NI Presbyterian mutual society, Short of funds for withdrawal?

ballyblack · 7 August 2011 at 12:30PM

BBC RADIO ULSTER LISTEN AGAIN HERE;

It starts 1min 40 secs into programme

http://www.bbc.co.uk/iplayer/episode/b01301vk/Sunday_Sequence_07_08_2011/

Flinflon · 7 August 2011 at 12:45PM

Lion44 wrote: »

Some interesting information from Mark Orr re the Secretary which comes as no surprise. As for DETI they are still trying to pass the buck. Always blaming others:eek:. Always the perfect Department!!

Mark Orr said he was able to get a redacted version of DETI's confidential (up to now) report re the PMS, completed months ago. He said the DETI inquiry found that the PMS directors had delegated too much authority to Ferguson, secretary of the PMS. Orr said this was because the directors were very busy people. He also said he regarded the DETI report as giving the directors a clean bill of health, and said the DETI minister had seen no evidence the directors did not act in good faith. Former PCI moderator Dr. John Dunlop was also on the programme, basically as an apologist for the church's solid response to the crisis. He completely dodged the first question from William Crawley, who asked pointedly how damaged was the church's reputation as a result of the PMS situation. Dunlop answered that it had been a very difficult time for the church (as an institution, and for the people in it). Hmmm. Well, I guess we knew that, didn't we? For a more perceptive comment re damage to the church's reputation, see the leader column from the News Letter last Wednesday: "The image of the Presbyterian Church has been severely tarnished and there must be an inquiry into their appalling performance, particularly in the early days of the crisis." We savers are hopeful people, and I hope the next issue of the Presbyterian Herald will dare to be that honest.

Lakeland · 7 August 2011 at 4:42PM

On a brighter note: Times Money " The economy has bright spots. Commercial property has been a realtively strong performer this year, with SWIP UK Real Estate up 5% over the past six months and Aberdeen Property Share up 4.8 % according to financial Express" Prpoperty is expected to deliver returns averaging 8% a year in the five years to 2015" All is not lost, PMS commercial portfolio may well live up to Eric Cairns comments (referred to by Mark Orr today)in November 2008. Arthur Boyd has been excellent in management thus far, lets encourage him to turn full attention to debt recovery.