BA CABIN CREW STAFF TO STRIKE AGAIN TODAY - Today is day three of the strike by cabin crews at British Airways. But today, being a Monday, promises more chaos than at a weekend. The UNITE union has called on the board of BA to intervene and stop what it claims is the macho management style of Willie Walsh, the airline's chief executive.
Jeremy Batstone, of Charles Stanley, in London says that both sides in the BA dispute are extremely entrenched and do not really want to give an inch. He says that passengers are likely to experience another extremely difficult day again today. Mr Batstone says he does not see BA boss Willie Walsh backing down from his standpoint. He points out that only a small majority of cabin crew actually voted for strike action and there seems to have been quite a bit of strike-breaking by both cabin crew and volunteers brought in.
The analyst says the union may be fighting a 'rear-guard action' and says next weekend's four-day strike may be actually difficult to achieve. He also says it is important to point out that the deal with Iberia is likely to be struck in the next month or so, as well as the joint venture with American Airlines in the longer term. He says that unions are looking over their shoulders to see what those deals could potentially mean for them.
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NEW LOAN SCHEME LAUNCHED FOR SMALL FIRMS - A commercial loan scheme for small businesses has been launched by a Dublin Credit Union. It is hoped the scheme can be copied throughout the credit union movement. In conjunction with the local county enterprise board, Dundrum Credit Union has created a loan fund of up to €2m which offers small employers personal loans of up to €40,000 which can be used for working capital or investment for their business.
Michael Johnson, the CEO of the Dun Laoghaire Rathdown County Enterprise Board, says the credit crunch is the main reason for the creation of the scheme. He says a recent survey showed that 43% of businesses polled considered the availability of credit has gotten worse compared to the previous six months. A pilot initiative was launched in Kilkenny, which proved to be very successful. He says the County Enterprise Board found a very willing partner in Dundrum Credit Union, which has a great sense of community and responsibility.
Mr Johnson says he believes the scheme will help support the creation of 250 jobs over the next five years. He says this is the board's entire focus given the economic situation the country finds itself in.
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MORNING BRIEFS - Online auction company eBay is to announce later this morning that it plans to create 150 additional jobs at its European headquarters in west Dublin. The new jobs will bring total employment numbers at Blanchardstown between eBay and its sister company Paypal to more than 1,750. The new jobs will be in areas such as sales and technical support. In recent months, eBay's sister company Paypal announced the addition of 200 new jobs in Dublin.
*** A survey of pay and conditions amongst almost 1,200 small companies carried out by the Small Firms Association has found that just under half of firms cut their pay bill last year. The average fall in the pay bill at these companies was just under 20%. A third of the 1,195 companies surveyed kept their total pay bill at the same level. 43% of companies cut their workforce, while 41% maintained it at the same level.
*** Clonmel-headquartered engineering consultants Kentz Corporation has announced a more than 9% increase in pre-tax profits to almost $45m on a 9.5% increase in revenues to $705m.
*** On the currency markets, the euro is worth $1.3501 and 90.4 pence sterling.
