U2 Tops Rock’s Richest List

Lady Gaga, Beyonce, AC/DC also make biggest paydays

By Chris Barth, Rolling Stone Magazine

U2's massive 360° Tour has helped propel the band to Number One on Forbes' annual report on top-earning musicians. Bono and Co. scored the top spot on the list by netting $130 million in the past 12 months. They're followed by AC/DC -- who just wrapped their 108-city Black Ice world tour on June 28th -- with $144 million. Beyoncé, Bruce Springsteen and Britney Spears round out the Top Five.

Forbes calculates rockers' earnings based on net income from ticket sales, record sales and endorsement deals between June 2009 and June 2010. Unsurprisingly, album sales didn't drive most artists to the top of the list -- giant tours and strategic corporate team-ups were responsible for most of the profits. Lady Gaga is the youngest performer in the Top 10, bringing in $62 million to score her first-ever appearance on the list thanks partially to partnerships with Polaroid, Virgin Mobile and Monster, who puts out her Heartbeats ear buds. Gaga just edged out Madonna, who has made the countdown for the past four years and raked in major cash last year on her giant Sticky & Sweet Tour.

Power couple Beyoncé and Jay-Z both appear in the Top 10 individually, although Beyoncé out-earned her husband by $24 million last year. Kenny Chesney is the highest-ranked country musician on the list at Number Nine, earning $50 million dollars.

U2's 360° Tour requires $750,000 a day in overhead, but the giant show earned the band $311 million in gross box office receipts in 2009 alone. The band was recently forced to postpone the summer leg of the trek to spring 2011 due to Bono's back injury, which required surgery. Other touring woes may have an effect on the list next year considering this summer has been especially cruel on live acts. "In today's world artists have to tour to make money," Pollstar editor Gary Bongiovanni told Forbes. "They can't just sit at home and collect their royalties and expect to make their mortgage payments."

Copyright 2010 Rolling Stone

Clayton ‘couldn’t be bothered’ to read bank statements

Mary Carolan, The Irish Times

U2 GUITARIST Adam Clayton gave his former personal assistant Carol Hawkins full authority to operate his bank accounts but "couldn't be bothered" over a period of about four years to read bank statements which would have suggested he was "haemorrhaging" a huge sum of money, the Commercial Court was told yesterday.

Michael McDowell SC, for Bank of Ireland Private Banking Ltd, said Clayton seemed to think the bank should have noticed more than €4 million was missing from his accounts between 2004 and 2009 when he had not.

Clayton was "putting the cart before the horse" in trying to fast-track this "derivative" case against the bank and his accountants when his separate action against Ms Hawkins had yet to be heard, Mr McDowell said.

Clayton also decided to keep Ms Hawkins on after she confessed in September 2008 to misappropriating "about €15,000" but it was not even suggested there was any effort by him to notify the bank of that.

Paul Sreenan SC, for Clayton, said his client's claim related to the duties owed by bankers to their professional clients.

This "substantial fraud" had emerged in October 2009 when the bank rang up to say some of the transfers on Clayton's account were "unusual", Mr Sreenan added. If the bank had spotted it earlier, his loss "might have been a lot less". Mr Sreenan said the €15,000 which Ms Hawkins confessed to misappropriating was much less than the actual amount and Clayton could not be faulted for relying on the bank and his accountants.

It is claimed the sum misappropriated was about €4.3 million in October 2008, while a further €450,000 was misappropriated up to October 2009.

Clayton, Danesmoate Demesne, Kellystown Road, Rathfarnham, Dublin, is suing Bank of Ireland Private Banking Ltd and Gaby Smyth Co, chartered accountants, Merrion Road, Ballsbridge, Dublin.

He is claiming €4.38 million damages and €4.8 million damages respectively against the defendants for alleged negligence and breach of contract arising from the alleged misappropriation by Ms Hawkins of more than €4.8 million.

Clayton last year initiated separate proceedings in the High Court against Ms Hawkins, Crannagh Road, Rathfarnham, Dublin, which have yet to be heard, in which he claims an apartment was bought in New York with his money and some €900 a month was spent on a syndicate which maintained horses.

Mr Justice Peter Kelly refused an application by Clayton to fast-track into the Commercial Court the proceedings against Bank of Ireland private banking and Gaby Smyth Co.

The case will instead go ahead in the High Court.

© 2010 irishtimes.com

U2′s Bono risks millions on ethical fashion line

By Buzz Brady, Irish Central

Bono and his wife Ali Hewson may be at risk of losing million as their ethical clothing change, Edun, continues to lose money.

At the end of last year Bono, and his wife of 28 years, Ali, moved their family from Dublin to New York to help launch the ethical clothing line based in Tribeca, Manhattan.

Ali has now revealed that the business has so far failed to make a profit.

"It hasn't made money -- it hasn't made a profit yet," said Ali. "But it's growing. It's growing.

"The first five years of the company is about putting money in and building the trade. So of course we had to support it. We're still here supporting it now, because we believe in it."

In fact the Hewson family believed so entirely in the project that they all moved to New York to be closer to the day to day running of the business.

"I've been seeing how the operation was being upgraded on a daily, weekly basis," she said.

"It's been amazing to see how far it has come in six months.

In 2005 Bono, Ali and fashion designer Rogan Gregory founded the fashion line. However, Ali says that the mission to increase employment in developing regions of Africa has overshadowed the company itself.

Over the years Bono has endured some criticism for his constant involvement in charity campaigns. His critics feel that his methods are a little preachy and that he's over exposed in the media. However Ali defends his ongoing charity activism.

"He's always known, if you want to get anything done you've got to stand in the firing line sometimes...He doesn't do it for the warm fuzzy feelings. He does it to actually bring some change about, and highlight issues that were being pushed under the carpet. And he does it very effectively.

"Bono will say to you, 'I'm sick of Bono, and I am Bono'."

Just three years ago Edun had $3.6 million in bank loans and owes it's three shareholders $7.9 million.

Ali feels that the situation for the company can only get better as the Hewson's partnered up with LVMH, who owns Givenchy, Moet & Chandon, Louis Vuitton, Fendi and Christian Dior.

Edun's plans to have a line of clothing ready for the soccer World Cup this summer designed but children in the slums in Nairobi.

© Copyright 2010 IrishCentral LLC. All rights reserved.

U2 tower now ready for Elevation

Irish Independent,

After years of planning, wrangling and rowing, it finally looks like the landmark U2 tower is finally set to get off the ground. Plans for the Liffey highrise remain on course even though a formal agreement with the developers has still not been struck.

The Dublin Docklands Development Authority (DDDA) said negotiations between it and the preferred bidders -- a consortium including U2 members -- "are due to be completed shortly."

The DDDA expects "construction of the tower to begin by the end of this year or early next year," a spokesman said.

Geranger Ltd. was chosen by the DDDA as the preferred bidder for the €200m project on Britain Quay in October, beating off competition from Sean Dunne's Mountbrook Homes.

Geranger, a consortium consisting of Ballymore Properties, developer Paddy McKillen and the members of U2, plans to build a skyscraper soaring 60m higher than the Spire.

ENERGY

The scheme contains a design for an egg-shaped recording studio suspended beneath a battery of vertical wind turbines and a huge solar panel at the top. This "energy centre" will raise the overall height from 130 metres to 180 metres.

The Geranger project, a tilted triangular tower designed by Foster & Partners, will include a public viewing platform offering panoramic views over the city and Dublin Bay.

This will be located just below U2's "pod" studio, which will be separated from the structure for acoustic reasons.

Norman Foster's practice is best known for the Swiss Re or "Gherkin" tower in the city of London.

DDDA director of architecture John McLaughlin said that the Foster scheme "had the edge because its public spaces were really well handled" and it provided a gateway to a bridge over the Dodder where it joins the Liffey.

In addition to the tower, which will largely comprise luxury apartments, the scheme includes a five-star hotel in a flanking building, and a block of 34 social and affordable apartments.

© 2008 Irish Independent.

U2 tower now ready for Elevation

Irish Independent,

After years of planning, wrangling and rowing, it finally looks like the landmark U2 tower is finally set to get off the ground. Plans for the Liffey highrise remain on course even though a formal agreement with the developers has still not been struck.

The Dublin Docklands Development Authority (DDDA) said negotiations between it and the preferred bidders -- a consortium including U2 members -- "are due to be completed shortly."

The DDDA expects "construction of the tower to begin by the end of this year or early next year," a spokesman said.

Geranger Ltd. was chosen by the DDDA as the preferred bidder for the €200m project on Britain Quay in October, beating off competition from Sean Dunne's Mountbrook Homes.

Geranger, a consortium consisting of Ballymore Properties, developer Paddy McKillen and the members of U2, plans to build a skyscraper soaring 60m higher than the Spire.

ENERGY

The scheme contains a design for an egg-shaped recording studio suspended beneath a battery of vertical wind turbines and a huge solar panel at the top. This "energy centre" will raise the overall height from 130 metres to 180 metres.

The Geranger project, a tilted triangular tower designed by Foster & Partners, will include a public viewing platform offering panoramic views over the city and Dublin Bay.

This will be located just below U2's "pod" studio, which will be separated from the structure for acoustic reasons.

Norman Foster's practice is best known for the Swiss Re or "Gherkin" tower in the city of London.

DDDA director of architecture John McLaughlin said that the Foster scheme "had the edge because its public spaces were really well handled" and it provided a gateway to a bridge over the Dodder where it joins the Liffey.

In addition to the tower, which will largely comprise luxury apartments, the scheme includes a five-star hotel in a flanking building, and a block of 34 social and affordable apartments.

© 2008 Irish Independent.

Temple Bar chief backs U2 plan for Clarence

By Colin Bartley, Independent.ie,

THE architect at the centre of the 1990s regeneration of Temple Bar yesterday said if ambitious plans like those for U2's Clarence Hotel were on the table back then he would have backed them.

James Howley, who oversaw much of the regeneration of the cultural centre of Dublin, told a hearing of An Bord Pleanala into plans to transform the Clarence site: "It is important to understand the meaning and essence of the term conservation, which is often mistakenly confused with those of preservation."

Mr Howley came out strongly in favour of the project and said: "None of the six buildings on the site is of high architectural merit, neither in external appearance nor interior design."

The conservation of the hotel was the main focus of discussions at the third day of the hearing, when final oral submissions were heard. Meanwhile opponents argued that the plans amount to the demolition of the listed hotel.

Proponents of the plan said four of the six buildings were not listed in the original Temple Bar regeneration plans of 1985 and were only added as protected structures in the plan of 1999-2000.

The proposed development by the Clarence Partnership, whose members include U2's Bono and The Edge and renowned hoteliers David Quinlan and Paddy McKinley, would see the hotel expand from 44 rooms to a 141-room, eight-storey hotel at a cost of €150m.

Rooftop

The ambitious plan includes a rooftop garden and innovative sky-catcher light well, housed in an ellipse, which will see the height of the hotel rise over two metres above its current height.

Mr Andrew Bowe, representing the designer, world renowned architect Norman Foster, said the increase in height would soften the views of the Liffey skyline, where at present only certain buildings are visible, such as the Central Bank and the Four Courts.

Mr Bowe's presentation stated that cities constantly change and there is heritage value in the Clarence Hotel proposal. He said it would be the most sustainable hotel in Europe due to its design, which means it will be naturally ventilated, lit and heated.

He added that because of its owners and its location, it would create its own heritage in the future. Opponents of the plans were adamant that the structure of the building should remain, and argued what they see as the demolition of the buildings should only happen in exceptional circumstances.

- Colin Bartley

Copyright © 2008 Independent.ie.

Bono’s huge hotel plans

Rocker Bono wants to spend a staggering $237.2 million turning the hotel he owns in his native Dublin, Ireland into a spectacular city resort.

The U2 frontman and bandmate The Edge bought the 156 year old Clarence Hotel in 1992.

Now the pair have hired award-winning architect Sir Norman Foster to draw up plans for a spectacular overhaul of the 49-room hotel - with designs which include a glass atrium in the shape of a Viking long boat.

The plans have been passed by the city council, but have been met with opposition from locals, who object to the partial demolition of several historic local buildings.

Bono and The Edge will have to appear before a planning board in the next week.

A source tells the New York Post, "This meeting, like the hotel project, is very important to him and he is in Dublin to make sure everything goes well."

Copyright © 2008 World Entertainment News Network.

Dublin split over the U2 Tower

2.29.08_tn.jpg

Dubliners like a good debate and a recent hot topic of discussion has been the U2 Tower, the development in the city's docks area that has earned its nickname through the involvement of Bono and other members of the Irish rock band.

Paul Shearer, Times Online

Prices have been falling across most of Ireland, but in the capital developers have not lost their appetite for looking skywards. Dublin, the argument runs, is suffering from urban sprawl. Traffic is clogging up and polluting the city and surrounding suburbs. The city council says that it has been losing tax revenue as business park and retail developments have been built outside the city. So the developers' solution is to build tall in the city centre - a decision that has caused considerable local controversy, as similar schemes have done in London.

Last October Geranger, a consortium consisting of Ballymore Properties, Patrick McKillen and August Partners (representing U2 band members and management), were selected by the docklands authority as provisional preferred bidders for the U2 Tower, which will have a recording studio for the band at the top. Foster & Partners, the consortium's architects, have proposed a 130m (430 ft) mixed-use tower on the landmark site at the meeting point of the River Liffey, the River Dodder and the Grand Canal. This scheme replaced a proposal for a 60m tower; some were annoyed that the first scheme was so unceremoniously dropped in favour of the Foster design. On the other side of the river, another 100m-plus structure is planned, the Point Village Watchtower, which will combine with the Foster tower to create a gateway.

Geranger hopes to achieve preferred bidder status in the near future, once it has submitted more detailed plans that should clarify the height of the building and the status of the U2 studio, a suspended egg-shaped pod. A spokeswoman for Ballymore said that the consortium is anticipating starting work on the building within the next 12 months. But there are those who do not see this as a positive development.

Ian Lumley, of An Taisce, the National Trust for Ireland, says: “We were very happy with the original 60m proposal and don't see the need for these megalomaniac schemes. The previous plan was very harmonious and these new proposals threaten to undermine the good relations that have been built up in the area between residents and developers.” The trust's view is that developers overpaid for the land and are trying to recoup the cost by building higher. It queries whether the U2 Tower scheme has had a proper environmental impact assessment.

Dublin City Council recently published a consultation document, Maximising the City's Potential, which addresses the issue: “High buildings have a part to play as ... high-density clusters with significant capacity to promote urban regeneration and increase Dublin's competitive edge.”

An Taisce has plans to table a strongly worded objection. “These proposals threaten to destroy one of the last great low-rise European city centres,” Lumley says.

The trend for high-rise is not confined to the historic centre of Dublin. In June last year the developer Sean Dunne submitted plans for the seven-acre Jurys Berkeley Court site in the smart neighbourhood of Ballsbridge. These included a 37-storey, 132m tower as the centrepiece: its architect, Ulrik Raysse, described it as “cut like a diamond”. The plans, however, cut no ice with planners: after vociferous local opposition, they requested further details from the developer. These were submitted in January; the council is due to reply by next week.

Fact file

The Dublin Docklands Development Authority, established in 1999, has its own special planning zone, and it has not been reluctant to flex its planning muscle to bring internationally renowned architects to the regeneration project of the docks. The Irish architect Kevin Roche is building a €400 million (£301 million) convention centre, Studio Libeskind is building a 2,000-seat theatre, and there will be a five-star hotel designed by the architect Manuel Aires Mateus. Other reputed architects have been building bridges across the dock - the Catalan designer Santiago Calatrava is working on the delightfully named Samuel Beckett Bridge.

The Numbers

Stamp duty in Ireland was reformed last year. Seven rates were replaced with two: a 7 per cent levy on properties from €125,000 (£94,000) to €1million, and a 9 per cent rate above €1million.

The average price for a two-bed flat in Co Dublin is €405,986, down 1.96 per cent in the last quarter of 2007. The average three-bed semi is €512,657, down 1.13 per cent (www.myhome.ie ).

The number of new-build homes in Ireland is set to fall by almost a third, from nearly 90,000 in 2007 to 50,000-60,000 in 2008 (www.lisney.com ).

© 2008 Times Newspapers Ltd.

Bono’s Dublin Hotel Plan Pits Rocker Against Preservationists

By Dara Doyle

Feb. 21 (Bloomberg) -- U2's Bono helped persuade George W. Bush and Tony Blair to increase African aid and cancel a portion of Third World debt. Ireland's most famous rock star is finding it harder to charm Dublin preservationists as he seeks to expand the 177-year-old Clarence Hotel.

The singer failed to win over opponents with several bottles of wine and lunch at the Clarence in September, said Michael Smith, former chairman of An Taisce, an independent planning watchdog. The 150 million-euro ($220 million) project would triple the hotel's size and top it with a panoramic glass bar.

"The Clarence demolition is an old-fashioned money-driven, anti-environmental exploit," said Smith, 42, who attended the lunch. "Bono is behaving like just another private-jet-addicted property speculator feeding on Ireland's greedy zeitgeist."

It's the latest controversy to entangle the U2 front man, who has worked with governments and corporations to fight AIDS and reduce poverty. Members of the Irish parliament criticized U2 for moving its music publishing company to the Netherlands to avoid taxes in 2006. The band is also behind a new skyscraper called the U2 Tower, which some neighbors call an eyesore.

Bono, whose name at birth was Paul Hewson, bought the 49- room hotel in 1993 with U2 guitarist David Evans, better known as The Edge. The renovation involves tearing down four adjacent Georgian buildings, gutting the hotel and expanding it to 140 rooms.

`Discredited' Design

While critics liken the sky bar to landing a spaceship atop the Clarence, manager Oliver Sevestre said the project was approved in part because it would make the hotel a landmark in Dublin's Temple Bar district. The plans were developed by British architect Norman Foster, perhaps best known for the gherkin- shaped London tower he designed for Swiss Reinsurance Co.

"It's a great asset to sell Dublin and the country," Sevestre said during an interview in the Clarence's 2,700-euro-a- night penthouse suite.

Located on the River Liffey and enclosed by fragments of Dublin's 12th century city walls, Temple Bar is filled with art galleries and pubs.

Foster's architects say preserving the exteriors and salvaging the original fireplaces, windows and doors will retain the essence of the Clarence. That was rejected by the Dublin City Council's conservation architect, Clare Hogan, who called the plan to keep the exteriors alone a "discredited and meaningless" act of historical preservation.

Clinton's Hotel

Nonetheless, city officials approved Foster's plan in November, saying the hotel facelift would help Dublin's economy and therefore justify tearing down protected buildings.

Though the Clarence has attracted guests such as former U.S. President Bill Clinton, it may not have been the band mates' wisest investment.

While the hotel made an operating profit of 148,800 euros in 2006, investors wrote off 9.04 million euros of loans that year, accounts filed in Dublin show. In 2005, the hotel reported a loss of 575,000 euros. The renovation plan is also backed by Clarence investors Paddy McKillen and Derek Quinlan, two Dublin property developers.

"I would say we are making sense financially," Sevestre said. "It is difficult to make more sense financially because the size of the hotel means we can't maximize the price that we charge each night."

It's that pursuit of profit that has left U2 open to criticism. The band is also backing a 120-meter (394-foot) tower in the Dublin's docklands. The U2 Tower, to be completed in 2011, would be the city's tallest building.

"Taken together, these are two egomaniacal projects," said Ian Lumley, a spokesman for An Taisce.

Art Vs. Commerce

Some back Bono and Foster's vision for the hotel.

Conor Martin, who controls the Purty Loft bar opposite the hotel, withdrew his opposition after he was persuaded the project would benefit the city.

"It is a poor reflection on Dublin and the rest of the country if we turn it down," he said in a letter to city officials.

Bono, who wasn't available for an interview, has said there's no conflict between his activism and investments.

"I long since grew out of the idea that artists good, businessmen bad," Bono said Jan. 24 at the World Economic Forum's annual meeting in Davos, Switzerland. "I got over that one when I was 22."

Smith is taking the Clarence fight to the planning appeals board, which is expected to issue a decision within four months.

Seasoned Campaigner

He is a tenacious opponent. In 1995, angered by what he said was the cozy relationship between politicians and developers, Smith placed a newspaper ad offering a 10,000 Irish-punt ($18,579) reward for information leading to corruption convictions.

Though the reward was never paid, the campaign triggered a 10-year probe of bribery allegations, leading to the current investigation of Prime Minister Bertie Ahern's finances. Ahern denies any wrongdoing.

Even after lunch with his "perfectly gracious" host, Smith is carrying on the fight against a man who once gave Pope John Paul II a pair of wraparound sunglasses.

"If assessed for good old-fashioned rock star glamour, this proposal is a success," Smith said in his written appeal against the project. "Unfortunately for the owners, the Clarence is not a pair of sunglasses."

© 2008 Bloomberg L.P. All rights reserved.