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Imraneo Husain's Facebook Profile

Posted on 7 January 2009 @ 8:34 am GMT+8

OK.. I just fast-forwarded myself in my time machine into this new year. What a rush! OK, just kidding.. and before I forget, I’d like to wish all my readers a Happy New Year! Now keep the resolutions to yourselves.. they don’t usually work :P

Back to this news about a German billionaire that commits suicide as he couldn’t take hefty losses from the shares that went in the direction he didn’t predict.

german_billionaire_suicideHere’s a snippet:

Merckle was ranked as the 94th richest person in the world in May 2008 by Forbes magazine, with a fortune of $13 billion.

But his family holding company had debts of more than $9 billion and Merckle had been trying to arrange an emergency funding injection from a group of 30 banks.

“The dedicated family businessman was broken by his inability to handle the situation and he ended his own life,” his family said in a statement this morning.

I’m not into business news usually, but this news caught my attention. Is the economic crisis that bad? Probably bad, but bad enough to end own’s life? I don’t think so. Although I definitely can’t feel for a $13 billion guy, I have to say that suicide should never be an option. There are so many jobless people out there at this moment, with very little left to spare. This billionaire aged 74 obviously spent his life working hard for riches and all. He could have waited for death to come naturally.

Anyways, you can read more about this in The New York Times.

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