A lot of the vessels that had been taken have been previously released, so like any other businessman, when you’re out of stock, what do you do? You go and get more stock. The Somali pirates are businessmen.
Jim Wilson • Middle East correspondent for Fairplay International Shipping Magazine, on the recent increase in Somali pirate attacks in the last couple of weeks, after a slow period. They’ve made tens of millions of dollars this way, by the way. • source
Things are going tremendously. It has never been this good.
Darren Johnson • A “real estate owned” foreclosure agent from Detroit, talking about how well the foreclosure industry is going at the moment. Glad to know that someone’s doing OK. • source
The Royal Bank of Scotland, well-known for its globalization efforts, has been ordered by the British government to pump billions into the British credit market. source
So RBS can redouble its efforts in its homeland, the company has recently started to scale back and tried to sell a number of its global endeavors – in countries big and small. source
Due to the new tightening of credit in developing countries such as Vietnam and Romania, the world credit market takes a hit and begins to constrict even more. Yikes. source
If there is a silver lining, the large-scale downsizing from major companies will release a lot of new entrepreneurial talent and ideas — scientists, engineers, business folks now looking to do other things.
Mark V. Cannice • Executive director of the entrepreneurship program at the University of San Francisco, on how the economy is making people a bit more creative, building their own businesses, instead of trying to look for work. We kind of did both.
• source