Russians found dead aboard yacht in Panama
Published: 04 June, 2009, 14:25
Two Russian amateur yachtsmen died on Wednesday from an unknown cause aboard their ship at light anchorage in the Pacific, close to the entrance of the Panama Canal, reports ITAR-TASS news agency.










Wow. My god! what happened? That's a very sad news. I have another bad news. The Genmar bankruptcy will be making waves (cheap pun) in the marine world. The company filed for bankruptcy, and the Genmar bankruptcy means bad news for the luxury yacht industry. Perhaps they'll hold a wake for it. Emergency loans weren't enough to stave off the filing, as Genmar Holdings, the parent company, had to file as there wasn’t enough cash to maintain Carver Yachts and other subsidiaries, as too much was owed to unsecured creditors and unsecured creditors, and they will be heading into U.S. Bankruptcy Court soon enough. Luxury toys, like yachts, are discretionary spends, and the first to go in recessions.