Quote: One person has died and six are missing after a superyacht capsized off the Sicilian coast in the Mediterranean on Monday at about 5am (03:00 GMT) after it was hit by stormy weather caused by a “waterspout” – or mini tornado – according to Italian authorities.
 
The cruise had reportedly been undertaken to celebrate the acquittal of British tech tycoon Mike Lynch, who has been missing, in a fraud trial in the United States in June.

His co-defendant in the trial, Steve Chamberlain, who was also acquitted in June, was killed after being hit by a car on Saturday.

Quote: 

• Mike Lynch, 59, a British-Irish technology businessman who co-founded British tech company Autonomy in 1996 and was once likened to Microsoft founder Bill Gates; he earned a PhD from Cambridge University
  
• Hannah Lynch, 18, Mike’s daughter, who had just completed her final school exams and was due to begin a degree in English at the University of Oxford this September
  
• Jonathan Bloomer, the 70-year-old British chairman of Morgan Stanley bank and the Hiscox insurance company, was confirmed as missing by Hiscox CEO Aki Hussain
  
• Judy Bloomer, Jonathan’s wife, was also confirmed as missing by Hussain
  
• Chris Morvillo, from British international law firm Clifford Chance, was confirmed to be missing by Salvatore Cocina, head of the Civil Protection in Sicily
  

Quote:Autonomy founder Mike Lynch was acquitted of fraud Thursday by a jury in San Francisco, a major win for the software entrepreneur who has been dogged by legal problems since the disastrous sale of his company to Hewlett-Packard (HP) for $11 billion in 2011.
Representatives for Lynch and US prosecutors said Lynch was acquitted on all 15 charges — one count of conspiracy and 14 counts of wire fraud.
Former Autonomy finance executive Stephen Chamberlain, who faced the same charges at trial alongside Lynch, was also acquitted on all counts, the Lynch representative said.

Quote: Nancy Pelosi. She and her husband Paul reported losses of between $400,000 and $4 million from the sale of high profile tech company stock holdings:

• Cisco: sold 100%. Capital loss of $100,000-$1 million
  
• Ebay: sold 100%. Capital loss of $100,000-$1 million
  
• Yahoo: sold 100%. Capital loss of $100,000-$1 million
  
• Motorola: sold 100%. Capital loss of $100,000-$1 million
  

Only Motorola isn't based in Pelosi's Silicon Valley backyard. (For the record, she doesn't represent Silicon Valley, but rather San Francisco, 30 miles north.)That might be a big headache if the Pelosis relied on her $230,000 earned income to make ends meet. But that's not an issue. It looks like those tech stock losses were in fact a smart tactical move to help the couple offset a massive capital gain they also booked in 2010, courtesy of Silicon Valley's cash machine: Apple. The Pelosis sold a chunk of their Apple holdings and reported a capital gain of between $1 million and $5 million. For the record, the stock has gained another 40 percent since the Pelosis sold last spring. And hey, they still report owning between $500,000 and $1 million of Apple stock.

Quote: His co-defendant in the trial, Steve Chamberlain, who was also acquitted in June, was killed after being hit by a car on Saturday.

Quote: 
CCTV from a Sicilian port has captured the moment that superyacht Bayesian sank during a violent storm just before 5am Monday (local time). Search operations remain ongoing for six people who are still missing, including British tech tycoon Mike Lynch, after the 56-metre boat capsized.

One man has died, identified as Recaldo Thomas who was working as a chef onboard, while 15 have survived. Those missing include Mike Lynch and his 18-year-old daughter Hannah Lynch, lawyer Chris Morvillo and his wife Neda Morvillo, chair of Morgan Stanley International bank Jonathan Bloomer and his wife Judy Bloomer.

Quote: The two bodies found inside the wreckage of the Bayesian superyacht have been identified as British tech tycoon Mike Lynch and his teenage daughter Hannah, according to a report.
 
Lynch, 59, and his 18-year-old daughter’s bodies were found inside one of the ship’s cabins and brought to shore Wednesday as two additional bodies were discovered by search teams, according to The Telegraph and The Independent.
 
The two other bodies have not been identified, according to reports.
 
Lynch’s wife, Angela Bacares, managed to escape the sinking ship before it capsized.
 
Dive teams have been searching for the missing passengers, including Morgan Stanley chairman Jonathan Bloomer, his wife, Judy Bloomer, New York City lawyer Christopher Morvillo and his jewelry designer wife, Neda Morvillo.

Quote: The boss of the company behind the doomed Bayesian superyacht has described the vessel as "unsinkable".
Giovanni Costantino, who heads The Italian Sea Group, insisted that boats built by his firms are "safest in the most absolute sense".
Speaking to Sky News, Mr Costantino defended the yacht's design, saying there were no flaws or mistakes in the Bayesian, which capsized in a storm off the Sicilian coast and sank within minutes.

(08-22-2024, 10:02 AM)guyfriday Wrote: A little odd tid-bit about this yacht sinkage.
Bayesian superyacht maker says his boats are ‘unsinkable' as probe into tragedy continues (msn.com)

What other boating disaster happened on an "Unsinkable" ship, where a lot of economic elites went missing?

(08-21-2024, 12:43 PM)Encia22 Wrote: All the missing persons have been found. They were all still in the yacht. 

Now the finger pointing starts. 

Correction: One body is still missing, that of Lynch’s eighteen-year-old daughter.

:cheers:

Quote:the yacht's crew should have been in a state of "alert management", meaning everyone on board had to be in the main lounge, which is the assembly point, rather than their cabins