THE BUSINESS OF PIRACY—A STOCK EXCHANGE.

THE BUSINESS OF PIRACY—A STOCK EXCHANGE. One of the growth industries in these difficult economic times is the piracy based in Somalia. Avi Jorisch had a report in the Wall Street Journal June 16) on the recent business success of the pirates. Off the coast of Somalia first quarter results show that there were 97 successful attacks in 2011 compared with 35 in first quarter 2010. The pirate stock exchange which was opened in 2009 in Harardheere, Somalia now has listings for over 70 entities. Investors on the exchange share in the profits of a successful operation.