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...trade route that has linked the Mediterranean with the Indian Ocean for centuries. In this era of globalization, many trading corporations have pressured their respective governments to take action. The gulf also contains a very profitable tourist route for high-end cruises. On Tuesday, the 246 passengers aboard the cruise ship MS Columbus, owned by the German firm Hapag-Lloyd, were flown to Dubai in order to avoid the danger zone. The secretary-general of the German tourist federation, Hans-Gustav Koch, claimed that in order to cope with the pirates, “We want escorts...

Author: By Pierpaolo Barbieri | Title: Pirates of the Aden Gulf | 12/11/2008 | See Source »

...Dashishle, the pirate aboard the Sirius Star, concurred: "They just want the Saudi Arabians who own the ship to hear that the Shabab militia wanted to release the ship, because they receive money from some rich Saudis," he said. "But the Shabab doesn't have the strength to attack us and release the ship. It's just simple propaganda...

Author: /time Magazine | Title: A Pirate Ransom Deal: Who Gets the Money? | 12/4/2008 | See Source »

...very little of the booty will go to the pirates themselves. "Our representatives told us that the ship's owners have agreed to a good amount of money," TIME was told this week by a man named Ahmed Gel-Qonaf, 29, who claimed to be among the pirates aboard the Faina, captured in September. "We said if there is money they are ready to pay, then we will release the ship." And the $3 million figure confirmed by Gel-Qonaf represents a relative bargain in comparison to the pirates' opening bid of more than $25 million...

Author: /time Magazine | Title: A Pirate Ransom Deal: Who Gets the Money? | 12/4/2008 | See Source »

...pirates aboard the Saudi-owned ship and members of Somalia's Transitional Federal Government dismiss these claims as an effort to placate their donors in Saudi Arabia...

Author: /time Magazine | Title: A Pirate Ransom Deal: Who Gets the Money? | 12/4/2008 | See Source »

...self-respecting media company, owns or leases aircraft to get its own VIPs around. They're not going to let Miley Cyrus slum it on Southwest. The privileged would include Bob Iger, Disney's CEO. The company spent more than $65,000 in 2007 on Iger's personal travel aboard corporate aircraft, and it requires him to fly corporate when he's on business. Disney extends the private-jet perk to other top officers as well as directors attending meetings and other company events. Nice. Yes, Iger is having a way better year than the Detroit Three - would you rather...

Author: /time Magazine | Title: Why the Big Three Should Fly Corporate Jets | 12/3/2008 | See Source »

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