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lR i s h r i c o e s - O e C e O D B C R , 2 0 0 l-) A N U A R y , 2 0 0 2 eiR e B u s i n e s s in I r e l a n d by A Daniel McCaffrey, CFP The Irish Investm e n t Fund The Irish Investment Fund traded on the New York Stock Exchange under the symbol 1RL, in its quarterly report to stockholders stated that the Irish economy since 1990 in Ireland has enjoyed an eleven- year period where economy has averaged 7% per annum. The rate of unemployment has declined from 16.3% to 3.6%. This has been accomplished because of close cooperation between industry and third level academic institutions with the government provid ing support and funding to a series o f high technology proj ects. This highlights the gov ernment’s commitment to Ireland becoming a center of excellence in the information and technology age. Aer Lingus Aer Lingus, which was struggling before the September 11th tragedy, has not been able to develop any interest from private investors to purchase a stake in the air line. A press report that a group of venture capitalists were buying up to 34% proved unfounded. Meanwhile Aer Lingus received a welcome moment of relief recently when the European Commission relaxed its rules on airlines that are not using their slots at European Airports. This allows them to rent out the slots to other airlines. Ericom Telecommunication giant Eircom is about to get a new chief executive. Sources claim that Philip Nolan, who is now chief executive of British Gas, has emerged the front-runner for the position. The 48-year-old Mr. Nolan, Northern Ireland bom and a graduate of Belfast’s Queens University, is expected to replace current chief execu tive, Alfie Kane. Tax-evasion The Irish Times reported that the Revenue Commissioners have identi fied more than 600 individuals and trusts which are linked to the Ansbacher tax-evasion off shore accounts. The commis sion has yet to release the names o f the people involved, but it is likely that they will not remain anonymous or avoid financial penalties. D o w n sizing Celestica, a phone and pager maker announced that it would cut 450 workers at Swords in Dublin. The Irish Times announced plans to reduce its workforce by 250 people in response to a projected loss of $29 million. Waterford Wedgewood chief executive, Redford O’Donoghue, claims that the current business climate is the worst he has seen in 35 years after his company announced a 1,400 job cut for workers. He further announced that Waterford Crystal will shut down for a two week period before year end to save costs in response to their slowing business. Glencore Pic’s, Irish sugar division began winding down operations in Carlow and Mallow in response to the withholding of supplies by farmers in a row over the price of beets. The Good News Visatcc, the Dublin-based provider of high-tech and e- business solutions bucked the current high-tech downturn when it reported a 57% increase in profits year to date. The High Court is to hear a plan aimed at securing the sur vival of Digital Channel Partners Limited, a software technology firm. Ireland’s Elan Corporation is planning an initial public offering (IPO) of its Athena Diagnostics unit. It expects to raise $120 million. Ramco Energy, a Scottish exploration group, reported that it has successfully com pleted a testing of a gas well on its Seven Heads Field off Kinsole, County Cork. The gas is expected to reach the market by late next year. O’Reilly and the Irish Star Speculation is growing that Sir Tony O’Reilly is about to buy out Richard Desmond’s 50% stake in Dublin’s Irish Star newspaper. The paper is one of the most successful in Ireland with a circulation of 107,000 and profits close to $2.5 mil lion. The L igh ter S ide 1. A conservative is a man who believes that nothing should be done for the first time. 2. A fool and his money help stabilize the economy. 3. A free agent is anything but. Mr. McCaffrey is a Certified Financial Planner and Registered Investment Advisor In Williamsville, NY e-mail : admccaffrey@firstunion2.co m Website : www.danmccaf- frey.ftusec.com Ram b lings Valley Sets St. Patty’s Dates The Valley Community Assoc has begun preparations for the 9th Annual “Old Neighborhood” St. Patrick’s Day Parade and festivities that go with it. On Saturday, February 23, the Parade Committee will host a fundraiser at the Valley Community Assoc., South Park and Elk St. from 8 p.m. to Midnight. Admission is $10 and includes beer, snacks and live Irish entertainment. The 9th Annual “Old Neighborhood” St. Patrick’s Day Parade will kick off at Noon on Saturday, March 16 from the Valley Community Center, and retraces the origi nal 1913 parade route through the historic streets of the Valley and Old First Ward Proverbs As the old cock crows the young cock learns. A story without an author is not worth listening to. A trout in the pot is better than a salmon in the sea. Autumn days come quickly like the running o f a hound on the moor. A watched kettle never boils. A wedge from itself splits the oak tree. A welcome is a debtor’s face A whistling woman and a crowing hen will bring no luck to the house they are in. by Nellie Moran “ changed , changed u tterly ...” Failte. Welcome to what I hope will be a regular column in the Buffalo Kish Times. This may seem like an inauspicious time to begin an enterprise. We are still reeling from the horror of September 11th. Our nation and her people are enveloped in a shroud of grief and anxiety. It pervades our lives and pierces our very souls. Many of us, as we grab our morning coffee and head off to work are haunted by the thought of the thousands who began that fateful morning in the same way These are hard times both economically and emotionally. Very simply - we hurt. Everything has changed. As Yeats put it “changed, changed utterly.” We need to acknowl edge that. Perhaps we need to gnash our teeth and weep, to cry out, to say aloud what we know is true; It will take a long, long time before we heal. We cannot return to “our normal lives.” Those lives are gone. The world is not the same, New York City is not the same and we are not the same. We’re not fooling anyone, particularly our selves, ignoring, pretending, or hiding what we feel. What should we do instead? Perhaps we should cut ourselves some slack, seek some comfort, soothe our souls. Instead of try ing to return to who we were, why not accept who we are now and begin? Begin to build, begin to cherish, begin to cele brate. Let’s acknowledge our loss and consider all that we had to lose. Remember and celebrate the lives of those who have gone to their God. Recognize and embrace that which remains. We can begin, these changed souls, these people we’ve become. We can begin to work harder and to laugh more hearti ly and more often. We can begin to listen more intently, to look more closely, to care deeply and to act from that con cern. We can embrace the vision of a nation and a world that is not simply different, but stronger and better. I know this sounds like rhetoric, but what if is true? What if this is easier than it sounds? What if we have learned something about who we are and what we are capable of both surviving and achiev ing? We are changed. We have witnessed in a few horrifying moments our mortality, our vul nerability, our fragility. In an instant, both terrible and terrify ing, we realized what really mattered. We struggled to save people, not paper, not finances. In those telling moments, and in the days and nights that fol lowed, our actions stated unequivocally that, to us, people are more important than politics or property. Prior to September 11th, we not might have believed that about our fellow Americans, about New Yorkers or even about ourselves. We might not have predicted the acts of self lessness and sacrifice we wit nessed. We might not have even imagined the generosity, the compassion, and the faith, which swept through this nation like the breath of God. We might not now believe that we have the stamina to rebuild, the courage and faith necessary to begin. I believe we do. I encourage readers of this col umn to share that belief. Begin the novel that you have always wanted to write. Begin spend ing more time with your friends and family. Begin traditions that are meaningful and fun and that will puzzle generations long after you are dust. Begin working on something worthy of your time and effort. Begin to appreciate the beauty and infinite joy in life. Embrace it. Celebrate it. Revel in it and live well. It is, after all, “the best revenge.” Comments about the column can be sent to Nellie Moran do Buffalo Irish Times Editor’s Notes We are committed to a bi monthly deadline of the 15th of that particular month. The deadline for our next issue will be January 15. Your response to articles or your individual contribution is needed to allow the paper to continue its growth. Feel free to mail ideas or suggestions to: B u fpJ.o lieish TTtmes, 245 Abbott Road, • Buffalo, NY 14220. BIGS Buffalo Irish Genealogical Society nexc meetings 10:30 a.m. Saturdays- Jan. 19, 2002 April 20 July 20 October 19 Buffalo Irish Center- 245 Abbott Rd Fill out cards for our LITTLE BLACK BOX of surnames www.buffalonet.org/army/bigs.htm or www.buffaloirish.com PLEASE BRING YOUR GENEALOGICAL ROAD BLOCKS b u p p a L o n c r o e s 2 4 5 Abbott Road • Buffalo, NY 1 4 2 2 0 A bi-monthly publication of the Gaelic American Athletic Association, Inc. G.A.A.A. B o a r d o f D ir e c t o r s Mary C. Heneghan. Chairman Brian O'Hara, V. Pres. Carol McSwain, Sec. Sheila Barrett, Treas. Bruce Roscnberry Jack Hanley Charles McSwain Thomas Hennessy Ann Coffey Kathy Masterson EDITOR M ary C. Heneghan ASSISTANT EDITORS Michael McCafferty Seamus McMahon STAFF: Craig E. Speers, Jerry Shea, Mary Ellen Crotty, Charles Treanor, Bonnie O ’Hara, Sue McCafferty, Kevin O'Brien, Tim Leary, Carol McSwain, Nellie Moran, Donna Shine, Jack Fecio The Buffalo l*i*h Cimci welcomes letters or articles from read ers. Submissions must be typed or on a Macintosh or PC compatible disc, and be no more than 500 words. Include your name, address and phone number. Material may be subject to condensation. We reserve the right to reject any submission . Submissions will only be returned if accompanied by a self- addressed, stamped envelope. Opnions expressed in this paper reflect those of the authors and or subjects interviewed and do not necessarily reflect those of the editors and staff of the i*i«h C.me. or of the Gaelic American Athletic Association its Board or membership
