NAMA Board receive huge salary increases - PS workers get cuts

[inthemire]

by D4 I am referring to the Cabal of Lawyers and Others of the professional classes that are aligned to FF and will over the course of the next few years bleed this taxpayer dry via NAMA fees and appointments to boards and quangos

D4 is very well populated by professional FF'ers

(and remember Dublin voters fell for Haughey, Ahern, Burke, Lawless.... shall I continue in checking your anti-bogman rant?)

yeah, it looks a bit anti-boggish alright! Sorry!

What I was somewhat ham-fistedly trying to point out is that people OUTSIDE of Dublin use their TDs FAR more than people IN Dublin. Perhaps it is the closeness of services in Dublin, when I worked on TD Reps, it was incredible the larger number of reps which came from outside Dublin, against the number which came from Dublin TDs. almost a million people lived in Dublin, but yet reps came in 12-15 to 1 from Rural TDs.

Maybe us Dublin people who don't use their TD as a "one stop shop for all public services" are just stupid and don't realise that TDs are there to get us things like Forms, passport applications, pension etc, but I would have thought that statutory things are avaiable to all, and not just via your TD.

It wasn't anti-boggish intentionally, although I can accept that you see it that way. It was more aimed at the silly way that TDs are used, both by themselves to garner public support, and also by citizens too lazy to do something for themselves.

[markeys]

FF are the Loréal of the Irish people.

You know it's true.

[beamish2010]

*shakes head* -there are 400,000 people unemployed here for starters - i think some of them have financial abilities. All are availalbe all the time.

Our complicated billion euro organisations have been led up to now by incompetent, greedy, possibly corrupt, certainly incapable individuals, but yet still remain on in their positions.

There are several billion people in the world. Many don't know about Fianna Fail. Of these several billion there are many who run complicated billion euro organisations FAR better than ANY, i repeat, ANY irish bank was EVER run in this state.

ABN AMRO, RABOBANK to name but 2 are run better than ANYTHING here. And that's only in Holland! Jesus, you are SO deluded by FF propaganda!

ABN & RABO don't play games that FF want. They run themselves properly, with rules, within the law. That's why they aren't being asked to provide staff to our NAMA.

How many times have we bailed out AIB again?? And this time they were joined by BOI, PTSB, and of course the most useless, most corrupt, most greedy, most incompetent of alll - Anglo.

The typical Zanu-FF policy is Robin Hoods philosophy in reverse.
Bail out the greedy and screw the needy.

Jobs-for-the-boys-socialism indeed.

[NAMAwinelake]

Sync,

I agree with you 100% - €170k to chair NAMA, one of the biggest property funds in the world which has the weight of the financial freedom of future generations on its shoulders in very little and although I don't know the salary and bonus of the chairman of GE Real Estate (the closest commercial comparison to NAMA) I would be surprised if it was less than a few $m a year. HOWEVER because of the huge public cynicism towards NAMA, it would have been far better to put in place a performance bonus instead of a fixed salary - many people are scoffing at the projected €5bn profit for NAMA, what a rebuttal it would have been if he was paid €35k a year and a .1% of the NAMA profit.

[Sync]

Sync,

I agree with you 100% - €170k to chair NAMA, one of the biggest property funds in the world which has the weight of the financial freedom of future generations on its shoulders in very little and although I don't know the salary and bonus of the chairman of GE Real Estate (the closest commercial comparison to NAMA) I would be surprised if it was less than a few $m a year. HOWEVER because of the huge public cynicism towards NAMA, it would have been far better to put in place a performance bonus instead of a fixed salary - many people are scoffing at the projected €5bn profit for NAMA, what a rebuttal it would have been if he was paid €35k a year and a .1% of the NAMA profit.

I'd agree fully with that. You'd have had a lot more international interest as well (maybe not at 35, something more reasonable like 60 for instance), get a better quality management team. If this were to turn 5bn, you'd get the same people whining about how unfair it is that this guy walks away with €50 million though.

[turdsl]

*shrug* If you can find someone with experience chairing complicated billion euro organisations who is willing to be available all the time to the detriment of other business ventures they're involved in who'll work for less than that feel free to highlight them.

The government tell us they have no money, they have to take it of the low waged, the poor and the blind,Look at the toiseach salary, twice to much, plenty of money and jobs for their friends, I suppose the electorate put them in power and this is the treatment they deserve.

[dub14]

Here's the thing...

Image I apply for a job which has stated terms and conditions. I'm successful, start the job but 3 weeks later I see that it's busier than I expected. I go back to the boss and ask him for a rise...... In Planet FF it's a no brainer - just give him what he wants as it's only taxpayers money anyway. Meanwhile back in the real world the rest of us would be lucky to survive the converstion with the job intact never mind get the pay rise.

Are we also to believe that this decision happened in late December. Add that to the senior civil servants decision and it seems that our much lauded MoF is indeed a great friend to have around Christmas.

[Sync]

The government tell us they have no money, they have to take it of the low waged, the poor and the blind,Look at the toiseach salary, twice to much, plenty of money and jobs for their friends, I suppose the electorate put them in power and this is the treatment they deserve.

How does that relate to my point? Do you think you could get someone competent to take the job for the AIW without huge bonuses attached (as outlined by Wine?)

Here's the unfortunate fact: For the vast majority of people in this country, you end up earning what you're worth. And I know people can make hilarious jokes about what Coughlan earns or whatever, the fact is, if you're earning 35k, that's what you're worth to the economy. And there's probably a very high number in the 400k unemployed who could do your job as well as or better than you.

If you're looking for someone who can chair and lead a multi billion euro exercise, the amount of people in that 400k who can do the job reduces to 0. That's why the salary goes up. It's simple supply and demand.

If you're 40 years old on the AIW and saying "Gosh I could do that" well guess what, you've had the option of 18 years of education and 18 years of performing in work, and it just hasn't happened for you. That's not the head of NAMA's fault and it's not the fault of the people who did work themselves silly in college and work.

Agree on the blind, reducing their welfare was wrong and politically stupid.

[toughbutfair]

While I support all cuts, this is a real kick for the average PS worker. I'd be very angry.

[Sync]

Here's the thing...

Image I apply for a job which has stated terms and conditions. I'm successful, start the job but 3 weeks later I see that it's busier than I expected. I go back to the boss and ask him for a rise...... In Planet FF it's a no brainer - just give him what he wants as it's only taxpayers money anyway. Meanwhile back in the real world the rest of us would be lucky to survive the converstion with the job intact never mind get the pay rise.

Are we also to believe that this decision happened in late December. Add that to the senior civil servants decision and it seems that our much lauded MoF is indeed a great friend to have around Christmas.

We haven't seen the contract, I'd be more than willing to believe that FF just stuffed up how much of a chairman's time they thought this would take up (i.e the normal 3-4 days a month). In fact setting this up would require a huge amount of input from the chairman, probably on a daily basis.

I know certainly if my company asked our Chairman to change his current arrangement with us to be available all the time and be working for us for most of that he'd either laugh, walk away or ask for a lot more money.