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1. Snr Ntr Election Campaign Results

Shane Peter Nathaniel Ross (born 11 July 1949) is an Irish Independent politician who has served as Minister for Transport, Tourism and Sport since May 2016. He has been a Teachta Dála (TD) for the Dublin Rathdown constituency since 2016, and previously from 2011 to 2016 for the Dublin South constituency. He was a Senator for the University of Dublin from 1981 to 2011.

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He was a former business editor of the Sunday Independent. He was a Fine GaelWicklow County Councillor and a former Fine Gael general election candidate, in the Wicklow constituency. Ross was the longest-serving member of Seanad Éireann (representing the University of Dublin constituency), until he was elected to Dáil Éireann as a TD for the Dublin South constituency at the 2011 general election.^[1] In the 31st Dáil, he was a member of the Dáil Public Accounts Committee. He co-founded the Independent Alliance with Michael Fitzmaurice in 2015. He was re-elected to the 32nd Dáil, and appointed by Enda Kenny as Minister for Transport, Tourism and Sport in May 2016.

• 2Shareholder activism

Snr Ntr Election Campaign Results

Early life and career[edit]

Shane Ross was born in Dublin in 1949. He was the son of former Senator and prominent member of the legal fraternity, John N. Ross,^[2] and the noted gardener and writer Ruth Isabel Sherrington.^[3] He was schooled at St Stephen's School, Dundrum, and Rugby School, before attending Trinity College Dublin, from where he graduated with a degree in history and political science in 1971. During his time in Trinity, he was the Record Secretary of the College Historical Society. A stockbroker with NCB, Ross was Business Editor of the Sunday Independent, Ireland's biggest-selling weekend broadsheet, until his election to the Dáil in 2011, when he resigned the post. He is married to Ruth Buchanan, a former presenter and journalist with RTÉ, Ireland's national broadcaster. His son-in-law is Nick Webb, who succeeded him as Business Editor of the Sunday Independent.

He was first elected to the Seanad in 1981, as an Independent candidate for the University of Dublin constituency, and was re-elected on nine occasions^[4] becoming the longest-serving member of the house.^[5]

He stood unsuccessfully as an Independent candidate at the 1984 European Parliament election, for the Dublin constituency. At the 1991 local elections, he was elected as a Fine Gael candidate to Wicklow County Council, for the Bray electoral area, and served until 1999.^[4] He stood as a candidate for the party in the Wicklow constituency at the 1992 general election, but did not gain a seat, remaining instead in the Seanad where he once again sat as an Independent after the 1997 election.

He is one of Ireland's most visible business commentators, promoting free enterprise, small government and low taxes and is widely identified as one of the most visible champions of laissez-faire capitalism in Irish politics, praising Irish Finance MinisterCharlie McCreevy.^[6] as a 'brilliant Minister in the boom years' and lauded McCreevy's controversial tax individualization as 'visionary'.^[7] He profited from the boom in Irish land prices, selling his home at Carrickmines to a developer in 2004 for an estimated €4 million to €4.5 million an acre; however he subsequently bought a house in Enniskerry for €6.2 million in 2005. Despite labeling himself as one of Ireland's foremost business commentators his record as a stock picker is mixed, as he noted himself 'my record when a stockbroker was so bad that Dermot Desmond rightly gave me my P45. ...if any readers are beginning to take me seriously, remember it was I who advised people to sell First Active Shares when they went public and subsequently quadrupled and it was I who told innocent investors not to touch Ryanair shares with a barge pole at the flotation. They rocketed.'.^[8]

Shareholder activism[edit]

Ross promotes himself as standing up for small shareholders and consumers.^[9] In 2000, he and Eamon Dunphy, championed the case of small shareholders of eircom, after shares in the former state-owned company dropped by more than a third in value in just over a year. Ross took the board of directors to task over the level of salaries, bonuses and fees being paid and denounced a plan whereby senior management were to get share options at a value below the flotation price. He was also sharply critical of the decision to sell the mobile phone arm Eircell to Vodafone and later sought the dismissal of 5 board members at the March 2001 AGM,^[10] citing poor share price performance and poor acquisitions.

At a shareholders' meeting in May 2005, Ross highlighted the monopolistic practices of tolling agency NTR plc.^[9] Ross persisted in drawing attention to the issue, criticising the National Roads Authority in August 2008, for its inadequate and confusing management of the M50 barrier-free tolling system,^[11] and was reported in The Sunday Times of London as having declared that 'The removal of the barrier should have been cause for celebration. Instead, we have higher tolls, an administrative mess and pending chaos'.^[12]

Stance on Corporate Governance and Cronyism[edit]

The packaging conglomerate Smurfit Group, which was widely held by small Irish shareholders has also been a frequent target for Ross, specifically its high executive pay, poor shareholder returns and alleged nepotism^[13] and cronyism.^[14]

Criticism of Bank of Ireland[edit]

Prior to the Irish financial crisis he was a persistent critic of the performance of Bank of Ireland, of which he was a shareholder. He contrasted the conservative performance of the 'establishment' Bank of Ireland with other financial institutions, notably Irish Nationwide Building Society (INBS) and Anglo Irish Bank (Anglo) which he praised. In his Sunday Independent column he described Michael Fingleton's Irish Nationwide as publishing 'a cracking set of figures... he even leaves superstar Sean Fitzpatrick's Anglo Irish standing'^[15] ' and in another column dismissed shareholder critics of Fingleton, notably Brendan Burgess^[16] and contrasted the small shareholder rebellions of eircom, Smurfit and First Active with that of the INBS, whose CEO, he claimed 'despite all his abrasiveness, was delivering small riches to them',^[17] Ross dismissed the corporate governance concerns of Fingleton's critics writing 'for all his faults, has delivered the only thing that matters in business: profit'.^[17] In his article on Pernod Ricard executive Richard Burrows' appointment as the Governor of the Bank of Ireland, Ross claimed it was mainly due to Burrows' social status as a 'toff' and criticized the bank for not even interviewing the 'far too dynamic'Sean FitzPatrick, then CEO of Anglo Irish Bank.^[18] In 2007, Ross praised Sean Quinn's purchase of a stake in 'anti-establishment Anglo Irish Bank' and referred to Quinn as 'this genius... [who] has combined being a champion of the customer with making a mint',^[19] describing Quinn Direct as 'the most successful insurance business in Ireland'.

Anglo Irish Bank revelations[edit]

In April 2008, Ross revealed^[20] that a group of Anglo customers were planning to launch a leveraged fund to buy Anglo shares in order to 'squeeze' the Anglo 'short sellers' whom Ross blamed for the collapse in the Anglo share price. Ross had been briefed by a member of the group and quoted him saying “We are going to teach the brokers and hedge funds that damaged the bank a salutary lesson... They will come out of this with their fingers burned”,^[20] the episode became known as the Maple 10 and cost Anglo and ultimately the taxpayer €451 million.^[21] As leverage for the Anglo share purchase was provided by Anglo this coordinated action would have constituted market abuse.^[22]

Ross was also a trenchant critic of the under-performance of the Irish Pension Funds, and contrasted their performance with the SVM Global's Saltire Fund, the hedge fund which he chaired,^[23] however, in 2013, the Saltire Fund revealed a large loss of 32.4% during a period in which global stock markets had gained 17.7%.

Campaigning and political activism[edit]

In the aftermath of the voters' rejection of the Lisbon Treaty in its first referendum in June 2008, in spite of support for the treaty by the major political parties, Ross highlighted the 'disconnect' between the ruling caste of the nation's politicians and the democratic will of the public.^[24]

In January 2009, he took the Central Bank of Ireland and Ernst & Young to task for their failings leading up to the nationalisation of Anglo Irish Bank,^[25] In his capacity as Senator, Ross pressed Allied Irish Bank executives on the bank's fraudulent offshore dealings involving subsidiaries and Caribbean front operations, charging that the only party to be disciplined in the affair was the whistleblower who brought it to light and forcing from the bank's CEO Eugene Sheehy, the admission that the institution may have been in breach of the Companies Act.^[26] He authored an account of the Irish financial crisis later that year – The Bankers: How the banks brought Ireland to its knees.^[27] In October, of that year, Ross drew the ire of the public transport company CIÉ for publicising charges of widescale fraud and mismanagement within the semi-state organisation.^[28] He has criticised government inaction in voicing concerns about the Sellafield nuclear plant,^[29] and has called for stronger legal protection for whistleblowers in cases of fraud and corruption.^[30]

For his investigation into waste at the state training agency FÁS pursuant to the FÁS expenses scandal, Ross was recognised by his peers as the 2009 Journalist of the Year. Ross is frequently featured as a source by international news media,^[31][32] and has been cited as 'one of Ireland's foremost financial commentators' by the Associated Press.^[32]

Dáil Éireann[edit]

On 15 January 2011, during the course of a television interview Ross announced that he would stand as candidate at the 2011 general election, running in the Dublin South constituency.^[33] He had refused an offer to run for the resurgent Fine Gael party and become an 'insignificant backbencher', and was determined instead to stand as an Independent candidate, declaring: 'I think you're going to see in this election a huge number of similar independents who want to put an end to cronyism, who want to see a change in the political system, who want to put an end to Civil War politics in Ireland, who want to see an end to the kind of tribal politics we've got, who are going to stand in the election as well'.^[34][35]In the general election campaign Fine Gael TD Alan Shatter, attacked Ross,^[36] saying the Senator 'was a cheerleader for Sean FitzPatrick and Michael Fingleton' and had 'reserved his criticism of bankers for AIB and Bank of Ireland and celebrated the enormous profits earned by Anglo and Nationwide'.^[37] In the election Ross got the second highest vote in the country, when he polled 17,075 votes in Dublin South to head the poll.^[38]

In April 2011, Ross claimed the Government was “wearing the clothes of the last government of Brian Cowen” in its economic policy. He asked why senior bondholders had to be treated in the same way as depositors. “They are completely different creatures,” he said. “Senior bondholders go out there and take a risk and make an investment.” Ross claimed that Enda Kenny’s greatest cheerleaders in his policy were in Fianna Fáil. “The support is coming from the last government,” he added. “And very few people can see the difference, if there is any, between this government and the last government in its attitude to the banks.” Ross accused the Government of completely and utterly surrendering to the IMF and the EU. “They know that, we know that . . . everybody knows that,” he said. “Default, apparently, is the word which cannot be mentioned in this chamber.”^[39]

In February 2013, Ross spoke in the Dáil against water fluoridation, referring to a Hot Press article he cited Declan Waugh^[40] whom he called 'a well known scientist' and claimed fluoridation was the cause of Ireland's 'high rates of cancer, cardiovascular disease and diabetes'. He also claimed that Ireland had double the incidence of Down's syndrome of Northern Ireland as a result.^[41]

In 2015, Ross co-founded the Independent Alliance.^[42]

Ministerial career[edit]

At the 2016 general election, he topped the poll in Dublin Rathdown, and was elected.^[43] Then Taoiseach Enda Kenny, nominated him as Minister for Transport, Tourism and Sport in May 2016.^[44] Ross's apparent lack of knowledge of sports in multiple disciplines has been repeatedly observed, however.^[45] He tweeted, 'Go Katie go!', shortly after Finnish boxer Mira PotkonenknockedKatie Taylor out of the 2016 Summer Olympics.^[46] A few days later, after Thomas Barr twice broke the Irish record on his way to finishing fourth in the final of the men's 400 metres hurdles at the same Olympics, Ross instead congratulated a mysterious 'Thomas Barry'.^[47] During the 2016 Summer Olympics ticket scandal, Ross arrived back from visiting the arrested Olympic Council of Ireland boss Pat Hickey in Rio de Janeiro with a duty-free plastic bag astride his trolley.^[48] Following the Ireland national rugby union team's 2018 Six Nations ChampionshipGrand Slam, Ross tweeted a photograph of himself alongside Ireland players Johnny Sexton and Rob Kearney; the photograph's caption stated, 'Congratulations and welcome home this evening to superstars Johnny Sexton and Dave Kearney'. Rob Kearney responded to Ross's error by tweeting: 'You're welcome Leo', followed by a winkemoticon.^[47] In May 2018, Ross tweeted that he was 'delighted to confirm' that a fee-paying school, Wesley College (located in his constituency), would be given a grant of €150,000 to resurface its field hockey pitch.^[48] Ross was then criticised for announcing increased funding for the Ireland women's national field hockey team following their second place finish at the 2018 Women's Hockey World Cup in August 2018, the timing being seen to indicate a publicity stunt on Ross's part.^[47] The following month, a statement from Ross congratulated a 'Dominant Puspure' after her gold medal at the 2018 World Rowing Championships.^[47] In mid-November 2018, Ross tweeted a photograph of himself inside the stadium celebrating the Ireland rugby union team's victory over the All Blacks in Dublin; the photograph portrayed his tie poking through an open trouser fly.^[46] During a radio interview on Newstalk on 30 November 2018, Ross displayed a lack of knowledge of association football; initially crediting the goalkeeper Shay Given with having scored the winning goal against Germany in UEFA Euro 2016 qualifying in October 2015, Ross corrected himself and credited Given with the assist and Shane Long with the goal. The problem, which was not corrected during the interview, was that Given had gone off injured after half an hour and it was his replacement, Darren Randolph, who had provided the famous assist. During the same interview Ross congratulated a 'Shane Kenny^{[disambiguation needed]}' on being appointed manager of the Republic of Ireland national under-21 football team, with the intention of being promoted to the senior job after UEFA Euro 2020.^[46][47]

Publications[edit]

• Ross, Shane (2009). The Bankers: How the banks brought Ireland to its knees. Dublin: Penguin Ireland. ISBN978-1-84488-216-8.
• Ross, Shane; Nick Webb (2010). Wasters. Dublin: Penguin Ireland. ISBN978-1-84488-251-9.
• Ross, Shane; Nick Webb (2012). The Untouchables. Dublin: Penguin Ireland. ISBN978-1-84488-277-9.

References[edit]

1. ^'Shane Ross'. Oireachtas Members Database. Retrieved 20 March 2010.
2. ^'Seanad Éireann Debate, Vol. 212 No. 10, Order of Business'. Houses of the Oireachtas. 12 January 2012. Retrieved 3 February 2012.
3. ^'Miriam meets'. RTÉ Radio 1. 15 August 2010. Retrieved 3 February 2012.
4. ^ ^ab'Shane Ross'. ElectionsIreland.org. Retrieved 20 March 2010.
5. ^'Seanad prize for minister's man'. Irish Independent. Dublin. 13 September 2007. Retrieved 3 February 2011.
6. ^'Top of the agenda. Shane Ross'. Irish Independent. 24 November 2012.
7. ^'Don't blame me, I'm the minister'. Irish Independent. 13 May 2007.
8. ^http://www.shaneross.ie/were-not-on-obamas-radar/
9. ^ ^ab'NTR AGM hears barrier-free tolls call'. RTÉ. 27 May 2005. Retrieved 2 February 2011.
10. ^'Eircom's net loss at Ebeon'. Irish Independent. 24 November 2012.
11. ^'NRA accused of causing confusion to nation's drivers'. Belfast Telegraph. 29 August 2008. Retrieved 2 February 2011.
12. ^Tighe, Mark (30 August 2008). 'The bell tolls for the M50's 'hated' barriers'. The Sunday Times. London. Retrieved 2 February 2011.
13. ^'Smurfit AGM is a chance to get answers'. Irish Independent. 13 May 2007.
14. ^'Top of the Agenda - Shane ross'. Irish Independent. 24 November 2012.
15. ^'Fingers sidelines a sorry Soden'. Irish Independent. 24 November 2012.
16. ^http://www.askaboutmoney.com/showthread.php?t=156055
17. ^ ^ab'Fingleton's little people savage rebels'. Irish Independent. 24 November 2012.
18. ^'Ahoy, a toff at helm of BoI'. Irish Independent. 24 November 2012.
19. ^http://www.shaneross.ie/sean-quinn-we-salute-you/
20. ^ ^ab'Anglo Irish clients plan €500m revenge fund'. Irish Independent. 26 November 2012.
21. ^http://namawinelake.wordpress.com/2011/11/16/maple-10-the-anglo-golden-circle/
22. ^'Anglo fraud probe could result in first market abuse case'. Irish Independent. 30 November 2012.
23. ^'Archived copy'. Archived from the original on 2013-06-07. Retrieved 2013-04-30.CS1 maint: Archived copy as title (link)
24. ^'Lisbon result poses question for EU'. RTÉ. 13 June 2008. Retrieved 2 February 2011.
25. ^Ross, Shane. 'Where Were The Auditors'. shane-ross.ie. Archived from the original on 13 February 2012. Retrieved 20 March 2010.
26. ^'AIB chief pressed on Goodbody issue'. RTÉ. 21 May 2009. Retrieved 2 February 2011.
27. ^Ross, Shane (2009). The Bankers: How the banks brought Ireland to its knees. Dublin: Penguin Ireland. ISBN978-1-84488-216-8.
28. ^'Iarnród Éireann rejects Ross criticism'. RTÉ. 29 October 2011. Retrieved 2 February 2011.
29. ^'Court hears MOX economic justification flawed'. RTÉ. 8 November 2001. Retrieved 3 February 2011.
30. ^Walsh, Jimmy (3 June 2010). 'Callely says he will co-operate with inquiry into expenses'. The Irish Times. Dublin. Retrieved 3 February 2011.
31. ^Brown, Rachael (1 October 2010). 'Ireland reveals full horror of banking crisis'. ABC News. Sydney. Retrieved 3 February 2011.
32. ^ ^abPogatchnik, Shawn (11 February 2009). 'Irish banking scandal widens'. The Star. Toronto. Associated Press. Retrieved 3 February 2011.
33. ^'Shane Ross to stand in General Election'. RTÉ News. 17 January 2011. Retrieved 2 February 2011.
34. ^1 Minihan, Mary; Fitzgerald, Mary (17 January 2011). 'Ross to run as independent in Dublin South'. The Irish Times. Dublin. Retrieved 2 February 2011.
35. ^Minihan, Mary; Pat Flynn (13 January 2011). 'Fine Gael urges Ross to contest election'. The Irish Times. Dublin. Retrieved 2 February 2011.
36. ^Shane Ross, Alan Shatter, Dublin South and the banks
37. ^http://www.businesspost.ie/#!story/Home/News/Shatter+critical+of+Ross+election+claims/id/9631e289-f484-4ed9-9fc5-c30e24b15eac
38. ^Byrne, Andrea (2011-02-27). 'The Rosser romps home'. Irish Independent. Retrieved 2011-02-28.
39. ^O'Regan, Michael (6 April 2011). 'Different coalition, same banking policies, says Ross'. The Irish Times.
40. ^'Declan Waugh'.
41. ^'Dáil Éireann debate - Wednesday, 27 Feb 2013'. Oireachtas.ie.
42. ^'Feargal Quinn to announce he is to join Independent Alliance'. The Irish Times. 29 June 2015.
43. ^'Constituency: Dublin Rathdown'. Irish independent. 2016-02-27. Retrieved 2016-02-27.
44. ^McCarry, Patrick (6 May 2016). 'Ireland reacts with shock, comedy and GIFs as new Minister for Sport unveiled'.
45. ^Healy, Martin (19 October 2018). 'A brief history of minister Stephen Ross's many sporting blunders'.
46. ^ ^abcMoran, Barry (30 November 2018). 'Footie clangers: Gaffe-prone Sports Minster Stephen Ross makes number of blunders while discussing Irish football live on radio'.
47. ^ ^abcde'Minister Stephen Ross makes a number of gaffes while talking sport during radio interview'. Irish Independent. 30 November 2018.
48. ^ ^abMullally, Una (24 September 2018). 'Gaffes and more gaffes: Stephen Ross's star is fading fast'. The Irish Times.

External links[edit]

• Shane Ross at the Sunday Independent