| Suicides due to financial woes |
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| Written by Wilfred Ling | ||||||
| Wednesday, 07 January 2009 | ||||||
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There has been a number of high profile suicide due to financial woes. What is unusual in these cases are that the individuals involved are well-to-do persons. Straits Times money section today compiled four cases namely: Adolf Merckle – Threw himself under a speeding train. He is the 94th richest person in the world last year with a networth of US$9.2 billion. His recent woe was a huge wrong-way bets on Volkswagen shares which pushed his business empire to the blink of disaster. Kirk Stephenson – Jumped in front of a train at a a railway station west of London. He was COO of a private equity house Olivant. Precise reason for the suicide is not known. Steven Good – Was found shot dead in a car in a Chicago suburb in an apparent suicide. He was chairman and chief executive officer of Sheldon Good & Co., a Chicago-based firm that auctions properties. The company has done almost $9 billion of sales nationwide in the last 50 year. No official announcement for the precise reason for the suicide. Other not so high profile but equally tragic suicides reported were Mr. Karthik Rajaram, a 45 year old unemployed financial consultant who last October killed his wife, mother-in-law and 3 sons and himself. He had incurred massive stock market losses. The financial woes is really scary. Even bank deposits are not safe. If world governments did not provide guarantees on the bank deposits, we would have seen a run on a bank every where in the world. Perhaps when making a financial plan, we should also allocate some of our time and wealth to other intangibles which no crisis can take it away.
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