| M&A: the kind of market it is going to be in 2009 |
Issue: 12 / 2008 |
| Deal valuations in the M&A market have continued to drop, valuations in the third quarter of 2008 were down 77 per cent on the same period last year. However, activity levels, as measured by the volume of deals, have remained resilient throughout 2008. This supports the view that those businesses that can adapt to a different market and approach the financing of transactions with flexibility should be able to capitalise on acquisition opportunities offering real value.
David Baxter looks at the shape of the coming market in mergers and acquisitions in 2009, and examines the areas of opportunity for both buyers and vendors. |
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| Make or break year |
Issue: 12 / 2008 |
| The economic and financial crisis is so deep that the possibility of an early bounce back should still not be relied on. However, the opportunities are becoming apparent, even as short term difficulties persist, such as the failures of leadership at Irish Governmental level, in respect, for example, of errors regarding the banking system recapitalisation, and, the Finance Bill which has compounded the macro-economic errors of the Budget (See page 24). Nevertheless, the process of rebuilding should begin without delay. |
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| Putting sales first |
Issue: 12 / 2008 |
| Eunan O’Carroll, sales director at Friends First, details the different regional and in-house meetings that fill his day. He also describes the level of client interaction and travel involved in working as a sales director. |
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| The Finance Bill |
Issue: 12 / 2008 |
| We broadly welcome the tax changes included in the Budget, provided they are followed with the necessary cutbacks on the spending side. Unfortunately, all that has happened since the Budget is that the Finance Bill has increased personal taxes further and little progress other than promises has, to date, been made on cutbacks on the spending side. This is most disappointing. |
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| The view beyond year end and into 2010 |
Issue: 12 / 2008 |
| Financial markets will remain volatile through the year end, and conditions will remain challenging next year, and even into 2010. The Head of Treasury-Ireland at Barclays Capital, Ciaran Kane outlines the approaches and products available to manage markets-related risk across currency, interest rate and commodity markets, the latter being just another area that bears continued attention, as the risk of a resurgence of oil prices indicates. |
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| Two more triggers towards a turning point |
Issue: 12 / 2008 |
| By Tony Keogh |
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| A direct line to corporate strategy |
Issue: 11 / 2008 |
| Graham Sutherland CFO of British Telecom on the island of Ireland is responsible for all investment decisions made by BT in both Northern Ireland and the Republic of Ireland. Sutherland plays an active role in meetings on a range of topics from financial performance evaluation to strategic decisions of senior management and is of the opinion that flexibility is key to surviving the difficult current economic conditions. |
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| A positive outlook remains possible |
Issue: 11 / 2008 |
| There is widespread dismay and disapproval about the stance and detail of the October 14th Budget from economists, and in Page 4 we summarise the views of three of the most eminent Colm McCarthy, Dan O’Brien of the EIU, and Jim Power of Friends First. |
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| Act: ‘too aggressive & disproportionate’ |
Issue: 11 / 2008 |
| High taxes encourage avoidance and evasion and in turn avoidance and evasion result in lower tax revenues. PJ Henehan writes that tax in some respects is a zero sum game. |
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| Book Reviews: Being tax effective |
Issue: 11 / 2008 |
| Tax Function Effectiveness - Tony Elgood, Tony Fulton and Mark Schutzman |
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| Budget 2009 - a missed opportunity
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Issue: 11 / 2008 |
| By Jim Power |
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| Causes and effects of worldwide financial turmoil |
Issue: 11 / 2008 |
| Ray Kinsella highlights possible reasons for the current turbulence in financial markets - and lessons that can be learned from the situation. |
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| Developments |
Issue: 11 / 2008 |
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| Directors’ liabilities in a stormy climate |
Issue: 11 / 2008 |
| Directors should be all the more aware of both the responsibilities and risks they face in the present climate. Paula Kelleher & Paul Kennedy review the issues in the light of the most recent legal developments. |
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| Economic apocalypse or investment cycle? |
Issue: 11 / 2008 |
| The market must return to fundamentals and reassess its approach to investing in the current climate, says Mark Daly. |
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