Friday 19 January 2018

The Punt - Ryan Tubridy's media firm had a good year

Ryan Tubridy
Ryan Tubridy

RTE'S highest earning star is doing alright, despite taking a hefty 32pc pay cut.

The cash pile at Ryan Tubridy's media firm has climbed to over €290,000.

That's according to figures lodged with the Companies Office by Tuttle Productions Ltd.

Accumulated profits at the business increased by €26,390 from €227,661 to €254,051 in the 12 months to the end of August 31st last, the figures show.

RTE last year confirmed that Tubridy was its best paid broadcaster in 2012 when he received €495,000 for presenting 'The Late Late Show' and his 2FM radio show. That compared to the €723,000 he was paid in 2011, before he took the 32pc pay cut in his current contract.

RTE is not his only gig though, so income at the firm would also include revenues from stints at BBC Radio 2 in the UK where he has stood in for Graham Norton.

In an interview last year, Tubridy – who turned 41 last month – confirmed that he was willing to take a further cut in his annual salary at RTE.

He said: "I have delivered every time a knock has come on my door for a pay cut. I have taken at least 32pc already. I will not be found wanting. I never have in the past and I won't be in the future."

O'Leary ready to pack bags

Ryanair boss Michael O'Leary will have no excuse not to pack his bags and head off with the missus and kids for a holiday.

His airline yesterday unveiled details of its new 'Ryanair Family Extra' offer, which includes on-board bottle warming and baby-changing facilities. The Punt is surprised that the airline has missed out on potential ancillary revenue by not offering to charge €5 to have your baby's nappy changed by cabin crew. Ryanair's big push to lure families is all part of its plan to boost passenger numbers.

As part of it its new pitch, it's offering big discounts on allocated seating for children, discounts for checking in their bags and lower fees for infants as well as other incentives. Ryanair's chief marketing officer, Kenny Jacobs, said that the airline's new app and mobile boarding passes will be introduced in July, with Ryanair's new business product coming after that. But will the new family-friendly initiatives be enough to persuade Mr O'Leary to haul the clan away for a week or two? The Punt isn't so sure.

A couple of years ago, he told an interviewer that he goes away on holiday reluctantly. "I do it because I have a wife and four children who insist that I have to go away every year otherwise they will be traumatised," he said. "I try to explain to them they'll be more traumatised having me there for two weeks."

US states vie as tax havens

AS THE EU begins to probe Apple and other multinationals over their tax affairs, the Punt was reading a piece in the 'New York Times' from a couple of years ago about one of the world's biggest corporate havens – the tiny state of Delaware.

"Big corporations, small-time businesses, rogues, scoundrels and worse – all have turned up at Delaware addresses in hopes of minimising taxes, skirting regulations, plying friendly courts or, when needed, covering their tracks," noted the piece, which also observed that Delaware has more companies registered than it has citizens.

More recent research – by an Australian political scientist – found that it's easier to open a secret bank account in Delaware than it is in Bermuda. Nearly half of all public corporations in the US are incorporated in Delaware and the state rakes in more than $850m (€627m) in annual corporate taxes – that accounts for about 40pc of its state budget, according to recent figures.

But Delaware may have competition. Connecticut is trying to challenge it as the US corporate magnet. A new 10-year plan is being drafted, spearheaded by a local congress-man, to overtake Delaware in the business stakes.

Irish Independent

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