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Denis O’Brien shows that for Ireland’s elite the good times still roll
ireland / britain | economy | opinion / analysis Wednesday June 15, 2011 22:07 by PaulB - 1 of Anarkismo Editorial Group
Just 12 weeks after the Moriarty Tribunal found that he made corrupt payments to Michael Lowry TD in order to influence the granting of a mobile phone licence, Denis O’Brien has shown that for Ireland’s elite the good times still roll. Digicel, the mobile phone company wholly owned by O’Brien, has announced that its net profit for the year ending March 2011 increased by €120million. In keeping with the true lack of transparency so beloved by our super-wealthy however, Digicel refused to divulge the actual net profit figure. What was announced was that O’Brien’s own personal income from Digicel last year was €28million, plus of course whatever income he has from his various other companies and investments.
Such a massive personal income puts into context the fact that staff at Dublin radio stations Newstalk, Today FM and Spin FM - all owned by another O’Brien company, Communicorp - were forced to take a pay cut of between 5 and 10% back in July 2009.
In early March, just before the Moriarty Tribunal report was launched, O’Brien was one of a group of 17 “leading figures” (as described by the Irish Times) who submitted a ‘Blueprint For Recovery’ to the Department of the Taoiseach. His recipe – cut social welfare, sack 30,000 public servants and slash public spending. As you might guess, nothing in there about making tax exiles pay their share. Despite being described as Ireland’s second wealthiest individual O’Brien pays no tax here and his personal wealth as of March 2011 has been estimated at just under €3billion.
O’Brien is no stranger to hypocrisy. When he spoke at the Business & Finance- organised ‘Outstanding Contribution to Ireland’ awards in late September, he bemoaned the culture of the ‘Blame Game’ which we are apparently fond of in Ireland. “Some of our collective mistakes and our over exuberance are costing Ireland dearly,” he said, “but we can and must learn from these mistakes…” Unfortunately he didn’t make clear who the ‘our’ he referred to was but somehow I don’t think the lesson ‘we must learn’ was that inequality and corruption are wrong.
O’Brien featured in the 1% Network’s Hallowe’en Treasure Hunt back in October.
O’Brien himself was nowhere to be seen which was a pity as we had prepared a tax bill for him which was duly handed across the gate to his 'gardeners'.”
When are we as a class going to get organised and tell O’Brien and his ilk that their greed, corruption and money-grabbing days are over?
Tue 10 Dec, 14:46
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