Billionaire Kills Self Over Financial Crisis AP
Financial Crisis BERLIN (Jan. 6) - German billionaire Adolf Merckle has committed suicide after his business empire, which included interests ranging from pharmaceuticals to cement, ran into trouble in the global financial crisis, his family said Tuesday. The 74-year-old's body was found Monday night near railway tracks at Blaubeuren in southwestern Germany, prosecutors in nearby Ulm said in a statement. They described the death as a "railway accident" and said there was no evidence that anyone else was to blame. His family, which had reported Merckle missing after he failed to return home Monday, issued a brief statement saying he took his own life. "Adolf Merckle lived and worked for his family and his firms," it said. WHILE IN CAMBODIA REMAINS OCCUPIED BY VIETNAM. Oct. 21, 1986 The UN General Assembly adopted a resolution A/RES/41/6, by vote of 116-21 with 13 abstentions, calling for a withdrawal of Vietnamese forces from Cambodia.As of today, Cambodia is still occupied by the Vietnamese troops despite the call from the US president to Vietnam to cease her occupation of Cambodia since 1988. Cambodia needs Independence from Vietnam and the Vietnamese invaders. America calls Vietnam to restore Cambodia Independence .President Reagan's address to the 43d Session of the United Nations General Assembly in New York, New York . September 26, 1988. "Mr. Secretary-General, there are new hopes for Cambodia, a nation whose freedom and independence we seek just as avidly as we sought thefreedom and independence of Afghanistan. We urge the rapid removal of all Vietnamese troops ...."THE CHINESE LEADERS REMAINS SILENT ON THIS ISSUE , ALLOWING THE VIETNAMESE TO OCCUPY CAMBODIA AGAINST THE 10 UN RESOLUTIONS, WHILE CHINA HAS PROMISED SIAHNOUK TO SUPPORT THE INDEPENDENCE OF CAMBODIA ?THE CHINESE COMMUNISTS LEADERS ARE LIARS VIS A VIS THE CAMBODIAN PEOPLE.Bury=============================================================== FURTHER READING : "The distress to his firms caused by the financial crisis and the related uncertainties of recent weeks, along with the helplessness of no longer being able to act, broke the passionate family businessman, and he ended his life," it said. Merckle's business interests included generic drug maker Ratiopharm International GmbH and cement maker HeidelbergCement AG. His holding company, VEM Vermoegensverwaltung, recently had been in talks with banks to secure credit after its business interests ran up high levels of debt, and also lost value amid the global financial crisis. In addition, the holding company recently said it had suffered heavy losses on shares of automaker Volkswagen AG, which fluctuated wildly last fall as fellow car maker Porsche SE moved to increase its stake in the company. Merckle helped turn his grandfather's chemical wholesale company into one of Germany's biggest pharmaceutical wholesalers, Phoenix Pharmahandel, in which he held a 57 percent stake. He used his wealth, estimated by Forbes last year to be $9.2 billion, to take stakes in HeidelbergCement and Ratiopharm. Merckle also owned stakes in companies that made a wide array of goods from all-terrain vehicles, software to textiles. Despite his wealth and prominence in corporate Germany, Merckle mostly avoided publicity. He is survived by his four children. Copyright 2008 The Associated Press. The information contained in the AP news report may not be published, broadcast, rewritten or otherwise distributed without the prior written authority of The Associated Press. Active hyperlinks have been inserted by AOL. Send e-mail anywhere. No map, no compass. Get your Hotmail® account now._________________________________________________________________ It’s the same Hotmail®. If by “same” you mean up to 70% faster. http://windowslive.com/online/hotmail?ocid=TXT_TAGLM_WL_hotmail_acq_broad1_122008 --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Cambodia Discussion (CAMDISC) - www.cambodia.org" group. This is an unmoderated forum. Please refrain from using foul language. Thank you for your understanding. Peace among us and in Cambodia. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [email protected] For more options, visit this group at http://groups.google.com/group/camdisc Learn more - http://www.cambodia.org -~----------~----~----~----~------~----~------~--~---
