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Film Investment

If you want to keep more of your hard-earned dosh out of the taxman’s clutches then it’s time to go to the movies, advises Niall Brady in The Sunday Times.

The potential upside has increased since the government increased the threshold for investment in the film industry from €31,750 to €50,000, recognising its importance to job creation.

Stand-up Economics

David McWilliams is about to take to the stage but he ain’t getting out of Dodge, The Sunday Times reports.

The foppy-haired economic commentator who coined such iconic Celtic Tiger characters as Breakfast Roll Man and Miss Pencil Skirt, is in talks with The Abbey Theatre about a stage play based on the boom and bust of the economy.

“It’s more of an event than a play,” one source told the newspaper. “It’s stand-up economics in the style of Garrison Keillor.”

The Death of an Inventor

The death of Fred Morrison makes the international pages of several newspapers. He is credited with inventing one of the most iconic of toys – the Frisbee.

Morrison, 90, stumbled on his money-spinner when he and his girlfriend were throwing the lid of a popcorn box to each other in the back garden sometime in the 1950s. After it became dented, the pair moved on to the lid of a cake dish, which proved sturdier.

Ban on Upward Only Rent Reviews

Justice Minister Dermot Ahern has banned upward only rent review clauses in business leases. The banning order on upward only rent reviews will amend clauses under section 132 of the Land and Conveyancing Law reform Act. The section will come into operation on 28 February 2010. The ban will only apply to leases taken out after this date.

The Shelbourne Hotel

Dublin’s swish Shelbourne Hotel is a financial black hole. Its owners, who include property developer Bernard McNamara and oil distributor John Sweeney, have ploughed €230m into it with little prospect of any return.

An independent accountants’ report seen by The Sunday Business Post show a consortium of high-flying investors have earned nothing from their investment so far and “there is no expectation at present that there will be any return of investment in this property, nor indeed a repayment of capital in the short term”.

The report compiled by Baker Tilly Ryan Glennon will play a key role in Sweeney’s petition for examinership, which is due to be heard in the High Court tomorrow (Monday, February 8).

The consortium of investors paid €120m for the hotel in 2004 and then pumped a further €120m into a total renovation of the Stephens’ Green landmark.

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