Celtic's going is good for Paddy Power

Paddy Power didn't wait long before snapping up one of the shops in Ivan Yates' Celtic Bookmakers.Early in the New Year, and before Celtic went into receivership, the country's biggest bookie took over a Celtic shop at Lombard Street in central Dublin. All traces of the Celtic brand have gone and the bright green logo of Paddy Power is clearly visible.

While the receiver to Celtic Bookmakers and Yates himself have said they hope to sell most of the shops, it's unlikely a buyer will be found outright. One senior betting industry executive told me last week that part of the problem is that some of the Celtic shops are not in ideal locations as the big chains had already taken the best sites in major towns and cities. With Celtic locked into expensive leases in some areas, a piecemeal sale of the business looks likely.

Should have gone to Specsavers for PR deal

With so many companies cutting back on their marketing and PR spending, a boost is in store for one lucky communications agency. Specsavers is apparently seeking a PR company in Ireland and one source said the contract is worth a six-figure sum.

The recession has hit the PR industry hard and even lucrative government contracts are hard to come by these days. With such a big fee on offer it will be a frenetic tender process to win.

Seán Quinn keeps his thoughts to himself

At this time of year we should be getting a New Year message from Seán Quinn. The troubled businessman, though, has yet to upload his latest thoughts and review of his company's fortunes on his website.

In his January 2010 message, Quinn was very optimistic about the future of Quinn Group, saying it was in a healthy state and he was considering a stock market flotation. He said this was despite the background of "some unfavourable media comment".

Sadly, 2010 turned out to be a disaster, with his insurance business being put into administration by the Financial Regulator and the lenders to the wider Quinn Group demanding talks on repaying his debt.

The sale of Quinn Insurance is slowly progressing to a conclusion but the negotiations with his banks and bondholders are no nearer to ending. Quinn lost control of the insurance business in 2010 and will be desperately hoping he doesn't lose ownership of the group this year.

Spring not in the air at Goodbody

Kerry's Fexco has been given the keys to Goodbody stockbrokers, which it agreed to buy from AIB late last year. Following regulatory approval it will now be able to assume full control.

While cost-cutting (and job losses) are due to be announced in a matter of weeks, the appointment of a new chairman for Goodbody hasn't been decided yet. One name that can be ruled out, though, is Fexco's vice-chairman, Dick Spring. As the former tánaiste is a non-executive director of AIB, a key role in Goodbody is off the table.