Nick Popovich is a repo man, but not of cars. If an individual, or a company, falls too far behind on their airplane payments, the bank may call Popovich to bring back the bird. He's the proprietor of Sage-Popovich, whose repo pilots have repossessed some 1,200 planes. From Air & Space Magazine:
In Russia and Colombia, where foreigners can be kidnapped, the company rolls with bodyguards. The extra muscle is strictly for self-defense, however. If repo resistance escalates to the physical, “you just have to walk away,” Popovich says."Grab the Airplane and Go"
Well, he says that now. During a repo in the mid-1980s, both sides got physical. A U.S. financier had hired Popovich to snatch a Boeing 720 from a tour operator in Haiti who was in default. Though the aircraft had a book value of only $600,000, an airport manager refused to release it unless a million dollars was deposited in a Swiss bank account. Having made arrangements with an entrepreneurial Port-au-Prince airport employee, Nick showed up around midnight with an air starter (720s lack an onboard auxiliary power unit to start engines). The field had been closed for hours when the team fired up the big turbofans. As he began adding power, Popovich says, “I saw the first tracer rounds streak over the top of the airplane.”
He veered to a stop and Haitian troops swarmed the airplane, bayonetting fuel cells in the wings. “I got out and shoved one of them,” Nick says with a sigh. “The rest of them beat the hell out of me and threw me into the national penitentiary in downtown Port-au-Prince. A dirt-floor cell with no roof and 35 people in it.” In addition to the million-buck drop in Switzerland, the Haitians wanted $150,000 to release Popovich. “The American embassy did nothing for me,” he grumbles. A week later, however, the regime of dictator Jean-Claude “Baby Doc” Duvalier collapsed. The prison gates were thrown open. “Everyone ran out into the street,” Nick laughs. “But that plane is still down there today. The only commercial aircraft that got away from us.”
Wells Fargo made a habit of firing employees who didn’t make unrealistic sales targets, turning a blind eye to the fraud they had to commit in order to keep their jobs (and firing the whistleblowers who reported the fraud).
The winner-take-all economy has turned virtually every industry into a cartel (four record labels, two cable companies, two phone operating systems, etc) who operate without fear of competition regulation, allowing representatives of a few companies to gather in closed-door meetings to cook up operating agreements that end up having the force of law.
Wang Jianlin made billions speculating on Chinese real-estate; now that he’s diversified into buying Hollywood movie studios and chains of movie theaters, the richest man in China is prepared to say what many have known: the Chinese property market is a huge, deadly bubble that’s ripe to burst.
Amazon’s Audible is hands-down the most popular place to find audiobooks. With its library of over 180,000 books, Audible has the biggest audiobook selection in the world, and a membership gets you a free book each month. You can sync Audible across multiple devices, so you’ll never lose your spot whether you’re on your computer or your phone.This […]
#1. A-Audio Legacy Noise Cancelling Headphones with 3-Stage Technology The A-Audio Legacy Headphones are the Boing Boing Store’s best seller this month, and it’s easy to see why. With 40mm drivers, powerful circuitry, and memory foam padded circumaural ear cups, these are clearly super high-quality headphones. Plus, the patented 3-Stage Technology lets you toggle between passive […]
Vaping is getting more mainstream by the day, which means there’s been an influx of quality yet affordable vaporizers on the market. We’re particularly excited about the APX Wax Vaporizer Kit, which is an easy-to-use, high-quality vape that works with both dry herbs and waxy concentrates.If you’re a beginner trying to get into vaping, the APX […]