Dr O’Brien rightly distinguishes between the concrete benefits in terms of successful  projects and the benefit of encouraging the more generic culture of research and entrepreneurship.

Article includes several interesting examples of recent initiatives.

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Was interested in listening to economist John Fitzgerald today.  Even if we end up putting €20bn into rescuing our banks this number will pale into significance when we look at costs associated with government spending – be that public sector or unemplyment payments.

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O’Brien is critical of our political system – whereby he believes we do not get the most competent people in key positions at a time of crisis.  I would agree with this.  My previous urging for a National Government is just another example of this.  Interesting to see Buffett reminding Democrats and Republicans to work together to address this ‘Pear Harbour’ economic situation – in his recent CNN interviews.  At best Fianna Fail’s invitations to the opposition to put forward their ideas can be described as half hearted.  The Fine Gael response was less than half hearted – they are more like a ‘dog in heat’ – believing they have the opportunity to grab power in the near future.  Heaven help us.

Returning to Dan O’Brien – he obviously believes the government is avoiding the issues re management at the main banks.  I had presumed, that given that the government is represented on both boards, they were 100% satisifed with the recent appointment of a new CEO at Bank of Ireland.  I think O’Brien is very clear – they should all go.

Interesting to listen to Michael Soden (former CEO Bank of Ireland) on this morning’s Eamonn Dunphy radio show.  Soden suggested complete replacement of both main bank boards (on basis of being in place while 99% of the value disappeared) - rotating off 4 at a time – getting to a new Board within 12 months.  Seems like a reasonable approach – and perhaps a way to implement what O’Brien is suggesting.  Soden excludes from necessary removal those with less than 2 years on the Board.

Things are moving on.  Obviously Messrs Cowen and Lenihan have been engaged in a serious roadshow for the last week.  There have been distractions – including unhelpful – and supposedly unfounded – comments from a German politician – subsequently countered by the German Minister for Finance.  The move towards a ‘toxic bank’ seems to be gathering speed in the US.  But clearly the US is taking the view that is can continue to write money to kick start things.  Only David McWilliams seems to think Ireland can do something similar (listening to him on Prime Time during the week).

Here in Ireland the press continues to be highly sceptical/ critical.  I continue to believe that a right of centre govenment (combining FG and FF – and anyone else who wants to be part of it) – would provide a national response and have the capability to win over far greater support – both in the street and the press.  Within such a government there should be room for non elected experts in key cabinet positions – is that’s what it takes.  Dan O’Brien is just another well informed commentator putting up his hand (again) and warning us that we are not doing enough.

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Over the last few weeks have seen a number of examples of restaurants in Dublin offering excellent value.  I see Tom Doorley writing on the same subject in the Irish Times today.  The begrudgers will moan about the prices the restaurants were charging during the Celtic Tiger days.  What’s the point?  These business ares fighting (1) for their existence and (2) to keep people in jobs.  One of the owners makes a point – when you ‘cut to the bone’ no money to advertise to tell people about the offers.  Use the web!  And if, as a customer, you think you got great value promote them on facebook, your own blog, wherever. 

 My example – gourmet burger kitchen in Temple Bar – last week on offer: outstanding cheese burger, bowl of chips and a softdrink – €10.

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It will be interesting to see how things play out. Obviously the traditional music industry has been taking a hammering. And the recent agreement is seen as a way to respect people’s property and protect employment. But will the social networking sites have to be dealt with in the same way as the more obvious p2p?

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