Why Single-Source Vendors Could be the Future

first_img The Best Markets For Residential Property Investors 2 days ago Related Articles Data Provider Black Knight to Acquire Top of Mind 2 days ago in Daily Dose, Featured, Foreclosure, News December 20, 2018 2,284 Views Share Save Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago Altisource FHA Foreclosure Hubzu mortgage Patrick McClain Servicing Travis Britsch Vendors 2018-12-20 Scott Morgan Tagged with: Altisource FHA Foreclosure Hubzu mortgage Patrick McClain Servicing Travis Britsch Vendors Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Previous: Why Prepayment Activities Have Declined Next: Fannie and Freddie’s 2019 Goals Subscribecenter_img Servicers Navigate the Post-Pandemic World 2 days ago Home / Daily Dose / Why Single-Source Vendors Could be the Future  Print This Post Why Single-Source Vendors Could be the Future Scott Morgan is a multi-award-winning journalist and editor based out of Texas. During his 11 years as a newspaper journalist, he wrote more than 4,000 published pieces. He’s been recognized for his work since 2001, and his creative writing continues to win acclaim from readers and fellow writers alike. He is also a creative writing teacher and the author of several books, from short fiction to written works about writing. Delinquencies and foreclosures are about to make a comeback and single-source vendors are poised to the future for servicers, according to Altisource.In “The State of the Servicer Industry in 2018,” the firm sees the combination of high home prices and oft-risen interest rates as a sign that servicers will soon see an increase in delinquency and foreclosure rates in their FHA portfolios.And servicers seem to be aware of this “inflection point.” Nearly three-quarters of servicers Altisource surveyed said they expect their FHA portfolios to increase within the next two years.FHA loans already have increased, after a wave of interest early this year from buyers with lower credit who capitalized on the FHA’s Claims Without Conveyance of Title, or CWCOT, program’s more lenient downpayment requirements.With the upswing in FHA loans, though, comes the increased risk of defaults in FHA portfolios, especially as rates continue to climb. And while price escalation has been slowing down in the latter half of 2018, values remain out of reach for average and below-average earners in many markets, where wage growth has not necessarily caught up.With the possibility of more defaults looming, servicers say they are overwhelmingly likely to take a single-vendor approach to managing multiple services. Nine in 10 servicers, in fact, told Altisource that they are strongly leaning towards a single-source vendor, with two-thirds citing efficiency and compliance management as the main reasons.Single-source vendors are also an increasingly appealing option simply because of their prevalence. The sector grew as the housing market recovered from the crash and the glut of properties once maintained by small networks of vendors gave way to consolidated resources.If there’s a hangup for servicers, it’s that they’re having a lot of trouble finding single-source vendors they feel comfortable working with. Altisource says more than half of the servicers surveyed said they had trouble finding good vendors for trustee and auction services.That said, 73 percent of servicers said they are using third-party as part of their CWCOT program, mostly because those vendors provide end-to-end services. But 57 percent say they wish the data analytics these vendors used were not as efficient or effective as they could be. Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Sign up for DS News Daily About Author: Scott Morganlast_img read more

Developments in Bankruptcy and Title Practices

first_img Donna Joseph is a Dallas-based writer who covers technology, HR best practices, and a mix of lifestyle topics. She is a seasoned PR professional with an extensive background in content creation and corporate communications. Joseph holds a B.A. in Sociology and M.A. in Mass Communication, both from the University of Bangalore, India. She is currently working on two books, both dealing with women-centric issues prevalent in oppressive as well as progressive societies. She can be reached at [email protected] Previous: Spotlight on Single-Family Rentals Next: Fiserv First Data Could Generate $4B in Cash Flow The Best Markets For Residential Property Investors 2 days ago Demand Propels Home Prices Upward 2 days ago Share Save On Wednesday, the Legal League 100 held a webinar titled “Bankruptcy and GSE Updates: 2018 Wrap Up and 2019 Outlooks,” focusing on the developments in bankruptcy and title practices. Presented by Keena Newmark, Managing Attorney of Bankruptcy Operations, Padgett Law Group and Steven Kelly, Managing Attorney of Bankruptcy, Stern & Eisenberg, the webinar covered critical updates on GSE regulations and the latest shifts in foreclosure and bankruptcy practices. Addressing the trends in 2018, Newmark spoke of developments within the F.R.B.P (Federal Rules of Bankruptcy Procedure) 3002.1 space.  The webinar also discussed important aspects some of the most notable bankruptcy cases such as In re Dukes, Ritzen Group v. Jackson Masonry, In re Tribune Media Company and In re Vietre. Touching upon GSE updates, Newmark spoke about FHFA prohibition of Fannie Mae and Freddie Mac from using VantageScore because of conflict of interest with the company’s backers. “The proposed rule would prohibit an Enterprise from approving any credit score model developed by a company that is related to a consumer data provider through any common ownership or control,” she said. Kelly addressed the changes over the recent past in the leadership of the CFPB, FHFA, and Ginnie Mae. The webinar also discussed FHFA’s announcement to increase the 2019 maximum conforming loan limits. It also shed light on single security and common securitization platform—a joint initiative by Fannie Mae and Freddie Mac—under the direction of FHFA, to develop a single mortgage-backed security, that will be issued by the Enterprises to finance fixed-rate mortgage loans backed by one-to-four unit-single-family properties. The single security initiative will go live on June 3, 2019.  The Legal League 100 is a premier professional association of financial services law firms in the United States. With more than 100 member law firms spanning nearly 50 states and an organic, firm-driven leadership structure, the Legal League 100 is dedicated to driving progress in the mortgage servicing industry. The webinar served as a platform to explore the developments that financial services attorneys need to know right now and how they should be preparing for impending changes. Click here for the webinar recording. Demand Propels Home Prices Upward 2 days ago January 16, 2019 1,132 Views Tagged with: Keena Newmark Legal League 100 Padgett Law Group stern & Eisenberg Steven Kelly The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Sign up for DS News Daily The Week Ahead: Nearing the Forbearance Exit 2 days agocenter_img  Print This Post Data Provider Black Knight to Acquire Top of Mind 2 days ago Home / Daily Dose / Developments in Bankruptcy and Title Practices About Author: Donna Joseph Data Provider Black Knight to Acquire Top of Mind 2 days ago Developments in Bankruptcy and Title Practices in Daily Dose, Featured, News, Servicing Subscribe Servicers Navigate the Post-Pandemic World 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Keena Newmark Legal League 100 Padgett Law Group stern & Eisenberg Steven Kelly 2019-01-16 Donna Josephlast_img read more

Key Factors Impacting Inventory and Home Flipping

first_img Previous: The Industry Pulse: Updates on Quicken Loans, Cenlar, and More Next: Elizabeth Green Joins LoanLogics as Chief Collateral Officer  Print This Post Seth Welborn is a Reporter for DS News and MReport. A graduate of Harding University, he has covered numerous topics across the real estate and default servicing industries. Additionally, he has written B2B marketing copy for Dallas-based companies such as AT&T. An East Texas Native, he also works part-time as a photographer. Servicers Navigate the Post-Pandemic World 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago When he’s not analyzing macro- and microeconomic data trends within the housing market and the economy at large, Daren Blomquist, VP of Market Economics at Auction.com, is working to tell the story of these data sets in a way that all audiences can understand. Blomquist’s reports and analysis have been cited by thousands of media outlets nationwide—including all the major news networks and leading publications such as The Wall Street Journal, The New York Times, and USA TODAY. Before joining Auction.com, Blomquist directed ATTOM Media, a division of ATTOM Data Solutions that publishes real estate reports and analysis sourced from national public record property data. He sat down with DS News to provide perspectives on the current housing market and the trends that will define the near term.You have spoken of how home flippers are a good barometer of where the market is heading. What are some of the noteworthy trends occurring in that sector? Home-flipping volume as a rate of overall home sales took a dive in the second half of 2018, paralleling the decline we saw in home sales volume and the rate of home price appreciation in the retail market. Home flippers are having trouble selling in a market with weakening retail buyer demand, and that is forcing them to hold onto properties longer than they would like. This trend, in turn, is causing the flippers to exercise caution in the acquisition of new flips.The good news is that downward trend in home flipping reversed itself in early 2019, with the home-flipping rate jumping to a seven-year high in February. That’s a strong positive sign for the health of the overall housing market going forward for the remainder of the year.What does your typical day look like as VP of Market Economics? I analyze data—both internal Auction.com data and external market data—and figure out what the data is telling us about the marketplace. Then, I get to take that data-driven message and tell it in innovative ways. That storytelling takes several forms, but primarily through written content, interactive visuals, and in speaking to various audiences. One of the most important audiences is the internal business owners and decision-makers at Auction.com, to help them make the most informed, data-driven business decisions. Sellers and buyers utilizing the Auction.com platform comprise another important audience for my data-driven content about the market. It’s important for both sides of the transaction to be armed with solid information that will promote transparency and reduce friction in our marketplace. My job consists of communicating data-based anaysis to the larger mortgage and real estate industries, helping them gain insight particularly into the distressed disposition niche of the housing market.What are the key factors impacting inventory and millennial homebuying in the current market? The interplay between inventory and demand from millennials represents one of the most fascinating chickenand-egg scenarios of the real estate recovery. Millennials represent a critical group of imminent homebuyers, and yet their potential has remained latent for a variety of reasons, ranging from high levels of student debt to later-in-life homebuying triggers such as getting married and having children.The most significant contributors to the large homeownership deficit for the under-35 generation are concrete and psychological ripple effects from the Great Recession. The psychological effects have caused homeownership to lose its luster for many millennials, and the concrete effects havemade it much more difficult for millennials to get their foot in the door even if they want to become homeowners.On the inventory side, homebuilders are also impacted by these effects, causing a deficit in inventory built over the last seven years of the recovery. Builders got burned with an overhang of too much inventory in the previous up-cycle and have therefore been cautious in ramping up their production in this time, especially in light of the muted demand for homeownership from millennials and other generations.Additionally, the housing crash decimated the ranks of construction workers, and many in that field have since found other jobs. That has pushed up construction costs and limited thetype of inventory that is profitable for builders.With the housing market witnessing low mortgage rates and better inventory this spring, how do you see the market continuing to evolve this year?The buyerseller pendulum swung back toward buyers in the second half of 2018, but it’s hard to tell if that swing is continuing or if the recent drop in mortgage rates will halt it. We saw a similar swing toward a buyer’s market play out in 2014 when mortgage rates also rose above 4% for an extended stretch. When mortgage rates then dropped, the market quickly flipped right back in favor of sellers in 2015. However, I don’t think we’ll see such a knee-jerk response toward a seller’s market this time around. The market will still be more favorable for buyers in 2019 than it was in 2017, but I also don’t think we’ll see a full-fledged buyer’s market where homes are sitting on the market for six months or more in most areas of the country.Do you see a recession on the horizon in the near-term? There is a good chance of at least a mild to medium-sized recession in the next couple years. Housing certainly will be impacted to some degree, but it will not likely be the catalyst for the recession nor bear the brunt of the pain from it. Looking back at previous recessions, the typical impact on housing is a modest drop in home prices—somewhere in the range of a 1% to 5% drop depending on the local market, not the 30% to 50% drop we saw triggered by the Great Recession. Sign up for DS News Daily Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Key Factors Impacting Inventory and Home Flipping Subscribe in Daily Dose, Featured, Market Studies, News, Print Features Servicers Navigate the Post-Pandemic World 2 days ago Economy Housing Market 2019-06-27 Seth Welborncenter_img Related Articles Home / Daily Dose / Key Factors Impacting Inventory and Home Flipping The Best Markets For Residential Property Investors 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Seth Welborn The Best Markets For Residential Property Investors 2 days ago Tagged with: Economy Housing Market June 27, 2019 1,747 Views Data Provider Black Knight to Acquire Top of Mind 2 days ago Share Savelast_img read more

Dana Wade Expected to ‘Hit the Ground Running’

first_img Data Provider Black Knight to Acquire Top of Mind 2 days ago Sign up for DS News Daily  Print This Post Previous: Mortgage Service Company Partners to Debuts Coating System Next: Servicing Experts Talk Forbearance Practices in Daily Dose, Featured, Government, News federal housing commissioner HUD 2020-05-15 Mike Albanese The Best Markets For Residential Property Investors 2 days ago The Best Markets For Residential Property Investors 2 days ago Share Save Tagged with: federal housing commissioner HUD Home / Daily Dose / Dana Wade Expected to ‘Hit the Ground Running’ Mike Albanese is a reporter for DS News and MReport. He is a University of Alabama graduate with a degree in journalism and a minor in communications. He has worked for publications—both print and online—covering numerous beats. A Connecticut native, Albanese currently resides in Lewisville. Data Provider Black Knight to Acquire Top of Mind 2 days ago Demand Propels Home Prices Upward 2 days agocenter_img May 15, 2020 1,355 Views Servicers Navigate the Post-Pandemic World 2 days ago Subscribe Dana Wade Expected to ‘Hit the Ground Running’ Servicers Navigate the Post-Pandemic World 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Demand Propels Home Prices Upward 2 days ago About Author: Mike Albanese Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Related Articles Leaders within the housing are applauding the advancement of Dana T. Wade’s nomination as the next Assistant Secretary of the Department of Housing and Urban Development. “Her past experience and tenure as Acting Federal Housing Commissioner and General Deputy Assistant Secretary for the Office of Housing will allow her to hit the ground running,” said Ed Demarco, President, Housing Policy Council. He added that upon full Senate confirmation, Wade is expected to continue the “important enhancements” enabling FHA and mortgage servicers to continue servicing borrowers through COVID-19. The Manufactured Housing Association for Regulatory Reform (MHARR) sent a letter to the Senate Banking Committee pledging its support of Wade.”Ms. Wade—who has a wealth of experience regarding housing and housing finance—showed herself to be a strong advocate for affordable housing, including affordable manufactured housing, during her prior tenure at HUD,” the letter stated. “Commendably, Ms. Wade was always available to hear the concerns of both the industry and consumers of affordable housing and took key actions to modernize the federal manufactured housing program at HUD and bring it more closely into compliance with the Manufactured Housing Improvement Act of 2000, after nearly two decades of needless delay.”The letter continued by saying Wade is a “tireless advocate for safe, decent, quality, and affordable housing.””Particularly given the urgent national need for affordable housing and homeownership that exists today, she would be an important and worthy addition to the management team at HUD.  Consequently, MHARR strongly supports her nomination and urges the Committee to recommend her for confirmation by the full Senate,” the letter said.The U.S. Senate Banking Committee advanced Wade’s during a hearing on Tuesday. Wade was advanced by a 15-10 vote by the committee. “Mrs. Wade is well-positioned to take on the task of Assistant Secretary for Housing and Federal Housing Commissioner at the U.S. Department of Housing and Urban Development,” said  U.S. Senator Mike Crapo (R-Idaho), Chairman of the U.S. Senate Committee. “Mrs. Wade served as Acting Federal Housing Commissioner and General Deputy Assistant Secretary for the Office of Housing, where she directly managed FHA’s portfolio of single-family, multifamily and healthcare insurance; Section 8 project-based rental assistance; the Office of Manufactured Housing; and over 2,400 personnel agency-wide.”Wade was nominated for the position of Federal Housing Commissioner by President Donald Trump in February. “As I look around this hearing room, I see the Senate continuing the people’s work but under very different circumstances,” Wade said during her opening statement at her confirmation hearing earlier this month. “If confirmed, I will commit to do everything I can as FHA Commissioner to help the country emerge from the COVID-19 pandemic healthier, stronger, and with a more prosperous economy.”Wade was previously the acting Federal Housing Commissioner and Assistant Secretary for Housing from July 2017 to June 2018. She supervised more than 2,400 employees and implemented risk management and monitoring of the Federal Housing Agency’s $1.3 trillion portfolios.She also served as a Program Associate Director for General Government at the Office of Management and Budget from December 2018 to December 2019, where she led budget oversight for six Executive Branch agencies with a focus on financial services, including HUD.last_img read more

Calabria Discusses FHFA’s Living Will Rule

first_img Previous: House Committee Addresses Lending Equality Next: The Week Ahead: Servicers Brace for the Future The way the Federal Housing Finance Agency (FHFA) Director Mark Calabria sees it, after the capital rule, the finalization of the living will rule is one of the last major regulatory pieces needed to put the Housing and Economic Recovery Act of 2008 (HERA) into effect. He spoke about the implementation and impact of living wills last Tuesday at the Brookings Institution’s Center on Regulations and Markets.When FHFA earlier this month published a final rule requiring Fannie Mae and Freddie Mac (the government-sponsored enterprises which FHFA regulates) to develop credible resolution plans, also known as “living wills,” Calabria explained that the rule will provide the GSEs with a “roadmap for preserving business continuity should they fail again,” and could “help create a stronger, more resilient housing finance system by protecting taxpayers and the mortgage market from harm” if either Fannie or Freddie fails.He expounded on those ideas during his Brookings address, whose transcript can be read in full here on FHFA’s website.The living will rule is built on the foundation of resolution planning established by the 2010 Dodd-Frank Act, which requires big banks to create resolution plans, or living wills, in the event a bank experiences severe financial stress. Each bank’s plan clarifies how it could be placed into a receivership overseen by the FDIC or into bankruptcy and resolved without disrupting markets or relying on extraordinary government support, Calabria explained.”We recognize the GSEs are not banks,” he said. “But an orderly system for settling claims is just as critical to any financial institution as appropriate capital standards. And as we learned in 2008, inconsistencies in financial regulation across institutions can mask risk and fuel financial instability.”He points out that Fannie Mae and Freddie Mac own or guarantee more than $6 trillion in single-family and multifamily mortgages, which is about half the market. Together the GSEs are about equivalent in size to the top three largest banks in America combined, he said.Ensuring the GSEs have credible living wills comparable to the other largest financial institutions also brings “important clarity to housing finance about how FHFA’s receivership powers would work in a time of significant financial stress, as remote as such times can seem when home prices are rising.”He pointed out Fannie and Freddie’s strong support of the market in 2020, acquiring more than 60% of the single-family mortgages originated throughout the year of the pandemic and supporting families in need.”When COVID hit, the enterprises used their recently authorized retained earnings to help millions stay safe in their homes. And most recently, FHFA announced a new refinancing option that will help low-income families save thousands of dollars on their mortgage,” Calabria said. “In a crisis, capital at the enterprises offers borrowers protection from foreclosure, destroyed credit, and displacement. This is especially important for lower-income and minority families who are often first to lose their jobs and savings. That is why FHFA is making sure that enterprise risk is matched to their capital. And it is why I have spent the last two years making every effort to build capital at Fannie Mae and Freddie Mac.”Credible living wills at Fannie and Freddie, Calabria said, will ensure that, “in a great public dilemma involving housing finance, FHFA will be able to act quickly without exposing the financial system or taxpayers to additional risk.” Calabria Discusses FHFA’s Living Will Rule in Daily Dose, Featured, Government, News Christina Hughes Babb is a reporter for DS News and MReport. A graduate of Southern Methodist University, she has been a reporter, editor, and publisher in the Dallas area for more than 15 years. During her 10 years at Advocate Media and Dallas Magazine, she published thousands of articles covering local politics, real estate, development, crime, the arts, entertainment, and human interest, among other topics. She has won two national Mayborn School of Journalism Ten Spurs awards for nonfiction, and has penned pieces for Texas Monthly, Salon.com, Dallas Observer, Edible, and the Dallas Morning News, among others. Home / Daily Dose / Calabria Discusses FHFA’s Living Will Rule Subscribe Share Save 2021-05-14 Christina Hughes Babb Servicers Navigate the Post-Pandemic World 2 days ago Servicers Navigate the Post-Pandemic World 2 days ago Related Articles Demand Propels Home Prices Upward 2 days ago Demand Propels Home Prices Upward 2 days ago The Week Ahead: Nearing the Forbearance Exit 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago The Best Markets For Residential Property Investors 2 days ago Data Provider Black Knight to Acquire Top of Mind 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago Governmental Measures Target Expanded Access to Affordable Housing 2 days ago About Author: Christina Hughes Babb The Best Markets For Residential Property Investors 2 days ago  Print This Post Sign up for DS News Daily 16 days ago 519 Views last_img read more

Donegal Creameries report half yearly profits of 3.6 million euro

first_imgNewsx Adverts Donegal Creameries report half yearly profits of 3.6 million euro LUH system challenged by however, work to reduce risk to patients ongoing – Dr Hamilton Facebook Pinterest Google+ By News Highland – September 10, 2010 Pinterest Calls for maternity restrictions to be lifted at LUH Twitter Twitter WhatsAppcenter_img Donegal Creameries plc  Interim results for the six months of this year show the company show it made an after tax profit of 3.6 million euro.The company welcomed the results saying its diversified business portfolio has again demonstrated its effectiveness in delivering solid results.Total revenue for the company in the first half of the year was 60.5 million euro up almost 5% on the first half of last year.Total profit, after tax for that period was 3.6 million euro while the company reduced its net debt by just over 2 million euro.Turnover in the company’s dairy sector was up almost 23 %, despite difficult conditions in the Agri-inputs sector figures were up 4.7%.Produce was down on last year but the company expects a strong full year performance with its Organic sales and Irish Potato Marketing.The company says it is pleased with how its property portfolio is performing and overall the board says it remains confident of delivering a solid full year performance. Facebook Almost 10,000 appointments cancelled in Saolta Hospital Group this week Need for issues with Mica redress scheme to be addressed raised in Seanad also Previous articleWorld Suicide Prevention Day: Suicides double in DonegalNext articleFuture of Town Councils up for debate at AMAI conference News Highland Google+ RELATED ARTICLESMORE FROM AUTHOR Guidelines for reopening of hospitality sector published Business Matters Ep 45 – Boyd Robinson, Annette Houston & Michael Margey WhatsApplast_img read more

Media,politicians & persuasive groups blamed for distracting Donegal team

first_img PSNI and Gardai urged to investigate Adams’ claims he sheltered on-the-run suspect in Donegal WhatsApp By News Highland – September 4, 2012 Twitter The Donegal County Board says it has yet to decide on where any homecoming after the All-Ireland Final would take place.It follows reports that the Letterkenny Chamber had expressed its desire for the homecoming to be held in Letterkenny.In a statement the Donegal County Board said the County Executive in conjunction with senior team management and players, will decide on the issue of a homecoming.Adding: Talks of a homecoming at this point are entirely premature and the focus should be on match preparation rather than events after the final.The County Board says that media reports today claiming that a huge row has broken out among Donegal GAA fans are false.They say the story has been generated by certain media outlets in conjunction with persuasive groups and some elected representatives.The statement concludes that this is most unhelpful as the team prepares for its second ever All Ireland final. Dail hears questions over design, funding and operation of Mica redress scheme Dail to vote later on extending emergency Covid powers Pinterest WhatsApp Man arrested in Derry on suspicion of drugs and criminal property offences released Media,politicians & persuasive groups blamed for distracting Donegal team Facebookcenter_img Pinterest Man arrested on suspicion of drugs and criminal property offences in Derry Twitter RELATED ARTICLESMORE FROM AUTHOR Google+ Google+ News HSE warns of ‘widespread cancellations’ of appointments next week Facebook Previous articleDublin to Donegal bus service for outpatients is to end for goodNext articleMartin McHugh: home coming debate playing into Mayo’s hands and must stop News Highland last_img read more

Michael O’Leary’s Aer Lingus bid was never taking off

first_img Previous articleHealth Minister meets with Praveen HalappanavarNext articleTaoiseach to address British Irish Parliamentary Assembly in Letterkenny admin Michael O’Leary’s Aer Lingus bid was never taking off Pinterest Further drop in people receiving PUP in Donegal Twitter 75 positive cases of Covid confirmed in North Gardai continue to investigate Kilmacrennan fire Twitter The third offer by Ryanair to buy its much smaller rival Aer Lingus has again come to nothing. Another costly affair for Aer Lingus and a distraction for Ryanair, stymied once again by competition concerns expressed by the European Union.Officially this bid is alive until the EU’s competition commission makes its final decision in a few weeks but realistically the near €700 million takeover was never getting out of the departures lounge. That’s despite the flurry or activity by Ryanair in recent weeks to get two airlines – British Airways and Flybe – to take on overlapping routes flown by Aer Lingus.I’ve argued many times the business merits of Ryanair acquiring Aer Lingus makes some sense as could become the first true budget long-haul carrier and also give it access to key European airport hubs where it hasn’t been strong.But as always with events in Irish aviation this was a political non-flyer. Transport minister Leo Varadkar signalled in December that it wouldn’t sell its 25% stake in the company to Ryanair’s chief executive Michael O’Leary and that was it. The unions at Aer Lingus, its management team and the Irish tourism industry has always been against it. Against that quartet of opponents there was little likelihood of it going through.Past chief executives likes Willie Walsh have tried and failed to make Aer Lingus into a true European carrier with a nimbler cost base (and yes that means fewer workers) and a flexibility to adapt to the cyclical nature of the aviation business.Christoph Mueller, the current Aer Lingus boss, has made huge inroads in cost-cutting to make the company profitable. Its balance sheet is healthy enough, though a huge deficit in its employee pension fund could ruin that. But where does it go from here? European aviation is evolving. Bigger carriers are emerging. These global groups like British Airways/Iberia, Air France-KLM are the future, capable of competing with the growing airline powerhouses like Emirates and the giant American carriers. How long can Aer Lingus remain independent with these structural changes happening in the industry?This has been a costly business for Aer Lingus, more than €10 million on an army of financial, legal and media advisers. It has been time sapping for both airlines because of the engagement with Brussels’ competition officials.Michael O’Leary will not go away for long. There is a threat of an appeal by Ryanair to the European Court when the bid is formally blocked. But as long as the government objects to his takeover it will remain grounded. 365 additional cases of Covid-19 in Republic WhatsApp Main Evening News, Sport and Obituaries Tuesday May 25th center_img Google+ WhatsApp Facebook RELATED ARTICLESMORE FROM AUTHOR By admin – February 14, 2013 Pinterest Man arrested on suspicion of drugs and criminal property offences in Derry Google+ News Facebooklast_img read more

Legislation on how business premises are valued must change – Cllr Gallagher

first_imgNews By News Highland – March 2, 2011 365 additional cases of Covid-19 in Republic Pinterest Twitter Google+ Man arrested on suspicion of drugs and criminal property offences in Derry 75 positive cases of Covid confirmed in North Further drop in people receiving PUP in Donegal Legislation on how business premises are valued must change – Cllr Gallagher Donegal County Council is being asked to lobby government for a change in legislation on how business premises are valued and the subsequent business rate the owners must pay.The Valuation office in Dublin determines a rate for each premises in Donegal based on its size – the figure is then multiplied by the local authority’s rate to determine what each business must pay.Councillor Marie Terese Gallagher argues this is unfair as a large premises may have a low turnover while a smallpremises may house a very profitable business.She says a more fair way of determining rates must be introduced as the current system is putting many companies out of business:[podcast]http://www.highlandradio.com/wp-content/uploads/2011/03/mari830.mp3[/podcast] Main Evening News, Sport and Obituaries Tuesday May 25th center_img Facebook WhatsApp Previous articleCampaign group says promises must be delivered to Sligo General HospitalNext articleFunding for work on Derry/Coleraine railway postponed News Highland Twitter Google+ Facebook RELATED ARTICLESMORE FROM AUTHOR WhatsApp Pinterest Gardai continue to investigate Kilmacrennan firelast_img read more

Superintendent appeals for information on speed van arson as incident room opens

first_img Twitter Further drop in people receiving PUP in Donegal By News Highland – April 9, 2011 Facebook 75 positive cases of Covid confirmed in North Previous articleThird suspect arrested as PSNI murder investigation continues in OmaghNext articleCiaran Mc Laughlin to take vacant SF seat on Buncrana Town Council News Highland Pinterest WhatsApp Google+ Facebook Pinterest Gardai are continuing their investigations into this morning’s attack on a GoSafe speed detection van at Cashel, on the road between Carndonagh and Quigley’s Point.The van was facing the Quigley’s Point direction, and had been in the area since 1 o’clock.A short time ago, Superintendent Eugene Mc Govern made this appeal for information…..[podcast]http://www.highlandradio.com/wp-content/uploads/2011/04/mcgovsat.mp3[/podcast]center_img Main Evening News, Sport and Obituaries Tuesday May 25th News RELATED ARTICLESMORE FROM AUTHOR Google+ Man arrested on suspicion of drugs and criminal property offences in Derry 365 additional cases of Covid-19 in Republic WhatsApp Twitter Superintendent appeals for information on speed van arson as incident room opens Gardai continue to investigate Kilmacrennan firelast_img read more