Green Shoots - How Michael Noonan ended the recession

Julio_Geordio · February 22, 2012, 8:13am

Primary reason why they come in the first place probably. There are huge advantages to Ireland which then encourage them to stay and develop their businesses here. Google is a good example, they have spent a couple of hundred million on property in th last 12 months and are hiring non stop. Lot of Irish working there but loads of Dutch, Swedes, French etc. it is easy to attract them to live in Dublin now so not wholly relying on local talent.

I think it’s very interesting looking at the reaction to these announcements. Not just on here but across a lot of media and talking to people in general. Using this thread as an example it has been questioned if the number of jobs is inflated, what the quality of jobs are, if Ireland’s only selling point is our tax rate. Not one person, including myself, has complimented the IDA or the Gov for this result. I think it is in our nature to be sceptical and challenging of a lot of information we are getting from any source but this does tend to make us overly negative.

This Paypal announcement is great, as is Google setting up their New Data centre in Dublin. We had the next PM of one of the most important economies in he world on an official visit for the last few days, That’s a serious coup IMO as China is somewhere we will need to drive future growth. There is a major focus on food and agri and the likes of Kerry Group and Glanbia and several others have really made massive strides over last few years.

We are still under the cosh here big time but have said it few times here now; we were probably two years into the downturn before we fully realised it. We will be at least two years past the bottom before we realise that too. I think 2011 will be seen as the low point and the point when things actually started to improve. Lot to do on unemployment for unskilled workers and this is where we will live or die in a long term recovery but their is huge scope in tourism to be exploited and this will help in that regard, food and agriculture is another area which cn be targeted for growth. We have a favourable climate largely and. Great global reputation and brand. Holland is fourth biggest food exporter in the world, in a country the size of Munster, that should give some idea of the scope that is there to grow the industry

They reckon around 7 years is the average recession turnaround time. We are half way through that now so hopefully we will start seeing some upside.

KIB_man · February 22, 2012, 8:21am

Is it time for me to come home Dan? Recession is over it seems

I think Ireland might be on the road to recovery if it resolved the NAMA and banking debacle. Fair point that Irish people can be very negative and don’t realise some of the good work being done. I read the namawinelake blog a bit and he reckons there are a lot of positives with NAMA, though with his 10 points he was fairly scraping the barrel with some of them. Also reckons the troika have had a reforming effect, again that’s hard to prove but he reckoned the property database for example wouldn’t have come about without external pressure.

The domestic economy is still in tatters though isn’t it?

Primary reason why they come in the first place probably. There are huge advantages to Ireland which then encourage them to stay and develop their businesses here. Google is a good example, they have spent a couple of hundred million on property in th last 12 months and are hiring non stop. Lot of Irish working there but loads of Dutch, Swedes, French etc. it is easy to attract them to live in Dublin now so not wholly relying on local talent.

I think it’s very interesting looking at the reaction to these announcements. Not just on here but across a lot of media and talking to people in general. Using this thread as an example it has been questioned if the number of jobs is inflated, what the quality of jobs are, if Ireland’s only selling point is our tax rate. Not one person, including myself, has complimented the IDA or the Gov for this result. I think it is in our nature to be sceptical and challenging of a lot of information we are getting from any source but this does tend to make us overly negative.

This Paypal announcement is great, as is Google setting up their New Data centre in Dublin. We had the next PM of one of the most important economies in he world on an official visit for the last few days, That’s a serious coup IMO as China is somewhere we will need to drive future growth. There is a major focus on food and agri and the likes of Kerry Group and Glanbia and several others have really made massive strides over last few years.

We are still under the cosh here big time but have said it few times here now; we were probably two years into the downturn before we fully realised it. We will be at least two years past the bottom before we realise that too. I think 2011 will be seen as the low point and the point when things actually started to improve. Lot to do on unemployment for unskilled workers and this is where we will live or die in a long term recovery but their is huge scope in tourism to be exploited and this will help in that regard, food and agriculture is another area which cn be targeted for growth. We have a favourable climate largely and. Great global reputation and brand. Holland is fourth biggest food exporter in the world, in a country the size of Munster, that should give some idea of the scope that is there to grow the industry

Mac · February 22, 2012, 10:39am

Primary reason why they come in the first place probably. There are huge advantages to Ireland which then encourage them to stay and develop their businesses here. Google is a good example, they have spent a couple of hundred million on property in th last 12 months and are hiring non stop. Lot of Irish working there but loads of Dutch, Swedes, French etc. it is easy to attract them to live in Dublin now so not wholly relying on local talent.

I think it’s very interesting looking at the reaction to these announcements. Not just on here but across a lot of media and talking to people in general. Using this thread as an example it has been questioned if the number of jobs is inflated, what the quality of jobs are, if Ireland’s only selling point is our tax rate. Not one person, including myself, has complimented the IDA or the Gov for this result. I think it is in our nature to be sceptical and challenging of a lot of information we are getting from any source but this does tend to make us overly negative.

This Paypal announcement is great, as is Google setting up their New Data centre in Dublin. We had the next PM of one of the most important economies in he world on an official visit for the last few days, That’s a serious coup IMO as China is somewhere we will need to drive future growth. There is a major focus on food and agri and the likes of Kerry Group and Glanbia and several others have really made massive strides over last few years.

We are still under the cosh here big time but have said it few times here now; we were probably two years into the downturn before we fully realised it. We will be at least two years past the bottom before we realise that too. I think 2011 will be seen as the low point and the point when things actually started to improve. Lot to do on unemployment for unskilled workers and this is where we will live or die in a long term recovery but their is huge scope in tourism to be exploited and this will help in that regard, food and agriculture is another area which cn be targeted for growth. We have a favourable climate largely and. Great global reputation and brand. Holland is fourth biggest food exporter in the world, in a country the size of Munster, that should give some idea of the scope that is there to grow the industry

Dan, just on your point on the skepticism regarding the announcements. It’s well justified in most quarters as has already been discussed here. I’ve worked in places previously that were funded by IDA and one of those such announcements was made during my time there. They had RTE and Mary Coughlan (Tanaiste at the time) out for the announcement and I think they mentioned they were creating 100 new jobs in North Kildare. The reality was that half of those jobs were going to be based in London and the other half didn’t exist. However, the IDA needed a good news story to tie in the Kildare county enterprise board and papers will never refuse ink. This was back in 2007/2008.

More recently, where I’m currently working announced 100 new jobs back in January 2011 mostly made up of multi-lingual staff and it wasn’t even give a token mention in any Irish media outlet despite being widely recognised & discussed in the various industry publications. Those jobs were all filled as well for what it’s worth but as there’s no IDA involvement here there was nothing about it.

Fair play to the likes of the IDA for getting these businesses into Ireland in the first place but I think you’re going a bit OTT in looking for them to be praised for producing new jobs for these companies (at least that’s what I think you’re trying to do). In a lot of cases, this will always happen organically but you’ll have the IDA jumping in taking credit for it when they’ve had no involvement and in a lot of cases the figures are completely distorted from reality.

Mac · February 22, 2012, 10:40am

I’m sure they might get light touch regulation and tax rates in several countries in Central America or Africa but that doesn’t mean they’ll go there does it?

balbec · February 22, 2012, 12:51pm

I think I will wait for Larry Duff to declare when the recession is over.

dancarter · February 22, 2012, 7:39pm

Only If you are callin the start of it 2008, I think things went tits up in 06 but it wasn’t largely realised until 08. I was working for a foreign bank at the time, in non property related area, and the shutters were pulled on new lending in early 07, which we thought was madness at the time. Hindsight has proven otherwise. There was a lot of luck in that decision as well and basically one man backed his hunch, if he was wrong he would have looked a serious mug.

dancarter · February 22, 2012, 7:43pm

Nah recession isn’t over, but things have started to improve was more my point, and we are getting there. NWL is a great read. Some absolute dynamite on there today. NAMA have fucking shredded Treasurys claims, all the NAMA affidavits are printed in full on there. Assuming they are factual it will be interesting to see treasury wriggle and the commercial court decision.

Domestic economy is shite yes but ongoing focus on right industries, agri and tourism, is only way forward. We need a bit of luck and something big to land in our laps though to accelerate it

dancarter · February 22, 2012, 7:44pm

Dan, just on your point on the skepticism regarding the announcements. It’s well justified in most quarters as has already been discussed here. I’ve worked in places previously that were funded by IDA and one of those such announcements was made during my time there. They had RTE and Mary Coughlan (Tanaiste at the time) out for the announcement and I think they mentioned they were creating 100 new jobs in North Kildare. The reality was that half of those jobs were going to be based in London and the other half didn’t exist. However, the IDA needed a good news story to tie in the Kildare county enterprise board and papers will never refuse ink. This was back in 2007/2008.

More recently, where I’m currently working announced 100 new jobs back in January 2011 mostly made up of multi-lingual staff and it wasn’t even give a token mention in any Irish media outlet despite being widely recognised & discussed in the various industry publications. Those jobs were all filled as well for what it’s worth but as there’s no IDA involvement here there was nothing about it.

Fair play to the likes of the IDA for getting these businesses into Ireland in the first place but I think you’re going a bit OTT in looking for them to be praised for producing new jobs for these companies (at least that’s what I think you’re trying to do). In a lot of cases, this will always happen organically but you’ll have the IDA jumping in taking credit for it when they’ve had no involvement and in a lot of cases the figures are completely distorted from reality.

Fair enough. Don’t have much personal dealing with IDA to base my comments on

KIB_man · February 22, 2012, 8:35pm

As long as Ireland is a more attractive place to do business than Guatemala or Ethiopia then the good times can’t be too far away

Julio_Geordio · February 23, 2012, 6:13pm

Lad on the last word now, discussing the governments job program etc, etc how hard it is to find work bla bla,just out of college, then turns out he is a qualified Librarian FFS.

Courses like that shite should be scraped

Sidney · February 23, 2012, 9:25pm

The oppposite has always been the case - Irish people generally swallow every piece of bullshit they’re told.

anon95599269 · February 23, 2012, 9:31pm

why?

Sidney · February 23, 2012, 9:35pm

Oil prices today reached an all-time record price in Euro of €93.60 - that’s higher than the peak of July 2008 - the era of cheap energy is over and without cheap energy economies have very little chance of coming out of a slump.

anon95599269 · February 23, 2012, 9:38pm

not true-economies rich in oil do well-they spend that money importing goods from other countries-everyone wins-simples

Sidney · February 23, 2012, 9:54pm

Don’t think there are many people on here living in the Middle East mate. One bright spot however is that if oil prices keep going up then more and more money from Qatar gets pumped into FCB - in a decade’s time we’ll have racked up 10 Champions Leagues in a row and Royal Madrid will be in the position the huns are now. :barcasmile:

Sidney · February 23, 2012, 10:05pm

Irish crisps should be dominating the world - look at the shit that’s sold abroad - tasteless junk. Pringles can’t have been on sale for any more than 20 years or so yet they’re ubiquitous worldwide. Calling them putrid rank rotten rubbish would be an understatement.

Fitzy · February 24, 2012, 2:18am

So in other words, China wins. Again.

Some of the recent commentary I’ve seen around the European crisis has been very positive about Ireland and holding it up as a (simplistic) example to other debt ridden economies.

The_Runt · May 1, 2012, 11:54am

China Town Athlone :strokechin:

http://alanshaw.ie/wp-content/uploads/2011/05/China-Trading-Hub-Athlone.jpg

Julio_Geordio · May 1, 2012, 12:16pm

When I first read this I took no notice of it, sounds like an utterly mental plan. I see its been given the go ahead today.

Its just crazy enough that it might work.

Wing Wong Wards will be popping up all over Westmeath

TwoRunnyEggs · May 1, 2012, 12:25pm

Athlone?!! Miles away from airports. The only thing going for it is the M6. It would look well in Shannon or the likes.