Some Quick Math

The owner of the company that owns the Egyptian Ferry that sank has been all over the news in Egypt repeating that he will give the families of those who drowned because of his employees' betrayal 150,000 [$26,000] per lost victim. The media inform us that this sounds really "big of him" considering that there was more than 1000 people who were lost in this tragedy, and normally when egyptians die in such accidents no one pays their families shit. That is, of course, until you do some quick math... The insurance policy on the ship- according to El Destour- stated that the Insurance company would pay his company $30,000 per victim, and for him to dispense it to the victims himself. Now, let's do some quick math: $30,000-$26,000= $4000. $4000 x 1000 victims = $4,000,000 dollars that the company is keeping to itself from money it should be giving to the families of the victims. That's EGP 23,000,000 million profit, over the other $4 million dollars he will get from the Insurance company in compensation for the sunken fairy. And let's not even think about how the man will not be obligated to pay the victims' families the other 150,000 EGP unless they show him a death ceritificate of their lost member, and since the Egyptian Law states that you can not issue such a certificate without a deadbody, and most of the dead bodies have not yet been recoverd, the man can keep the majority of the money himself for at least 5 more eyars, since that's how long it takes for the Egyptian law to declare a missing person to be officially dead. And people were wondering why the man was so calm and understanding on TV when they mentioned to him how the families of the victims destroyed the offices of his company. Bastard!