Word: burnette
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...past few years, he has been a staple of Canada's Business News Network, co-hosting a show called SqueezePlay. He is also one of the stars of the popular Dragon's Den, the Canadian show that served as the model for Shark Tank. When producer Mark Burnett, who also created Survivor and The Apprentice, acquired the show for American airwaves, he imported O'Leary along with another Canadian cast member, Robert Herjavec...
...While piracy has become a common scourge off the coast of Somalia, an attack in a region blanketed with "sophisticated surveillance and extensive navies and coast guards is almost unheard of," says Douglas Burnett, a maritime partner at the U.S. international law firm of Squire, Sanders & Dempsey. It is all the more suspicious given the relatively low value of the listed cargo on board. "The cargo on the ship is timber," he says. "No one would steal a ship for timber, especially in European waters. So perhaps the lumber could be a cargo cover. Was it drugs? Was it nuclear...
...shipping industry, like so many others, has been battered by the global recession. According to Lloyd's Marine Intelligence Unit, nearly 10% of the world's merchant ships are stuck at harbor because of a collapse in global trade. Burnett notes that there has been an increase in insurance fraud as a result of financial pressures. "We have had cases in the past where ships have been intentionally scuttled as part of a fraudulent insurance scheme," he says. "The law says that when a ship doesn't arrive in port, it's assumed to be from a peril...
...suspicions and theories are all there is, until the rescue vessels find the missing ship - if they ever do. Maritime expert Burnett says international law would normally require that the Russian navy receive permission from Maltese authorities to board the Arctic Sea, but a specific piracy exemption in the U.N.'s Law of the Sea Convention allows any country to board a ship it suspects has fallen under the control of pirates. (See pictures of the face of modern piracy...
...this case, I think any nation can ask the Arctic Sea to heave-to and be boarded," Burnett says. "We are all waiting to find out what happens. Right now, it is very mysterious...