The Economy: Literally Abandoning Ship

From the NY Times:

Boats Too Costly to Keep Are Littering Coastlines

They often sandpaper over the names and file off the registry numbers, doing their best to render the boats, and themselves, untraceable. Then they casually ditch the vessels in the middle of busy harbors, beach them at low tide on the banks of creeks or occasionally scuttle them outright.

The bad economy is creating a flotilla of forsaken boats. While there is no national census of abandoned boats, officials in coastal states are worried the problem will only grow worse as unemployment and financial stress continue to rise. Several states are even drafting laws against derelicts and say they are aggressively starting to pursue delinquent owners.

Some are doing it because they can no longer afford the upkeep (mooring fees, maintenance, etc.) and others are doing it to collect on the insurance, as well.

In other yachting news:

Federal agents seize Madoff's Palm Beach, Fla., mansion just hours after taking his yacht


The Young Swell said...

Whatever happened to that fandango I used to hear people waxing lyrical, saying the sea was the last place where a man could be free?

Better moor up a bunch and use them for temporary housing of derelicts arrested for vagrancy . . . a 21st Century echo of the 18th Century Hulks from Dicken’s “Great Expectations.”

Connecticut Man1 said...

That might be an interesting temporary solution to the homeless crisis.