Hedge Fund Manager & Daughter Missing in Panama Plane crash

Discussion in 'Wall St. News' started by WallstYouth, Dec 25, 2007.

  1. California hedge fund manager, his daughter and her friend were among four people on a small plane that went missing in Panama, the man's ex-wife said Tuesday.

    Michael Klein, 37, and daughter Talia, 13, in an undated photo, were aboard a plane that went missing in Panama.

    Kim Klein told The Associated Press that bad weather and other obstacles were preventing rescue crews from looking for the plane, which may have crashed in the western province of Chiriqui.

    Klein told The Associated Press during a phone interview from Boquete, Panama, that her former husband, Michael, was aboard the Cessna 172, along with their daughter, Talia, her friend Francesca Lewis of Santa Barbara, California, and a Panamanian pilot, Edwin Lasso.

    Michael Klein, 37, is the chief executive officer of Pacificore LLC, a Santa Barbara-based company that manages several hedge funds. He was on vacation with his 13-year-old daughter and her 12-year-old friend at Islas Secas, an eco-resort that he owns, Kim Klein said.

    The plane was last reported seen Sunday when it left from Islas Secas off Panama's Pacific coast and was heading for the Chiriqui volcano, about 285 miles west of the capital.

    The flight usually would have taken about 45 minutes, but controllers lost contact with the craft at about noon Sunday.

    Rain and fog hampered the search for the missing plane on Monday, officials said. The U.S. Embassy in Panama was closed for the holidays, making it difficult for Kim Klein and others to get help.

    "We haven't found the plane yet. We have an idea of where it could be, but the weather isn't helping," said Roberto Velasquez, director of Panama's civil defense agency

    Klein said she is offering $25,000 to anyone who can locate the aircraft.

    "We really need anyone we can find to give us some ground help, any assistance to find them," Klein said.

    She said the group was scheduled to return to California on Christmas Eve.

    Michael Klein founded two companies in the 1990s before becoming president and CEO of eGroups Inc., which was the world's largest group e-mail communication service. Yahoo Inc. purchased eGroups for $450 million in August 2000 and is now known as Yahoo Groups.

    src: http://www.cnn.com/2007/WORLD/americas/12/25/panama.plane.ap/index.html

    Notice how the wife only put up $25,000 for the rescue what a bitch I bet she has no incentive of finding her husband.
  2. Biog


    Notice how the wife only put up $25,000 for the rescue what a bitch I bet she has no incentive of finding her husband. [/B][/QUOTE]

    :D :D

    My thought exactly!

  3. :D :D

    My thought exactly! [/B][/QUOTE]

    I would guess she cares about finding her daughter.

  4. 9999


    This is really sad.
    But taking off in a C172 with 2+2 ppl on board in crappy weather is asking for troubles.
  5. Icarus5


    Why? Is it a very small plane? Not good for flying in bad weather?

    (I'm always confounded by people who have so much to lose in life putting themselves in peril like this ... the list is endless)


  6. selecto

    selecto Guest

  7. Good - less competition for me to compete with, lolerskatez
  8. 9999


    That plane has indeed good flight characteristics, but it's not really suited for bad weather - of course, it depends from the severity of it. Plus, it's usually underpowered. The guy didn't put himself and his daughter in peril willingly, he simply trusted the pilot. The pilot put himself in a situation he couldn't manage - and I'm afraid he bought the farm.
    That's my speculation from the article above. I sincerely wish they'll be able to find them all alive. Keep in mind that airplanes and flying are extremely safe (the C172 is a really sturdy machine), much more than cars - as long as the pilot knows what he/she's doing.
  9. Biog


    I would guess she cares about finding her daughter.

    John [/B][/QUOTE]

    Yes, of course she does. That's why she only offered 25K.
  10. Icarus5


    Her friend was found and is in the hosptial, everyone else passed in the crash. :(

    #10     Dec 25, 2007