Equifax CEO Richard Smith Gets Grilled by Warren

There is a major issue in the way corporations are allowed to do business after a serious breach in security. Equifax positioned themselves to give “free credit monitoring” to those affected by their data breach, but for only one year. Senator Elizabeth Warren pointed out in questioning that if just one million of the seven million people who registered for the free credit monitoring stayed on for just one more year, Equifax would earn over $200 million. LifeLock has seen its paid monitoring soar by 10x since the Equifax breach. And who does LifeLock purchase their credit monitoring services through? Equifax. You can’t make this stuff up.

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Business and Leadership Ltd.

Unless you’ve been hiding out under a rock, you’ve heard about the controversial House Bill 2 in North Carolina, famously referred to “The Bathroom Bill” which has led to boycotts from entertainers and corporations, however, none with a bigger sting than the 2017 NBA All-Star Game which was scheduled to be played in Charlotte and bring in a projection $100 million in revenue. It was pulled by the NBA due to anti-LGBT discrimination. However, HB2 was not about bathroom use, that is what Governor Pat McCrory used as a smoke screen to get put into law that you could no longer sue your employer over a firing due to discrimination.…

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Amgen Opens US$300M Manufacturing Facility Dun Laoghaire

Biotech company Amgen’s US$300m state-of-art manufacturing facility in Dun Laoghaire was officially opened this morning. The development project included the construction of an 11,500 sqm production plant known as production module 3 (PM3), a new 5,800 sqm cold-chain warehouse and significant refurbishment of the other buildings that were already on site. Amgen said its new syringe filling facility adds to the capabilities that already exist at the site and positions the Dublin plant as a critical location within the global organization. Work on the project, which was supported by the Department of Jobs through IDA Ireland, began in November 2011 and created over 500 construction jobs. The site was previously owned…

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Business and Leadership Ltd.

Supermac’s founders Pat and Una McDonagh have announced plans to develop three motorway service stations over the next two years, creating 220 jobs. They made the announcement as construction begins on their €8m motorway service station on the M6 with the laying of the first block by Minister of State for Transport, Tourism and Sport Michael Ring this afternoon. The Junction 16 Kiltullagh Plaza will open in early 2016 and will provide 100 jobs. According to its developers Pat and Una McDonagh of Supermac’s, it will be the country’s largest motorway service station. Its food offerings will include Mac’s Place Deli, Bakery & Fresh Carvery, Supermac’s, Papa John’s Pizza, SuperSubs…

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Irish Infrastructure Fund secures deal to operate the Convention Centre Dublin

The Irish Infrastructure Fund (IIF) has secured the concession contract to operate and maintain the Convention Centre Dublin (CCD) in a deal which also includes a licence to build and operate a 330-bed hotel on a site nearby. Managed by Irish Life Investment Managers and AMP Capital, the IIF was launched in 2012 with a €250m commitment from the Ireland Strategic Investment Fund. Since being announced as the preferred bidder for the CCD last February, the fund has increased investor commitments to over €400m with 14 institutional investors participating in the funding round to complete this transaction – which also includes a long-term lease of the car park underneath the…

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Business and Leadership Ltd.

Discount supermarket brand Aldi has opened its seventh store in Co Kerry, in Kenmare, which will create 20 new jobs. To mark the opening Aldi provided breakfast samples and family entertainment and Radio Kerry broadcasted live from the site. Five shoppers won €100 Aldi vouchers each. This brings the total number of Aldi stores in Ireland to 116, with the first having opened in 1999. Since 2008 Aldi has almost doubled the number of Irish suppliers it works with and more than 50pc of Aldi’s supplier spend is now with Irish suppliers, producers and manufacturers. Sorcha Corcoran

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Bad debt judgments

The total value of judgments awarded by the courts in the first half of 2015 for bad debts amounted to just over €220m, up 32pc on the same period last year, according to figures released today by Vision-net.ie. The average value of judgments during the period was €95,333, up 27pc on the same period in 2014 (€74,818). Some 1,692 judgments were awarded against consumers in the first half of the year, up 6pc on the same period in 2014. Consumer judgments during the first half had a total value of €202. 8m, 41pc more than in H1 2014. The average value of consumer judgments during the first six months of…

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Business and Leadership Ltd.

Shared services centres (SSCs) are on a clear expansion path in Ireland and are set to create more jobs, according to a survey that was carried out jointly by PwC and the ACCA (the Association of Chartered Certified Accountants). However, there is room for improvement in how they operate and also in their use of technology. The findings highlighted that SSCs are becoming more popular in Ireland as multiple delivery centres, particularly for multinational companies looking to centralise not only cross-border functions such as accounting and HR, but also areas such as treasury, payroll, supply chain management, procurement and tax. “With a highly talented workforce and competitive tax regime, the…

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Business and Leadership Ltd.

Professional services firm Deloitte, which currently employs over 2,000 staff in Ireland, has announced the acquisition of IT consulting company System Dynamics. The terms of the deal have not been disclosed. Dublin-based System Dynamics has been providing IT consultancy services to a wide range of Irish and UK clients for over 40 years and the acquisition will significantly increase Deloitte’s presence in the sector. Under the deal, all 200 System Dynamics staff will transfer to Deloitte. Commenting on the acquisition, Deloitte managing partner Brendan Jennings described it as an extremely positive development for the firm in Ireland. “We have experienced huge growth in demand for our technology consulting services including…

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Positive sentiment in house building

The number of housing projects started in the first four months of 2015 have dropped by 51pc to 1,698 compared to the same period last year, while planning applications have gone up by 18pc to 4,602 nationally year on year, according to the National Housing Construction Index published by Linked2Plans. Danny O’Shea, managing director of Link2Plans, said this continued a trend from the start of this year. “Link2Plans considers the first half of 2014 to be very much an outlier in terms of construction activity on account of the structural changes in the market, which saw the introduction of new buildings regulations on 1st March 2014. “These one off changes…

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