U2NEWS: July 19 1998 Part III


Who needs bathrooms? ([email protected])
Sun, 19 Jul 1998 12:41:10 -0600


Condensed from ATN:

INXS Manager Vows Band Will Carry On

Denies reports that they will change their name and confirms that members are
working on solo projects.

Senior Writer Gil Kaufman reports:

At least that's what the group's New York-based manager [Martha Troup]
said Tuesday after a recent, lengthy conversation with the band's members.

One project that Troup insisted was too premature to discuss was a tribute
concert for Hutchence, an event that Tim Farriss also mentioned in the Australian
interview. "It might happen," Troup said, "but it would be more like a celebration
of his life and not a tribute.It's very premature to talk about it. It could be
next year, it could be five years from now."

Shawn Deacon, who worked as INXS' publicist during their career, said letters
of invitation to such a celebration concert had been sent out to such major artists
as Elton John, Tom Jones, Iggy Pop, David Bowie, U2's Bono and Duran Duran's
Simon Le Bon. However, Troup, who said Deacon no longer works with INXS,
denied that any such invitations had been mailed.

"No letters have been sent out to any singers," she said. "Various people have
approached me and said if we did it they would love to be involved, various
musicians and technicians, but nothing has been arranged yet."
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Okay, a lot of you know how much I hate advertising. But keeping
this page intact has cost me a bit of $$. So....here's this weeks poll
question.

"Should Prarit put advertisements on this page?"

There are four possible answers.

1. No. Period. Advertisements suck.
2. No, well.....if they're really unobtrusive. I don't want to have to
    load a huge banner every day.
3. Yes, but limit your banners to two -- one on the top of the page,
    and one on the bottom of the page.
4. Yes. Go ahead. It's your page, and I'm only here to see the naked
    babe picture you have hidden behind Homer's tummy on the intro
    page...
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This weeks poll was "How many U2 fans does it take to screw in
a lightbulb?"

The results are:

66% Only one--Bono. He just holds the lightbulb, and lets the world
revolve around him.

14% Uh...what's a lightbulb?

10% 1,000,001 : One to hold the lightbulb, and a million to turn the
planet.

10% Two, but you have to jam them in there really tight.
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>From Cybersleaze:

VIVE LA FRANCE!!!: Raise your hand if you are jealous
of all of the people partying their asses off in Paris right
now in celebration of France's victory in the World Cup
yesterday. The sexy Gallic squad beat 1994 World Cup
champs Brazil 3-0 in an incredibly exciting match. I must
admit that I was routing for the Frenchies (Allez France!)
myself and was thrilled to see the underdogs take the
trophy. That Brazilian team was just a tad too cocky about
winning the whole thing and it was getting to be a big
turn-off. If you are going to be THAT confident about
winning then you better make sure you bring your offense
with you. Ha ha!!! On the celeb fan front, we hear that U2
singer BONO and his wife ALI joined STING and his
oh-so-annoying wife TRUDI STYLER to attend the final
game. Bono and wife interrupted their summer holiday in
France and even left their kiddies MEMPHIS and JORDAN
at home in order to sip champagne and enjoy the riveting
game free of distractions.
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Wall of Sound has an article in their news section on the U2/
Kilkenny situation. It's essentially a re-hash of the other Kilkenny
articles contained in this week's U2NEWS.

(Prarit's note: I'm opposed to calling this a split. It seems that
Kilkenny will be still auditing the bands accounts and still has several
business ventures with the band).
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Condensed from The Irish Times:

Sorrento House bought by Irish-born tycoon

By Orna Mulcahy

It wasn't Jack Nicholson, it wasn't George Michael, and it wasn't
U2. No, the person who paid £5.9 million for Sorrento House in
Dalkey is Terry Coleman, a 54-year-old car alarm and mobile
phone multi-millionaire based in the UK. There were two bidders
during the nail-biting auction on June 30th. Mr Coleman was
pushed all the way to £5.9 million by another very determined
bidder, the chairman of Allied Irish Bank, Mr Lochlann Quinn,
brother of Labour Party leader, Mr Ruairķ Quinn.

Mr Coleman is an Irish-born businessman who spends most
weekends in Ireland. He was impressed by Sorrento House, not
just because of the view, but because of the 1.5-acre gardens,
which provide more than enough space for a heli-pad.
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Condensed from The Irish Times:

Awards of up to £17,500 made in garda claims

A Dublin garda who was headbutted when he went to arrest a
man alleged to be stealing baseball caps from U2 fans was
awarded £16,500 compensation at the High Court yesterday.

Mr Justice Budd dealt with a number of garda compensation
claims and made awards ranging up to £17,500.

Sgt Peter Sheridan said he was headbutted by a man said to be
stealing baseball caps from fans leaving a U2 concert at the
RDS in August 1993. The man had eight or nine stolen caps in
his jacket and subsequently received a six-month sentence for
the attack.

He received face, nose, shoulder and wrist injuries when he fell
to the ground and needed an operation on one of his nasal
passages as a result of the attack. The judge awarded £16,500.
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Posted by Oliver Giovanoli on WIRE:

(Condensed from VIVA text:)
Bono celebrated the vicory of the French soccer team with Johnny Depp,
Jack Nicholson and Zucchero at a celeb disco called "Les Bains"
in Paris.
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>From CNN:

Feature/ Mandela Prepares to
Become an Octogenarian

Reuters 13-JUL-98 By Richard Meares

JOHANNESBURG, July 14 (Reuters) - South Africans have good reason to
cheer that Nelson Mandela is turning 80 this weekend.

With Nigeria thrown into turmoil by the death of detained presidential claimant
Chief Moshood Abiola, the continent's other major power can count its
blessings that its own best-known political prisoner made it to the presidency.

Without Mandela's vision and guiding hand through tortuous negotiations that led
South Africa to democracy in 1994, the country would with little doubt be
worse off than it is today.

``I am happy to have lived to be 80,'' the fit-looking former boxer said recently.

``I recommend to you all to live to 80 and then you will have
the respect of all, even those who despise you.'' He recalled happily how a
doctor warned him long ago that his unhealthy meat-heavy diet would kill him
before he was 40.

Now double that age, the octogenarian will spend the big day in Johannesburg
with his children and the grandchildren he dotes on, and probably with Graca
Machel.

His partner of two years has brought warmth back to the private life of a man
who described himself as the loneliest in the world in his divorce from his second
wife Winnie in 1996.

MANDELA'S BIRTHDAY IS PUBLIC PROPERTY Mandela says his
birthday no longer belongs to him but has become a public affair which he will
use to help his Millennium Fund, a pool for all his favourite causes.

Most will be invited but you can pay your way in, for 8,000 rand ($1,300) a
head with profits going to his charities.

For other South Africans, two concerts follow a week later including foreign
artists such as Salif Keita and LL Cool J.

They are unlikely to match the momentous Free Nelson Mandela birthday party
held 10 years ago in London's Wembley Stadium with U2, Peter Gabriel and
other pop stars. It was shown around the world, but not in South Africa.

Mandela was still behind bars, albeit in improved conditions as secret talks over
his release proceeded, and hardline president P.W. Botha was still promising to
prevent the black majority ever taking over South Africa.

A year and a half later, Mandela was free. ``I felt that my life was starting over
again at the age of 71. My 10,000 days of imprisonment were over at last,'' he
said.
------------
>From CNN:

War Child Pray for a Live Aid

World Entertainment News Network
13-JUL-98

(JUL. 13) WENN/P - WAR CHILD PRAY FOR A LIVE AID From WENN
news editor KEVIN LEWIN in London Harrowing BBC footage of the famine
in Sudan has spurred the world's most benevolent rock stars into action - and
now charity bosses are hoping for another LIVE AID.

U2, DAVE STEWART and the PET SHOP BOYS have all dug deep to help
volunteers at the WAR CHILD charity maintain mercy dashes to Sudan - an
operation which currently costs $160,000 (o100,000) a month.

But charity bosses fear their recent contributions will not be enough to sustain
relief efforts.

War Child's Southern Sudan Appeal Co-ordinator JOHNNY McGLADE says,
"We approached these guys a few weeks ago but heard nothing back and then
the BBC showed the extent of the problem and the donations started coming in.
U2 have just handed over $10,000 (o6,250).

"It needs something bigger but we're too busy with the effort itself to plan big
awareness events - we really need someone to come along with another Live
Aid."

MARK KNOPFLER, PAUL BRADY and SHOLA AMA are to headline a
one-day festival for the Sudan appeal at Britain's Buddhist headquarters at
Taplow Grange, near Maidenhead, on Saturday (18JUL98). (KL/WN/KL)
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Another article (this time from the London Times) on U2/Kilkenny:

 http://www.the-times.co.uk/news/pages/sti/98/07/12/stinwenws01003.html?000999
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South China Morning Post

July 13, 1998

U2 taking care of business after leisure deals bomb

U2, the world-famous Irish rock band, has had to restructure its business after
losing GBP10 million (HK$ 126 million) in German bowling alleys and other
unsuccessful ventures.

The band, worth an estimated GBP367 million, is reorganising its business affairs
because of a string of bad investments. Ossie Kilkenny, also accountant to The
Verve and Oasis, is being replaced as U2's main adviser by an American lawyer.

U2's management says that in spite of the success of the past decade for lead
singer Bono and his fellow band members, they have not been making much money.
"They are certainly not broke but they are not as rich as they might be," one rock
management source said. "If you look back at their earnings over the past 20 years
and ask what they have to show for being the world's leading band, you have to
conclude that they have nice houses and that is about it."

The worst investment was a loss of at least GBP10 million in a company that planned
to build leisure centres for ten-pin bowling and Quasar, a laser shooting game.

U2 also invested in a deal to buy six sites in Germany for GBP8 million but was
refused planning permission for Quasar because war games with replica guns are
banned by the German Government. U2 sold several of the sites at a loss.

Most commentators valued the group at several hundred million pounds - higher
earners than the Rolling Stones or Michael Jackson.

Thanks to Katrina Daniels for this info.
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Sunday Times

July 12, 1998, Sunday

U2 lose millions in investments

U2, the world-famous Irish rock band, have had to restructure their business after
losing Pounds 10m in German bowling alleys and other unsuccessful ventures.

The band, worth an estimated Pounds 367m, are reorganising their business affairs
because of poor investment results. Ossie Kilkenny, also accountant to the Verve
and Oasis, is being replaced as U2's main adviser by an American lawyer.

U2's management says that in spite of the success of Bono, the singer, and his
fellow band members for the past decade they have not been making much
money. "They are certainly not broke but they are not as rich as they might be,"
one rock management source said. "If you look back at their earnings over the
past 20 years and ask what they have to show for being the world's leading
band, you have to conclude that they have nice houses and that is about it."

The worst investment was a loss of at least Pounds 10m in a company that planned
to build leisure centres for 10-pin bowling and Quasar, a laser shooting game. U2
also invested in a deal to buy six sites in Germany for Pounds 8m but were refused
planning permission for Quasar because war games with replica guns are banned
by the German government. U2 finally baled out in 1993 after selling several of
the prime sites at a loss.

The loss-making deals have created a rift between Kilkenny and Paul McGuinness,
the band's manager. McGuinness has introduced a new financial team, led by
Alan Grubman, the leading American entertainment lawyer. Kilkenny still audits the
band's accounts and is in volved in investments with members of the band.

Most commentators valued the group at several hundred million pounds - higher
earners than the Rolling Stones or Michael Jackson. The Sunday Times Rich
List gave their net worth as Pounds 367m, based partly on Pounds 3 for each
of their 76m album sales.

However, the profits were not always invested well. "If they had invested the
money in shares 10 years ago, they would have had a much better return," a
source said.

Management sources say U2's difficulties are as much their own fault as
Kilkenny's. "An element of disappointment has crept into their relationship with
Ossie. They are putting a shape on the next seven years and want to introduce
more accountability and discipline," said one.

In a rare comment about the band, McGuinness said: "They are now in the best
position of any band ever, in that they own all their own copyright and master
recordings."

A friend of Kilkenny said: "Ossie and McGuinness made a lot of the U2 investments
together. They are like a couple splitting up after 20 years and fighting over
the kids."

Thanks to Katrina Daniels for this info.
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You can find a pic of Bono when he was on the David Letterman show at the
site below. Unfortunately, it's only a shot of Bono :(... You can also find
animated gifs of the "googlie-eyed" woman on the main page(drop the june...
on the address), animated gifs of Drew Barrymore's "revealing" performance
on The Late Show and an animated gif of a girl I'm going to date one day....

                        http://letterman.iscool.com/june97/6-10c.jpg
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