Dunne’s Stores victory as judge chops rent by a third
THE DECISION TO SLASH DUNNES STORES RENTAL PRICE BY 35PC HAS BEEN WELCOMED BY THE BUSINESS GROUPS AS A POSITIVE MOVE TO “CURTAIL THE MADNESS”.
The retail giant led by Margaret Heffernan (pic above) secured a cut in rental prices for its George’s Street property from a Circuit Civil Court yesterday.
Judge Jacqueline Linnane said that the supermarket chain was entitled to its own reduction and slashed the amount of rent Dunnes was paying.
Decline: ”The economy is in recession, there is a high rate of unemployment and there has been a fall in retail sales and a decline in consumer spending,” Judge Linnane said.
Dunnes Stores Dublin will now pay 35pc less to Layden Properties George’s Street Ltd for 10,500 square feet of retail floor space in the 125-year-old listed building it also uses as a head office.
ISME chief Mark Fielding said that it is a positive step in the battle to renegotiate rent prices for businesses.
“It seems as if the courts are at long last copping on to the fact that businesses cannot afford the Celtic Tiger rents that have been foisted on them,
“Any move to curtail the madness in the rental prices is welcomed. Landlords themselves are under the pressure from the banks and insurance companies but we would welcome it, obviously, if it is setting a precedent.”
However, the representative for small and medium businesses lashed out at Government bodies who have failed to step up and take action on this issue.
“There is still a long way to go,” he said.
Tackle: “I would have numerous cases of smaller businesses – that would be nothing like the likes of Dunnes Stores – and are unable to meet the rent. They don’t have the wherewithal to take a High Court case.
“With the Government chickening out on their promise to tackle upward only rent reviews – which they promised to do in their programme for Government – it is good that the courts are taking charge.
“The Government has instead scurried into the corner and said that they can’t tackle upward-only rent reviews.”
The review reduces the pre-existing rate for the retail area of €50 per square foot by 35pc to €32.50 per square foot.
Irish Government reviewing tax on oil, & gas exploration
Minister for Communications Pat Rabbitte has said an examination of tax rates for oil and gas exploration was being done to try to attract more investment offshore to increase the level of prospectivity.
Mr Rabbitte said he did not think Ireland was very much out of line with other countries in terms of rates and he said very high rates would deter exploration.
Speaking on RTÉ’s Morning Ireland programme, Mr Rabbitte said the alternative of setting up a State exploration company was not possible as Ireland did not have the money.
Mr Rabbitte’s comments came as Sinn Féin proposed new legislation seeking up to 80% tax on major Irish oil and gas discoveries.
Ireland currently applies a 25% corporation tax levy on petroleum firms while oil and gas field profits are hit with a graduated series of tax bands from 0-15%.
Mr Colreavy said that the party had not fixed a specific value for a major discovery. The proposed tax increase would not be retrospective and would only apply to future petroleum finds, he said.
Why don’t our GPs prescribe generic drugs more?
Moves by generic medicines maker Teva Pharmaceuticals to encourage greater awareness of post-patent drugs is very welcome. The company announced that it is using broadcaster Gay Byrne to front a new campaign to broaden awareness of generic medicines.
The state has been trying to save money by changing its purchasing policies in relation to medicines, with some success. One of the state’s biggest expenses in relation to medicine is through the medical card system.
Surveys have found that one third of medical card holders in Ireland are not using generic medicines. Ireland lags other EU countries in its usage of generic medicines.
The latest campaign is being supported by around 400 pharmacies. The only occasions I have ever been encouraged to use a generic drug were when offered it as an option by a pharmacist.
Ordinary consumers like me are not aware that a generic version of something even exists. We need our pharmacist to tell us there is an alternative, cheaper option. In the last 12 months pharmacists have suggested to me that I could consider trying a generic alternative to something that I asked for at the counter. Prior to that I don’t think I was ever offered a generic option.
I have never had a doctor prescribe a generic drug to me. At least, I am not aware of having been prescribed a generic drug. Promoting the generic option has all kinds of benefits. It is often cheaper for paying customers like me. If used by medical card holders, it should reduce the state’s medicines bill.
But surely, a public awareness campaign has to examine the role of the GPs. Why are GPs not prescribing or at least recommending enough generics? Consumers and pharmacists can heighten awareness, but GPs also have a big part to play.
Research has indicated that pharmacists are three times more likely to recommend generic medicines than doctors, according to Teva. New legislation makes it obligatory for pharmacists to offer patients generic medicines rather than the more expensive branded alternatives.
If the use of generics in Ireland is so much lower than our EU counterparts, then doctors have a role in helping to turn that around.
Why would doctors not prescribe more generics? Do they believe the generics are inferior in some way? If so, that is a worrying issue for all of us and we should know about it. Is it habit?
Perhaps doctors are used to recommending particular branded products they know will work and they need an awareness campaign for themselves.
Are they too close to certain pharmaceutical companies? What kinds of freebies, junkets or paid for conference trips are going on within the industry? Ordinarily, these kinds of things are simply part of commercial life. Insurance reps take clients on golf outings. Lots of companies pay for journalists to go on trips. It is very hard to ban and there is a case that perhaps it couldn’t or shouldn’t really be banned. That would mark a very direct state interference in the workings of industry.
But one would have to ask what role or influence such commercial relationships could play in the area of generic medicines, which affects us all in different ways.
NEW IRISH LAW WILL ALLOW GOVERNMENT TO SHUT DOWN PHONE NETWORKS
Legislation is to be introduced to allow the Justice Minister order mobile phone companies to shut down networks to prevent terrorist attacks.
The laws are to be introduced in the coming week by the Justice Minister ahead of next month’s G8 summit in the North.
Justice Minister Alan Shatter said that the reason for amending the laws is the fear mobile phones could be used to trigger bomb attacks at the summit of world leaders in Fermanagh.
“The upcoming G8 summit in Co Fermanagh has brought a particular reality for the necessity for this legislation,” he said.
“It’s possible that terrorist groups may try to use the occasion of the summit, to the very least, garner publicity for themselves.
“This is not to ignore the very real danger of the loss of life is such a device was successfully detonated.”
Eight world leaders will jet in for next month’s G8 summit in Co Fermanagh, including US president Barack Obama, who will also use the trip to make his first visit to Belfast.
Details of First Lady Michelle Obama’s travel will be announced at a later date but she is widely expected to return to the Republic and visit her husband’s ancestral homeland in Moneygall, Co Offaly.
Other politicians to attend the G8 conference will include German chancellor Angela Merkel and UK Prime Minister David Cameron.
It is believed the meeting on June 17 and 18 will generate up to £40m (€47m) for the local economy.
Mr Shatter said the summit, at the Lough Erne golf resort on the outskirts of Enniskillen, created a real necessity for legislation to give the Government the power to ask phone companies to cut or limit signals.
He revealed the plan as he announced changes to the new Money Laundering and Terrorist Financing Bill.
“The purpose of these amendments will be to allow for direction to issue to mobile phone service providers to cease service provision in a limited area in order to prevent death or damage to property,” the Minister said.
“The provision will contain safeguards to ensure that any interference to services is limited to the extent necessary to deal with the threat.”
Elsewhere, a major public march and rally will be held in Belfast the weekend before the G8 summit.
Trade unions and campaign groups like Amnesty International and Friends of the Earth are organising a Fairer World Festival to coincide with the event.
Mr Shatter announced the amendments to the new legislation – which is yet to be passed into law – at a parliamentary committee meeting.
Scientists seek the secret of comfort eating in NUIG
GALWAY RESEARCHERS BELIEVE NEED FOR FOOD MAY STEM FOR CHILDHOOD
Researchers at NUI Galway say ice cream is a favourite for comfort eaters.
Researchers are finally hoping to unlock the secret of why we turn to comfort eating.
A team at NUI Galway is now looking for volunteers to give them an insight into the real need for late night snacks or why we binge or our favourite food at other times.
The researchers reckon that our need for comfort eating – chocolate, ice cream or ready to eat, convenience foods are favourites with most people – may stem from childhood. And it has less to do with satisfying hunger than meeting a need for stress relief or a reward.
The Galway study aims to examine the influence of emotional factors in childhood on comfort eating and weight. They have devised a questionnaire which investigates these issues, and will also be conducting individual interviews.
“We’re hoping to explore the relationship between a range of factors, such as how people learned to cope with their emotions in childhood, or how people relate to others, and how this influences eating patterns and BMI in adulthood”, said Roisín Finnegan, a trainee clinical psychologist who is carrying out this research under the supervision of Dr Jonathan Egan, lecturer in psychology at NUI Galway.
While the wide availability of convenience foods and an increasingly sedentary lifestyle are recognised as significant contributing factors to the spike in obesity rates, research to date has revealed that psychosocial factors in childhood, such as abuse, lack of parental support, and depression, may also play a role.
“We believe that children growing up in an environment where they feel unable to express their emotions may turn to food as a source of comfort,” said Dr Egan.
“This pattern of coping with emotion through food continues into adulthood, and may well contribute to weight problems. These are just some of the factors we’re interested in investigating further as part of this research.
“We’re also interested in the concept of mindfulness, and how the ability to attend to how one is feeling in the present moment may act as an antidote to emotional eating.”
Volunteers taking part in the project have to be over 18 and interviews will take place in Laois, Offaly, Longford and Westmeath. The research is being funded by the Millennium Research Fund at NUI Galway and further detail are available athttps://www.surveymonkey.com/s/comforteating
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