1982, the back-cover review of Fire and Memory: On Architecture and Energy, a book by Luis Fernandez-Galiano states:
“Architecture as the most consistent consumer of energy is treated as both a symbol of humanity’s struggle with nature and the practical object of the daily processes of entropy.”
1982 was also the year an Irish architect, Ciaran Cuffe and company agreed on the 'seven principles' to guide their new Green party.
At the present moment, in early 2010 we are awaiting John Gormley, Green party leader and minister for the Environment, to publish the planning, financial and corporate governance report(s) into Dublin Docklands Development Authority, commissioned and undertaken by professor Niamh Brennan, acting chair person of the DDDA.
There is a danger now, unfortunately, Taoiseach Brian Cowen will remove John Gormley from that office, before the DDDA report can be released. It would take minister Gormley 'off the hook'.
In this blog entry, I wanted to establish some kind of time line for the North Quay Investments project (owned and operated by Liam Carroll).
North Wall Quay Time Line
March 10th 1982, Tony Gregory arranges a deal with Charles J. Haughey, new elected Taoiseach. Joe Joyce writes in the Irish Times,
The second election of Charles Haughey as taoiseach came with the help of the newly elected Independent TD for Dublin Central Tony Gregory and a controversial deal to develop the docklands area around what became the IFSC.
One of the speakers, architect Ciaran Cuffe at the party conference in Waterford on March 27th 2010 had to say.
I was searching for a way to describe in the words of the late Gerry Garcia, “what a long strange trip it’s been”.
You might think I’m talking about the last couple of months in Leinster House, [Ireland's house of parliment] but I’m not. After the roller coaster ride of the last two and a half years I want to pause for a moment and recall a meeting that took place in the Glencree Reconciliation Centre in the Wicklow Hills back in 1982.
A small group of people met over the course of a weekend to draft the founding principles of the Green Party that still guide us today. We argued. We disagreed. Some people left the room, some slammed the door, but eventually we came to agreement on seven principles that still guide the Party’s work today.
1987, IFSC development included in Fianna Fail's election manifesto. Pat McArdle writes for the Irish Times,
. . . the International Financial Services Centre (IFSC), usually attributed to Dermot Desmond and Charlie Haughey, had been proposed and rejected several times before either of them became involved.
In the end, it was the need to have something positive in the 1987 Fianna Fáil manifesto that won the day.
1994, internation-ally famous rock band U2 begin to record music at their new studio on Hanover Quay.
In 1993/94, my second year assignment as an architectural student at Bolton Street was for the Grand Canal basin area. (Around where the new concert hall owned by Harry Crosby is now situated) I do have very vivid memory of what the area was like back in those days.
The only nice piece of architecture beside the Grand Canal basin back in those days, was called the 'box on the docks'. An interpretative centre designed by a tutor of mine at Bolton Street, architect Rory Murphy. Rory's dad Eamon Murphy, my tutor at Bolton Street in 1993/94 gave me a good mark on the student project.
As students, we were aware though of the existence of U2's facility on the waterfront. Duncan Stewart was also our second year tutor, and he probably spilled the beans. U2 were clients of his back then. I can see how they got along, as Duncan shares with them, a kind of obsession for making the world a better place.
Pre-1997, Lar Bradshaw, Sean Fitzpatrick, Desmond Desmond, Charles Haughey and others sit down together to discuss their vision for Dublin's docklands area.
"Old customs house authority, concerned a lot with cars and traffic management."
As described by DDDA chief architect, Mr. John McLoughlin in the April 2008 transcript, Filling the Urban Void (Part One).
1997, James Masterson, a 24-year-old labourer working for Liam Carroll's building company, fell to his death from the scaffolding at Charlotte Quay.
(On the grand canal basin, opposite the U2 recording studio on Hanover Quay)
May 1997, formation of the Dublin Docklands Development Authority under the Dublin Docklands Development Authority Act.
It succeeded the Custom House Docks Development Authority, formed 10 years earlier, which oversaw the development of the International Financial Services Centre (IFSC) and surrounding area.
Publication of the DDDA master plan.
Lar Bradshaw is appointed by Fine Gael government to become its first chairman of the executive board.
"DDDA, a facilitator role rather than a design role."
The confident assertion by DDDA chief architect, Mr. John McLoughlin in the April 2008 transcript, Filling the Urban Void (Part One).
Mr. McLoughlin had been a consultant architect to Liam Carroll's company Zoe developments in the early days. In 2007/08, Mr. McLoughlin was representing the planning authority who dealt with the North Quay Investments project, owned and operated by Mr. Carroll.
1997/98, I had progressed to my fourth year as an architectural student at Bolton Street college. I talk about it briefly in my blog entry, Make-up of the board.
2000, a tower project is announced by the DDDA.
(I have to fill in my research here a bit)
2002, Liam Carroll wrestles control of development company Dunloe Ewart from director Noel Smith.
Carroll gained control of Dunloe Ewart lands adjacent to U2 tower project site, which led to arm twisting by the DDDA, in which Carroll had to cede some of his land to allow the U2 tower project to proceed.
Long John Sean-ie FitzPatrick was appointed to the DDDA board by Bertie Ahern’s government in 2002. He was a member of both the audit and the risk committees and chaired the finance committee.
June 17th 2002, U2 to stay in docklands despite ruling.
The Dublin Docklands Development Authority forced U2 to sell their old Hanover Quay recording studio building, located near a concrete factory, for an undisclosed price as part of a city program to bring businesses and new housing into the area, which had declined economically since World War II.
The rock band have been recording at this location since 1994.
In return to U2 for moving out, the authority promised the band it would provide space for a new recording studio on the top two floors of a 32-story tower it plans to build on the adjacent Britain Quay.
The authority also gave U2 bass guitarist Clayton a seat on the jury that would decide the winner of an international design competition to build the tower.
2003, U2 tower competition winners.
The jury chose joint winners: Dublin-based architectural firms Burdon Dunne and Craig Henry.
Loretta Lambkin, the authority's marketing director, declined to disclose the projected cost, because the authority as of January was seeking bids from developers.
When it's completed, the twisting, corkscrew-shaped structure will rise 120 meters (394 feet) and offer Bono and the other U2 members sweeping views of Dublin from their duplex studio atop it. U2 Tower - as it's been named with the band's consent - will be the tallest building in Ireland. The U2 singer told Assayas in Bono on Bono,
People want to see an entrepreneurial spirit.
2004, Deputy Tony Gregory raised questions over the unhealthy relationship between the Dublin Docklands Development Authority and Anglo Irish Bank.
Over twenty years after deputy Gregory had first made an arrangement with Fianna Fail parlimentary party for the investment in the Irish Financial Services Centre, IFSC (and the inner city area in general).
July 2005, DDDA in talks with Carroll to seek a joint development of his property and the DDDA's Britain Quay property.
The DDDA was accused of being "breathtaking in its arrogance" in 2005 by North Wall Community Association chairman Gerry Fay for assuming that its plans for the U2 tower should take precedence over a higher tower planned by Liam Carroll.
August 2005, Irish Independent newspaper reports, Property developer Seán Dunne has spent €37m acquiring over 2.1m shares in hotel group Jurys Doyle, which is currently the subject of a takeover bid by the Bryan Cullen-led consortium called Precinct.
Rival property developer, Simon Kelly wrote in his book Breakfast at Anglo, published in 2010.
The frenzy over Jurys shares forced Sean Dunne to defend his position on the deal by acquiring a large stake in the company. He went into the market and spent over €200 million buying shares in Jurys, making sure he had enough votes at the EGM, which had to approve his deal. Interesting new players began to appear on the share register, including Liam Carroll, who took a stake of 10 per cent in the company.
November 10th 2005, North Lotts planning scheme was singled out for revision by executive of Dublin Docklands Development Authority.
See Colm Keena article in Irish Times newspaper dated September 03rd 2010, Report on disputed docklands plan dropped as author and chairman hit deadlock.
Anglo Irish bank and Carroll's company North Quay Investments may have been considering their plans for development at North Quay. This was the time at which discussions with the Dublin Docklands Development Authority were initiated for revision to the master plan for the North Lotts area.
April 7th 2006, former Taoiseach Bertie Ahern cheers on the building boom.
"The Taoiseach has said he does not see a great problem with the levels of borrowing to buy property. Mr Ahern said there had been predictions of a huge downturn in 2005. He added the bad advice given by so many resulted in some people making mistakes when they should have bought property last year."
October 24th 2006, Dublin Docklands Development Authority approved its investment in the €412m Irish Glass Bottle site deal.
(Adjacent to 15 acres of land owned at Ringsend by developer Liam Carroll)
Fianna Fail minister for the Environment, Dick Roche declared:
“This joint-venture arrangement will ensure that the [DDDA] has a major input into the planning and architectural elements of the development and will be in a better position to pursue their social, community and amenity objectives in Poolbeg.”
From the Irish Times, November 6th 2009:
The minutes have been sourced by Phil Hogan, Fine Gael’s spokesman on the environment, heritage and local government, using the Freedom of Information Act.
Mr FitzPatrick was at the time chairman of the bank and a non-executive director of the DDDA, while Mr Bradshaw was chairman of the authority and a non-executive director of the bank, which financed the deal.
Mr Bradshaw advised the board of his non-executive role with Anglo, as did Mr FitzPatrick. They said they would not be involved in executive decisions in the bank.
October 24th 2006, approval of DDDA loan extension by minister for finance, Brian Cowen.
Minutes of DDDA Board meetings released to Fine Gael show an astonishing haste by the then Minister for Finance in approving millions for the DDDA. Any loan extension for the DDDA must be approved by the Ministers for Environment and Finance. The DDDA Board minutes of October 3rd 2006 show that such a request was made to both Ministers for purchase of the Irish Glass Bottle Site. By October 24th, Brian Cowen had already approved the request.
Justine McCarthy in the Sunday Times newspaper February 28th 2010, How Dublin’s docklands drowned in debt, writes:
The other six directors were Mary Moylan from the Department of the Environment; Declan McCourt, a director of Bank of Ireland; Angela Cavendish, of Alexsam Corporate Finance; accountant Donall Curtin; Niamh O’Sullivan of Arup, consultant engineers employed on the Irish Glass Bottle (IGB) site in Ringsend; and Joan O’Connor, an award-winning architect.
It should be noted, architect Joan O'Connor is the cheer leader for developer Mr. Sean Dunne and his famous ballbridge project. Mr. Dunne, being the man who took the DDDA to court, about the planning permission for the North Quay Investments project (owned and operated by Liam Carroll).
November 1st 2006,
An e-mail sent by DDDA member Thomas Mulligan, was part of a chain of emails circulated to the directors of the authority by the personal assistant to former DDDA CEO Paul Maloney, developer Bernard McNamara said.
It stated: "Happy days. Congratulations to Paul and the team. Our pension is now secured," Mr McNamara said. The DDDA, having overseen much of the development of the docklands, "had of course perpetuated itself by entering this transaction", Mr McNamara added.
As reported by Irish Examiner newspaper journalist, Vivion Kilfeather, about a submission of a 31 page affidavit from developer Bernard McNamara, to the Commercial Court on 29th Nov 2010.
In this blog entire piece, North Wall Quay Time Line, I was very careful to construct it, on purpose, omitting NAMA and former Taoiseach Ahern.
Because they tend to over-shadow far too much. That is what grabs the media attention.
I managed to do that, except, I had to mention that Bertie installed Sean Fitzpatrick as director in the DDDA, around the time Liam Carroll had gained control of Dunloe Ewart in 2002. You will please note, former Taoiseach Ahern referred to Mr. Dunne, affectionately as ‘The Dunn-er’. The relationship between Ahern, Fitzpatrick and Dunne did exist.
It became a chess game virtually, where Fitzpatrick was installed in the DDDA to deal with Mr. Carroll, and later Mr. Dunne executed a very effective 'rugby tackle', as Mr. Carroll was bomb-ing for the touch line.
You get the picture. Former Taoiseach Ahern, Mr. Fitzpatrick and Mr. Dunne (had ram-sacked the DDDA for what it was worth) and used everything they had against a single individual trader, Mr. Carroll.
Who was doing his best to operate his business in the DDDA’s jurisdiction. None of this is interesting, except for the fact that DDDA and Anglo were joined together at the hip - and the taxpayer has pumped million(s) and billion(s) into both. What the media is so asleep on that, is beyond my comprehension.
The RTE Prime Time report on the DDDA versus Mr. Dunne court case, dated 4th December 2008, being a prime example of the 'slumber' I refer to.
November 2006, Liam Carroll approached the DDDA about the North Quay Investments Ltd (NQIL), project site. Paul Maloney, chief executive of the DDDA informed the board of the DDDA of these contacts.
Carroll was dissatisfied by the outcome of the discussion and moved instead with the lodgement of a planning application to Dublin City Council. The DDDA objected to the same application and Dublin City Council planning department refused permission.
Shortly afterwards, David Torpey, director of many of Carroll's companies approached the DDDA, to broker some legal agreement between Mr. Maloney and North Quay Investments Limited. By May 2007, the draft agreement had been prepared by Carroll's lawyers.
See article in Irish Times, by Colm Keena, Solicitor sought no-criticism pledge on docklands report, of June 19th 2010.
Late 2006, I secured employment working for Liam Carroll's company Royceton and began in January 2007.
Anglo Irish Bank’s London branch became the first non-British issuer of British covered bonds.
See blog entry, Kathleen Barrington, Cowen’s Act fuelled banks’ folly.
January 2007, Hanover Quay recording studio.
The band U2's next album, scheduled to begin recording this year, may be the last to be made at its old studio on Hanover Quay, a rundown waterfront on Dublin's Grand Canal, just south of where the canal meets the Liffey, the river that flows through the city.
January 25th 2007, Becbay completed the acquisition of the IGB site.
As well as paying €32.8m for its share, the DDDA gave Becbay an unsecured, interest-free loan. It would spend a further €30m decontaminating the site. Derek Quinlan, a wealth manager, bought 33%, leaving McNamara with 41%.
February 2007, Cowen published legislation which he then said,
Helps provide a very competitive source of funding for mortgage lending by financial institutions and it is the method by which our major mortgage lenders raise a considerable proportion of the funds they use for mortgage lending.
See blog entry, Kathleen Barrington, Cowen’s Act fuelled banks’ folly.
March 22nd 2007, Permission granted for U2 tower (by the DDDA).
The original U2 tower design was later deemed to be do fanciful to ever pay its way. Later on in 2008, British architectural firm Norman Foster & Assoc. were drafted in to come up with a revised design. The trouble with this design, was it was much larger in floor plate area and required more land than which the U2 tower project had at their disposal. Good old friendly Liam Carroll had a couple of acres next door, which he had acquired in the hostile takeover of Dunloe Ewart in 2002. The U2 project team with the DDDA went after some of that land to use.
This U2 project was strange to me, because it was never a real project. Even Frank McDonald called the U2 tower project, a 'jink project' in the RTE Prime Time report dated 4th December 2008. But even though the U2 tower project was a phantom in my estimation, it did serve one very useful purpose. It demonstrated to all and sundry, that the DDDA was really a property developer in its own right, who could rubber stamp planning applications. I have a feeling, that on the evidence presented by the DDDA's power in dealing with the U2 tower project, that it gave confidence to both Liam Carroll and to Bernard McNamara to wade in too deeply with the DDDA on other projects. Of course, in wading in too deep with the DDDA, what Carroll and McNamara effectively were doing, was to wade in too deep with Anglo Irish Bank. For Anglo, the Dublin Docklands Development Authority was no more than a branch office.
April 2007, complaint made to the SIPO by Michael Smith.
The uncomfortable relationship between the Docklands Development agency and Anglo Irish Bank was first revealed in the Sunday Independent in early 2007.
Michael Smith, the campaigner whose inquiries led to the establishment of the planning tribunal, made a complaint to the Standards in Public Office (SIPO) about these links. He believed that about 15 property development companies — largely owned by the best-known developers in the State — were the principal builders in the area. The majority of these, he claimed, were bankrolled by Anglo.
May 2007, the then finance minister Brian Cowen rushed through legislation which included provisions to allow banks to issue ‘covered bonds’, backed by commercial mortgages.
Under the previous 2001 Act, the bonds could only be backed by residential mortgages or public sector debt.
The 2007 move was music to the ears of commercial mortgage lenders, particularly Anglo Irish Bank, as it meant they could raise new money by issuing securities backed by commercial mortgages.
See blog entry, Kathleen Barrington, Cowen’s Act fuelled banks’ folly.
Sunday Business Post, reports that, Oliver Wyman in 2007 named Anglo Irish Bank as the best bank in the world in a piece of research published to coincide with the World Economic Forum in Davos, Switzerland.
May 4th 2007, the draft agreement had been prepared by Carroll's lawyers the North Quay Investments Ltd (NQIL), project site. O'Donnell, Sweeney, Eversheds advised North Wall Quay Limited. The Dublin Docklands Development Authority were advised by A+L Goodbody.
The agreement was that NQIL would submit a planning application for the site within the parameters of the 2002 North Lotts planning scheme. The DDDA in return, would initiate the necessary procedures to amend the 2002 North Lotts planning scheme. NQIL would then be allowed to apply for an increased commercial density of development on the site. Anglo Irish bank, the main lender and tenant of the proposed commercial project required assurance from Carroll in relation to building density.
World famous rock band U2 are part of same agreement.
Also involved are the notorious Anglo Irish banking directors, Long John Sean-ie Fitzpatrick and Lar Bradshaw. At this time, they could do no wrong in the eyes of property developers. Refer to Eamon Dunphy's 2nd Dec 2008 interview with developer Paddy Kelly, whose development at Sir John Rogerson's Quay now houses the Dublin Docklands Development Authority.
May 8th 2007, the DDDA's director of property Neil Mulcahy wrote, 'the ceding of the strip would be a condition if the volume of development necessary to satisfy Anglo was permitted...'
David Torpey, a chief executive director in many of Liam Carroll's companies, issued the heads of the agreement to Mr. Mulcahy of the DDDA.
May 31st 2007, the DDDA executive sign deal (without the knowledge of the board) with Liam Carroll's company North Quay Investments. It provided for the transfer by the Carroll company of a strip of land in the North Lotts to the authority. In return the DDDA's executive was to seek to amend the planning scheme for the North Lotts area, so that Carroll's eight storey development could eventually be doubled in height.
The agreement drafted by Carroll's lawyers was signed by both sides. But the board of the DDDA were not informed of the agreement. Executives of the DDDA believed they had the requisite authority to enter into the agreement.
See Irish Times article by Colm Keena, Judge criticised confidential Carroll-DDDA deal, date June 19th 2010.
See Irish Times article by Colm Keena, Judge criticised confidential Carroll-DDDA deal, date June 19th 2010.
Also, Solicitor sought no-criticism pledge on docklands report, dated June 19th 2010.
Also, Solicitor quit docks body inquiry as witness was told 'how to interact', dated June 18th 2010.
Also, To blame or not to blame a divisive issue in docklands, dated June 18th 2010.
June 2007, Mr. Lar Bradshaw, chairman of the DDDA since its creation in May 1997 (an Anglo Irish bank board member) steps down and is replaced by Mr. Donal O'Connor.
(O'Connor later stepped down as chairman of the DDDA, on December 24th 2008, having been appointed chairman of Anglo Irish Bank)
July 2007, after extensive negotiations, the Green Party (winning 6 no. seats in the general election) form government with Fianna Fail in Ireland.
Late summer 2007, Royceton send their sister company Danninger, the construction arm (both owned Liam Carroll) in to begin ground works in the North Quay Investment site.
Mr. David Torpey, senior director at Zoe is firm with the site agent, informing him of the need for rigorous program management to apply on the North Quay Investments project.
September 2007, Northern Rock bank in trouble in United Kingdom. Professor Niamh Brennan (then a member of the board of Ulster bank) believes that people were slow to react. The didn't mobilise to deal with the systemic risks until later in March 2008, following the collapse of Bear Stearns bank in the United States.
March 2008, Bear Stearns bank collapsed in the United States. Those in Irish banking and finance begin to realise, it is the start of real trouble.
Valerie Hanley, writes for The Irish Mail on Sunday, on August 23rd 2009, ‘Golden Circle’ builder paid €5,000 to meet Brian Cowen.
A GROUP of businessmen – including one member of the notorious ‘golden circle’ of secret Anglo Irish Bank investors – paid €65,000 for a private meeting with Taoiseach Brian Cowen, the Irish Mail on Sunday can reveal. The 13 company directors and property developers met Mr Cowen in March 2008 in the splendid surroundings of the five-star Shelbourne Hotel’s Constitution Room. Among them were two beneficiaries of the infamous Ansbacher trusts set up by Charlie Haughey’s corrupt accountant, Des Traynor, and one of the 10 Anglo shareholders being investigated by the Garda’s fraud squad for potentially illegal share trading.
March 17 2008, St Patrick's day massacre of Anglo Irish bank on the Irish 'Iseq' stock exchange. (Irish Times blogger Laura Slattery offers her account in March 2009)
Mr. 'Long John' Sean-ie Fitzpatrick requested that Liam Carroll add 4 no. extra stories on top of the proposed building at North Wall Quay. Mr. Fitzpatrick was bluff-ing at this stage. Trying to put on an act, to convince his colleagues on the executive board of the DDDA, that he was still all gung-ho.
The 'green gersey' and all of that nonsense. Maybe it worked and bought some more time for Anglo Irish bank. Mr. Fitzpatrick was very busy trying to sell Anglo Irish bank at this point, and would have benefitted from such a sale, being a major shareholder. One can understand how the flag ship North Quay Investments project fitted into his masterplan to make the bank look attractive to a potential suitor.
April 2008, Landscape architectural consultant, West 8 designs for ‘revised scheme’ for North Wall Quay and surrounding area are made public and shown to Dublin City Council for approval. Dublin City architect, Ali Grehan refers to the North Quay Investments project (owned and operated by Liam Carroll) in her praise:
Another issue which is facing us, is the increasing privatisation of public space. That must be looked at. Because obviously people want spaces to be well managed, so the immediate temptation is to hand it over to private companies to manage. In fact, to not take ownership to them at all.
I was really encouraged to hear what John McLoughlin, John McLoughlin’s presentation last week. Where his architects were talking about the West 8 scheme. One of the things that they spoke, I suppose, very eloquently about was how this space to the river should be public. I was very encouraged by that. That, that was something which was so obvious to this group of architects.
July 2008, The European Central Bank raises its base interest rate. Widely considered to be a mistake, the dropped it back to almost zero again by late 2008.
RTE news reports on January 2011,
Taoiseach Brian Cowen had two previously undisclosed contacts with former Anglo Irish Bank Chairman Sean FitzPatrick in the months prior to the introduction of the bank guarantee. In a statement to the Sunday Times, Mr Cowen confirmed he had dinner and played golf with Mr FitzPatrick at Druids Glen in Co Wicklow in July 2008. However, Mr Cowen said that the affairs of Anglo Irish Bank were not discussed during the day. Mr Cowen also confirmed that he took a call from Mr FitzPatrick concerning Anglo Irish Bank shares four months earlier when he was still Minister for Finance.
September 29th 2008, Taoiseach Cowen and minister for finance Brian Lenehan put in place a government guarantee scheme.
A guarantee arrangement to safeguard all deposits (retail, commercial, institutional and interbank), covered bonds, senior debt and dated subordinated debt (lower tier II), with the following financial institutions: Allied Irish Bank, Bank of Ireland, Anglo Irish Bank, Irish Life and Permanent, Irish Nationwide Building Society and the EBS Building Society.
October 6th 2008, Iceland! Iceland!
Prime Minister Geir Haarde said:
"There [was] a very real danger ... that the Icelandic economy, in the worst case, could be sucked with the banks into the whirlpool and the result could have been national bankruptcy."
October 17th 2008, Listening to Anglo Irish Bank chief executive David Drumm speak about banking and property, counted towards 'six hours of continuous professional development' at the Society of Chartered Surveyors.
October 31st 2008, signing of €200 million contract for U2 tower project is postponed.
You can read my blog entry, Where the streets have no name, to appreciate the background deal-ing(s) that went on with Liam Carroll in relation to the U2 tower project.
October 2008, Planning permission for development at North Wall Quay by Liam Carroll's North Quay Investments company was rescinded by the high court, in a case taken by Sean Dunne of Mountbrook homes, against the Dublin Docklands Development Authority.
Chairman of Mason Hayes and Curran solicitors, Declan Moylan, was commissioned by Donal O'Connor, chairman of the DDDA to produce a report on the development by Carroll's North Quay Investments.
The solicitor Mr. Moylan, was given clear directions as to the 'tone and layout of the report' he was to produce. He interviewed parties on that basis. Mr. Moylan's remit from the Dublin docklands development authority was for a 'lessons learned' report that would include forward-thinking recommendations.
See Colm Keena article in Irish Times newspaper, September 03rd 2010, Report on disputed docklands plan dropped as author and chairman hit deadlock.
Moylan's report was nearing finalisation when Donal O'Connor, chairman of the DDDA resigned to take on the position of chairman of Anglo Irish Bank.
November 2008, Director of Structural Engineering at Liam Carroll's company, Royceton comments on the bleak future facing Ireland, in the Foggy Dew pub off Dublin's Dame Street.
Building is all we do in Ireland.
We have never done anything else.
See blog entry, The sacking of Athens.
November 24th 2008, Staff at Liam Carroll's companies Royceton and Danninger are let go, following judgement of justice Mary Finlay Geoghegan, on the North Quay Investments project (owned and operated by Liam Carroll).
The DDDA spent €5.0 million of the Irish state's money fighting this legal battle against developer Mr. Sean Dunne, but lost the case.
December 2nd 2008, journalist and RTE radio broadcaster Eamon Dunphy, interviews developer Paddy Kelly.
Mr. Kelly spoke in enormous praise of Anglo Irish bank. It should be noted for the record, the Dublin Docklands Development Authority is currently housed in a mixed use development at Sir John Rogerson's Quay owned by Mr. Kelly (at least it was at that time).
The Irish Economy blog site is begun by Philip Lane, a lecturer in economics at Trinity College Dublin. A group of similarly concerned academics and professionals in the Irish sphere begin an online debate, which lasts for a considerable number of years afterwards.
December 4th 2008, RTE Prime Time report on DDDA decisions.
The RTE Prime Time report did highlight the considerable amount of egg on the faces of DDDA's senior management. The TV show provided chief executive Paul Maloney with an opportunity to air his views. Some of the transcript is available at my blog entry, Questions raised over DDDA decisions.
What the RTE Prime Time report never did, was to interview all of the 500 no. Royceton and Danninger employees who had lost their livelihoods, as a result of North Wall Quay and the planning mess created by the DDDA. I stare-d at the TV screen in disbelieve on that evening.
Please note, by September 1st 2009, the national-ised Anglo Irish Bank, still felt obliged to extend credit of €76 million for completion of the North Quay Investments project (owned and operated by Liam Carroll). Minister for finance Brian Lenehan was question about it on RTE's Prime Time on the September 3rd 2009.
December 10th 2008, Publication of ‘Filling the Urban Void’ transcript published on Archiseek web forum.
December 18th 2008, Board of Anglo Irish bank meets with Department of Finance officials, to discuss treatment of bonuses and loans to directors/management of the bank. Simon Carswell reports on the minutes of the said meeting for the Irish Times newspaper, Department's role in banking crisis must face scrutiny.
December 19th 2008, Seán FitzPatrick resigned as Chairman of Anglo Irish Bank.
"The transfer of the loans between banks did not in any way breach banking or legal regulations. However it is clear to me, on reflection, that it was inappropriate and unacceptable from a transparency point of view.
One of the loans was a joint loan with Lar Bradshaw and I would like to emphasise that he had no knowledge of the temporary transfer of this loan."
December 23rd 2008, two days before Christmas.
Morgan Kelly writes in the Irish Times newspaper:
For the current Government, a month without a catastrophic policy error has come to seem like a month wasted. After the bank liability guarantee in September and the medical card fiasco in October, the Government had a quiet November but has now come roaring back to form with the bailout of Anglo Irish Bank. Attempting to recapitalise Anglo Irish is not only expensive and economically pointless, but futile.
December 24th 2008, one day before Christmas.
The newly-appointed chairman of Anglo Irish Bank, Donal O'Connor, is to step down as chairman of the Dublin Docklands Development Authority (DDDA) after concerns were raised about "membership crossovers".
"I am very conscious of the level of commitment required of me and, in addition, I wish to ensure that there can be no suggestion of conflict of interest in the various roles I have," he said.
December 2008, Declan Moylan, chairman of Mason, Hayes + Curran submits a draft report to the DDDA, which is also verbally presented to the board of the DDDA.
Mr Moylan was given terms of reference for his report and discussed them with the then chairman of the authority, Donal O’Connor. He said he was asked to produce a “lessons learned” report and not to apportion blame, and that he made this clear to people before he interviewed them.
See Irish Times article by Colm Keena, Solicitor quit docks body inquiry as witness was told 'how to interact', dated June 18th 2010.
January 8th 2009, Retention order for office block, as reported by Barry O'Halloran in the Irish Times newspaper.
The city council this week gave Mr Carroll's North Quay Investments a retention order for the building, which means the structure can be kept as it is.
However, the council points out that planning permission is being sought for further work needed to finish the building.
January 16th 2009, Anglo Irish Bank extraordinary general meeting in Dublin. The bank is nationalised.
Brian Lenihan explained to the Dáil in January 2009 that “as a country, we cannot afford to have the message going out that we will let a bank fail.”
(Fintan O’Toole commented in his Irish Times column on March 2nd)
Iceland! Iceland!
February 13th 2009, The 'green jersey agenda' is revealed to the public. Journalist Authur Beesley writes for the Irish Times newspaper:
Amid astonishment and alarm in business circles that a major financial institution would cite “the green jersey agenda” in transactions that distorted the true state of a rival bank’s balance sheet, IL&P chairwoman Gillian Bowler and chief executive Denis Casey spent more than an hour with Minister for Finance Brian Lenihan yesterday explaining their stance.
February 20th 2009, On the RTE radio show Today with Pat Kenny, we listen to Ulick McEvaddy, businessman, and Joe Higgins, Socialist Party, clash over the so-called Golden Circle of Anglo Irish investors.
February 24th 2009, Gardaí raid Anglo Irish Bank offices.
March 2nd 2009, partner of West 8, landscape architectural consultant, Martin Biewenga gives a public lecture to show off his extensive design proposals at the CHQ shopping centre in Dublin.
March 3rd 2009, Gerry McCaughey, founder of Century Homes appointed as new chairman of the DDDA.
March 24th 2009, Gerry McCaughey stands down as chairman of the DDDA.
He expressed concern about the timing of the news, saying there were 'sinister forces' who wanted to make sure he would not take on the DDDA role.
The position of chairman of the DDDA, is promptly filled by professor Niamh Brennan.
April 20th 2009, journalist Colm Keena reports in Irish Times newspaper, of meeting between the chair person, and council for the investigation into the north wall quay development, appointed in October 2008.
Brennan met Moylan on April 20th and they discussed his draft report. Brennan wanted certain factual matters set out with greater clarity in Moylan’s report, such as how the Carroll deal with the authority came to be negotiated.
May 18th 2009, ACCBank seeks orders against Kelly.
May 27th 2009, staff of Royceton and Danninger have their employment terminated.
Early June 2009, a skeleton staff of architects remain employed by Liam Carroll to shoe horn through some kind of planning application for East Wall Road. I wrote about it in my blog entry, Drinking and Property.
Hundreds of construction staff are dependent on this 'break-for-the-border' plan reaching a stage of feasibility. However, things are not quite as easy as they had been for much of the second phase of the Celtic Tiger. Things don't fall on a plate anymore.
June 7th 2009, Kathleen Barrington, How Paddy Kelly got tangled up in ACC Bank's bondage.
July 18th 2009, Simon Carswell in the Irish Times newspaper reports on the Pre-emptive strike to stop action by ACC.
Liam Carroll's Zoe group was facing a deficit of €900 million if ACC Bank successfully appointed a receiver or liquidator next week in an attempt to recover loans of €131 million owed to the bank.
Late July 2009, Chair person for DDDA, Niamh Brennan studied the court transcripts leading to the October 2008 high court decision in favour of Sean Dunne's Mountbrook homes, which rescinded a fast track permission to Liam Carroll's company North Quay Investments, to proceed with the new Anglo Irish Bank headquarters.
Ms. Brennan wrote to solicitor Mr. Moylan: "I do not think the full impact of the agreement is exposed in your report. Your report refers extensively to the strip of land [that was to be transferred to the authority] but what was to be delivered to the developer in return is not so clear."
July 30th 2009, resignation of Paul Maloney, chief executive of the DDDA.
August 12th 2009, public office holder and Green party member, senator Deirdre De Burca informs minister for the Environment John Gormley, in personal e-mail of her concerns regarding the Dublin Docklands Development Authority. Senator De Burca asked in here 12th August 2009 e-mail to minister Gormley:
Why has the DDDA been unable to publish its 2008 accounts yet?
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It will be interesting to see if the DDDA accounts are published after the NAMA valuation whether the NAMA 2009 valuation will be retrospectively applied to the 2008 accounts or whether a “true” 2008 valuation will be shown.
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I would dearly love to see Mr Gormley’s answers to these questions!
August 21st 2009, Firms claim plan makes strong case for survival, reports Simon Carswell in the Irish Times.
Mr Justice John Cooke was hearing evidence in a fresh petition for the appointment of an examiner to the six original companies that unsuccessfully sought protection in the High Court and Supreme Court earlier this month, and a seventh company, Royceton, which is controlled by Mr Carroll.
September 1st 2009, Anglo Irish Bank is willing to advance €68m to finish Block 1 on the North Wall Quay development and a further €8m to complete cladding on the building.
September 3rd 2009, on RTE's Prime Time show, Minister for finance, Brian Lenehan is brought to question over (national-ised) Anglo Irish Bank's intention too provide €76 million euro, to finish the office block belonging to Liam Carroll.
September 4th 2009, Chairman of Mason, Hayes and Curran solicitors, Declan Moylan, wrote to Ms. Niamh Brennan, chair person of the Dublin Docklands Development Authority to say he had given careful consideration to matters discussed between them - and he had also taken legal advice.
Mr. Moylan offered not to bill for the work he had done since Ms. Brennan's appointment as chairperson of the DDDA in late March 2009. Mr. Moylan had originally been appointed to produce a report on foot of the high court judgement against Mr. Carroll's company North Quay Investments, in October 2008. Which had rescinded the planning permission granted by the DDDA for the development at North Wall Quay in Dublin.
The high court case that concluded in October 2008 had been taken against the Dublin Docklands Development Authority by director of Mountbrook homes property company, Mr. Sean Dunne.
September 27th 2009, former Taoiseach Ahern sympathizes with the build-er(s).
"[Sean Dunne]’s lost a lot of money on it. Sean’s just one of the guys. I know a lot of them, like [Jimmy] Flynn, [Noel] O’Flaherty and the Baileys. You meet the Baileys at Croke Park every time you go there. You can’t avoid getting a slap on the back going in from them. Most of these guys lost their shirt. I feel sorry for them."
See Sunday Times article by Justine McCarthy dated September 27th 2009, Ahern: I feel sorry for those poor builders.
September 2009, solicitor Declan Moylan resigned from involvement in the DDDA inquiry initiated by past chairman Donal O'Connor.
Niamh Brennan, the new chairperson of the Dublin Docklands Development Authority had asked Mr. Moylan to interview Mr. Sean Fitzpatrick, the ex-chairman and chief executive of Anglo Irish bank. Mr. Fitzpatrick had spent nine years as member of the board of the DDDA.
Mr Moylan was given terms of reference for his report and discussed them with the then chairman of the authority, Donal O’Connor. He said he was asked to produce a “lessons learned” report and not to apportion blame, and that he made this clear to people before he interviewed them.
See Irish Times article by Colm Keena, Solicitor quit docks body inquiry as witness was told 'how to interact', dated June 18th 2010.
October 7th 2009, Zoe group faces collapse after ruling, reports Simon Carswell in the Irish Times.
The ruling brings to an end the 11-week pursuit of court protection by the group which has bank debts totalling almost €1.3 billion.
October 11th 2009, Rise and fall of a reclusive tycoon, report by Ian Kehoe, in The Sunday Business Post.
Late October 2009, the 12 month postponed dead line for signing of €200 million tender for U2 tower project is missed. A spokeswoman for the DDDA said,
"We are now reviewing our options for consideration by the board."
A miserable ending to a process that began in 2002, (the same year Mr. Sean-ie Fitzpatrick was appointed to the board of the DDDA) when Bono and his mates were booted out of their original recording studio on Hanover Quay. Lets hear it from Bono again. The U2 singer told Assayas in Bono on Bono,
People want to see an entrepreneurial spirit.
November 30th 2009, John McManus writes in the Irish Times newspaper, Docklands disaster serves as warning on Nama.
It's a measure of how conditioned we’ve become to failure and incompetence in public life that the revelation by the Dublin Docklands Development Authority (DDDA) that it has blown €213 million of taxpayers’ money is met in the most part by weary shrugs and eye-rolling.
Most of the DDDA’s staff are on fixed-term contracts, and job numbers are falling quickly due to non-replacement of staff. There were 55 staff at the start of 2009. This has fallen to 38 and the plan is to have 22 staff by the end of 2010.
Among those due to leave are John McLaughlin, director of architecture and planning, whose contract expires in December 2009.
December 26th 2009, one day after Christmas day.
Simon Carswell of the Irish Times newspaper reports:
The financial Regulator will not approve the appointment of any internal candidates to Anglo Irish Bank’s long-term senior management team until the investigations into the State-owned lender have concluded.
January 13th 2010, Bernard McNamara's docklands empire collapsed.
January 17th 2010, Sunday Tribune journalist Neil Callanan reports on the extensive facts around the Irish Glass bottle site deal(s).
However, if McNamara succeeds in his case against the DDDA, then they are likely to pursue a lien against the money he receives. That is their best way of being repaid. Davy does not envision pursuing other developers to whom it provided mezzanine finance for the foreseeable future, sources said.
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Legal opinion is split on McNamara's chances of success in his case against the DDDA. On the one hand are those who argue that the reasons Davy won its case against the Clare man are the same reasons he is putting forward for why the DDDA should pay him damages. The fact that the Poolbeg planning scheme still hasn't been approved and is facing cost overruns (see panel) backs that view.
January 22nd 2010, Allied Irish Bank takes possession of interest of properties in 4 no. Zoe group companies.
January 2010, Mr. Moylan's report on his inquiry into the DDDA was released to other parties.
See Irish Times article by Colm Keena, Solicitor quit docks body inquiry as witness was told 'how to interact', dated June 18th 2010.
February 7th 2010, TD John Gormley and Lucinda Creighton from the same constituency, engaging in petty point scoring, on RTE's The Week in Politics, hosted by Sean O'Rourke.
Wife of developer Mr. Sean Dunne, ex. journalist Gayle Killilea, decided to initiate a bitch row with Fine Gael TD, Lucinda Creighton. Ms. Killilea offered to give deputy Creighton a job stacking shelves in her supermarket if she lost her seat as a TD.
More time is wasted, by minister Gormley on the wider picture of the Dublin Docklands Development Authority, where Ms. Killilea's husband was involved up to his elbows.
February 10th 2010, DDDA pulls back on school promise.
The principal of St Laurence O'Toole National School, Labour councillor Aodhán Ó Ríordáin, said this was the result of 'reckless land speculation and gambling' by the authority.
February 15th 2010, Occupancy at retail centre in financial zone falls below 50%, reported in the Irish Times newspaper.
The landlord, the Dublin Docklands Development Authority (DDDA), says it remains committed to the ailing centre, which has struggled since it was opened in 2007.
Sunday Tribune journalist, Neil Callanan writes on February 28th 2010:
€50m on retail centre chq, despite striking a deal with Hugh O'Regan that he could buy 75% of the centre after five years for about €25m. That deal is now off the table and the centre may be closed down.
February 19th 2010, Jerry Beades, member of Fianna Fail national executive is interviewed by Sean O'Rourke on Morning Ireland radio show.
February 23rd 2010, Greens deny party knew 'general thrust' of docks report.
February 25th 2009, Fianna Fail are accused of leaking Garda Siochana documents, which related to former Green party leader, Trevor Sargent.
February 26th 2010, A Fianna Fáil activist involved in a high-profile row with the Transport Minister Noel Dempsey has published documents, which he says show the Minister failed to investigate complaints of serious planning irregularities when he was at the Department of the Environment.
Jerry Beades, who is a member of the Fianna Fáil National Executive, came under fire from Minister Dempsey at a party meeting last night - for going on radio calling on Brian Cowen to sack six of his Cabinet ministers. The series letters date back to the 1990s, when Beades says that he urged Dempsey to investigate alleged planning irregularities in Dublin. A week ago Mr Beades went on national radio calling for Mr Dempsey, the Tánaiste, the Justice, Tourism and other Ministers to be sacked. He repeated those calls at a meeting of the Fianna Fáil National Executive last night.
February 27th 2010, Irish Times newspaper, reports on the Jerry Beades and minister Dempsey's row.
Fionnan Sheahan, of the Irish Independent also covered the story.
From Stephen Collin's article of the same date:
Regan, dubbed “the assassin” by Fianna Fáil opponents in the Seanad for the way he highlighted Bertie Ahern’s personal finances and Willie O’Dea’s false affidavit, has now trained his sights on the Taoiseach. He has called on Cowen to make a statement about his handling of the Dublin Docklands Development Authority when he was minister for finance, and about his relationship with Sean FitzPatrick, the boss of Anglo Irish.
February 28th 2010, journalist for the Sunday Times, Justine McCarthy writes:
The oddest twist is that Ireland’s biggest land deal [Irish Glass Bottle site at Ringsend] has come full circle. It was sold by one state company to another, and the bank that funded the deal has also become a state company.
Speaking on RTE radio program The Saturday View, journalist Neil Callanan estimated the overall loss to the taxpayer arising from the Irish Glass Bottle project, to be in excess of €600 million, before a brick is laid.
As of now, it remains to be seen how long John Gormley's Green party will continue to hang on in government, in support of Fianna Fail under Taoiseach Brian Cowen. Either way, it marks the inglorious end to another chapter of our island's history.
June 2010, the report by solicitor Mr. Declan Moylan, chairman of Mason, Hayes & Curran, based on inquiry into the DDDA was published on the same day as two reports for the Irish banking inquiry. One by Patrick Honohan, governor of the central bank of Ireland. The other banking inquiry report was by Regling and Watson.
See Irish Times article by Colm Keena, Solicitor quit docks body inquiry as witness was told 'how to interact', dated June 18th 2010.
September 2010, decision by An Bord Pleanala that the structure built by Liam Carroll's North Quay Investments at North Wall Quay should be retained and completed.
Mr. Carroll will have to submit business plans to NAMA before any further funding will be released.
See Colm Keena article in Irish Times newspaper, September 03rd 2010, Report on disputed docklands plan dropped as author and chairman hit deadlock.
See Colm Keena article in Irish Times newspaper, September 03rd 2010, Nama must decide over funding for Anglo HQ.
August 30th 2010, Permission granted for completion of the North Wall Quay office project.
Namawinelake blogger commented:
The development at the junction of Dublin’s North Wall Quay and New Wapping Street has stood as an empty shell since 2008 following legal wrangles over contentiously-granted planning permission. On 30th August, 2010 planning authority Bord Pleanala finally granted permission for the 3-block, 8-storey, 27,832 sq metre development with 80 car-parking spaces at basement level.
January 9th 2011, RTE News reports,
Taoiseach Brian Cowen had two previously undisclosed contacts with former Anglo Irish Bank Chairman Sean FitzPatrick in the months prior to the introduction of the bank guarantee. In a statement to the Sunday Times, Mr Cowen confirmed he had dinner and played golf with Mr FitzPatrick at Druids Glen in Co Wicklow in July 2008. However, Mr Cowen said that the affairs of Anglo Irish Bank were not discussed during the day. Mr Cowen also confirmed that he took a call from Mr FitzPatrick concerning Anglo Irish Bank shares four months earlier when he was still Minister for Finance.
January 30th 2012, Irish Times reporter Mary Carolan writes in, 'Anglo HQ' case before court.
The “infamous” building earmarked as the proposed flagship headquarters for Anglo Irish Bank is a “more fitting tombstone to the supposed Celtic Tiger,” a High Court judge said today when an action over the property came before him.
Mr Justice Peter Kelly made the comment when dealing with pre-trial issues in proceedings by a German company against Anglo, now Irish Bank Resolution Corporation, which was contracted to provide a facade for the building and claims it suffered substantial loss as a result of the building not being completed.
Brian O' Hanlon
Concluding remarks
The fact is, the Dublin Docklands Development Authority view themselves (or did in the past) as having a 'facilitator role'. They always had a suspicion of other state agencies such as Ballymun Regeneration Limited, and the Dublin Airport Authority. Those other non-funded state agencies had either land holding(s) or revenue stream(s), or both.
Dublin Docklands Development Authority had neither of those, and were painfully aware of that fact. I wrote about it in my blog entry, In Relation to Bubbles. I think a vacuum was created, which Anglo Irish bank correctly identified and tried to inhabit themselves, through the corporate governance route.
Sunday Tribune journalist, Neil Callanan, on The Saturday View RTE radio talk show, February 27th 2010, correctly identified this. He noted, it was Anglo's way to infiltrate all sorts of entreprises and turn them into property development comopanies. That is clearly what happened at the Dublin Docklands Development Authority.
It is easy to see that now. Most of us have 20-20 hindsight vision. We need to remember, that in 2006/7, Sean Fitzpatrick was considered the titan of the Irish property development industry. No one, least of all myself, could have dared question his logic. We should offer that fact, in defense of the executive board of the DDDA. Ireland as a nation, had gone - property - stark raving mad.
I tried to un-earth some of those issues in my blog entry, Where the streets have no name.
I was delighted to hear minister for family affairs and social welfare, Mary Hanafin, on the same RTE radio program, The Saturday View, offer words in defence of the DDDA. She did point out the considerable achievements and transformation won by the DDDA during its history. The new national conference centre and numerous bridges constructed, being extremely good examples. It is important that someone should present that side to the argument.
At the Irish Economy blog site, I did comment on the following piece of EU legislation regarding asset management agencies.
Once assets have been properly evaluated and losses are correctly identified, and if this would lead to a situation of technical insolvency without State intervention, the bank should be put either into administration or be orderly wound up, according to Community and national law.
My question is, does that concept of an orderly wind up, also apply to state agencies that are deemed to be insolvent? (Such as the DDDDA) Or is the Irish taxpayer expected to bail them out in some fashion also? Senator Deirdre De Burca's questions in her 12th August 2009 e-mail to minister Gormley, do apply here.
My blog entry, Who is dealing here with whom? describes the controversy surrounding the Dublin Airport Authority right now. In his Irish Times article, journalist John McManus does point out, the Dublin Airport Authority is basically insolvent.
My blog entry, Liar's Poker, is an attempt to explain why Ireland as a country needs long term asset management companies such as ESB Networks, Dublin Airport Authority, Dublin Docklands Development Authority, Sustainable Energy Ireland and so on.
The above are best read in conjunction with my blog entry, Ryanair to Fail. I am trying to offer a full picture of the mechanism(s) that are involved in the management of valuable state assets, over a long period of time for the benefit of the Irish taxpayer. NAMA is not the first state agency we will operate from a position of considerable financial disadvantage. Perhaps a discussion should take place about that?
Of crucial importance, regarding the Dublin Docklands Development Authority, is what I outlined in my blog entry, Make-up of the board. Namely, the executive board of directors were experienced in finance and business - without a keen insight into development and landscape architecture. That proved fatal.
Of all the elements involved, I believe the introduction of landscape architecture consultant, West 8, to come up with a 'revised scheme' for certain regions of the docklands, did the most to confuse matters.
This is the element in the intricate web of relationships least understood and least reported by the public press and media.
One has to have some degree of training in design and development to appreciate the role played by West 8, in the story.
The members of the executive board of the DDDA weren't experienced in that area.
It is a general problem in management of project(s), that one side of the design team has strengths in social engineering. The other side, may have equal strengths in cost engineering. The skill of project management, is to try and balance the two.
The fatal thing about the DDDA, was the social engineering dimension, drove everything. It was left go un-check-ed and un-supervised. Then a very risky kind of economic model, was bolted onto the other end of the project. Then, shortly afterwards, it all came apart in a dramatic fashion. If I can demonstrate anything in this blog entry, I want to demonstrate that much.
I wrote about the social engineering dimension, in my transcript/blog entries Filling the Urban Void, parts I and II. The social dimension had been engineered by the DDDA to a very high specification. But it was done in insolation, and away from the economic portion of the model. That is always dangerous.
I emphasise a need for better combination(s) of economic and design brain power, in my blog entry, The Shoe Box King. It was that combination, which really broke down during the second phase (property related) of the Celtic Tiger boom years.
Ireland became too clever for it's own good, in using overly sophisticated design and economic models, without knowing how to combine the elements together. We forget those two have to join together properly, by keeping design team(s) tightly integrated, like a Phalanx, as the Shoe Box King would have done, in his best year(s), and best project(s).
Tom Dunne's comment recently at the Irish Economy blog site is worth a quote I think.
The advent of mezzanine finance and what might be called property carpetbaggers, facilitated by Anglo Irish, stockbrokers and other intermediaries as well as other banks later on in the process, exacerbated the upward pressure on prices, spiralling the boom justifying the speculation but, inevitably, only for a time.
Professor Brian Lucey, I think was getting very close to the truth, in his recent Irish Times piece, Misplaced faith that something will turn up.
I have tried to present the case above, in favour of Zoe developments company, who were operating much of their business in the Dublin docklands area. The fact of the matter though, is that companies such as Zoe developments run their operation(s) very lean. I tried to illuminate on that, in the blog entry, Change Management.
Brian O' Hanlon
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Other references:
For more details on history, refer to Dublin Docklands Reinvented: The Post-industrial Regeneration Of A European City Quarter. (Making Of Dublin City Series) ISBN: 978-1-85182-834-0, was published by Niamh Moore in 2008. Niamh Moore is a Lecturer and University Fellow in Teaching and Academic Development at the School of Geography, Planning and Environmental Policy, University College Dublin.
Bank of Scotland Ireland, warns that a third of its €32.5bn loan book is impaired.
August 16th 2009, Neil Callanan writes about The Plans That Crashed To Earth.
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