Previous articleThreat to future of St Paul’s Nursing HomeNext articleWillie in Wonderland admin House prices could lose half their value, says Goodbody’s THE Government has forced NAMA to use out-of-date, inaccurate information to overvalue bank loans, according to Fine Gael’s Michael Noonan. Goodbody’s prediction that house prices will end up falling by 50% before levelling out, he said, spells yet more trouble for NAMA and further pain for taxpayers, “The prediction that house prices will lose half their value is desperate news for struggling homeowners. This outcome would send thousands more tumbling into negative equity.Sign up for the weekly Limerick Post newsletter Sign Up “The consequences for NAMA and the taxpayer are equally worrying. NAMA’s so-called ‘business plan’ is based on the assumption that property prices will rise from the levels of last November – the reference period for determining the current market values of the banks’ toxic developer loans that NAMA is buying.“ But according to Goodbody’s, house prices have continued to plummet since then and are set to fall by a further 16% in the immediate future”.It was bad enough, continued deputy Noonan, that the taxpayer was being forced to pay far more than current market values for toxic developer loans in a tumbling property market on the basis of their ‘long-term economic value.“But making matters even worse is the fact that NAMA is forced by the Government legislation to estimate this long-term value using outdated and inaccurate information.“Only last week the ESRI predicted that the Irish labour force and population would shrink in the coming years because of recession-related emigration. This will mean lower demand for property. But in estimating the long-term value of the property-related assets that it is buying, NAMA is prevented from using economic and demographic projections from beyond last January. At that time, the CSO was still predicting a growing population for Ireland in the coming years”.There were, he continued, certain accountancy rules which require banks to state their asset value on the date of audit, and prevent them from predicting a declining market, but that no such constraints applied to NAMA. “The chances of NAMA recovering taxpayers’ money, he concluded, seemed slimmer by the day. Advertisement WhatsApp Linkedin Email Twitter NewsLocal NewsNoonan fears further pain for taxpayers’By admin – July 22, 2010 507 Print Facebook
Airtel will contribute a total of shs 10 billion towards the Uganda Cranes for the next 4 years that will be shs 2.5 billion every year.THIS WEEK: Airtel resumes Cranes’ sponsorshipKampala, Uganda | THE INDEPENDENT | Airtel Uganda has resumed sponsorship of the National Football team – the Cranes sponsorship with Shs10billion.This meant that the Telecom Company has renewed its ongoing partnership with the Federation of Uganda Football Association (FUFA) as the official sponsor of the team for another four years. In addition to the national team that the company started sponsoring in 2013, it also sponsors the Uganda Cup and the FUFA Big League. Charles Bakkabulindi, the minister of state for sports commended Airtel. “We are grateful to see an international brand like Airtel sharing the passion and love that we have for this team by sponsoring them,” Bakabulindi said.Airtel’s Managing Director, V.G. Somasekhar said that since Airtel signed the partnership agreement with the Uganda Cranes national team, it has enjoyed a long list of successes both for the team and for the individual players. “To us, this is an indication that a strong partner that believes in you is a key component of success,” he said.Share on: WhatsApp
Facebook50Tweet0Pin0 Submitted by Adopt-A-Pet of SheltonLook at that happy face! Sattin is a young Labrador Retriever mix with a beautiful black shiny coat and sparkling brown eyes. This energetic young girl is about 18 months old. She is still learning and needs a patient owner who will continue to work with her and give her lots of attention, exercise, and love.Sattin is a work in progress but everyone who has worked with her can see so much potential if she can be kept busy and out of trouble. She would probably do best with an active family who can spend time training and exercising this smart, athletic girl. We would not recommend young children because of her high energy level.For the right family who can let Sattin enjoy the pleasures of being a young and playful dog while working with her to learn self-control, Sattin could be the dog you have always been looking for.We have lots of great dogs at our dog shelter on Jensen Road in Shelton, which we list on our website at www.adoptapet-wa.org and on our Facebook page. We always welcome volunteers and donations to help care for them. Contact us at www.adoptapet-wa.org or contact us at [email protected] or (360) 432-3091.