A round-up of today's other stories in brief
DCC chief paid €1.52m last year
DCC chief executive Jim Flavin was paid €1.52 million last year, down from the €1.625 million he received the previous year.
Mr Flavin's basic salary and fees were €846,000, on top of which he was given a bonus of €508,000. He also received a "special bonus" of €39,000 in "recognition of the exceptional demands" placed on him by the defence of the insider dealing action taken against him and DCC by Fyffes. The case is currently being appealed.
The balance of his remuneration was made up of benefits and pensions.
The next highest paid board member was executive director Tommy Breen, who got €800,000. Chief financial officer Fergal O'Dwyer was paid €719,000, including a "special bonus" of €21,000. Chairman Alex Spain received €153,000.
The total remuneration of the board was €3.65 million, down from €4.163 million.
Credit union body elects new head
The Irish League of Credit Unions has elected Samuel Adair as its new president for a two-year term.
Derry-born Mr Adair has been vice president of the league for the past two years and is director of Waterside credit union in Derry.
Kerry firm wins Malaysian deal
Kerry-based Altobridge has won a contract with Maxis in Malaysia to supply technology that will open up mobile communications to people in isolated communities.
Maxis is developing mobile phone networks in Malaysia but, up to now, it has not been cost effective to supply standard mobile phones in remote communities. However, technology developed by Altobridge will make this possible.
New chairman for pension association
Irish Life Investment Managers director Patrick Burke has been elected chairman of the Irish Association of Pension Funds (IAPF).
A solicitor by profession, Mr Burke is an associate of the Irish Taxation Institute and an associate of the Irish Institute of Pension Managers. He succeeds Joe Byrne, managing director of Coyle Hamilton Willis.
Intel to fund PhDs on elderly living
Intel and the Irish Research Council for Science, Engineering and Technology will co-fund six PhD students to research independent living solutions for older people.
The co-funding comes to €432,000 over three years and is part of Intel's commitment to the Technology Research for Independent Living Centre, established by Intel in conjunction with IDA Ireland.
Jackson settles with finance house
Pop singer Michael Jackson reached a settlement yesterday over a breach of contract claim by New Jersey-based finance house Prescient Capital.
Prescient sued Jackson and his MJ Publishing Trust in July 2005 for $48 million (€35.8 million), alleging breach of contract after providing financial advice to Jackson and his companies.
Prescient said it helped Jackson secure $537.5 million in financing to pay off his debts. - (Reuters)
UK firm close to buying Intelsat
UK-based private equity firm BC Partners is close to buying Intelsat, the world's largest commercial satellite operator, for about $5 billion (€3.73 billion), a person familiar with the matter said yesterday.
BC Partners would also take on more than $11 billion of Intelsat debt.
