Lynch set for gong in Big Apple

One More Thing:Philip Lynch will join an exclusive club in New York next month and it has nothing to do with saunas or smoking rooms.

The One51 boss will receive the Ireland-US Council's "award for outstanding achievement" at a black-tie bash in the Big Apple's posh Metropolitan Club on November 8th.

The award dates back to 1970, when fashion designer Sybil Connolly received the accolade. Since then, recipients have included TK Whitaker, the late Tony Ryan, Michael Smurfit, Bertie Ahern and Peter Sutherland.

Last year's award went to Sir Anthony O'Reilly.

The list of recipients has also included Thomas Coughlin, the former head of Wal-Mart who is being prosecuted by the retailer for fraud.

Lynch is being recognised for his "enormous contribution" in building business links between the two countries, primarily as chief executive and chair of food group Iaws. "Through his corporate leadership, Irish investment in America has flourished," states the invitation to Lynch's dinner.

Lynch's presence in New York next month might interest local fund manager Octavian. On September 21st, Octavian sold more than 500,000 shares in Irish Continental Group to Lynch's Moonduster consortium for €25.20 a pop, with the promise of a "top up" depending on where the ferry company's share price settles over the next 18 months.

The Irish Takeover Panel last week decided that Moonduster's handling of the share purchase had breached its rules and has decided that the "top up" cannot be paid by Moonduster.

This is unlikely to have impressed Octavian or enhanced Irish-American business relations. We wonder if Lynch might be asked to make a stop at Octavian's Madison Avenue offices to explain the gaffe.