Anglo companies

Since we now own them – I will be buying and publishing the accounts for all Anglo Irish Bank subsidiaries. Many of them have or had Minister Brian Lenihan as a director.

First up is Anglo Irish Asset Finance, 2008 and 2009 accounts. The 2009 accounts contain the now infamous yen loss, Colm McCarthy referred to recently. The notes to the accounts are particularly interesting

Anglo Irish Asset Finance PLC 2008 Accounts

Anglo Irish Asset Finance 2009 Accounts

Fine Gael and O'Flynn

The defence used by The Very Different Party to Fianna Fáil for tapping up a Nama 10 developer for donations is not inspiring.

The main opposition party has long criticised Fianna Fail’s record of raising money from property tycoons, citing a “cosy relationship” between the government party and developers.

Mr O’Flynn is company chairman and managing director of Cork-based O’Flynn Construction, which recently transferred debts approaching €1bn to the National Asset Management Agency.

The party’s finance spokesman Michael Noonan last night said the exclusive fundraiser at the K Club last week was above board, but would not comment further.

“Our fundraising is in compliance with the rules,” he told the Irish Independent.

Mr O’Flynn ‘sponsored’ the 18th hole for the fundraiser for an undisclosed sum. If done through his company the figure will need to be published in the annual accounts. Fine Gael will only have to disclose a figure if the profit from the sponsorship is above the ridiculously high declaration limit of €5037. However, they’ll not be required to provide documentary proof that the gross income minus the expenses for the day resulted in individual or collective breaches or non-breaches of the declarations. Of course, this all means that there will, almost guaranteed, be no breaches of the declaration limit on the day. Thus the undisclosed sum will likely remain undisclosed.

Hell, political parties aren’t even required to publish accounts, despite SIPO and the Council of Europe Group Against Corruption saying it should be a basic standard for more than a decade. So we’ll no little about what sums passed between the party and those in attendance on the day.

In recent years the opposition has taken the moral high ground on ‘legal corruption’ and accountability issues, citing the Galway tent consistently as an example of how Fianna Fáil has been ethically compromised. Yet they rarely if ever attempt to hold themselves above the standard of the “board”.

The SIPO rules were written and implemented under Fianna Fáil. Fine Gael and Labour say they need to be reformed; what’s stopping Labour and Fine Gael from holding themselves to the standards now that they wish to implemented if they get into power? Why not take the initiative and publish accounts, expenses and all donations above a lower minimum limit, as an excercise in transparency?

Politics over democracy, innit?

The Greens have their own standards for accepting donations. Praise deserved. Pity they don’t see fit to publish donations below the minimum declaration limits. All parties accept that the lower limits are too high, as far as I know. So what’s the problem?…

On that topic, I’m still waiting to see the transparency-related reforms detailed in the programme for government. Any news on that lobbyists’ register, Minister Gormley?

Digest – 18 July 2010

Oh, indeed.

HOME

Alexia Golez on innovation, or lack thereof, in Ireland.

Slugger on the coping stone incident in which a police officer was injured during the Ardoyne riots. Related; JC Skinner on why ‘Orangefest’ is wrong. BBC Northern Ireland political editor, Mark Davenport, ‘groundhog day revisited’.

Short recommended read of the week; Colm McCarthy on the the post-guarantee events at Anglo. What frustrating week, documents released, media tells us what everyone said, documents become secondary. Sue-pwerb. Debate has ended up as a Noonan-said-but-Fianna Fáiler-said waste of time. utterly stupid. No debate about why all this information is only emerging now, after several further chunks going the banks’ way.

Also, Karl Whelan ‘serious questions about post-guarantee Anglo policy‘.

Two new geolocation systems for Ireland launched.

New political parties are like buses. Unkie Dave on Direct Democracy and Green Party ‘splinter group’ Fís Nua.

Puckstown Lane on Seanie Fitzpatrick’s loans.

WORLD

Long form recommended reads of the week; Michael Yon continues to write about his time spent in Thailand during the red-shirt protests earlier this year. His ‘Even As The World Watched’ series focuses on media coverage of the situation, with an on-the-ground perspective. Parts one two three and four have been published so far, all image-heavy. Interesting reading and viewing.

John Naughten on one of golf’s more interesting characters, the Royal & Ancient Rabbit.

Ezra Klein understands the [massive] importance of rushes, archive and historical records.

Building your own editorial brand; by Deborah Bonello on videoreporter.com

If you’re in the least bit entrepreneurial and want to be known for your work rather than just the media you work for, then the web is huge opportunity for you. Yes, you may have to work for free to build up a volume of content, but it’s a much better way to spend your time than sitting in a newspaper office as an ‘intern’ waiting for someone to throw you a bone.

You get to decide your stories, and how to tell them, and you’ll learn a mountain about how to do it better along the way. Start innovating and get out there – it’s a much cooler way to get noticed, not only by existing media owners (mexicoreporter.com got me a job at the Los Angeles Times and my current employer, the FT), but perhaps even by your own, possibly paying, audience.

Now get out there and get on with it.

Feature-length recommended read of the week: A brief history of visualisation.

OTHER

Documentary; ‘638 ways to kill Castro‘. Channel 4 has put its 4 On Demand service on Youtube. Smart; go where the audience goes. Three adverts then the content. Lots of great stuff on that channel.

Richard Feyman explains, in the most amazing way, how eyes and light work.