IN THE PAPERS
In The Papers 10 November
10-11-2010
by Sylvia Leatham
Eircom staff to get Esop windfall | PwC launches probe over staff e-mails
The Irish Times reports that excessive use of mobile phone texting and long hours spent social networking may pose health risks for young people, according to new research. Heavy use of texting and online networking is associated with higher adolescent alcohol and cigarette use, as well as binge drinking and drugs. Those involved in "hypertexting" and "hypernetworking" are also much more likely to have had sex with a high incidence of multiple partners, according to the study by researchers from the Case Western Reserve School of Medicine in Cleveland.
The same paper says that more than 14,000 current and former Eircom staff are to get a pre-Christmas, tax-free windfall from the company's employee share ownership plan (Esop). Members were told on Monday that the Esop has decided in principle to distribute 13.5 million Vodafone shares that it owns to members later this month. Vodafone's shares closed on Tuesday in London at STG1.74, valuing the stock to be distributed at STG23.5 million. Esop members with a full allocation of shares from the trust will receive about EUR2,500 tax-free under the terms of its approved profit-sharing scheme agreed with the Revenue Commissioners.
In other news of Vodafone, the paper says the company continued to grow its Irish customer base in the second quarter, adding 31,700 customers, but saw its average revenue per user decline. Vodafone Ireland now has 2.38 million customers across mobile, fixed line and DSL, with a total of 2.18 million mobile subscribers. Data revenue grew strongly, rising 26 percent year-on-year. However, the mobile operator's blended monthly ARPU fell by 8.9 percent to EUR35.40.
The paper also notes that financial software firm Norkom has posted an 8 percent drop in revenue for the six months to the end of September. Revenues declined to EUR22.6 million from EUR24.6 million after what the company has described as a "challenging period". Pre-tax profits for the half-year fell to EUR252,000 from EUR3.178 million, and adjusted earnings fell to EUR0.016 from EUR0.0422.
The paper also reports on a Science Week event in Ballymun where students heard how classroom trigonometry has helped innovative companies to transform the music world. More than 100 transition-year students were told that Leaving Certificate mathematics is being used to make iPods. Michael McCarthy of the Waterford Institute of Technology said maths was not always as complicated as it seemed.
Meanwhile, the Irish Independent says that fewer students are taking science courses in college this year. After a 25 percent rise in science numbers last year, new figures show a decline this year. The statistics show that the number of first-year students accepting offers of places on science courses has dropped from 4,773 last year to 4,645 this year. The numbers accepting places on engineering courses rose by only three students, while the number of first years in computing has increased by only 31 to 2,687. The figures were compiled from CAO data by Dr Vivienne Patterson from the Higher Education Authority.
The paper also says that one of Ireland's largest accountancy firms has launched an internal investigation after male staff were found circulating e-mails where they rated the looks of their female colleagues. PricewaterhouseCoopers (PWC) started the probe after pictures of young women, who had just recently joined the firm, were sent around and nominated for a "Top 10". The e-mails were circulated between a group of up to 17 male staff members within PWC before being forwarded to other businesses. The 13 women, whose pictures were accompanied by their names and departments, all recently joined the accountancy firm as trainee accountants.
The same paper notes that students could be allowed to use mobile phones as part of the Junior Certificate oral Irish exam. Instead of sitting down formally with an examiner, they would instead speak Irish into a phone and be marked on what they said. A pilot study called FON found that students were much more relaxed recording conversation into phones than facing adult examiners.
The Irish Examiner reports that cost-cutting measures by Pigsback.com will help the company achieve continued operating profits this year. Last year, owner Empathy Marketing made a pre-tax loss of EUR906 following a loss of EUR4.9 million the previous year. Included in the 2008 loss was a provision of EUR4.7 million for an intercompany receivable balance. Turnover in the year to the end of December 2009 fell from EUR3.1 million to EUR2.7 million.
The paper also notes that Cork-based software firm Qumas bounced back into the black last year with pre-tax profits of USD1.6 million. This is a turnaround from losses of USD659,000 the previous year. Turnover fell from almost USD16 million in 2008 to USD15.5 million last year.
The Wall Street Journal says that Google is giving all 23,000 employees a 10 percent raise, according to sources. The raise, which will be given to executives and staff across the globe, is effective in January. The pay hike comes as Google ramps up its battle with competitors, especially neighbouring Facebook, in a fight to secure talented staff. Roughly 10 percent of Facebook employees are Google veterans.
Caped Koala Studios has built a virtual world for kids, combining education and social networking 