Irelands Private Equity Hypocricy!

When it was thought that our venerable banks were going to “fall prey” to private equity firms last December, there was uproar – I wrote about it here.

Yet, now that Waterford Wedgewood looks like its going to be “rescued” by those self same nasty private equity vultures, it suddenly becomes “an important step towards our key objective of maximising value for stakeholders”.

Unless of course, maximising the value for stakeholders (or shareholders) in the case of the Irish banks wasn’t the number one priority.

Anyway, I don’t know why we’re bothered. According to the AP, Waterford is a British “icon” – think Gazza and Jade Goody, rather than an Irish one.

Waterford Wedgwood, which employs around 7,700 worldwide, is the latest on a growing list of iconic British companies to succumb to the global economic slowdown and credit squeeze.

, ,

5 Responses to Irelands Private Equity Hypocricy!

  1. KevanB January 9, 2009 at 11:00 #

    Waterford is the company that makes Wedgwood which is the iconic English pottery and as every small boy and girl who learns history knows Josiah Wedgwood was one of the great social reformers of the 18th century.

    Most of the English have never heard of Waterford glass. Wedgwood they definitely have.

  2. blahman January 9, 2009 at 15:06 #

    ww is an irish registered company so it can’t be considered an iconic british one.

    would you consider dell or intel to be irish company just because the manufacture products in ireland?

  3. KevanB January 9, 2009 at 18:03 #

    Wedgwood is made in Staffordshire where it was founded, who owns it is irrelevant if you are an English journalist working in London where you know who start north of Watford and south of Calais. Which was the point I was trying to make.

    Dell and Intel are Irish companies as they are for sure registered here to take advantage of the corporation tax rate.

    Anyway, blahman, I feel that the nationality of big companies has become almost an irrelevance these days. It is where the jobs are lost.

  4. Serial Complainer January 12, 2009 at 22:04 #

    WHat’s the chances that the Private Equity boys will cover the unfunded gap in the pension fund? Slim to none…

  5. valueireland January 12, 2009 at 23:14 #

    @KevanB & blahman – thanks for your comments. Obviously, given my original comment, I’m with blahman on this one.

    @Serial – You’re right. As far as I’ve heard anywhere, they’re looking at the brands to be bought, and having nothing to do with any premises or employees.

Leave a Reply

Powered by WordPress. Designed by WooThemes

hit counter