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Thread: Michael O'Leary - Ireland's Economic Saviour ?

  1. #51
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    Quote Originally Posted by Abacus View Post
    Michael O'Leary was in explosive form this am (29/11/09) on RTERad1 on the 'Marion Finucane' show.
    Really well worth listening to. His abrasive, arrogant style is just so hard to take at times but hey, the guy is a winner. He's a colossal success while all the mealy mouths who attack him are knee deep in failure and hamstrung by an inability to cope. So who should we listen to ?

    His pronouncements on (i) the Government and (2) Aer Lingus are just so upsetting for the status quo yet so well supported by substantial facts that he is in an unassailable position. Interestingly, very interestingly, he would not enter politics.

    On the Podcast, no doubt.
    Fascinating interview. In many ways, the guy is a breath of fresh air. His description of Bertie Ahern as a "feckless ditherer" is just so apt. It surpasses even the very good "useless wastrel" that he described him before The comparison with Des O'Malley was interesting as well. When they tried to bring in a law, making it illegal for travel agents (but not Aer Lingus or BA) to sell discounted air tickets O'Malley recognised it for the crock of sh!t that it was, but Ahern came up with this mealy mouthed formula that the government was against it, but the Dáil was (or something else ridiculous like that). Typical Bertie, trying to be everything to all men.

    It was interesting as well that he refused to go to the international Farmleigh get together there recently. Quite rightly, he sensed the conflicting aims of self-serving, publicity seeking, politicians with the stated aim of helping to fix the country's problems.

    His views on income tax are interesting also. A lot of people will agree with him, that 50% marginal tax, is a rough limit, beyond which, difficulties will arise in the long run, simply by people like him (and even less well paid people, imo) emigrating.

    While I admire his candour, on matters political, I still believe his obnoxious, and arrogant style has actually damaged his company more than it has helped it. The fact that Ryanair don't use advertising agencies (anyone with a pony tail would be run out of the place ) and the fact that they stick to the "no such thing as bad publicity" maxim shows an incredibly naive attitude towards PR. I've always believed that the reality of Ryanair is nothing like as bad as the public image. A small example from Marian's interview. MOL noted that the average fare paid by passengers out of Shannon was €8 all in. It was obvious that Marian (and most listeners I'd guess) just didn't believe that. They would presume that all kinds of charges and taxes would be added to that. I've noticed that before. Sometimes, Ryanair run a promotion where their low, discounted fares included all charges, but nobody who doesn't actually avail of these fares, actually believes it.

    He made some interesting points as well about the aviation regulator, but again, unless you actually heard this interview, you wouldn't be likely to have a favourable view towards Ryanair, in their never ending dispute with regulators/airports.

    But, in any case, it was a riveting interview. mp3 here

  2. #52
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    MOL has enough in the bank that he can be his arrogant self. But where were this gentlemen (Mick Wallace included) in the days when even the man on the street knew that the bubble that was Ireland could not sustain itself.

  3. #53
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    O'leary is an absolute legend, we need more people like him in this country, I have always admired his no nonsense style, he'd make an excellent minister for finance.

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    Quote Originally Posted by True Republican View Post
    O'leary is an absolute legend, we need more people like him in this country, I have always admired his no nonsense style, he'd make an excellent minister for finance.
    Cannot see MOL taking a pay cut and having to be part of a team, my sense is that is not the way he rolls

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    Just wondering what the bold Michael would do if appointed to some kind of CEO position in Dept for Health ?
    Sort it in 1 year ? 3 years ?
    What strategy could be used to get him interested ?

  6. #56
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    Quote Originally Posted by orbit View Post
    When they tried to bring in a law, making it illegal for travel agents (but not Aer Lingus or BA) to sell discounted air tickets O'Malley recognised it for the crock of sh!t that it was, but Ahern came up with this mealy mouthed formula that the government was against it, but the Dáil was (or something else ridiculous like that). Typical Bertie, trying to be everything to all men.
    Reminds me how Bertie introduce a tax amnesty as Minister for Finance while being totally opoosed to it.

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    Quote Originally Posted by GabhaDubh View Post
    Cannot see MOL taking a pay cut and having to be part of a team, my sense is that is not the way he rolls
    Why would you expect MOL to take a pay cut?? and be part of a team???.

    Do you not understand that he makes his own money, does his own thing so doesn't have to answer to anybody..

    The good thing is that you "GabhaDubh" are also free to setup your very own airline, make millions and have the same privilages..

    fly GabhaDubh!..

  8. #58
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    MOL has an ill-deserved reputation for financial acumen- he cost ryanair an absolute fortune (from memory over 200 million but open to correction) by cocking up their oil hedging strategy twice- he didnt hedge when he should have and did hedge when he shouldnt have. If someone in a state company had done it, he would have crucified them. Also how much has he now lost in Aer Lingus?

  9. #59
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    Quote Originally Posted by Pabilito View Post
    Why would you expect MOL to take a pay cut?? and be part of a team???.

    Do you not understand that he makes his own money, does his own thing so doesn't have to answer to anybody..
    My point exactly. There is no way MOL could operate in a ministerial position. He would have to be the top dog. Regarding his success at Ryanair it is well deserved, all I am saying that MOL is use to dictatorial control and could alienate rather that alleviate the situation in a government format.

  10. #60
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    Quote Originally Posted by joeclogs View Post
    MOL has an ill-deserved reputation for financial acumen- he cost ryanair an absolute fortune (from memory over 200 million but open to correction) by cocking up their oil hedging strategy twice- he didnt hedge when he should have and did hedge when he shouldnt have. If someone in a state company had done it, he would have crucified them. Also how much has he now lost in Aer Lingus?
    Hind-sight is marvelous.. It should be made compulsory..

    Anyway, joeclogs.. MOL has an absolute fortune,. how many millions did joeclogs make in the hedging market?

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