This is a thought that I've had for quite a while, but felt that it would be incredibly awkward to ask a senior person this. Bear with me:
How do you think senior, really successful people (e.g. BSDs such as Eddie Lampert) protect themselves and their families from kidnappings? I could easily imagine these people getting taken after a late night in the office, later having to pay a several million dollar ransom. In Lampert's case, he got lucky, but what about other people? How would you guys handle that risk?
Most insurance companies sell policies that cover kidnappings. Also, we do not live in freaking Mexico lol
Lampert didn't get lucky, he just outsmarted the morons who kidnapped him. They had him in a hotel room and Lampert offered to buy the kidnappers delivery pizza... on his credit card. lol fucking morons. Lampert now has a full on security detail at his office and maybe elsewhere.
My dad used to be GM of Central and South America for a F500. There's no way to prevent any of the kidnapping/extortion that goes on but this is what he told me about how he dealt with it.
When he would travel to some of the less desirable countries (think Columbia, Mexico, Bolivia) he would would fly via private jet announced with a helicopter waiting on the tarmac. The pilot wasn't told where he was going until my dad got on the chopper and once the meetings were done the chopper would take him right back to the airport.
The man has some truly great stories about dealing with government officials and distributors who get pretty peeved when you switch distributors and go with their competitor.
The company also had a slush fund which was used to pay randoms. Usually the kidnappers couldn't get high level people so they would kidnap sales reps for 10k-20k ransom a piece.
Haha, I didn't know Lampert freed himself by being so generous lol. Everything I have read about it just says he convinced his abductors to let him go. I'm reminded of the kidnapping of J. Paul Getty's grandson. A ransom note was sent but Getty refused to negotiate with the kidnappers. A few weeks go by and another ransom note is sent along, this time with a human error. Getty still didn't budge. I forgot the whole story but he eventually did make some sort of payment to the kidnappers and his traumatized grandson was released. An interesting guy to say the least.
http://en.wikipedia.org/wiki/Miguel_Caballero_(company)
and wow, now they have it for children: http://blog.foreignpolicy.com/posts/2013/01/04/colombias_bulletproof_ta…
I've still got my Disney phone, so I'm safe!
http://usatoday30.usatoday.com/tech/columnist/edwardbaig/2006-07-26-dis…
[quote=BTbanker]I've still got my Disney phone, so I'm safe!
http://usatoday30.usatoday.com/tech/columnist/edwardbaig/2006-07-26-dis…]
I've still got my Disney phone, so I'm safe!
http://usatoday30.usatoday.com/tech/columnist/edwardbaig/2006-07-26-dis…
dont they have life alert? i would imagine by the time they get kidnapped would be around the time they are nearing having a heart attack so makes sense
There's really not much you can do to mitigate the risk outside of armed guards, but most BSDs in sketchy areas carry K&R policies that payout the ransoms when it happens.
Anyone who is interested in this should look up re: Julius Caesars kidnapping and ransoming by pirates. Guy set the standard of how to be a bsd ransom.
Companies will take out K&R insurance on key men often without their knowledge, and that seems to mitigate most of the risk if it's actually something you'd perceive as a problem for your C-suite or whoever. But I'd say most people who are rich Wall Street types like a Jamie Dimon or a John Paulson probably aren't even known by the types of people who'd want to kidnap a billionaire in the first place. I certainly wouldn't know David Einhorn was worth a billion dollars if I saw him in a dark alley wearing his goofy ass poker jacket, so I doubt it's really an issue for most people...
And the Lampert story is so epic, by the way. Didn't know that about the pizza thing.
My friends parents have kidnapping insurance on him and on themselves. All the big hedge fund/PE guys have it. It's mainly for ease of mind
If you are too poor or too cheap for insurance or body guards open carry if your state allows it. If not get a concealed permit.
How difficult is K&R fraud? I mean, they can't really prove anything.
This is why you don't tell your employees they have it.
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