Premium Essay

Irish Stakeholder (2007)

In:

Submitted By supermausz
Words 388
Pages 2
Quinns taking 15% Anglo Irish stake http://www.rte.ie/news/2008/0715/anglo-business.html The Irish Businessman Sean Quinn, chairman of the Quinn Group and his family, want to convert their interests in Anglo Irish Bank from Contracts for Difference (CFD’s) to ordinary shares. CFD’s are financial derivatives that allow traders to take advantage of prices moving up, also known as long positions, or prices moving down, namely short positions, on underlying financial instruments. These methods are often used to speculate on those markets. The investors have the opportunity to bet on future direction of a stock without having to actually buy the shares. Generally, they have to stump up only between the range of 10% and 20% of the entire price.
Sean Quinn and his family are the owners of the Quinn Group, who are the only stakeholders in this case. Their aim is to regards these shareholdings as a long term holding for the future. Sean Quinn bought CDF’s for €1 billion to build up his stake. In case of converting his holdings, this action could result in a loss of approximately €500 million, which would constitute a great threat, since Mister Quinn is a large stakeholder. Due to the fact that these contacts fall outside normal disclosure rules in relation to shareholders with large stakes in stock market quoted companies, it is formally impossible by using the CDF’s. Furthermore, CDF’s are very risky – When one does not invest, one has to bet which remains a problem for the stakeholder, Mister Quinn, of the Anglo Irish Bank.
This case was 2008, at this time Sean Quinn was the richest man of Ireland. Nevertheless, he bet to a great extend which causes further and serious problems. Only three years later, in 2011, he declared himself bankrupt in a Belfast court, making him the biggest bankrupt in UK history. If all he had done was buying shares, his losses would have

Similar Documents

Free Essay

All My Life for Sale

...James Austin RHET 105 All My Life For Sale Gold Cross Necklace: This Hawaiian manufactured gold cross necklace is the perfect combination of sophistication and subtlety. The simple, lightweight build of the gold chain in combination with the cleanly designed gold cross presents a stunning necklace. This necklace was purchased and resided in Maui with my grandfather for about 15 years. Worn daily, this necklace has been all around the world including incredible destinations such as Ireland, France, England, Africa, Japan. This necklace has given strength and power to my grandfather to help overcome life obstacles while also providing security when accomplishing great things. When it was past down to me, this necklace has seen many of my accomplishments like my confirmation and graduation. Having seen many beautiful sites and endeavors, this simple gold cross necklace has provided me with a gateway to my grandfathers past accomplishments and always reminds me to never stop working hard. Price: $1,000 Gold Notre Dame Mini-Helmet: This miniature Notre Dame gold football helmet will be a prized possession for any true Notre Dame Football fan. The details in the structure of this helmet are very realistic. The actual padding inside the helmet, the face guard, and mouth protector make your feel as if you are in the game yourself. My grandfather was a University of Notre Dame graduate in 1953, and ever since then he has been all about supporting Notre Dame. This helmet...

Words: 313 - Pages: 2

Premium Essay

Strategy Management

...Q1 Using Pestel Analysis, identify what environmental factors are affecting big pharmaceutical companies strategically? Introduction Johnson and Scholes (2002) p10 define strategy as “the direction and scope of an organisation over the long term, which achieves advantage for the organisation through its configuration of resources within a changing environment and to fulfil stakeholder expectations.” The purpose of an environmental scan is to develop a list of diverse variables from an uncertain and complex world to offer actionable responses and in so doing allow a structured framework for defensive or offensive actions. The Pharmaceutical Industry environment is an ethical drugs industry aimed at providing beneficial products and services for human consumptions as well as chemical medicaments and biotechnology. The 21st century has brought about changes within the pharmaceutical industry. The pharmaceutical industry today is highly competitive non-assembled global industry. To define the non-assembled aspect of the industry is where manufactures components parts or materials are relied on for example glass, woodwork and chemicals. It was in the sixties and seventies that the pharmaceutical industry was to expand rapidly as it was a period referred to as the spending boom. Research and development (R and D) was also a major investment and trust which was provided for Universities and education institutions. Pencillin which was the major discovery in the pharmaceutical industry...

Words: 2317 - Pages: 10

Free Essay

Touch'in Paris

...Paris Course Title:        Lecturer Name:         Module/Subject Title:         Assignment Title:                Company:      Date due:                                 | BA (Hons) MarketingSandra KernanInternational Marketing/ B8MK106Future of DiningTouch’ In Paris04/04/2016 | N° of words: | 2756 words (excl. Table of Figures, Executive Summary, Table of Contents, Figures, Appendix, Minutes of Meeting, Individual Contribution and References) | Student Names: | | Executive Summary This research paper aims to analyze internal and external factors concerned with the expansion of “Touch’ in Paris” into the Irish market under the name “Touch’ in Dublin”. Internal analysis will give you an insight of what kind of internal issues and obstacles we may encounter. External analysis will focus towards understanding the Irish food industry and will give you an insight of current market conditions. Modes of entry will give you an insight and an explanation of which approach we are suggest to enter the market. Overall, this research paper will guide you through all the analysis that we conducted and will allow you to better understand the risks as well as rewards associated with opening a natural-monopoly business as it is one of a kind. Table of Content Chapter 1: Introduction Chapter 2 : Internal Environment (PRIMEFACT) 1) People8 2) Reputation8 3) Intellectual Property8 4) Market Information9 5) Ethos9 6) Finances9 7) Agility9 ...

Words: 12944 - Pages: 52

Premium Essay

Erikson Leadership Statement

...Business Management: Organizational design for national and pan-European companies, from C- level through commercial, operational and support. Advising on strategic direction, enhancing levels of customer service, and driving growth. Innovation: Go-to-market strategies for new carrier services, from the customer handset experience through to network dimensioning and costing, including the full operator value proposition. PROFESSIONAL EXPERIENCE 2007 - Acuhealth Ireland Owner/Director 2003 - 2007 Ericsson Business Adviser, Market Unit NW Europe 2001 - 2003 Ericsson Principle Consultant – Global Expertise Centre 1999 - 2001 Eircom PLC Senior Product Manager: Data and IP Services 1997 -1999 Eircom PLC Key Account Manager EDUCATION & PROFESSIONAL QUALIFICATIONS MSc Research BA (Hons) in Management 2000 Middlesex University (Ongoing) Irish Management Institute Diploma in Information Technology 1995 Dublin City University Telecommunications 1985 First, Dept of Post and...

Words: 1087 - Pages: 5

Free Essay

Ireland Plastic Bag Tax

...Table of Contents INTRODUCTION 2 I. LITERATURE REVIEW 3 I.1 Externalities 3 I.2. Environmental tax 5 II. THE LEVY ON PLASTIC BAGS IN IRELAND 8 II.1. Summary 8 II.2.The nature of the levy 10 II.3. Implementation and enforcement 12 II.4. Results and impacts 12 III. LESSON FROM PLASTIC BAGS LEVY IN IRELAND 17 III.1. Ireland’s lessons 17 III.2. Plastic bags levy in Vietnam: 19 CONCLUSION 23 REFERENCES 24 INTRODUCTION Now that people increasingly pay more attention to environmental issues, they are manifested in all areas of life. Air pollution? Do not worry. Already a car powered by electricity or eco-gasoline or even grass. Water pollution? Do not worry. Already advanced wastewater treatment technologies. So what if the pollution is caused by the consumption of plastic bags? Not easy to answer. Let’s stand in the shoes of a public economist. The consumption of plastic bags brings a lot of benefits for everyone. If you are a manufacturer of plastic bags, you will get a lot of money as your profit. If you are a consumer of plastic bags, you will be satisfied with the benefits that they bring you. They are cheap, very light and of course, very easy to throw away after used. Now the problem has arisen. Have you ever wondered where plastic bags will be after discarded? We can say for sure that they do not disappear. They stay and pollute the environment. Environment Commissioner Janez Potocnik used to say: "The impact of this plastic waste can be seen...

Words: 7613 - Pages: 31

Premium Essay

Cnsucr

...report analyses how internal and external factors control to the strategy that Ryanair Plc is following. This report undertakes a detailed study of Ryanair which include a brief outlining of the company’s products and services. Mission, vision and values of the airline will be also explained. It evaluate company’s current strategy and the management of that strategy. It also gives a brief evaluation of Ryanair’s financial structure as well as an environmental analysis of the European airline industry and how this affects Ryanair. Each section of the following report represent the key findings. Introduction to company section includes Ryanair’s background, mission and vision statements, Corporate Social Responsibility policy, company’s stakeholders. External environment section include SWOT analysis. This analysis explain Internal (Strengthens and Weaknesses) and External (Opportunities and Threats) factors. Furthermore, PEST analyse is described. In order to understand company’s profitability in relevance to the competitors, the Porter’s Five Forces framework is used. In Financial sector the turnover , profit margins, operating profit, current ratio, solvency ratio, gearing ratio and the comparability of these during 2006-2008 period is explained. Using the Ansoft’s growth matrix the main strategic direction that Ryanair follow was indentified. The methods of development such as low cost, no- frills model, finding new markets for existing products, opening new routes are outlined...

Words: 4448 - Pages: 18

Premium Essay

Restoring Reputation and Repairing Legitimacy: a Case Study of Impression Management in Response to a Major Risk Event at Allied Irish Banks Plc

...5 6 7 8 9 30 1 2 3 4 5 6 7 8 9 40 1 2 3 4 5 6 711 8 65 Restoring reputation and repairing legitimacy: a case study of impression management in response to a major risk event at Allied Irish Banks plc Philip Linsley* The York Management School, University of York, Heslington, York, YO10 5DD, UK E-mail: pl521@york.ac.uk *Corresponding author Peter Kajüter University of Münster, Chair of International Accounting, Universitätsstr.14-16, D-48143 Münster, Germany E-mail: peter.kajueter@wiwi.uni-muenster.de Abstract: Risk events can cause significant damage to a firm’s reputation and legitimacy. From the perspective of legitimacy theory, there are four broad strategies to restore reputation and repair legitimacy in response to a risk event. The annual report is a potential vehicle for communicating these strategies to the firm’s stakeholders and, therefore, the discretionary disclosures explaining the strategies implemented can be regarded as a means for managing reputational risk. This paper analyses annual report disclosures published in response to a major risk event at Allied Irish Banks plc. The empirical results suggest that legitimacy theory can usefully explain the disclosures. However, the findings from the case analysis also indicate that the disclosures made by Allied Irish Banks plc were not wholly effective in re-establishing legitimacy and thereby demonstrate the need for effective internal control and risk management systems that reduce the likelihood of risk...

Words: 9287 - Pages: 38

Premium Essay

Assess the View That Since 2007 the Assembly Has Been Successful in Holding the Executive Committee to Account

...Assess the view that since 2007 the Assembly has been successful in holding the Executive Committee to account In Northern Ireland, holding the Government to account is one of Parliament’s main functions. The Assembly forces the Executive to justify bills, explain their motives and defend their actions; essentially through many mechanisms of scrutiny, that is Committees, Question Time and Debates. The main scrutiny instruments in the Assembly are the Statutory Committees. They hold the Executive to account through their wide-ranging scrutiny powers, mainly holding inquiries, scrutinising budget and by scrutinising legislation. Statutory Committees, as well as committees in general, are the engine room of the Northern Ireland Assembly. Statutory Committees hold inquiries into topical issues then report with recommendations and/or suggested solutions or alternatives back to the minister in question. Committees carrying out such scrutiny would convene and work with experts and stakeholders in the specified area surrounding the matter at stake, assisting the committee with their knowledge and understanding of the topical issue in question to which they can bring forward to the minister a fuller representation of evidence into the inquired issue. Much evidence to those is taken on board by the minister which subsequently leads to the implication good scrutiny. For example, in 2009 the Health Committee published a report on Obesity. 22 out of the 24 recommendations made were accepted...

Words: 1667 - Pages: 7

Premium Essay

The Importance Of Inclusive Education

..."The inclusive education has increasingly become a focus of debate in discussions about the development of educational policy and practice around the world" (Farrell and Ainscow, 2002, cited in Winter and O'Raw, 2010, p.3). The inclusive education focus on people with disabilities and learning difficulties (Winter and O'Raw, 2010). Booth and Ainscow (1998 cited in Winter and O'Raw) state that the policies on inclusion should not be restricted only to the education of pupils identified as having special educational needs. However, this essay will contextualise the inclusion policy in the broader context of the policy making in the Irish context. It will look into the background document developed for the inclusion. It will evidences consultations...

Words: 802 - Pages: 4

Premium Essay

Recent Accounting and Corporate Governance Scandals

...REPORT RE: RECENT ACCOUNTING AND CORPORATE GOVERNANCE SCANDALS Contents INTRODUCTION: 3 CORPORATE GOVERNANCE 5 CORPORATE GOVERNANCE IN IRELAND 5 RESPONSE FROM REGULATORS TO THE MOST RECENT SCANDALS IN BANKING SECTOR 7 US CORPORATE GOVERNANCE at a time of Tyco scandal 8 RESPONSE FROM THE REGULATORS -SARBANES-OXLEY ACT 2002 9 AUDIT 10 EXTERNAL AUDIT 10 INTERNAL AUDIT 11 INTRODUCTION TO ANGLO IRISH BANK 12 The Scandals 12 Loans to Sean Fitzpatrick 13 Irish Life and Permanent Depositing Funds 14 Corporate Governance Situation of Anglo 16 Ernst & Young – External Auditor 17 Impact on Shareholders & The Public 18 Company Law, Financial Regulator, Accounting Standards IFRS and GAAP 19 TYCO INTERNATIONAL 20 DETAILS OF TYCO’S SCANDAL 21 ACCOUNTING ISSUES IDENTIFIED 22 THE CORPORATE GOVERNANCE WEAKNESSES AT TYCO 22 PERFORMANCE OF EXTERNAL AUDITORS 23 CONCLUSION 27 The Main Reasons for The Scandals 27 Steps taken afterwards-will they prevent similar events happening in the future? 33 END REFLECTION 36 Bibliography: 37 Appendices: 41 INTRODUCTION: Accounting and corporate governance scandals have been a growing problem in the recent years. Many believe that the blame for those scandals should be borne on two groups of people. Those responsible for managing a company and those whose duty is to provide assurance on the accounts prepared by the directors (auditors), both of whom failed to perform their jobs adequately...

Words: 12288 - Pages: 50

Premium Essay

Managing Tourism and the Environment

...“Islands are fragile” (O’Riodan, 2009). The delicate and sensitive entities of islands need to be managed by the stakeholders in a sustainable way in order to maintain the natural and cultural environment. Sustainable tourism is defined as “tourism that is economically viable but does not destroy the resources on which the future of tourism will depend, notably the physical environment, and the social fabric of the host community.” (Brent, R., 2003). Islands suffer from special problems such as their limited carrying capacity, their lack of product diversity, their history, their peripheral and isolated nature, as well as having large endemism in regard to species. These problems can have diverse and wide ranging effects on stakeholders’ abilities to set up sustainable tourism projects. Space or carrying capacity is a major constraint on the creation of sustainable tourism projects. There is, as Bramwell (2004) suggests, an absolute restricted resource base which should act as a restrictive band on development and prevent sprawling unsustainable development. Developers and tour operators are at loggerheads with environmental agencies over this, as they are seeking quick short term profits with disregard for the future of the islands. This is shown in Bali, Indonesia on ‘Rama Beach’ the sea is littered with dead fish, oil and litter from the Rama beach hotel (personal obvs., 2010). This detracts from the selling points of an island resort (sun, sea and sand). Butler’s (1980)...

Words: 2043 - Pages: 9

Free Essay

Ryanair Case Study

...Case study A : Ryanair Part 1 In November of 2006, the Irish Airline company Ryanair announced a record half-year profit of 326 million euros. In order to understand how they managed to reach such profitability in the overloaded European Airline industry, we will use the business model framework. First, Ryanair’s customers benefit from low fares and punctuality. Offering the lowest fares in every market is the company main goal. As no competitors manage to outperform Ryanair in terms of price, we can say that their value proposition is superior. The second step of the business model framework is to emphasize the architecture of the business and how it enables the company to achieve its aims. Let’s focus on each of the six components of the company infrastructure. ✓ Ryanair aims at offering the lowest prices of the market. Low fares are the main competitive advantage of the company, so whatever the context is they try not to raise prices. Even when fuel costs soared, the company CEO, Michael O’Leary declared that they would be “no fuel surcharges not today, not tomorrow, not ever”. ✓ Ryanair’s flights are point to point only, in order to reduce costs (fuel charges, airport cost…). On those flights, there is no business class. Moreover, the company chose secondary airports as airport charges are lower than in main airports. We can Ryanair also offers ancillary services including non-flight services such as hotels or car rental...

Words: 1880 - Pages: 8

Premium Essay

D1 Unit 1 Businsess Envirnment

...THE CHANGING TIMES | Asda has been dealing with a lot of stakeholders. How has Asda changed to satisfy their stakeholders? | The economic climate and how it has changed over the years. The influence of this climate on Asda. The effect different stakeholders have had on Asda and how they fulfilled their influences. Are the stakeholders satisfied? | 28-11-2013 28-11-2013 ARE YOU SATISFIED WITH ASDA? ARE YOU SATISFIED WITH ASDA? / ASDA HISTORY ASDA HISTORY * ASDA Group Ltd. operates as one of the largest food retailers in the United Kingdom. The company's stores sell a wide variety of merchandise including food and apparel, along with housewares, music, videos, and books. ASDA has approximately 259 stores in its arsenal--each averaging nearly 42,000 square feet with some as large as 100,000 square feet. * In 1958 two brothers, Peter and Fred Asquith, opened a supermarket and within five years they had a chain of self-service supermarkets that proved hugely popular. They offered “Permanent Reductions” and 8pm opening on Fridays. The Asquiths worked 18-hour days to meet demand but, despite their success, the brothers needed more financial backing to expand. In 1965 Associated Dairies and Asquiths did a deal to merge and create Asda Stores Ltd – the name being a marriage of the two parties: Asquith +Dairies. The new company bought the GEM chain in 1965, re-launching...

Words: 6461 - Pages: 26

Premium Essay

Ryanair Strategic Business Unit in Australia

...individual and institutional customers. This report analyses a myriad of aspects that multinational companies face in the global provision of goods and services. In its deliberations, the reports deeply evaluate the National Double Diamond model and its later improvement as well as the SAFe criteria that are essential to business leaders in effectively engaging in international business. It gives insight on how the varied features of the international business impact on the business strategy. Additionally, it also highlights the best approaches the corporate managers reshapes their corporate strategies to suit the international cultural diversity of the workforce, clients among other stakeholders effectively. On more specific terms, the report gives recommendations that the Irish Ryanair undertakes to establish successfully and run a strategic business unit in...

Words: 5789 - Pages: 24

Premium Essay

Ryanair Strategic Business Unit in Australia

...individual and institutional customers. This report analyses a myriad of aspects that multinational companies face in the global provision of goods and services. In its deliberations, the reports deeply evaluate the National Double Diamond model and its later improvement as well as the SAFe criteria that are essential to business leaders in effectively engaging in international business. It gives insight on how the varied features of the international business impact on the business strategy. Additionally, it also highlights the best approaches the corporate managers reshapes their corporate strategies to suit the international cultural diversity of the workforce, clients among other stakeholders effectively. On more specific terms, the report gives recommendations that the Irish Ryanair undertakes to establish successfully and run a strategic business unit in...

Words: 5789 - Pages: 24