German Volkswagen short Billionaire commits suicide

[makloda]

Damn.

http://www.bloomberg.com/apps/news?pid=20601087&sid=ao_E2.GY3YLE

Jan. 6 (Bloomberg) -- German billionaire Adolf Merckle, whose investment company was renegotiating its bank debt, died after he was hit by a train and may have committed suicide, Die Welt reported.

Merckle was struck near his hometown of Blaubeuren, southeast of Stuttgart, yesterday evening, the German newspaper said on its Web site today. Police said he may have killed himself, the newspaper said.

Merckle had lost money from a series of wrong-way bets on Volkswagen AG, a drop in the value of his HeidelbergCement AG stake and increasing debt. The 74-year-old, whose estimated $9.2 billion fortune put him 94th on Forbes’s list of the world’s richest people, was negotiating with banks on a bridge loan to rescue his investment company VEM Vermoegensverwaltung GmbH.

HeidelbergCement stock dropped as much as 13 percent to 29.16 euros. Calls to the company and VEM went unanswered when Bloomberg called.

Merckle was to get more than 400 million euros ($547 million) in bridge loans to rescue VEM, Financial Times Deutschland reported yesterday, citing unidentified bankers.

 

[1flyfisher]

Amazing how quickly the mind can shift from a state of general happiness to despair and hopelessness all over money and wealth.

I am glad I am not a slave to money.

 

[nassau]

Quote from 1flyfisher:

Amazing how quickly the mind can shift from a state of general happiness to despair and hopelessness all over money and wealth.

I am glad I am not a slave to money.

I take it you are not married.

w

 

[flytiger]

Ny Post will have a Headline tomorrow:

VW shortseller catches train out of town.

Tough when you cheat and get caught. I guess he needed another billion.

no sympathy. None.

 

[0008]

who is the next?

 

[Compulsive]

Quote from 1flyfisher:

Amazing how quickly the mind can shift from a state of general happiness to despair and hopelessness all over money and wealth.

I am glad I am not a slave to money.

Buy some of these and give it to someone and see their expression before and after

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[flytiger]

Quote from 0008:

who is the next?

With the stuff coming out in the FFH discover, remember OSTK has discovery vs the same guys but it isn't public, I'm hoping, eh, I mean, I'm guessing a US Hedgie.

But these guys are more sissies. They run. So probably, a big Wall Streeter who knows what's coming. If you think emails in FFH are stupid, wait till you see what's coming.

Another point. You don't have to stop a man's heart to kill him. How many times have you seen some guy who lost his wife and job or whatever go postal? Did you see Mr. Goldstein in the hearing yesterday? Don't rule out a nut case for a minute. You steal 'everything' from somebody, if you take his hope, his dreams, he'll take you out. And he doesn't care if you work on 6 th ave, or in an alley on 6th St.

 

[ASusilovic]

Quote from makloda:

Damn.

http://www.bloomberg.com/apps/news?pid=20601087&sid=ao_E2.GY3YLE

Jan. 6 (Bloomberg) -- German billionaire Adolf Merckle, whose investment company was renegotiating its bank debt, died after he was hit by a train and may have committed suicide, Die Welt reported.

Merckle was struck near his hometown of Blaubeuren, southeast of Stuttgart, yesterday evening, the German newspaper said on its Web site today. Police said he may have killed himself, the newspaper said.

Merckle had lost money from a series of wrong-way bets on Volkswagen AG, a drop in the value of his HeidelbergCement AG stake and increasing debt. The 74-year-old, whose estimated $9.2 billion fortune put him 94th on Forbes’s list of the world’s richest people, was negotiating with banks on a bridge loan to rescue his investment company VEM Vermoegensverwaltung GmbH.

HeidelbergCement stock dropped as much as 13 percent to 29.16 euros. Calls to the company and VEM went unanswered when Bloomberg called.

Merckle was to get more than 400 million euros ($547 million) in bridge loans to rescue VEM, Financial Times Deutschland reported yesterday, citing unidentified bankers.

Unbelievable !

 

[Optionpro007]

I think he was miserable anyway. The money 'issue' was just a good excuse.

 

[ElCubano]

Quote from Compulsive:

Buy some of these and give it to someone and see their expression before and after

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I did something similar to a friend of mine....i was going fishing with a friend of mine on sunday morning and saturday night before the lotto numbers were out he purchsed about 4-5 tickets...sunday came around and i stepped out and got the same winning numbers on a ticket but for the following week and was able to mix them with his tickets...I knew there was a chnce he wouldnt look at the date...and lo and behold he almost fainted when he saw the number...I let him go crazy for about 5-10 minutes and then I had to bribng him back down from the clouds...thats the last time I would ever do that to someone....peace