seamus dubhghaill

Promoting Irish Culture and History from Little Rock, Arkansas, USA


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Birth of Irish Billionaire Tony Ryan

tony-ryanThomas Anthony “Tony” Ryan, Irish billionaire, philanthropist and businessman, is born in Thurles, County Tipperary on February 2, 1936. He works for Aer Lingus, before going on to found their aircraft leasing arm, wet-leasing out their aircraft in the quieter winter months.

In 1975, with Aer Lingus and the Guinness Peat Group, Ryan founds Guinness Peat Aviation (later GPA Group), an aircraft leasing company, with a $50,000 investment. GPA grows to be the world’s biggest aircraft lessor, worth $4 billion at its peak. However its value dramatically collapses in 1992 after the cancellation of its planned IPO.

Ryan makes €55m from the sale of AerFi, the successor to GPA, in 2000. In 2001, he acquires Castleton Farm near Lexington, Kentucky from the Van Lennep Family Trust. He renames it Castleton Lyons and undertakes renovations to the property while returning to its original roots as a thoroughbred operation. He is a tax exile who lives in Monte Carlo, but also owns a stud farm near his home in Dolla, County Tipperary. He is the 7th wealthiest individual from Ireland in the Sunday Times Rich List 2007 with over €1.5bn(£1bn).

Ryan is best known in the public mind as the founder of the eponymous Ryanair with Christopher Ryan and Liam Lonergan. Ryanair is believed to be the main source of his wealth in later life. Ryanair is now one of the biggest airlines in Europe and is valued at over 15 billion Euros as of December 2019.

Ryan over the years helps nurture two successful business protégés, Denis O’Brien and Michael O’Leary, both of whom become billionaires.

Ryan holds honorary doctorates from several universities, including Trinity College, Dublin, the National University of Ireland, Galway and the University of Limerick.

Ryan is an active and innovative funder of university education in Ireland. He donates a marine science institute to NUI Galway in 1993 which is named the Martin Ryan Marine Science Institute in honour of his father. He shows interest in marine science and aquaculture development in the west of Ireland. He also funds The Ryan Academy for Entrepreneurship at the Citywest park, that is run by Dublin City University.

At the time of his death Ryan owns 16% of Tiger Airways, a discount carrier based in Singapore which is founded in December 2003.

Ryan dies on October 3, 2007 at Celbridge, County Kildare following an 18-month battle with pancreatic cancer. His eldest son, Cathal, dies just three months later, aged 48, after being diagnosed with cancer.


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First Edition of the “Irish Independent” Printed

irish-independent-first-issueThe first edition of the Irish Independent, flagship publication of Independent News & Media (INM) and Ireland’s largest-selling daily newspaper, is printed on January 2, 1905.

The Irish Independent is formed in 1905 as the direct successor to the Daily Irish Independent, an 1890s pro-Parnellite newspaper, and is launched by William Martin Murphy, a controversial Irish nationalist businessman, staunch anti-Parnellite and fellow townsman of Charles Stewart Parnell‘s most venomous opponent, Bantry’s Timothy Michael Healy.

During the Great Dublin Lockout of 1913, in which Murphy is the leading figure among the employers, the Irish Independent vigorously sides with its owner’s interests, publishing news reports and opinion pieces hostile to the strikers, expressing confidence in the unions’ defeat and launching personal attacks on the leader of the strikers, James Larkin. The Irish Independent describes the 1916 Easter Rising as “insane and criminal” and famously calls for the shooting of its leaders. In December 1919, during the Irish War of Independence, a group of twenty Irish Republican Army (IRA) men destroy the printing works of the paper, angered at its criticism of the IRA’s attacks on members of the Dublin Metropolitan Police and British government officials. In 1924, the traditional nationalist newspaper, the Freeman’s Journal, merges with the Irish Independent. Until October 1986 the paper’s masthead over the editorial contains the words “incorporating the Freeman’s Journal.”

For most of its history, the Irish Independent is seen as a nationalist, Catholic, anti-Communist, newspaper which gives its political allegiance to the Pro-Treaty party Cumann na nGaedheal and later its successor party, Fine Gael. During the Spanish Civil War, the Irish Independent‘s coverage is strongly pro-Franco and the paper criticizes the De Valera government for not intervening on behalf of the Spanish Nationalists.

In the 1970s, the Irish Independent is taken over by former Heinz chairman Tony O’Reilly. Under his leadership, it becomes a more populist, market liberal newspaper — populist on social issues but economically right-wing. By the mid-nineties its allegiance to Fine Gael has ended. In the 1997 general election, it endorses Fianna Fáil under a front page editorial entitled “It’s Payback Time.” While it suggests its headline refers to the fact that the election offers a chance to “pay back” politicians for their failings, its opponents suggest that the “payback” actually refers to its chance to get revenge for the refusal of the Rainbow Coalition to award the company a mobile phone licence.

In late 2004, Independent Newspapers moves from their traditional home in Middle Abbey Street to a new office, “Independent House” in Talbot Street, with the printing facilities already relocated to the Citywest business park near Tallaght.

On September 27, 2005, a fortnight after the paper publishes its centenary edition, it is announced that editor Vinnie Doyle will step down after 24 years in the position. He is replaced by Gerry O’Regan, who has until then been editor of the Irish Independent‘s sister paper, the Evening Herald. The newspaper’s previous editor Stephen Rae is also formerly editor of the Evening Herald and is appointed editor in September 2012. Fionnan Sheahan is appointed editor in January 2015.

In January 2008, at the same time as completing the purchase of Today FM, Ireland’s last national radio station independent of Denis O’Brien and state broadcaster RTÉ, O’Brien increases his INM shareholding to become the company’s second-largest shareholder behind Tony O’Reilly. In May 2008, O’Brien ousts O’Reilly and acquires a majority shareholding. Traditionally a broadsheet newspaper, it introduces an additional compact size in 2004 and in December 2012, following O’Brien’s takeover, it is announced that the newspaper will become compact only.

(Pictured: the first edition of the Irish Independent)