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John Ilhan has died of a suspected heart attack during his morning jog in Brighton, a beachside suburb of Melbourne around 5.30am this morning. Ilhan was 42. John Ilhan was born in Yozgat, Turkey, in 1965, before moving with his family to Melbourne when he was three. He started his own mobile phone shop in 1991. Ilhan grew up in Broadmeadows near the Ford plant in Melbourne's north-west and worked briefly as a salesman at the company — also studying at university and playing in the former National Soccer League — before taking a job with Strathfield Car Radios.

Qantas is looking to bolster their new stand-alone freight arm by looking to purchase Linfox transport logistics. It is tipped that Lindsay Fox will likely demand about $1 billion for the logistics empire. The cash rich airline would still be able to fund the purchase with its own resources and continue with its billion dollar share buy-back. Qantas management, led by its chief executive, Geoff Dixon, and the finance director, Peter Gregg, are understood to favour buying Linfox as the first step to reinforcing its existing air and ground freight arm, before floating the combined entity as a separately-listed public company. This was launched on the back of its record 2006-07 $1 billion profit performance announced just four weeks ago. Mr Dixon, who confirmed in New York on Monday that the freight division was already operating under its new corporate structure, has made it clear Qantas intends to keep majority control of the three large subsidiaries that could be spun off from the main group in the next 18 months. Lindsay Fox, the 70-year-old billionaire founder and his son Peter, who is now chairman of the business, recently indicated they were interested in selling a majority stake to one partner. They are likely to cut their total ownership of the company to between 20 and 40 per cent, fuelling the belief that a Qantas takeover may be in the offing. "[The family] may look for a partner … to go on a journey with them, which is more likely," the chief executive of Linfox Logistics, Michael Byrne, told the business magazine BRW a fortnight ago. In a note to clients yesterday, Merrill Lynch assumed the combined Linfox businesses were making earnings before interest and tax of $80 million. It came to its $1 billion price tag by multiplying that figure by the 12 times earnings forecast on which its major rival, Toll Holdings, is valued by the sharemarket. Purchasing Linfox would propel Qantas to the number two slot in the local logistics and freight forwarding market behind Toll Holdings. Qantas Freight Enterprises, as the business is now known, recently completed its first acquisition overseas, sealing the $50 million deal to buy Singapore-based DPEX Worldwide, which operates in 19 countries, including Hong Kong, Singapore and China. Linfox has also been active overseas and now has businesses in 11 other countries.Qantas (QAN) shares rose 4c yesterday to $5.66.

Carlos Slim is now the world's richest man is worth an estimated $US67.8 billion. This Mexican tycoon has overtaken Warren Buffet and Bill Gates according to a respected tracker of Mexican financial wealth: Eduardo Garcia from Sentido Comun an online financial publication he founded. A 27 per cent surge in the share price of America Movil, Latin America's largest cell phone operator controlled by Carlos Slim, from March to June made him close to $8.6 billion wealthier than Bill Gates (which Garcia figures Gates is worth $59.2 billion).