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Well-known real estate mogul dies in boat crash

Steven Posner, a Florida real estate tycoon and the son of Victor Posner, a millionaire businessman who Economist magazine called a "pioneer of the hostile takeover," died Monday in a go-fast boat crash on Miami's Biscayne Bay.

Posner, 67, was killed, along with another man. Posner's 44-foot high-performance catamaran was apparently trying to overtake a friend's go-fast cat when they collided during an afternoon run on a clear day.

"Whenever he could, he loved to be out on the water," Posner's daughter, Dr. Kelly Posner Gerstenhaber, told the Miami Herald. "He liked boating and fast boats. He died doing something that he loved.''

The other vessel was Mixed Emotions, a 46-foot power cat with twin 1,200-hp engines. Owner and operator Fritz Eigelshoven suffered rib injuries and was taken to a hospital. A witness estimated that Mixed Emotions was traveling at 80 to 90 mph.

Click here for the full Miami Herald report.

"There is no speed limit when you are on the open sea outside controlled conditions," Jorge Pino, a Florida Fish and Wildlife Conservation Commission spokesman, told the local CBS news station, "but you have the responsibility to be very careful."

Click here for the CBS 4 report.