Results 3,001-3,020 of 7,082 for speaker:John Paul Phelan

Committee of Inquiry into the Banking Crisis: Context Phase (26 Mar 2015)

John Paul Phelan: The remainder of my questions are mostly for Mr. Mulligan. I refer Mr. Mulligan to his opening statement in which he stated that property-related advertising accounted for less than 1% of total commercial revenue at its highest point in 2007. He said the total for the financial institution category was less than 5%. I ask the witness to outline briefly those two...

Committee of Inquiry into the Banking Crisis: Context Phase (26 Mar 2015)

John Paul Phelan: Knock-on industries.

Committee of Inquiry into the Banking Crisis: Context Phase (26 Mar 2015)

John Paul Phelan: I refer to the book by Donal O'Donovan and the Trinity professor Antoin Murphy, The Fall of the Celtic Tiger: Ireland and the Euro Debt Crisis.They write that the media experienced a boom in profitability associated with rapidly rising property-related advertising revenues. In light of what Mr. Mulligan has just stated, does he think that statement applies to RTE in the period in question?

Committee of Inquiry into the Banking Crisis: Context Phase (26 Mar 2015)

John Paul Phelan: I have a final question. I refer to the remuneration structure within the marketing department in RTE at the time and salaries versus bonuses. What was that structure? Was it an incentive-based system for employees to get more advertising from property or other sectors?

Committee of Inquiry into the Banking Crisis: Context Phase (26 Mar 2015)

John Paul Phelan: Yesterday we heard evidence from Harry Browne, who listed five or six programmes that RTE had on the air in the period we are talking about. Some were about overseas properties and some were about domestic properties. Advertising was sold during those programmes - often not directly related to property itself - but property and construction was a part of the programming make-up in RTE at...

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

John Paul Phelan: I welcome Mr. Moran. At the start, I have a couple of questions about loan-to-value ratios in the commercial property sector. First, for the committee and for those from outside watching, what is the purpose of loan-to-value ratios in the commercial property sector?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

John Paul Phelan: I refer to page 5, paragraph 6 of Mr. Moran's opening statement, which states:At the time, there was a lot of funding available in the market place. Whilst we were not involved in final loan-to-value calculations between our clients and the banks, were are aware that loans were available at high value ratios. Is there any particular emphasis on the word "final"? Was Jones Lang LaSalle...

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

John Paul Phelan: Referring to Mr. Moran's last answer, was Jones Lang LaSalle involved at the time with financial institutions in their calculation of those loan-to-value ratios?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

John Paul Phelan: I refer to page 6 of Mr. Moran's opening statement where he stated that Irish real estate had become too expensive for international investors. In terms of international investors, was that a particular cause of concern? Mr. Moran indicated already that Jones Lang LaSalle gave advice to some of its investors to dispose of assets. In terms of international investors, how did the company...

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

John Paul Phelan: In terms of international branches of Jones Lang LaSalle, was Ireland registering in those offices and were those concerns being expressed in those offices at that time?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

John Paul Phelan: I may have missed this point earlier. Was the fee structure which CBRE would have applied, in terms of its work for its clients whether from a buying or selling point of view, a percentage-based fee or a flat fee?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

John Paul Phelan: Following on from that, were there any incentivised bonuses for staff, in particular, as was mentioned by a previous witness, with substantial sales? Was there an incentivised bonus scheme for employees, if those schemes came to fruition?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

John Paul Phelan: On page 6 of Ms Hunt's opening statement, she states: "Unusually, 100% of investment spend in Ireland in the period 2001-2008 comprised domestic investors." Although she may not be able to provide us with the information, to the best of her knowledge was that a change from the figure pre-2001 or would the 100% figure stretch back further than that?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

John Paul Phelan: How would that figure of 100% have compared with other countries, for example, in the EU?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

John Paul Phelan: In response to Senator Michael D'Arcy's questions, Ms Hunt stated that there was no analysis of valuations versus actual prices paid. I do not know how to ask this without appearing to be leading. Would it be part of the service provided by a company such as Ms Hunt's that there would be an ongoing analysis as to whether the valuations corresponded to the values that were paid?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

John Paul Phelan: If valuation is a significant part of Ms Hunt's business, is there not a necessity on her in that capacity that she would check to ensure that the valuation was reflected in the ultimate price? Is there not something of a contradiction?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

John Paul Phelan: Furthermore, in response to Senator Michael D'Arcy's question about the 2005 figures for commercial property in Ireland, how it was a record year and it trebled in 2006, Ms Hunt stated that "it would not be unusual" for such a trebling. Why would it not have been unusual? Surely, a record year such as 2005, and a trebling of that the following year, would have provoked some thought?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

John Paul Phelan: Finally, I have a brief question. The previous witness was at pains on several occasions to point out that from the end of 2005 his company was recommending to some of its clients to disengage from the commercial property sector in Ireland. Was there any such efforts by CBRE in terms of its clients in the Irish commercial property market?

Committee of Inquiry into the Banking Crisis: Context Phase (2 Apr 2015)

John Paul Phelan: I thank Ms Hunt.

Committee of Inquiry into the Banking Crisis: Nexus Phase (22 Apr 2015)

John Paul Phelan: I had a series of questions about the night of the guarantee but I think most of them have been asked. Just a brief recap on where the Chairman finished Mr. McDonagh. In relation to your own scepticism that you expressed about the two named institutions-----