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The Irish Times - Wednesday, December 7, 2011

22.05.12

MICHAEL McALEER

Emission fear about Japanese-import

From TM: I bought a used Japanese Honda Fit 2004 original in October 2011. Lately, there was news that unscrupulous used-car dealers in Japan were selling vehicles exposed to precariously high levels of radiation to unsuspecting buyers. The vehicles appear to be evidently sound, but were owned by people living close to the Fukushima nuclear set out when it was damaged by earthquake and tsunami. I want to know whether the car I own was checked for radiation and deemed secure, and also whether the cars were checked for radiation at Irish ports before entry?  

Since the nuclear cataclysm, Japanese ports have been carrying out strict radiation checks and cars from these regions have reportedly been banned from export. A spokesman for the Radiological Buffer Institute of Ireland said that, alongside checks undertaken at Japanese ports, every once in a while tests were carried out across Europe, including in Ireland, from April to the end of July. No positive detects were found on containers/cars tested on entr to Ireland; a few positive detects were found in other EU countries up to June but none have been reported since then. If you are still concerned then contact the RPII instantly.

From WP: I have been offered a finance option for a new car, but it seems to me like a hire purchase deal. I’m indisposed to get involved in this but I’m sure finance is hard to come by these days. Any suggestions?  

While upon is certainly harder to get, the major banks are still lending for motor loans. They have been joined by the cash houses for the major car firms and most dealerships will have a finance partner.

It should be noted that most car firms furnish cars based on hire purchase agreements, which are like the asset pay for arrangements of old. In essence, the borrower doesn’t actually own the car until the last payment is made. This is not like a intimate loan, where you borrow money to purchase an asset outright but remain obliged to the lender.

During the boom years, a hire purchase arrangement may not have been a source of care for many, but given the current economic environment, it can be risky for those with an uncertain financial approaching.

From PM: I own a 2007 VW Golf 1.4-litre and would like to change it for a car slightly higher off the soil (two-wheel drive) with a more powerful engine. I am considering the Tiguan (having discarded the Golf Bonus as I do not like the short front). I have also been reading about the Audi Q3 and Mercedes B-Class.  

The Tiguan is a reputable buy, but I would also consider the Nissan Qashqai and Ford Kuga. As well as the Audi, there’s the BMW X1, the outdo driving car in the small crossover fleet. I’m not sure the B-Class would accommodate your needs.

Got a query? E-mail it to motorshelp@irishtimes.

Source: Irish Times

Construction firm gives up hospital contract as security

22.05.12

ONE of Ireland 's largest construction firms, John Paul, has put a hospital building contract at St Vincent's Inaccessible hospital Dublin, and apartments with parking spaces up as security and collateral for an extended due package with lenders.

The contractor, which is reporting revenues of €105m for 2010, has also signalled plans to increase abroad as "difficult trading conditions'' continue in Ireland , with margins under pressure.

The actors, which has completed major projects at Dublin Airport, UCD, Beaumont Hospital and Bonfire Hospital , has reported an operating profit of €2.2m for 2010, down from €4.8m in the aforementioned year.

Among the developments in 2010 was a three-year extension to existing loan agreements for its edifice at Classon House in Dublin 14. The accounts show that banks took charges over this construction and nine apartments and three car parking spaces as part of this package.

The group also provided additional guarantees, including the edifice contract for St Vincent's Private Hospital and a charge over a deposit account containing €250,000.

The visitors mainly earns its income from Ireland and the UK, but is gradually looking elsewhere for opportunities.

"The group will pursue to focus on projects in the healthcare and education sectors and civil engineering projects, and are secure of further successful expansion outside of Ireland,'' state the accounts.

The company's stability sheet is far stronger than many other building contractors and development companies, as it shows shareholder's funds event to €17.2m and cash at bank and in hand of €21.1m.

The Theatre troupe's payroll numbers have fallen from 204 to 155, with the total salaries dropping from €15.3m to €11.9m. Cicerone's remuneration and pension contributions came to €1m, unchanged from the previous year.

The accounts also show that a governor, DJ O'Brien, had a loan outstanding with the company worth €2.5m.

"This advance is non-interest bearing and is repayable in November 2012''.

- Emmet Oliver, Deputy Business Managing editor

Irish Independent

Source: Irish Independent