The Daily Wire

AIB grilled on mortgages, BOD on the Lions, Anglo art for sale and all the day’s rolling news

Genevieve Carbery Tue, Sep 3
 
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  • 08:59
    Good morning, the best news today is Dublin City Council has finally named one of the capital’s many Liffey bridges after a woman.

    Soon Rosie Hackett’s name, unknown to most, will be on all of our lips. Who was she? A trade unionist activist involved in the lockout 100 years ago.

    Her nephew has just described her on RTE Radio as a “proud but very private woman” and said she would be “giggling quietly” “embarrassed” but “proud” at the news. You can read more about this marvellous choice here.

    It’s Genevieve Carbery here on the live wire all day.
  • 09:15
    One of today’s most gripping reads is about the life fugitive solicitor Michael Lynn was living in Brazil. Ruadhan Mac Cormaic reporting from Recife has spoken to his colleague at an English language school where he earned €640 a month and is described as “incredibly charming” and “charismatic”.  

    He never stopped talking about Ireland, his colleague said. He lived in a house not far from the shark infested sea and was a member of a golf and country club. More here.
     
  • 09:29
    Will the discontinued but coveted reliable old phone the Nokia 6310 , be the basis for the next Windows phone?  Taoiseach Enda Kenny among others has been among the well known faces photographed still using it in recent years

    News this morning is that Microsoft is to buy Nokia Oyj’s phone business and license its patents for €5.44 billion.
    While it’s being viewed as Microsoft’s boldest foray into the mobile market….perhaps it’s a bid to enter the wellie market. The 150 year old Finnish company started as a rubber works, still famous in the Scandanavian nation for making Finn’s favourite rubber boots. 
  • 09:40
    The sale is at 6pm at Adams this evening and will barely make a dent in Anglo's debt (is only expected to raise €200,000) with some painting prices as low as €80. The full catalogue is here.
  • 09:54

    So it’s almost decision time again as the Great Radio War betwen Pat and Sean continues.

    “If this was a prizefight . It was only round one….the more things change, the more they stay the same”, Shane Hegarty said in today’s review here.

    Pat Kenny has given us a preview on Newstalk  today for a show to include Brian O’Driscoll and Mickey Harte on life after Michaela.

  • 10:04
    More on this story here as US president Obama is meeting resistance as he seeks congressional backing for military action.

    Meanwhile Alan Shatter is trying to allay concerns over the safety of Irish troops about to be deployed on a UN mission to the Golan Heights betweenIsrael and Syria. Dan Griffin has more here.
  • 10:07
    Sean O'Rourke has Phil Hogan in studio ...starting with Priory Hall issue
  • 10:14
    Phil Hogan said once the court process is resolved on Priory Hall he will act quickly to rebuild the lives and homes of the residents.
    Asked by O’Rourke if he is going to solve those people’s problems he said “I am”.  
    He said he will engage with banks, look at the most viable option on the building or create new building on the site.  
    Phil Hogan said there will be a €10-12m cost to the Government to deal with the Priory Hall issue.
  • 10:24
    This graphic speaks volumes on the rapid growth of Syrian refugees. In this camp which has become the fourth largest city in Jordan, 13 children are born every day. 

  • 10:31
    Great for the growth of online Irish businesses, the Limerick Coullison brothers open up their highly successful online payments business Stripe to Ireland, describing banks here as “dinosaurs” who did not understand online business.
  • 10:38

    Marijuana is less toxic, addictive and harmful than alcohol....so a campaigner for legalisation of the drug tells Joanne Hunt in today's Health and Family supplement. 

  • 10:47
  • 10:58
    Despite so much talk about struggling homeowners and distressed borrowers it seems we are still obsessed with buying property if the interest in this piece about first time buyers is anything to go by.
    The issue will come up this afternoon as the AIB chief executive David Duffy is due before the Oireachtas finance committee. We’ll keep you up to date on that as it happens.
  • 11:12
    Hard to resist a headline using the words Solar Death Ray. The owners of the 37-story tower known as the  Walkie  Talkie in the City of London financial district are investigating a light beam cast by the building that's so intense it melted parked cars....Bloomberg reports.
  • 11:23
    Pat Kenny and Brian O'Driscoll have just been talking about this moment in Cardiff airport after Leinster's 2011 Heineken cup win (any excuse to play some classic YouTube footage).
  • 11:23
  • 11:27
    On being excluded from  the Lions test against Australia, O’Driscoll says it was a “huge disappointment” and he had “huge hurt inside”. “In a perfect world we would have won by one point…and there wasn’t a record scoreline,” he says.  
  • 11:59
    Last week Dublin lord mayor Oisin Quinn was swimming in the Liffey, today he's above it ahead of Flyfest on September 15th. Photo: Frank Grealish/Irish Air Pics
    Last week Dublin lord mayor Oisin Quinn was swimming in the Liffey, today he's above it ahead of Flyfest on September 15th. Photo: Frank Grealish/Irish Air Pics
  • 12:15
    Anna Carey has been speaking to Atwood in today's Irish Times about her book on zombies, yes you read right living corpse zombies, now that's diversity of genre.

    “I had to get her out of the shack,” says Atwood. “How would you do it? You push the bureau over to the door, so all of the zombie cannot get in. Then you open the door enough so that the [zombie’s] upper half can protrude through the doorway.

    More here 
  • 12:17
    “You don’t get over these things you learn to live with it,” Mickey Harte has told Pat Kenny about the death of his daughter Michaela. Harte says his faith “never wavered” and it has been his “survival kit”.
  • 12:32
    Anyone else think of the Game of Thrones' 700ft high ice barrier guarded by the Night's Watch and protecting the Seven Kingdoms from the white walkers, when they see this story? 

    Well it's not quite that the Japanese are building, it's a €245m massive underground wall of frozen earth around the damaged Fukushima reactors to contain groundwater flows.
     
    All this comes as days before the International Olympic Committee decides whether Tokyo will host the 2020 Olympic Games.
  • 12:35
    “Each time the dolphin got into the wave, I dived underneath, held my breath and waited for the moment when he would swish through a silver barrel close enough to my lens....water visibility is always very limited in Ireland and I was very lucky to get a shot like this.” Photographer George Karbus describes how he got this award-winning shot.
  • 12:45
    This just in via Bloomberg :  Israel has tested its missile-defense system, provoking war jitters in the Middle East . Russian news reports the launch of two missiles in the Mediterranean Sea. The Israeli Defense Ministry said it will release more details later....
  • 13:05
    Communicorp has hired the shock jock of night time radio as Adrian Kennedy is moving to 98fm it was announced today, just a day after the king of morning radio (Pat Kenny) moved to sister station Newstalk.

    Kennedy has presented the late night phone in show on FM104 for 16 years, well known for its insomniacs, people who say “’I’m not racist but” and looking at  issues like drug addiction. He is moving with his producer to a new daytime slot from early next year, 98FM is reporting.
  • 13:13
  • 13:19

    Graham Usher of the Priory Hall group welcoming Phil Hogan’s statements about helping residents said it was “an incredible way to inform the residents of this through the media…we’ve not met the minister” he told RTE Radio. “He needs to sit down with us and discuss this with us” he said. 

  • 13:27
    Some ideas today on occupying your time when you turn pensionable age....like swimming across the Florida Straits from Cuba without a shark cage...as Diana Nyad (64) has just done. You'll find the video here:  
  • 13:39
    If you're on the northside streets of Dublin today,watch out for a rather unfeminine looking lady in a pink cardigan as the Bafta-winning Mrs Brown is making D'Movie on Moore Street.

    In a press release today Brendan O'Carroll said "It’s amazing to see Mrs. Brown go from Radio to Books to Plays to Television and now to Film. It just shows that I know a bandwagon when I see one."
  • 13:56
    Former Senator and current Sinn Fein TD Pearse Doherty has described the Seanad as an “affront to democracy”. “The Seanad as it exists is an affront to democracy and runs against everything that a true Republic with real values should stand for,” he said.
    The vote is just over a month away on October 4th. The nation is holding its collective breath for the result. Steven Carroll has more. 
  • 13:59
    briain http://en.wikipedia.org/wiki/Islandbridge not exactly accurate on the bridge story, it's the first time since the foundation of the state that a bridge over the liffey has been named after a woman
  • 14:01
    Thanks for the comment Briain you're quite correct previous Liffey Bridged after women before the foundation of the State included Queen Victoria Bridge (now Rory O'More bridge)
  • 14:03
    AIB chief executive David Duffy is due before the Oireachtas finance committee any minute. We'll keep you up to date as it happens. You can watch it live here.
  • 14:21
    We all have stories of airline frustration but one man used the above promoted tweet to vent his after British Airways lost his father’s luggage. BBC has more here. British Airways has apologised and is due to deliver his bag today.
  • 14:31
    AIB chief Duffy tells Dail committee the bank has reached 4,400 permanent solutions with mortgage-holders in arrears .
  • 14:34
    Duffy says some 2000 AIB customers have deposits which are bigger than their arrears.
  • 14:35
    Duffy talking a lot about strategic defaulters which he says is 4% of mortgage holders and has outlined what they classify as someone chosing not to pay their mortgage.
  • 14:50
    Duffy says a quarter of AIB buy-to-let mortgages have made no payments in the past six months
  • 14:56
    AIB’s Duffy says the bank offered 1600 split mortgages so far this year and has generally made over 8000 offers to resolve mortgages so far this year.
  • 14:59
    New owner of the Washington Post, Amazon’s Jeff Bezos has given an interview to…the Post. “We’ve had three big ideas at Amazon that we’ve stuck with for 18 years, and they’re the reason we’re successful: Put the customer first. Invent. And be patient,” he said. “If you replace ‘customer’ with ‘reader,’ that approach, that point of view, can be successful at The Post, too,” he told the paper.
  • 15:00
    FF TD Michael McGrath has criticised Duffy for not giving the committee figures before the meeting, but has welcomed the level of detail being given by the AIB chief.
  • 15:02
    AIB's David Duffy says 16,000 new people came into arrears this year.  
  • 15:04
  • 15:15
    While we're all in September back to school/college/work mode, a bit of an Indian summer has snuck in outside. It's 22 degrees and sunny in Dublin right now according to Met Eireann's latest temperature report. Woop.
  • 15:15
  • 15:20
    There's stiff competition for the bizarre story of the day. Could it be this from Reuters: Black Portuguese millipedes are suspects in a rear-end collision between two trains in Western Australia on Tuesday after hundreds of the tiny creatures were found squashed in a slippery mess on the track. Six people were treated for stiff necks.  
  • 15:35
    “There is not enough programmes on television where you can sit down for a half-an-hour and laugh. We’re not trying to give a message," Brendan O'Carroll the man behind "foul-mouthed matriarch" Mrs Brown has told Ronan McGreevy in Dublin today.  
  • 15:51
  • 15:55
    “If everyone goes back and throws the key in you can kiss AIB goodbye” Duffy tells Oireachtas committee. Report here.
  • 16:05
    Meeting congressional leaders today Obama said he was confident the house would vote in favour of US military action in Syria. Photo: Larry Downing/Reuters
    Meeting congressional leaders today Obama said he was confident the house would vote in favour of US military action in Syria. Photo: Larry Downing/Reuters
  • 16:24
    So many numbers being thrown about at this AIB oireachtas committee meeting....I think TDs will be rereading the transcripts later. One number the executives did not have was the amount the bank will pay to bondholders this year when asked for the figure by Richard Boyd Barrett.  
  • 16:43
    The latest from Washington, Republican speaker of the House of Representatives John Boehner said he would support Obama's call for military action in Syria and urged his colleagues in Congress to do the same.  
  • 16:48
    I don’t think a letter saying ‘you must engage with us’ counts as an offer of a long term sustainable restructuring of a mortgage, Wicklow TD Stephen Donnelly tells AIB executives at the Oireachtas finance committee. He posits there are just 600 offers rather than over 8600 offers of long term restructuring as AIB said .  
  • 16:52
    Split mortgage means an effective tax rate of 76% TD Stephen Donnelly tells AIB adding that this is why people aren’t taking up split mortgages.  
  • 17:03

    Don't get sick on September 25th, breaking news just in that the IMO has served notice of a one day national strike by junior doctors on the HSE for Sept 25th (a Wednesday).  

    Following this each week a strike will be called in at least one hospital in each region in the country.

  • 17:20
    “Who was in charge of the ship when you were steering so steadily towards the rocks” senator and Trinity economist Sean Barrett asks AIB in the Oireachtas financial committee referring to “reckless” lending and pointing to AIB case studies which show someone with a salary of 46,000 who has debts of over 300,000. AIB chief Duffy replies that the bank has a new board and many senior people who were there are gone.
  • 17:43
    Boards of banks deserve to be “caned for their ignorance and downright recklessness” for causing a “lost generation” of financial “slave galleys”, former banker and independent TD Peter Mathews tells the AIB at the finance committee, making his voice heard, despite having been removed from the committee in recent months after voting against FG on abortion legislation.
  • 17:53
    Independent TD Shane Ross says mortgage is a “different type of debt” and a “two-way business” the borrowers’ fault as well as the lenders’ fault. “Isn’t there a very good case where you should be bottom of the pile rather than prioritised”. Duffy says this is “completely impractical”.
  • 17:55
    Ok folks, just as the finance committee chairman is anxious to wrap up to "appear on the Six One news", I've less glamorous plans to go enjoy the 23 degree sunshine outside. Thanks for reading.