Low-cost solution to high-cost management
The incumbent managing director, who is reported to be on €700,000 a year, could be replaced by a Latvian MD who would be happy to assume the same responsibilities for, say, €6.50 an hour and he would also forego all those attractive share options.
And there are many Africans from a seafaring tradition who could sit on the board (for very little) to look after operations and maritime issues.
Toss in a few low-cost Poles and Romanians with business degrees (who will work for room and board plus pocket money), and we would have a viable company.
The Irish Ferries board have been threatening to close (or sell) the company anyway, so with my solution we save big money immediately, get rid of the actual problem and keep Irish jobs for another few years.
John Mallon
Shamrock Grove
Mayfield
Cork
