North Set for U.S. Money?

THE advent of a new power-sharing government in Northern Ireland will open the door to major U.S. investment in the state, says a leading American businessmen.

“If political stability is assured I see no reason why Northern Ireland cannot develop along the Irish Republic model,” said Don Keough, former president of Coca-Cola and now chairman of investment bank Allen and Company in New York.

Keough took part in one of President Clinton’s trips to Northern Ireland and has become familiar with many of the party leaders there. They have frequently consulted with him on economic matters, as has Taoiseach (Prime Minister) Bertie Ahern.

Keough was the businessman who first introduced Warren Buffett and Bill Gates to Ireland, bringing them both over on a familiarization trip in the early 1990s.

He says he believes many leading businessmen will be willing to help out again with the North and to become part of an advisory group to advise Northern Ireland’s new government on economic matters.

The belief is that it will be modeled on the taoiseach’s economic advisory group which consists of 20 or so leading Irish American businessmen who meet with Ahern when he is in Washington or New York.

Keough is considered one of the great powerbrokers in American business and has been featured on the cover of Fortune and Forbes. As chairman of the University of Notre Dame he raised over $2 billion for the college’s endowment fund.

“It is time for visionary thinking, for following up on the great promise of what has been achieved this week,” said Keough. “The goodwill is now here in America. It can definitely be tapped.”

Another leading businessman, Bill Flynn, former chairman of Mutual of America, also sees great economic opportunity for the North now that the government is being constituted.

“At last they will have a level playing field,” he says. “American business needs stability before it will consider investment. Until this week that could not really be guaranteed. There was always the fear of something slipping back.”

While the government in the Republic has made great use of the Irish American connection to win business, it was always a far more awkward relationship between the British government and their economic agencies and Irish American business.

“There was clearly a disconnect, a feeling of distrust that never led to the creation of the bond that is there with the Irish government,” said one leading businessman.” That can now all change.”

Now the equation has changed dramatically. “America loves a story like this, where former enemies become partners and the greater good is served,” says Keough. “This will be a great opportunity for the new government.”

SDLP Raises $300,000

DESPITE the fact that the SDLP lost ground in the recent Northern elections, the party still scooped up over $300,000 for their coffers at a New York fundraiser last week.

The event was held at the Rainbow Room in Manhattan and featured a 70th birthday tribute to Nobel Peace Prize winner John Hume, a founder of the party.

Among those attending was Irish billionaire Denis O’Brien of the Digicel cell phone company, who has been a huge supporter of the party in recent times. Current party leader Mark Durkan was also in attendance, as was John Hume’s wife Pat.

Despite the recent poor showing in the elections, Hume and Durkan were adamant that the party has a bright future. Durkan stated that the party had been proven right because they had helped initiate the peace process and had never gotten credit for that.

It is hard to argue with that frame of thought, but the party still has a huge uphill battle to prove that they are not in terminal decline. Both themselves and the Ulster Unionist Party have been losing ground to their opponents, Sinn Fein and the Ian Paisley-led Democratic Unionists over the last few elections.

It is hard to know what they can do to reverse the trend. The SDLP will have only one seat at the cabinet table in the new Northern arrangements. That will make it harder for their voices to be heard.

However, the success of the New York fundraiser is certainly a matter of pride for them.

No April Fools Joke

ONE of the more amazing aspects of the new peace deal in the North is the seeming good relationship between Martin McGuinness and Ian Paisley, once sworn enemies.

They signed a joint note to Northern Secretary Peter Hain asking him to vacate his Stormont offices as the Democratic Unionists and Sinn Fein were taking over the running of the government. It was such an unusual occurrence that many journalists were sure it was a April Fool’s Day prank.

It wasn’t, and we should be ready for much more of the same in the weeks and months ahead. The landscape of Northern Ireland has changed forever, as we will see on May 8 when both men take up their positions officially.

Interest in ILIR Family Day

THE Irish Lobby for Immigration Reform family day in Dublin on April 14 is certainly attracting attention from politicians, as well as the families concerned. Already two party leaders have agreed to speak at the meeting which will be held at the Jurys Hotel in Ballsbridge from 1-4 p.m.

Buses are organized from over a dozen different counties at this point, ensuring that families and friends from all over the country will be in attendance.

“I expect it will be very well attended,” ILIR Executive Director Kelly Fincham stated from Ireland this week. “We are getting a great response from grassroots Ireland, especially from local radio, where there is great interest in this issue.”