https://www.reuters.com/article/emirates-oil-tanker-int-idUS...
Now, whose hell is hotter?
This world is definitly a ship of damned and fools.
321–330 of 426 posts
https://www.reuters.com/article/emirates-oil-tanker-int-idUS...
Now, whose hell is hotter?
This world is definitly a ship of damned and fools.
Earlier quoted context omitted.
> The shipping company's CEO is 100% responsible for not dealing with the situation properly because they absolutely did not do that in any way, shape or form. And if the company went bankrupt or the CEO suddenly died/disappeared? Then what? There could be any number of reasons why a company might be unable to do what they need to do. The guy is still stuck there then, because it all rests on the shipping company rat…
Running and hiding when insolvency hits is illegal in most places. But sure, it's certainly possible that this has happened to his employer while that company who employ him is still providing quotes about it being impossible to find anyone who would take his place but not paying him either. So in insolvency that is deemed bankruptcy the assets of the company are traditionally used to deal with as much of the liabili…
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Given the excessive "compensation" demand that Egypt is making for the ship that blocked the canal, I'm going to assume the fault lies with Egypt.
Let's get more specific. What is reasonable compensation that should Egypt demand?
So absolute upper bound for losses is $180 million. If I were making odds I would guess that only 1/3 of the ships diverted around Africa, so $30 million, and that the rescue cost another $15 million, so over/under $45 million.
And that's without even bringing up that there was a canal pilot on the ship at the time who may share some portion of the responsibility for the accident. So, yeah, it's extortion.
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Err here in the United States you have people pissing in bottles and bags because they can't take a break without missing targets. The West is not immune to predatory hiring and employment practices.
It seems fairly easy to get a union if a workplace wants one...
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Err here in the United States you have people pissing in bottles and bags because they can't take a break without missing targets. The West is not immune to predatory hiring and employment practices.
Ever been enslaved on a Thai fishing boat? I know a few people who have, including a neighbor that was missing for 3 years. The US has its own problems, but places like Dubai, Southeast Asia, etc. have a much more severe problem with mistreatment and abuse of workers. Last year a building collapsed here during construction and killed about 60 people. Stuff like that happens all the time.
I've also lived in the US for 9 years; I'm also well aware of the mistreatment of workers here, such as workers who are undocumented migrants, workers who are prisoners, workers who work gig companies, Amazon workers, and many others.
I hope he is able to profit from his story with book and/or movie rights. It's a fascinating story and I bet would make a great movie a la Captain Phillips or 127 Hours.
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Given the excessive "compensation" demand that Egypt is making for the ship that blocked the canal, I'm going to assume the fault lies with Egypt.
Let's get more specific. What is reasonable compensation that should Egypt demand?
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Same. I help put deals together with some experience in SE Asia. The ability to enforce contract and property rights in the US, with ready access to the courts and relatively clear rules, sets the US apart in terms of business efficiency and predictability. In my assessment, it's a large part of what's made the US so prosperous. In contrast, dealing with corrupt officials in smaller countries in SE Asia is just wild.
Not once, but multiple times I've had police simply steal cash from me in the states. Not civil forfeiture, but the cash in a wallet disappears on it's way to where it's held temporarily, no crimes involved. And from rich areas like Boulder, CO. I have not seen the lack of low level corruption in the states compared to other countries. Like in other countries they simply confine their corruption to those powerless to…
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Egypt definitely has fault here, but the company that owns the ship could have gotten the ship out of there if they cared about him at all. Yes, it might have been expensive, but I would expect a US based company to have rescued him within weeks of this situation starting, not years.
The article says the parent company is in financial difficulties, and the individual in question was basically being held for ransom (along with the ship). Depending on the ordering of debts (for the company), they may not have been able to compensate the Egyptians. All of that being said, I agree an American company likely would have had this sorted out faster, because the USA tends to deal with bankruptcies and the…