Brand Titanic

For one businessman, raising the Titanic might sink his political career

Australia's Clive Palmer is a businessman who thinks big. He is also a big spender. Last year, the billionaire mining magnate reportedly sent 750 employees on an all-expenses paid holiday to Fiji, headlined by a $2 million (Dh7.3 million) party. He also gave away 50 Mercedes.

Perhaps it should not be surprising, then, that Mr Palmer is again looking to splash some cash. This time he plans to build a full-scale replica of a doomed ocean-liner that sunk 100 years ago this year.

Mr Palmer says he isn't looking to correct history by building a better Titanic. "It will be every bit as luxurious as the original Titanic," he told the Sydney Morning Herald. "But of course it will have state-of-the-art 21st century technology and the latest navigation and safety systems." Good thing. The first attempt was powered by steam and, apparently, somewhat lacking in iceberg-warning systems.

But for a businessman who seems to have done just about everything right, building Titanic II seems a terrible way to tempt fate. Observers in Australia may assume Mr Palmer has gone off the deep end. And they may be correct. On the same day he unveiled his titanic scheme, Mr Palmer officially announced plans to run for election in Queensland. Is there any faster way to sink a promising career in business than by entering politics?