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Somali Pirates Practice Inventory Management

Photo: kenhodge13

Somali pirates are apparently getting more sophisticated in their business practices: “A group of Somali pirates announced Sunday that they’re cutting their asking prices for hostages by 20 percent — to speed up the negotiation process, make room for more hostages and take in more cash,” reports Wired.  “We want to free ships within a short period of time instead of keeping them for a long time and incurring more expenses in guarding them. We have to free them at a lower ransom so that we can hijack more ships,” one pirate spokesperson told Reuters.  The discount, however, won’t apply to “the bulk ships [the pirates] are sure can bring bulk money.”