Expensive Watches, Wasteful Public Expenditure and the Mainstream Media

by Michael Hennigan Thu Oct 07, 2004 10:56

Until I had read a report a few months ago following the death of the late Irish Times editor Douglas Gageby, I had naively assumed that the conversion of the company which owned the newspaper into a charitable trust in 1974 had been solely an altruistic move to protect the newspaper from commercial interests.

In fact the buyout of the existing 5 shareholders almost sunk the newspaper. Douglas Gageby's slice was worth more than £300,000 Irish pounds- a lot of money at the time and tax free- and another shareholder who had cashed in his chips Major Tom McDowell, remained at the helm for almost the subsequent 2 decades.

A tax on capital gains was proposed in 1974 and was not enacted until 1975. (Minister for Finance Richie Ryan also made farmers liable for income tax- he was dubbed 'Richie Ruin')

by Tony Wed Oct 06, 2004 18:49

Gotta agree with Michael on this one.

The Irish Times is a lesson in abject hypocrisy.

A charitable trust that does not pay tax and pays nothing to charity. It's excessive payouts to the top brass are legendary.

And, when the readers have finished reading this "charitable" paper that publishes any tissue of lies that exagerates racism, poverty, discrimination out of all proportion - they can indulge in the best supplements in the country for multi-million euro properties and the latest S class Mercedes Benz.

RTE is a hijacker of money full stop and the compulsory nature of collecting licence fees is arguably in breach of Human Rights.

Article 10 of the European Convention on Human Rights says "Everyone has the right to freedom or expression. This right shall include freedom to hold opinions and to receive and impart information and ideas without interference by a public authority and regardless of frontiers.

This is not law but dont expect RTE to publicise THIS particular breach of human rights.

by Michael Hennigan Wed Oct 06, 2004 11:51

I have neither defended Hanlon nor questioned the right of RTE and the IT to report it. Just making the point that media organisations are not always examples of transparency themselves -the lucratitve non-compete contract agreed with the ex-editor of the IT and RTE's similar arrangement with Gay Byrne come to mind.

by Noel Wed Oct 06, 2004 10:03

So you're casting the first stone? Why shouldn't RTE and the IT report it? It says more about the mentality of Hanlon et al than reading some consultant's report. Way to go RTE and IT.