Play Fantasy The Most Award Winning Fantasy game with real time scoring, top expert analysis, custom settings, and more. Play Now
Blog Entry

Heat's Arison, Carnival CEO, sad about shipwreck

Posted on: January 16, 2012 1:33 pm
Edited on: January 16, 2012 1:44 pm
 
Posted by Royce Young



Miami Heat owner Micky Arison has lost a reported $1.3 billion with his Carnial Cruise Lines. And things aren't getting any better for him right now.

Over the weekend, an Italian cruise ship crashed in the Mediterranean Sea after hitting a reef off the island of Giglio. According to reports, 16 passengers and crew are still missing and six have been found dead.

But the owner of the cruise liner? Arison.

Via the New York Post:

Carnival said the ship was insured for damage with a deductible of approximately $30 million, as well as insurance for third-party personal injury liability subject to an additional deductible of approximately $10 million for this incident. The company self-insures for loss of use of the vessel.

A damage assessment review is underway, Carnival said, but the ship is expected to be out of service for the remainder of the company's current fiscal year -- if not longer.

The company is 47 percent owned by Micky Arison, chief executive and son of the company's founder, and the broader Arison family. It has lost almost a third of its market value over the past year, amid investor worries about fuel prices and consumer weakness.

Arison said in a statement that he was "deeply saddened" about the incident. Carnival said Monday that the shipwreck could cost it approximately $85 million to $95 million in lost earnings alone. Which obviously takes a major backseat to those that were injured or killed as a result of the wreck, but the damage from the incident is wide reaching.
Category: NBA
Comments

Since: Aug 19, 2006
Posted on: January 16, 2012 5:56 pm
 

Heat's Arison, Carnival CEO, sad about shipwreck

 How did this become a chance to rant about LeBron? Grow up you clown. And I'm pretty sure the captain and most of the crew were Italian... a little research would tell you that is not even close to a 3rd world country. How can some people be a perfect blend of stupid and ignorant? 



Since: Sep 25, 2008
Posted on: January 16, 2012 4:56 pm
 

Heat's Arison, Carnival CEO, sad about shipwreck

Hiring third-world sailors = third-world results ... ya get what you pay for Mister Arison.

Nice job of combining ignorance and arrogance in a single short post. Well done.



Since: May 17, 2007
Posted on: January 16, 2012 4:39 pm
 

Heat's Arison, Carnival CEO, sad about shipwreck

No Ship he's sad!!!  The worldwide recession has put a stranglehold on the cruise business then 45% of their business is from Europe and this was their main ship so this is a BP nightmare.



Since: Oct 2, 2008
Posted on: January 16, 2012 4:31 pm
 

Heat's Arison, Carnival CEO, sad about shipwreck

Hiring third-world sailors = third-world results ... ya get what you pay for Mister Arison.




Since: Aug 22, 2006
Posted on: January 16, 2012 3:47 pm
 

Heat's Arison, Carnival CEO, sad about shipwreck

That post is beyond poor taste. Totally classless.



Since: Nov 28, 2007
Posted on: January 16, 2012 3:43 pm
 

Heat's Arison, Carnival CEO, sad about shipwreck

I knew Lebron was responsible somehow for this!



Since: Sep 26, 2011
Posted on: January 16, 2012 3:06 pm
 

Heat's Arison, Carnival CEO, sad about shipwreck

It has to be similar to that ship wreck that appears when the 4<sup>th</sup> quarter comes and Le Boob is on the court.  Have to love watching them choke and then Le boob has the audacity to say he is satisfied w/ the teams play. And this as after losing I believe three in a row. Now the Heat is getting a taste of what the Cavs organization kept under wraps for all those years. They coddled and sheltered the world from Le Boobs immature, selfish, arrogant personality. The kid from Duke is working out well for the Cavs.




Since: Sep 17, 2008
Posted on: January 16, 2012 2:16 pm
 

Heat's Arison, Carnival CEO, sad about shipwreck

My prayers to those missing, killed or injured as well as their family, friends, and loved ones.


The views expressed in this blog are solely those of the author and do not reflect the views of CBS Sports or CBSSports.com