I have a little project that I want to get together that involves modifying a Fonera to do various things. I need some help with the electronics part of it. Is there anybody around town who can help with this?
‘Privatize them all’
Richard Tol writes in today’s Irish Times about how to turn the Irish economy around. You probably don’t see it in the online edition, but the subeditor responsible for the front page has summarized the article as ‘Privatize them all’. (Some comment on ‘The Irish Economy Blog’
The cuts are pretty small when you consider the context – it costs 60 billion to run the country, we will only get 40 billion in taxes. The plan is to cut back by a few billion, and just borrow the rest. Of course, the debt will bear down on us in the future.
At least he didn’t slur his speech.
It’s always nice when the international press pays attention to you.
The hard truth about the Irish knowledge economy:
In a further blow to the ailing economy, Google has decided to abandon plans to locate up to 100 software engineering jobs in Ireland because it was unable to find enough qualified candidates here.
A little over-dramatized in the Evening Herald but a very serious issue. We are not turning out enough engineers and we are not attracting enough engineers from abroad.
The future of personal transport
Transport is a big problem, at the personal (how will I get to work?), economic (How much is it costing to move all these people around) and environmental levels (What damage is all this movement causing?). A few interesting links:
New suburbanism is a new way of solving the environmental crisis, an alternative to ‘new urbanism’ (which basically means creating more dense urban areas). The problem with the concept is that the underlying principles (which are really assumptions) are mainly wrong. You cannot support a global population of ten billion people on this planet if they are all spread all over the place, have an attachment to their living places, are not subsistence farmers and have to travel to congregate at work or school on a regular basis. Continue reading
Aer Lingus needs to get real
David McWilliams thinks that the Irish public is being a little unrealistic in its assessment of the Ryanair bid. He is right. The comments give an indication of how unrealistic the public is. But the reality is that Aer Lingus is a minnow in a world of eagles and it has to be bought by somebody if it is to avoid the disastrous fate of Alitalia and many other flag carriers before it.
It is interesting to see the perception people have of Ireland’s biggest airline. There is an assumption that because Ryanair does one particular thing well, or a particular way, that it cannot do anything else.
In the land of the euros, the one eyed man is king.
Simon McGarr writes about adventures in the world of the European Movement. I do not think it is quite factual to say that Margot Wallstrom, the VP of the Commission (whom everyone in Ireland insisted in calling ‘Margo’ in honour of the Queen of Country) spent the evening speaking to bloggers, although a considerable amount of time was spent.
Shinsei Bank – a model for Irish banking reform?
J.C Flowers is one of the companies apparently interested in investing in and restructuring Irish banks, in particular, Bank of Ireland. The same company took over Long Term Credit Bank of Japan and restructured it into Shinsei (‘rebirth’) Bank which according to Joichi Ito describes as ‘an example of how legacy companies in Japan can be turned around with good management and smart methods’.
A lot of people are concerned that foreign investors will do something radical with the Irish banks. But the reality is that this is what is required. Our banking is not anything like as efficient as it could be and our bankers are nowhere near as smart as they thought they were. If the sector does not restructure itself now, it will have restructuring forced upon it by competition from across the eurozone within a few years. It is worth reading what former Bank of Ireland CEO Michael Soden has said. Leaving things the way they are is just not an option.
Dublin Bus loses 4 percent of passengers
According to a report in the Tribune, Dublin Bus has 4 percent fewer trips this year compared to last year. This amounts to tens of thousands fewer trips per day, and a great deal of lost revenue. This reduction in numbers is despite the fact that petrol prices have never been higher in the last year, and despite the fact that parking charges in the city centre are growing ever higher.
The most likely explanation is that Dublin Bus is feeling the effect of migrant workers leaving Ireland. The increase in bus passenger numbers in recent years was the result of immigrants, not the result of people leaving their cars behind.
The Department of Transport, which pays a large subsidy to Dublin Bus now has to accept that despite extensive marketing efforts, Dublin Bus management largely failed to entice drivers out of their cars. The problem is that the service DB provides just isn’t suited to the modern city and the modern commuter.
It’s not a capacity problem anymore. There is now overcapacity on Dublin’s Buses. Throwing more vehicles at the problem won’t solve anything. The whole public transport system of Dublin, in particular of the bus service that forms the core, needs to be completely redesigned to meet twenty-first century needs.
bailing out Irish banks
The government has already bailed out Irish banks. Now it has to do so again. The reason for this is that it wasn’t done properly the first time. The guarantee was simply no help. Although it provided liquidity (i.e., so that the banks could get a few euros on tick to carry on trading) it did nothing to deal with the losses that have resulted from the fall in the value of property and the resulting fall in value of the loans secured on property. The banks need capital invested in order to cover this.
Until they get the money, they won’t be able to lend money to businesses, and that will result in unnecessary bankruptcies and undermine whatever growth there is in the economy.. I am just after hearing about a business that can’t raise a ten thousand euro overdraft – the lack of facilities will stop this business from growing. (Bill Cullen agrees with me, so obviously it must be true.)