Thoughts on the military and military activities of a diverse nature. Free-ranging and eclectic.

Monday, July 30, 2007

Mosquito III. [Conclusion]

This is coolbert:

The American capitalist/entrepreneur Kirk Kerkorian currently possesses one of the greatest fortunes known to mankind. Estimated to be worth $15 billion.

A master of the leveraged buyout [?]. Acquires a firm by buying controlling stock in a business enterprise, remodeling, restructuring, and finally selling his acquisition for a huge profit.

"Kerkor "Kirk" Kerkorian (born June 6, 1917) is an American billionaire, and president/CEO of Tracinda Corporation, his private holding company based in Beverly Hills, California. Kerkorian is known as one of the important figures in shaping the city of Las Vegas, Nevada and, with architect Martin Stern, Jr. the 'father of the megaresort.'"

[Kirk is also a philanthropist of the highest order. Contributes in a very significant manner to Armenian causes [Kerk is an Armenian-American]]

A man whose career has been often intrinsically related to the field of aviation.

Also an aviator of considerable talent in his own right!

[Kerkorian at one time acquired a controlling interest in TWA. Kirk KNOWS aviation!]

Acquired “seed money” for his various future capitalist endeavors very early in his flying career. Ferrying Mosquito aircraft, newly manufactured, from Canada to England during World War Two [WW2]. Mosquito aircraft needed in a dire manner by the RAF. NEEDED FOR COMBAT OPERATIONS NOW! Had to be delivered from the factory to the aerial battlefield in the most expeditious manner. Being flown across the north Atlantic, by a single pilot, on a non-stop [?] flight that was a downright dangerous enterprise just unto itself.

"After the war, having saved most of his wages, Kerkorian spent $5,000 on a Cessna. He worked as a general aviation pilot . . . in 1947 paid $60,000 for Trans International Airlines . . . He then bid on some war surplus bombers . . . Gasoline, and especially airplane fuel, was in short supply at the time, so he sold the fuel from the planes' tanks, paid off his loan - and still had the airplanes."

Kerkorian would receive $1,000 per flight!! Successfully make the ferrying run and receive what was at the time a princely sum!!

[such a monetary reward was well earned. To fly solo across the north Atlantic at that time was a very dangerous proposition! The slightest problem, inclement weather, navigational error, mechanical failure, and YOU WERE DEAD!!]

Consider this! Even very early in his life, Kerkorian was a person who displayed considerable talent, using measured audacity during these dangerous ferrying flights.

"Mosquito's fuel tank carried enough fuel for 1,400 miles, while the trip directly was 2,200 miles. Rather than take the safer route Montreal-Labrador-Greenland-Iceland-Scotland route . . . Kerkorian preferred the direct "Iceland Wave" route which blew the planes at jet-speed to Europe . . . The fee was $1,000 per flight, but the statistics were that only one in four completed the journey. In May 1944, Kerkorian and his Wing Commander J.D. Woolridge rode the wave and broke the old crossing record. Woolridge got to Scotland in six hours, 46 minutes; Kerkorian, in seven hours, nine minutes. In two and a half years, Kerkorian delivered 33 planes"

[I think it would be generally conceded that persons in the business of leveraged buyouts/venture capitalism HAVE TO BE gamblers able to take risk and accept a high degree of danger in doing so. Gutsy individuals!

Kirk kan do!




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