While we are discussing economy........
The Somali pirates, renegade Somalis known for hijacking ships for ransom in the Gulf of Aden, are negotiating a purchase of Citigroup. The pirates would buy Citigroup with new debt and their existing cash stockpiles, earned most recently from hijacking numerous ships, including most recently a $200 million Saudi Arabian oil tanker. The Somali pirates are offering up to $0.10 per share for Citigroup, pirate spokesman Sugule Ali said earlier today. The negotiations have entered the final stage, Ali said. ``You may not like our price, but we are not in the business of paying for things. Be happy we are in the mood to offer the shareholders anything," said Ali. The pirates will finance part of the purchase by selling new Pirate Ransom Backed Securities. The PRBS's are backed by the cash flows from future ransom payments from hijackings in the Gulf of Aden. Moody's and S&P have already issued their top investment grade ratings for the PRBS's. Head pirate, Ubu Kalid Shandu, said "we need a bank so that we have a place to keep all of our ransom money. Thankfully, the dislocations in the capital markets has allowed us to purchase Citigroup at an attractive valuation and to take advantage of TARP capital to grow the business even faster."Shandu added, "We don't call ourselves pirates. We are coastguards and this will just allow us to guard our coasts better."
6 comments:
Nice one again, keep'em comin!
Kausty, you have "an" isshtyle of your own.
Acquire Citigroup? This is interesting!
Apparently everything that is PIRATED is popular!
Kausty,initially I thought you were pulling a fast one... but then I did a quick google and sure enough it was true!
Gawd, what's the world coming to? Good thing our Indian Navy is kicking their "you know what"!!!
I know of the Somalians as the most poverty struken...dying due to lack of food. Infact the Hindu in one of its Sunday Editions a couple of months picturised...a mother making mud cakes and serving to her children.
The other somalian team I know of are the resident doctors at RH Perambur,including me at one time who used to hog at food served in rinsed plates with stale food remnants,if ur lucky u get one with detergent powder sticking at the corners.Only vegetarian food is available.The only nonveg stuff u get even which meat eaters wud have never tasted is Sambhar with cockroach dip.It juz takes a couple of days for freshers to get used to,coz...
in the lighter sense all this is "Struggle for Existence" my mate.I'm happy to come across some rich somalians too.
Well, like Tas says from our point of view it certainly looks like terrorism. But from Santa's pov it makes sense too. One cannot deny that Somalia is a country torn by civil war, famine and conflicts. Some of the articles that we read can send shivers down our spine. There always is a reason behind every unreasonable action.....
As for these guys calling themselves coastguards and wanting to own a bank to keep the ransom money.. ...lol man!
Ladies, I beg to differ.
I sympathize with the Somalians, they've been mistreated from several sides, robbed off their wealth, had no peace or stability and had been subject to foreign occupation.They were not treated justly by the world. But piracy!! How can one condone that...
If every disgruntled person takes the law into his own hands,imagine the mayhem that would cause the world over. These pirates are nothing short of terrorists.
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