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	<title>Corporation Financial &#187; Fish</title>
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	<pubDate>Fri, 16 Apr 2010 04:48:05 +0000</pubDate>
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		<title>Japanese Fish Dealers Welcome Tuna Ban Rejection</title>
		<link>http://www.corporationfinancial.com/information/food/fish/20100319/japanese-fish-dealers-welcome-tuna-ban-rejection/</link>
		<comments>http://www.corporationfinancial.com/information/food/fish/20100319/japanese-fish-dealers-welcome-tuna-ban-rejection/#comments</comments>
		<pubDate>Tue, 30 Nov 1999 00:00:00 +0000</pubDate>
		<dc:creator>Keven Smith</dc:creator>
		
		<category><![CDATA[Fish]]></category>

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		<description><![CDATA[Thursdays vote at a U.N. meeting in Doha, Qatar, rejecting the ban was front-page news in all major Japanese newspapers Friday morning.
Japan consumes about 80 percent of the worlds Atlantic bluefin tuna, and the possibility of a ban had consumers and fish wholesalers worried that prices for the pink and red meat of the fish - called &#8220;hon-maguro&#8221; here - would soar or that it might even vanish from some menus.
Stocks of the fish have fallen by 60 percent from 1997 to 2007, and environmentalists argue that a trading ban imposed by the 175-nation Convention on International Trade in Endangered - - - - >]]></description>
			<content:encoded><![CDATA[<p>Thursdays vote at a U.N. meeting in Doha, Qatar, rejecting the ban was front-page news in all major Japanese newspapers Friday morning.</p>
<p>Japan consumes about 80 percent of the worlds Atlantic bluefin tuna, and the possibility of a ban had consumers and fish wholesalers worried that prices for the pink and red meat of the fish - called &#8220;hon-maguro&#8221; here - would soar or that it might even vanish from some menus.</p>
<p>Stocks of the fish have fallen by 60 percent from 1997 to 2007, and environmentalists argue that a trading ban imposed by the 175-nation Convention on International Trade in Endangered Species, or CITES, would protect the fish.</p>
<p>But the Japanese government and fishing industry say an outright trading ban is too drastic a step, and that catch quotas set by another body, the International Commission for the Conservation of Atlantic Tunas, should be more strictly enforced to protect the species from overfishing. In November, ICCAT cut the annual global quota by 40 percent to 13,500 tons.</p>
<p>&#8220;Rather than ban exports, we should make sure to limit the number caught,&#8221; said Kazuhiro Takayama, a fish wholesaler at Tokyos sprawling Tsukiji fish market. &#8220;A lot of people depend on this fish for their livelihoods.&#8221;</p>
<p>Economic concerns appeared to trump environmental ones, as fishing nations from Asia, Africa, Latin America and the Caribbean complained that any ban would damage their fishing communities and that fears of the stocks collapse were overstated.</p>
<p>The proposed trading ban garnered little support at the CITES meeting, with 68 countries voting against it, 20 for and 30 abstentions. The European Union asked that implementation be delayed until May 2011 to give authorities time to respond to concerns about overfishing, but that proposal also fell flat. The measure needed a two-thirds majority to pass.</p>
<p>After the vote, Masanori Miyahara, chief counselor of Japans Fisheries Agency, said pressure would be on his country and others that depend on the Atlantic bluefin to abide by ICCAT quotas.</p>
<p>But environmentalists say ICCAT has repeatedly failed to enforce catch limits - and that the quotas themselves are insufficient.</p>
<p>&#8220;ICCAT is not able to manage sustainable fishing,&#8221; said Wakao Hanaoka, ocean campaigner with Greenpeace in Tokyo.</p>
<p>&#8220;For Japanese consumers, this is the wrong direction,&#8221; he added. &#8220;Consumers here love to eat sushi and want to pass this along to the next generation, but what the Japanese government is doing is totally opposite to this.&#8221;</p>
<p>Junichi Hakuta, a 52-year-old fish wholesaler at Tsukiji market who relies on tuna for half his business, acknowledged that he was worried about declining bluefin stocks, but said the media attention to the issue would contribute to conservation efforts.</p>
<p>Coming amid criticism of Japans whaling program - as well as an Oscar award for the film &#8220;The Cove,&#8221; which depicts the dolphin-hunting village of Taiji in southwestern Japan - the tuna issue has caused some fishermen to feel that aspects of their culture are being attacked.</p>
<p>&#8220;Its wrong - people telling us what we can and cant eat,&#8221; said Yukio Unagizawa, a wholesaler at Tsukiji market. &#8220;Foreigners eat cows. &#8230; Catching dolphins is part of that villages tradition.&#8221;</p>
<p>The tuna vote was a hot topic in hundreds of fishing villages that dot Japans coasts. While fisherman that ply local waters generally opposed the ban, some said they could benefit from it because of a likely spike in prices of domestically caught tuna.</p>
<p>But Ichiro Murayama, an official in the fishing cooperative in the small town of Katsuura, near Taiji, said that was a short-term view. A move to prohibit trade in certain areas could make it easier to ban others, he said.</p>
<p>&#8220;This wave of putting restrictions on the fishing industry is getting stronger,&#8221; Murayama said. &#8220;This is a trend that could lead to banning tuna fishing even in coastal waters.&#8221;</p>
<p><a href="http://hosted.ap.org/dynamic/stories/A/AS_JAPAN_TUNA?SITE=TXMCA&amp;SECTION=HOME&amp;TEMPLATE=DEFAULT<br />
">Source</a></p>
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		<title>Thermo Fisher Said to Make $6 Billion Bid For Opposition Millipore</title>
		<link>http://www.corporationfinancial.com/information/food/fish/20100223/thermo-fisher-said-to-make-6-billion-bid-for-opposition-millipore/</link>
		<comments>http://www.corporationfinancial.com/information/food/fish/20100223/thermo-fisher-said-to-make-6-billion-bid-for-opposition-millipore/#comments</comments>
		<pubDate>Tue, 30 Nov 1999 00:00:00 +0000</pubDate>
		<dc:creator>Editor</dc:creator>
		
		<category><![CDATA[Fish]]></category>

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		<description><![CDATA[Millipore hired Goldman Sachs as financial adviser after receiving the bid and a deal may be reached as early as next week, said the person who declined to be identified because the talks arent public.     
         The purchase would be Thermo Fisher Chief Executive Officer Marc Caspers first large acquisition since taking over in October for Marijn Dekkers, who left to take the CEO post at Bayer AG. Adding Millipore, the Billerica, Massachusetts-based supplier of diagnostics and laboratory equipment to biotech companies, would bolster Thermos presence in the - - - - >]]></description>
			<content:encoded><![CDATA[<p>Millipore hired Goldman Sachs as financial adviser after receiving the bid and a deal may be reached as early as next week, said the person who declined to be identified because the talks arent public.     </p>
<p>         The purchase would be Thermo Fisher Chief Executive Officer Marc Caspers</a> first large acquisition since taking over in October for Marijn Dekkers</a>, who left to take the CEO post at Bayer AG. Adding Millipore, the Billerica, Massachusetts-based supplier of diagnostics and laboratory equipment to biotech companies, would bolster Thermos presence in the industry.     </p>
<p>         Millipores business would be &#8220;very complementary to Thermo Fishers existing portfolio,&#8221; Daniel Leonard</a>, an analyst at First Analysis Securities Corp. in Chicago, said yesterday in a telephone interview. Both companies test and manufacture drugs for pharmaceutical and biotechnology businesses, and Millipore is &#8220;very strong&#8221; in products used to purify water and filter biotechnology compounds, he said.     </p>
<p>         Millipore rose $16.01, or 22 percent, to $87.35 at 4 p.m. New York time yesterday in New York Stock Exchange composite trading. Thermo Fisher fell $1.12, or 2.3 percent, to $48.10.     </p>
<p>         No Company Comment     </p>
<p>         &#8220;We dont comment on rumors,&#8221; said Ron OBrien</a>, a spokesman for Thermo Fisher, in a telephone interview. Thermo Fisher and Millipore also declined to comment after the New York Stock Exchange contacted the companies due to the &#8220;unusual market activity,&#8221; exchange spokeswoman Mirtha Medina</a> said in a statement.     </p>
<p>         Karen Hall</a>, a Millipore spokeswoman, said in an e-mailed statement, &#8220;Its a rumor and we have no comment on the rumor.&#8221; Andrea Rachman</a>, a spokeswoman for Goldman Sachs, declined to comment.     </p>
<p>         Thermo Fisher</a>, based in Waltham, Massachusetts, makes a range of analytical instruments and laboratory equipment used in manufacturing, health care and environmental industries. The company reported Feb. 3 that fourth-quarter revenue rose 7 percent to $2.84 billion and forecast 2010 sales of $10.6 billion to $10.8 billion.     </p>
<p>         &#8220;Strategically, a combination would make sense between the peers, as it would enhance Thermo Fishers exposure to the faster-growing biotech sector,&#8221; said Joel Levington</a>, an analyst with Brookfield Investment Management Inc. in New York.     </p>
<p>         General Electric     </p>
<p>         Leonard said &#8220;the two companies that would be interested in Millipore would be Thermo Fisher and General Electric Co.&#8221;     </p>
<p>         Thermo Fisher has a large sales force and distribution network and &#8220;very strong ties&#8221; to major customers in the drug, biotech and laboratory business, Robert Hawkins</a>, an analyst at Stifel Nicolaus &amp; Co. in Baltimore, said in a telephone interview.     </p>
<p>         &#8220;Its probably a good fit, though the price seems very high, so Id have to assume there will be quite a few synergies&#8221; that would enable Thermo Fisher to reduce costs by eliminating overlapping operations, Hawkins said.     </p>
<p>         Thermo Fisher paid $650 million to acquire seven companies in 2009, said Casper, the CEO, during a telephone call with analysts on Feb. 3 to discuss quarterly earnings.     </p>
<p>         Activity in Industry     </p>
<p>         &#8220;Youll see some activity in our industry, I think, during the course of this year,&#8221; Casper said during the call. Thermo Fisher would be &#8220;active&#8221; in seeking acquisitions &#8220;that really meet our criteria of strengthening our portfolio and generating a real return for our shareholders,&#8221; he said.     </p>
<p>         Dekkers, the former head at Thermo Fisher, simplified the then-Thermo Electron Corp. by consolidating publicly traded entities, and his $10.6 billion purchase of Fisher Scientific in 2006 created the worlds largest maker of medical laboratory equipment. He joined Bayer in January as head of its health-care division and will take over the CEOs post in October.     </p>
<p>         The deal &#8220;makes both financial and strategic sense,&#8221; said Deutsche Bank analysts in a note yesterday to clients. &#8220;This combination would be similar to historical M&amp;A pursued by Fisher Scientific with a focus on companies that comprised a larger percentage of the catalog.&#8221;     </p>
<p><a href="http://www.bloomberg.com/apps/news?pid=20601202&#038;sid=a5lrt4ieUHQk">Source</a></p>
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		<title>Gap Inc. Co-founder Donald Fisher Dies</title>
		<link>http://www.corporationfinancial.com/information/food/fish/20090928/gap-inc-co-founder-donald-fisher-dies/</link>
		<comments>http://www.corporationfinancial.com/information/food/fish/20090928/gap-inc-co-founder-donald-fisher-dies/#comments</comments>
		<pubDate>Tue, 30 Nov 1999 00:00:00 +0000</pubDate>
		<dc:creator>Keven Smith</dc:creator>
		
		<category><![CDATA[Fish]]></category>

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		<description><![CDATA[The company said Fisher died at his home in San Francisco on Sunday morning surrounded by his family. Those who knew him said he was a great entrepreneur and philanthropist who helped shape the retail world and his local community.
Fisher and his wife Doris opened the first Gap in 1969 in San Francisco, after running into difficulties finding jeans that fit. They named the store after the idea of &#8220;The Generation Gap&#8221; and sold jeans and music, to appeal to a younger crowd.
The simple, affordable style that became the namesake brands trademark resonated with shoppers and took off quickly.
A former - - - - >]]></description>
			<content:encoded><![CDATA[<p>The company said Fisher died at his home in San Francisco on Sunday morning surrounded by his family. Those who knew him said he was a great entrepreneur and philanthropist who helped shape the retail world and his local community.</p>
<p>Fisher and his wife Doris opened the first Gap in 1969 in San Francisco, after running into difficulties finding jeans that fit. They named the store after the idea of &#8220;The Generation Gap&#8221; and sold jeans and music, to appeal to a younger crowd.</p>
<p>The simple, affordable style that became the namesake brands trademark resonated with shoppers and took off quickly.</p>
<p>A former real estate developer with no previous retailing experience, Fisher initially anticipated maybe &#8220;as many as 10&#8243; stores. But Gap grew to be one of the nations largest specialty retailers with more than 3,000 stores in over 25 countries.</p>
<p>Gap Inc. now also operates the Banana Republic, Old Navy, Piperlime and Athleta brands. It became a publicly traded company in 1976 and reported sales of $14.5 billion in its 2008 fiscal year.</p>
<p>Fisher guided the company through its largest growth phases, serving as CEO from the companys inception through 1995 and as its chairman until 2004. He continued as a company director and as chairman emeritus until his death.</p>
<p>&#8220;Today we lost a friend, a mentor and a great visionary,&#8221; Glenn Murphy, CEO and chairman of Gap Inc. said in a statement. &#8220;Don and Doris took a simple idea and turned it into a brand recognized as a cultural icon throughout the world and changed the face of retail forever.&#8221;</p>
<p>National Retail Federation CEO Tracy Mullin said Fishers true entrepreneurship permeated everything he did, and was part of the reason Gap became such a great global brand.</p>
<p>&#8220;It feels like the end of an era in a way,&#8221; Mullin said. &#8220;He really was unique in many ways and people really liked him.&#8221;</p>
<p>The company was one of the first dominant brands, pioneering the idea of cheap chic, retail consultant Burt Flickinger III said. He said many retailers continue to model themselves based on the companys design.</p>
<p>&#8220;Americans would not be able to afford well-made clothes at the low prices and highest possible quality that they have today if it were not for what Don started,&#8221; Flickinger said.</p>
<p>Fisher was also widely recognized for his commitment to philanthropy and the San Francisco Bay community where he was born and raised and the companys headquarters still remain.</p>
<p>Don Fisher was also a charter school advocate, and active in the United Way, Teach for America and other educational efforts. The Fishers gave $15 million in 2000 to create the KIPP (Knowledge is Power Program) Foundation, a national network of free, open-enrollment, college-preparatory public schools to serve students in underserved communities. They have provided millions more to support the organization through the years.</p>
<p>&#8220;Dons contributions to public education, particularly for underserved communities, cannot be overestimated,&#8221; said KIPP Foundation CEO Richard Barth. &#8220;He used what he learned in growing Gap Inc. to show us what we could do in public education, and tens of thousands of children have benefited from his commitment and generosity.&#8221;</p>
<p>San Francisco Mayor Gavin Newsom said Fisher was a &#8220;great San Franciscan, a loving husband and father, and a dear friend. His unwavering commitment to our citys arts and civic culture will be remembered for generations to come.&#8221;</p>
<p>Fisher is survived by his wife Doris, their three sons and 10 grandchildren. He is also survived by two brothers and their wives, Jim and Diane Fisher and Bob and Ann Fisher.</p>
<p>His son Bob Fisher continues to serve on Gaps board of directors and Doris serves as an honorary lifetime member of the board.</p>
<p><a href="http://hosted.ap.org/dynamic/stories/U/US_OBIT_GAP_FOUNDER_FISHER?SITE=NCJAC&amp;SECTION=HOME&amp;TEMPLATE=DEFAULT<br />
">Source</a></p>
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		<title>Commerce Secretary Approves Polar Fisheries Policy</title>
		<link>http://www.corporationfinancial.com/information/food/fish/20090821/commerce-secretary-approves-polar-fisheries-policy/</link>
		<comments>http://www.corporationfinancial.com/information/food/fish/20090821/commerce-secretary-approves-polar-fisheries-policy/#comments</comments>
		<pubDate>Tue, 30 Nov 1999 00:00:00 +0000</pubDate>
		<dc:creator>Sarah Menendez</dc:creator>
		
		<category><![CDATA[Fish]]></category>

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		<description><![CDATA[Secretary of Commerce Gary Locke on Thursday approved the Arctic Fishery Management Plan, which was prompted by changes in the Arctic that have come with global warming and the loss of sea ice.
Locke said the goal now is to come up with a sustainable fishing plan that will not harm the overall health of the fragile Arctic ecosystem.
&#8220;As Arctic sea ice recedes due to climate change, there is increasing interest in commercial fishing in Arctic waters,&#8221; Locke said in a statement. &#8220;This plan takes a precautionary approach to any development of commercial fishing in an area where there has been - - - - >]]></description>
			<content:encoded><![CDATA[<p>Secretary of Commerce Gary Locke on Thursday approved the Arctic Fishery Management Plan, which was prompted by changes in the Arctic that have come with global warming and the loss of sea ice.</p>
<p>Locke said the goal now is to come up with a sustainable fishing plan that will not harm the overall health of the fragile Arctic ecosystem.</p>
<p>&#8220;As Arctic sea ice recedes due to climate change, there is increasing interest in commercial fishing in Arctic waters,&#8221; Locke said in a statement. &#8220;This plan takes a precautionary approach to any development of commercial fishing in an area where there has been none in the past.&#8221;</p>
<p>A report released in April predicted that within 30 years the area covered by summer sea ice will decline from about 2.8 million square miles to 620,000 square miles.</p>
<p>Lockes decision came a day before Obama administration officials are scheduled to conduct a public hearing in Anchorage on the nations ocean policy. A task force is developing a recommendation for a policy that officials say ensures protection, maintenance and restoration of oceans, coasts and the Great Lakes.</p>
<p>The North Pacific Fishery Management Council, which oversees the management of fish in federal waters, adopted the Arctic Fishery Management Plan in February. The plan then underwent public review before Lockes approval.</p>
<p>The plan has been hailed by environmentalists and industry representatives alike.</p>
<p>Fishermen want to avoid what happened in the mid-1980s when it was every nation for itself and the pollock stocks were overfished in the Bering Sea and collapsed, said Dave Benton, executive director of the Marine Conservation Alliance, an industry group that represents the seafood, groundfish and crab industries in Alaska.</p>
<p>The plan will help the United States work more cooperatively with the Canadians and the Russians on a joint decision about fishing in the Arctic, Benton said.</p>
<p>&#8220;This time we want to get ahead of the curve,&#8221; he said.</p>
<p>The plan would prohibit industrial fishing in nearly 200,000 square miles of U.S. waters in the Beaufort and Chukchi seas until researchers can gather sufficient information on fish and the Arctic marine environment. It identifies Arctic cod, saffron cod and snow crab as species that likely would be targeted by commercial fishermen.</p>
<p>The plan would govern all commercial fishing for all stocks of finfish and shellfish in federal waters in Arctic waters off Alaska, except Pacific salmon and Pacific halibut because they are managed under other authorities. It would not affect fisheries for salmon, whitefish and shellfish in Alaskan waters near the Arctic coastline. The proposed plan would not affect Arctic subsistence fishing or hunting.</p>
<p>Also under the plan, fishermen may be required to carry fisheries observers on board to verify catch and discard numbers, among other requirements.</p>
<p>Locke said the North Pacific Fishery Management Council and the National Oceanic and Atmospheric Service will establish procedures before approving any future fisheries.</p>
<p>Chris Krenz, arctic project manager for the conservation group Oceana, said this is the first time a management plan has been put in place before fishing has been allowed in an area. The approach comes, he said, with the realization that fisheries have an impact.</p>
<p>&#8220;This is the type of approach that will lead to sustainability,&#8221; he said.</p>
<p>Krenz said he expects the plan to be in place and enforceable by late this year or early next year.</p>
<p><a href="http://hosted.ap.org/dynamic/stories/U/US_ARCTIC_FISHERIES?SITE=NYONE&amp;SECTION=HOME&amp;TEMPLATE=DEFAULT<br />
">Source</a></p>
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		<title>Publicis to Purchase Microsofts Razorfish For $530m</title>
		<link>http://www.corporationfinancial.com/information/food/fish/20090809/publicis-to-purchase-microsofts-razorfish-for-530m/</link>
		<comments>http://www.corporationfinancial.com/information/food/fish/20090809/publicis-to-purchase-microsofts-razorfish-for-530m/#comments</comments>
		<pubDate>Tue, 30 Nov 1999 00:00:00 +0000</pubDate>
		<dc:creator>Sarah Menendez</dc:creator>
		
		<category><![CDATA[Fish]]></category>

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		<description><![CDATA[The deal is valued at $530 million, comprised of cash and 6.5 million Publicis Groupe treasury shares. The two companies also signed a five-year strategic alliance agreement that will allow Publicis to purchase display and search advertising from Seattle-based Microsoft on favorable terms across Microsofts digital properties in exchange for certain minimum guaranteed purchases.
Under terms of that agreement, Razorfish will continue to be a preferred provider to Microsoft for digital strategy, creative and marketing services and Microsoft has committed to spend a minimum amount for those services each year.
In addition to Microsoft, Razorfishs major clients include Ford Motor Co., Best - - - - >]]></description>
			<content:encoded><![CDATA[<p>The deal is valued at $530 million, comprised of cash and 6.5 million Publicis Groupe treasury shares. The two companies also signed a five-year strategic alliance agreement that will allow Publicis to purchase display and search advertising from Seattle-based Microsoft on favorable terms across Microsofts digital properties in exchange for certain minimum guaranteed purchases.</p>
<p>Under terms of that agreement, Razorfish will continue to be a preferred provider to Microsoft for digital strategy, creative and marketing services and Microsoft has committed to spend a minimum amount for those services each year.</p>
<p>In addition to Microsoft, Razorfishs major clients include Ford Motor Co., Best Buy Co., McDonalds Corp. and Starwood Hotels &#038; Resorts Worldwide Inc.</p>
<p>Razorfish will continue to operate under its brand name and be part of VivaKi, the new Publicis Groupe entity created in June 2008 to reflect independent operations of Digitas, Starcom MediaVest Group, Denuo and ZenithOptimedia. Razorfishs management team, led by Chief Executive Officer Bob Lord, will remain unchanged.</p>
<p>&#8220;The acquisition of Razorfish is another step forward in realizing our strategic vision of building a world leader in digital communications, a critically important space for our clients,&#8221; said Maurice Levy, chairman and chief executive of Publicis Groupe in a statement. &#8220;More than anything, this acquisition should demonstrate that Publicis Groupe now presents a wider pool of resources, talent and expertise that will help our clients market their products or services in a way that takes maximum advantage of the new digital world.&#8221;</p>
<p>Levy added that when the transaction is completed, about 25 percent of the companys annual revenue will come from digital communications, up from around 21 percent currently.</p>
<p>The cash component of the purchase price will be based on the shares value, calculated by the average closing price of Publicis Groupe stock during the 20-trading-day period ending on the eighth business day prior to the closing date of the transaction. The transaction is expected to close during the fourth quarter of 2009.</p>
<p>Publicis is the worlds fourth largest communications company with ad agencies including Leo Burnett,Publicis, Saatchi &#038; Saatchi and media buyers Starcom MediaVest Group and ZenithOptimedia. In digital advertising, it owns Digitas.</p>
<p>Razorfish became part of Microsofts umbrella as part of the companys $6 billion acquisition of aQuantive Inc. in May 2007.</p>
<p><a href="http://hosted.ap.org/dynamic/stories/U/US_MICROSOFT_PUBLICIS?SITE=OHLIM&amp;SECTION=HOME&amp;TEMPLATE=DEFAULT<br />
">Source</a></p>
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		<title>Somali Pirates A Far Cry From Buccaneers Of Old</title>
		<link>http://www.corporationfinancial.com/information/food/fish/20090411/somali-pirates-a-far-cry-from-buccaneers-of-old/</link>
		<comments>http://www.corporationfinancial.com/information/food/fish/20090411/somali-pirates-a-far-cry-from-buccaneers-of-old/#comments</comments>
		<pubDate>Tue, 30 Nov 1999 00:00:00 +0000</pubDate>
		<dc:creator>Keven Smith</dc:creator>
		
		<category><![CDATA[Fish]]></category>

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		<description><![CDATA[The 21st century reality, though, is a far cry from that. There are no treasure-laden islands or Blackbeards in this part of the world, no wooden schooners flying skull and crossbones flags.
Instead: a vigilante movement that years ago tried to defend Somali shores morphed into a full-blown pirate scourge - after fishermen on defense stumbled upon an astoundingly lucrative bounty waiting to be had on their doorstep: around 25,000 ships, most unarmed, transiting the Gulf of Aden each year.
Picture ragged Somali fishermen armed with rocket launchers, GPS systems and satellite phones. Picture tiny skiffs cruising the coast of a war-infested - - - - >]]></description>
			<content:encoded><![CDATA[<p>The 21st century reality, though, is a far cry from that. There are no treasure-laden islands or Blackbeards in this part of the world, no wooden schooners flying skull and crossbones flags.</p>
<p>Instead: a vigilante movement that years ago tried to defend Somali shores morphed into a full-blown pirate scourge - after fishermen on defense stumbled upon an astoundingly lucrative bounty waiting to be had on their doorstep: around 25,000 ships, most unarmed, transiting the Gulf of Aden each year.</p>
<p>Picture ragged Somali fishermen armed with rocket launchers, GPS systems and satellite phones. Picture tiny skiffs cruising the coast of a war-infested nation crawling with gunmen. Picture bandits with sunglasses in worn shirts firing machine-guns at cruise ships, scampering aboard captured trawlers with crude ladders.</p>
<p>And most of all, picture ransoms, huge ransoms.</p>
<p>&#8220;I think when most people think of pirates, they think of Johnny Depp and the Pirates of the Caribbean,&#8221; said security consultant Crispian Cuss of the London-based Olive Group. But these guys are &#8220;just fishermen paid to act as pirates by warlords and armed gangs who have taken over a lawless state.&#8221;</p>
<p>The plight of an American captain, seized from the U.S.-flagged Maersk Alabama and held by Somali pirates since Wednesday on a drifting lifeboat out of fuel, is only one of the latest examples of a problem that has plagued the region for years.</p>
<p>Capt. Richard Phillips, of Underhill, Vt., is believed to have been the first U.S. citizen taken by pirates since 1804, when U.S. Navy Commodore Stephen Decatur battled the infamous Barbary pirates off the northern coast of what is now Libya, dispatching U.S. Marines to the shores of Tripoli.</p>
<p>The modern piracy scourge in the Horn of Africa arose from the ashes of Somalias government, overthrown in 1991.</p>
<p>Since then, Somalia has suffered nearly 20 years of anarchy, chaotically ruled by rival clans backed by pickup trucks mounted with anti-aircraft guns. Its nominal government controls barely a few blocks.</p>
<p>With no coast guard to defend its shores, Somalis began complaining that vessels from Asia and Europe were dumping toxic waste in their waters and illegally scooping up red snapper, barracuda and tuna. The rampant illegal fishing began destroying the livelihoods of local fishermen.</p>
<p>According to a memo prepared last month by the staff of the U.S. House Armed Services Committee, Somali clans began resorting &#8220;to armed gangs in an attempt to stop the foreign vessels. Over time, these gangs have evolved into hijacking commercial vessels for ransom as an alternative source of income.&#8221;</p>
<p>Attacks in the Gulf of Aden and along Somalias coast have risen dramatically, from 41 in 2007 to 111 in 2008, according to the International Maritime Bureau. Since January, pirates have staged at least 66 assaults and currently hold more than a dozen ships and more than 200 foreign crew members.</p>
<p>The memo cited one captured pirate as saying pirates only take 30 percent of ransoms - on average $1 million to $2 million per boat.</p>
<p>Twenty percent goes to group bosses, 30 percent is spent on bribing local officials, and 20 percent goes for capital investment like guns, ammunition, fuel, food, cigarettes. (Cuss said pirates were becoming more sophisticated and in the last two months have, for the first time, begun launching nighttime attacks, possibly indicating pirates have obtained night-vision goggles).</p>
<p>U.S. officials have found no direct ties between East African pirates and terror groups, but the illegal trade is believed backed by an international network of Somali expatriates who offer funds, equipment and information in exchange for a cut of ransoms.</p>
<p>The House memo said Somali buccaneers operate in five well-organized groups, drawing members from large clans, which are extended family networks. Cuss said the industry is controlled by &#8220;warlords and criminal gangs who recruit local fishermen and take a lions share of the profits.&#8221;</p>
<p>Andrew Mwangura of the Mombasa-based East African Seafarers Assistance Program described the pirates as &#8220;desperate people taking desperate measures to earn a living.&#8221;</p>
<p><a href="http://hosted.ap.org/dynamic/stories/P/PIRACY_SOMALIAS_SWASHBUCKLERS?SITE=VAWAY&amp;SECTION=HOME&amp;TEMPLATE=DEFAULT<br />
">Source</a></p>
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