VENTURE CAPITALISTS INVEST IN SOMALI PIRATES

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VENTURE CAPITALISTS INVEST IN SOMALI PIRATES

VENTURE capitalists in New York and London are pumping millions of dollars into Somalia’s booming pirate sector.

Personnel issues are now dealt with via mentoring and third-party arbitration
The sharp-eyed investors say Indian Ocean piracy has replaced Bangladeshi t-shirt factories as the developing world’s strongest source of high-growth revenue streams.

Julian Cook, head of strategy at Porter, Pinkney and Turner (PPT), said: “The margins are very impressive. These guys can board a Chinese freighter or Saudi oil tanker and turn it around in less than a week. Usually without killing anyone.

Source:
VENTURE CAPITALISTS INVEST IN SOMALI PIRATES
Daily Mash, November 2008
http://www.thedailymash.co.uk/index.php?option=com_content&task=view&id=1405&Itemid=59

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