Word: arison
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...raised behind the Israeli security barrier surrounding much of the West Bank, there was an added bonus to the trip: it was the first time many of the kids had seen the Mediterranean sea, which shimmered in the Spring sunshine. The kids even coaxed the event's benefactor, Sheri Arison, a philanthropist and probably Israel's wealthiest woman, onto the dance floor. (See pictures of Israel's recent war in Gaza...
...Micky Arison thinks so. Arison is CEO of Carnival Corp., the cruise-industry behemoth that bought the venerable but floundering Cunard Line, which operates the QM2. "The concept of the Queen Mary was the reason for the acquisition," Arison says. Plans to build the big liner were announced within months of Carnival's 1998 takeover of Cunard, and Arison believes he can make $120 million from the QM2 "in a good year...
Cunard's famous flagship, the QE2, had a steady business crossing the Atlantic but has aged, as have its passengers. Carnival, on the other hand, made its reputation (and Arison a fortune estimated at $4.4 billion by Forbes magazine) by attracting younger passengers onto modern, glitzy ships, where the casinos start at 8 a.m., the discos are hopping until the wee hours, but the library opens for only an hour a day. Arison is hoping that Carnival's mass-market formula can be adapted from short cruises in warm climates to the sterner waters of the North Atlantic without destroying...
...make money at bargain prices, Carnival counts heavily on economies of scale. For a one-week Caribbean cruise, Carnival's Elation stocks some 10,000 lbs. of meat along with 10,080 bananas, 41,660 eggs and more than 4,000 quarts of booze. By squeezing such costs, Arison says, Carnival can break even with its ships filled to around 60% of capacity. Yet with vessels like Destiny often packed to the gunwales, Carnival has been able to trim operating expenses to 54% of revenues. That contributes to a net profit margin of 27%, first class by any measure...
...ARISON FAMILY Lin Arison, wife of Carnival Cruise Lines founder Ted, gave $40 million worth of Carnival Corp. stock to Miami Beach's New World Symphony, which was created in 1987 by conductor Michael Tilson Thomas and Ted Arison to educate young musicians...