Monday, October 09, 2006

From 'New Hibernia' magazine , April 1987.

Joe McGrath and Jack O' Sheehan are dead : Archie Doyle went , though not before telling us how they had shot Kevin O' Higgins : Eamonn Duggan is no more , nor Uncle Jack and Aunt Molly .

Maybe it's time to think about the living , for I believe that there is still some twelve million pounds in the Irish Hospitals Trust account : why not divide it between the sacked employees who , over forty years , have done as much as anybody else for the good of medicine in this State ?
(Next - 'Pillars of Society - Michael O' Leary' : from 1986)

The latest passports for investment revelations involve a controversial £10,000 donation to Fianna Fail by US investor Gerry Lindzon .
There are grounds for suspicion that much of the money that changed hands in other deals was never intended for investment in the business but rather a 'facility fee' which accrued to the company for allowing its name to be used .
By Daire O' Brien .
First published in 'MAGILL' magazine , March 1999 .

There is an unconfirmed account , related by one source who successfully operated as a go-between for investors and Irish companies , that a bank could give 'letters of comfort' to the investor , effectively guaranteeing the return of his/her money in exchange for a " discounted " facility fee . If this is the case , the 'Passport For Investment Scheme' was abused and no 'investment' , in the sense of risk , was ever made .

In the most 'famous' case , that of the Masri's investment* in C&D Foods (*by Munib R. Masri) , no information has ever been forthcoming on what exactly the Palestinian businessmen got for their investment , or even how much the investment was. The man who is regarded as the facilitator for the Masri deal , Roscommon accountant Brian O' Carroll , spoke to 'Magill' magazine : we asked him three questions regarding the transaction -
A) The size of the Masri's investment ?
b) What class of equity was issued in return for the investment ?
c) If no equity was invested , what did the Masris receive from C&D Foods ?

Brian O' Carroll confirmed to us that the investment was £1.1 million : he stated that he did not negotiate with the Masris on the shape of the investment - that he just effected an introduction - but that the money was a "" and did not involve equity changing hands . On what the Masris received in return , apart from two passports , he says that there was a promise of "...ongoing.." trade links between the Reynolds and the Masris.......

From 'The Phoenix' magazine , February 1985 .

Tony Gregory was proved wrong in not running Mick Rafferty in the by-election caused by the death of Fianna Fail's George Colley - (Provisional) Sinn Fein's Christy Burke , who was also involved in the anti-drugs campaign, outpolled the (State) LabourParty and gave the Workers Party a run for their money .

With Fianna Fail and Fine Gael now set to throw all their resources into winning Dublin seats at the next election , Tony Gregory's position is in danger : unlike the days when he held the aces , he can no longer deliver . Crumbs from 'the deal' still remain , but that may not be enough . He is still popular , but with Charles Haughey and Garret Fitzgerald offering the sun , moon and stars , Gregory may fall down on the vital first preference vote.

He could then find himself battling for transfers , which was how he came to Leinster House in the first place .
[END of 'The Younger Breed : Tony Gregory']
(Next-'Empires Of Dust' : from 'MAGILL' magazine , 2003)