a great sight to see.
Why is that a negative thing?
If pubs were closed in london that day most people would have been at home.
As i say, given that i saw such a contrast in the space of 2 hours it really hit me that day as to how such a useless law we have.
I won, trading duck, its the national house party day of the year and i met my wife at such a party. Sorry you didnt receive any invites. Off licence and supermarkets also win with trolley loads out the door. But alas its no more.
I work in a bar, is it too much to ask that we get 2 off a year? Religion or not, we deserve that.
@Stephen Nix: you do your 39 hours a week like everyone else!!
@Stephen Nix: if you’re working 363 days a year, you really should take that up with your employer.
@Stephen Nix: excellent idea – every profession should have a couple of government mandated days off per year.
On “IT Appreciation Day”, nobody shall be allowed use a computer.
National “love your taxi driver day” means nobody can drive
Etc
@Stephen Nix: I used to work in the hospitality sector but got out of it as I liked my weekends off. You still had the days off but on different days. There are many professions that can’t close down even one day a year and days off have to be taken on rotation. In any case, just because they may be allowed to open doesn’t mean they have to open
Making friday great again.
Why not?
Who are we to deprive the spiritually impoverished atheist community the opportunity to find solace in drink?. Let the poor divils spend the afternoon looking down the end of a glass.
‘Land ho Columbus’
Carl Ingalls. Do you believe in the sky fairy?
@Carl Ingalls: spiritually impoverished atheists? What about all the other non-catholic religions that are forced to observe this medieval law? It’s not just about atheists you ignorant phuck.
@Carl Ingalls: awww Carl. Bitter that your imaginary friend has lost its grip on Irish society?
@vectorsector: as Ricky Jarvis eloquently put it. “We’re very similar, there are about 3000 gods. You don’t believe in 2999 of them. I just believe in one less”
Remember lads, ye’ll be paying for yissur sins the following morning.
Carl Ingalls. Not when you can go to the early house for the cure.
@Carl Ingalls: boring obvious troll on his 17th account.
@Carl Ingalls: let the bitterness come out. It suits catholicism.
@JJ O Riordan:
A bitter pun?
Very good.
@Carl Ingalls: makes no difference once I feel sorry before I die
@Carl Ingalls: so you expect if the law is changed that only atheists will be in the pubs?
@Carl Ingalls: from a religious point of view it would make more sense closing the butchers than the pubs
@Conor Hall: 17th this year.. although you can see through them very easy.
The off licences will be disappointed!!
@John Boyle: why? Pubs are still closed according to the article
@lavbeer: jaysus me lamps are going !!!
For me, if they want to make it a regular day. Do it. I don’t care….But then it can no longer be a day off either. The ‘holiday’ is based off a religious event, like it or not. So if we don’t recognise it as something important anymore, that’s fine.. but then I’m assuming, unless you are religious. You should work good friday too or go to school. It’s just a regular day, Right?
But That wouldn’t suit the agenda of many. people’s logic is so screwed up in this country.
Chris Kavanagh. Good friday is not a holiday.
@Chris Kavanagh: very good point there . Are people willing to give up their “holiday ” too ??
@ray.farrelly: Nope, you’re right it’s not. Which is why I wrote ‘holiday’…. However.. Schools and many businesses and organization’s recognise it as one and close. But there is no need for them to anymore as many said above’ it is outdated laws’.
So get rid of the law and have a regular school /work day. Right? No problems.
@Chris Kavanagh: I’d gladly work. It’s not my fault schools & workplaces close.
@Chris Kavanagh: Chris your point is void and you are proving everyone elses point for them. Good Friday is not a Public Holiday. Some schools and business decide to close but the Government dont recognise it as a hold day apart from the outdated drink law.
@Suzie Sunshine: no, they are no… But will find a way to justify it and make the masses follow them. Twisted logic is a favorite.
@Paul P O’Sullivan: its absolutely not void. Good friday recognised as a holiday by many business, schools and organisations. Like I said above if you read before you txt. Never said its an official holiday.
And its not ‘some’… Most recognise it. I doubt I’m proving everybodys point unless you think I have that kind of influence. We can pretend all that matters is the old drink law, but for a lot who want to argue. It’s really just more about making their mark and completely burying religion.
Dial a drink is handy on good friday. The drinkers find their drink… And the complainers find their reason… Like this one.
@Conor Hall: like I said, I agree. I just think this is one more excuse for a bunch of bitter Irish people to complain about.
Chris Kavanagh. Still does not make it a holiday.
@ray.farrelly: we both agree. It’s a regular day.
@Chris Kavanagh: “The ‘holiday’ is based off a religious event”
Yeah, The man the religion is based on, Dying on a different date every year. The miracles keep coming /s
There’s an alcohol ban on Good Friday???
proper order about time.
Should we cancel Christmas too. It been a religious feast day
@Rose: Nobody is cancelling anything….what are you on about!
@Rose: yeah, feck it, get rid of Xmas and we’ll go back to celebrating Saturnalia instead, just like everyone did until the church decided it was a good time for the main man to celebrate his birthday.
Sure didn’t JC himself climb down from the cross for a sneaky pint. Someone should add that into the bible and it has to be factual then.
We’re living in the dark ages. Someone needs to wake up and make the right decision. How much money is lost on that day? Country needs it.
@Richard o Rourke: we’re icing in the dark ages ? Try shopping on a Sunday in France .. everywhere is closed !
Jesus christ can we not go 1 day without drink??
@oliverjumelle: I think the plan is to go one day without Jesus Christ
Oliverjumelle. We can go every day without drink if we choose. That’s the wonderful thing about choice.
Well that’s it folks, we are literally living our own stereotypes. The very fact that opening pubs on Good Friday is even in the news speaks tons towards where our actual priorities are.
@Rob Hopkins:
The reason it is in the news is because the law states that pubs can’t open. It has nothing to do with stereotyping Irish as drinkers.
It was one day where bar staff and those in the alcohol industry got a deserved day off but that’s over now, its those workers I feel sorry for.
@Gavin Mckenna: it’s not as if these staff work the other 363 days of the year though
@Gavin Mckenna: poor babies – I’ve worked every Good Friday for the last 15 years, it sucks!
That’s grand so the old GAA and Golf clubs could do with a few euros extra around easter time.
Good to see that they’re dealing with the big issues like homelessness, no correlation between house prices and wages, a crumbling health system, a renegade police force, traffic gridlock for commuters, zero hour contracts etc, to name but a few.
From the point of view of religion the closure of pubs is because we are not supposed to drink alcohol, as it is a day of fasting and abstinence. However, because the reality is that many people do drink on Good Friday (possibly more because if pub closures) it’s completely redundant. Also, we are no longer a nation of mostly practicing Catholics so why is the rule being imposed on everyone?
Good, I do be parching.
Its the only bank holiday that bar workers can enjoy, its not like theyll get time and a half for it either. Stock up and get over it for a day!
It’s not a bank holiday and bar staff are entitled to same amount of time off as everyone else.
I find not being able to by beer if shopping on Sunday morning far more annoying than the good Friday rule
It’s absolutely stupid not including pubs,
@Mick Hannigan: pubs are included the amendment is to include clubs hotels etc
Cant ppl stay out of the pub,for 2 days in the year?
@billy Dorney: I stay out most days of the year. But it’s my choice. Why do Catholics think they should make rules for everyone else?
Watch out for the publicans giving out about their staff complaining about having to work on that day as they want more pay!!!
Hmm so we pick and choose what parts of catholicism we want. Keep Xmas, Easter, church weddings etc, but get rid of good Friday, lent etc. It’s 2 days a year that we can’t take a substance that kills at least 5 Irish people a day, get over it!!.
Good Friday Agreement tag missing. Missed opportunity. :’(
Believe in what ever invisible man in the sky you like but when it stops me having a pint on a Friday afternoon that’s when I’ve a problem
It’s a disgrace *hic*
Slainte!!!
As The Good Lord said, “It’s not what you put into your mouth, but rather what comes out of it, that causes sin”. Hallelujah Jeesusss!!!
Two days of the year and people can’t do without drink.pathetic.
@Red hurley: Most people go a lot more than 2 days, But they also get to choose the days they do drink. It shouldn’t be dictated by silly superstitions.
Why not open just open at 9? Jesus would be totally cool with that.
have your say