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BEATING THE PIRATES
What's the best way for a shipowner to avoid having a ship hijacked by pirates?

Reroute the ship even if it means a huge diversion
Stay within recommended safe limits and patrolled areas
Hire an on-board security team
Just hope for the best

October 27, 2008

Georgiopoulos set to collect $30 million

Peter Georgiopoulos says his MBA from Tuck School of Business at Dartmouth "helped me in what I've done in my business career" and has "been a stepping-stone."

He should be particularly grateful to any Tuck professor whose inspiration helped him come up with this move: when his General Maritime Corporation merges with Arlington Tankers, he's set to walk away with $30 million.

According to an SEC filing, if the deal goes through, though he'll serve as Chairman, Georgiopolous will step down as CEO and president of the merged company and receive a $22 million cash payment in June, then next January he'll get $8 million in lieu of the annual bonuses he would have gotten.

Meantime, a filing by Arlington Tankers, says that its Chief Executive and CFO, Edward Terino, will go away from the merger with somewhat more than $1.25 million. His MBA is from Suffolk University.


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