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Tuesday, January 17th, 2012 at 1:25 pm  |  16 responses

Heat Owner Micky Arison Lost Hundreds of Millions in Cruise Liner Disaster


Miami Heat owner Micky Arison has had some bad financial luck of late. And the recent Costa Concordia cruise liner disaster only added to the billionaire’s woes. To say nothing of the lives lost during the tragic wreck. From the Guardian: “More than £300m has been wiped off the paper fortune of the multibillionaire boss of the company that owned the stricken cruise liner Costa Concordia. Micky Arison, the flamboyant chairman, chief executive and majority owner of FTSE 100 company Carnival, saw a large chunk of his $4.5bn (£2.9bn) holdings dissolve on Monday as the company’s shares lost almost a fifth of their value. The shares collapsed by as much as 23% before ending the day 17% lower at £18.65 – their biggest fall for a decade. That wiped more than £1bn off the market value of the company and £300m from Arison’s 30% stake. The fall was precipitated by fears that the shipwreck will put holidaymakers off booking cruises for this year’s summer holidays and Carnival warned that it was ‘not possible to determine’ the full cost of the wreck, which killed at least six people. Carnival said the Costa Concordia would be out of action until at least November and put initial estimates of the cost at $95m (£62m). However, analysts said the final amount is likely to be greater. ‘This tragedy will be a black mark on the cruise industry and a negative headline for Carnival,’ said Tim Ramskill, an analyst at Credit Suisse. ‘If the industry didn’t already face enough challenges, this unfortunate event will reverberate on the group over the near-term. While these accidents are extremely rare, the extensive media coverage will likely curtail some booking activity and pressure pricing during the critical season.’”

(H/T: True Hoop)

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  • http://moontain.org Fredd

    still he only lost money, people are losing their jobs ….

  • ballerphil

    and people lost their lives…

  • bike

    And the reason we care is….what?

  • Heals

    And from everything I’ve read about the guy he does both with his $$$ by donating to charities and investing in businesses, but yeah everything in perspective…

  • 23

    To the above commenters, funny you guys don’t say thhose things when they’re is a headline about your fave team losing, or your fave player sustaining an injury. OF COURSE ITS NOT THE BIGGEST PROBLEM IN THE WORLD! But this is SLAM! If you wanna read about people losing their jobs or people dying, go to cnn or fox or any other news source

  • Heals

    @23 You see any of the comments by C’s fans after learning about JGreen’s injury? Course not cause that would give you some perspective on your points (or lack thereof). A majority of the comments were about his health not it’s impact on the C’s (Bos fans or not). No one said they wanted to read about this type of stuff, who would, your the one with an issue it appears (then why read it?). Congrats on a comment that is hypocritical, incorrect and irrelevant all at the same time…

  • Heals

    @23 You see any of the comments by C’s fans after learning about JGreen’s injury? Course not cause that would give you some perspective on your points (or lack thereof). A majority of the comments were about his health not it’s impact on the C’s (Bos fans or not). No one said they wanted to read about this type of stuff, who would, your the one with an issue it appears (then why read it?). Congrats on a comment that is hypocritical, incorrect and irrelevant all at the same time…

  • http://anyoldthing Ugh

    @23 – I agree.

  • http://dodgers.com Joey E.

    Someone needs to get Paul Pierce’s big-ass a wheelchair.

  • Heals

    When it’s the only thing you comment Joe I’d figure you’d at least get the grammar correct by the 4th time or so. “Paul Pierce’s big a$$ A wheelchair,” good a stuff…

  • 80

    Since I am not a native English language speaker, i would love to know what was wrong with his grammar?

  • http://dodgers.com Joey E.

    There’s nothing wrong with my grammar. Don’t let this native speaker lower your standards. Grammar is woefully neglected in American schools. This guy speaks with NO authority.

  • Heals

    Someone needs to get PP’s big-a$$ wheelchair – fine.
    Someone needs to get PP a wheelchair – fine.
    Someone needs to get PP a big-a$$ wheelchair – fine.

    Someone needs to get PP’s big-a$$ a wheelchair – incorrect.
    If it’s PP’s wheelchair then it can’t also be ‘a’ wheel chair in same sentence.
    If it’s just a wheelchair then PP can’t possess it therefore no need for the (‘s).
    Your welcome kiddies…

  • http://www.williambruce.wordpress.com William Bruce
  • http://dodgers.com Joey E.

    I know you’ve probably read a manual on grammar, and somehow this epic achievement of yours makes you believe you can quibble about grammatical faults. But you really have no idea what you’re talking about. That is a straightforward sentence that only a troll/douche could mistakenly believe contains an error.
    I don’t know how you’re confused over the possessive in this sentence, but it’s not used to show possession of any wheelchair. The possessive is for PP’s big-ass (Like Jerry’s nose or Ryan’s cup). “A wheelchair” is acting as the direct object of the verb GET in my sentence. “Paul Pierce’s big ass” is a noun phrase acting as the indirect object. I guess you have to take a couple more semesters at American Career College or wherever you go. They’ve made you believe you have some grasp of syntax and grammar when you don’t even have a grasp of common sense (which is evidenced by you trying to quibble about grammar ON THE COMMENTS SECTION OF A BASKETBALL WEBSITE).

  • http://dodgers.com Joey E.

    Not to mention the fact that you’re such a douche you wrote YOUR WELCOME KIDDIES (which is a very basic, borderline illiterate mistake) instead of the correct YOU’RE WELCOME KIDDIES. If you’re going to be condescending, at least be right. Or avoid making a blatant mistake in the process. Moron.

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