Interesting story of justice possibly not being served. Kind of a social justice, 99% vs the 1%. As he put it, all the money was accounted for. It was all on the books. He didn't steal or defraud anybody.
https://en.m.wikipedia.org/wiki/Dennis_Kozlowski Who would come after the boat? The judgement was for ~200 million in restitution. He claims to have been making 100 million a year. He probably had plenty of assets to simply pay the fees. If I had to guess, the yard was holding the project until he got out of jail which was in 2014. He may have been struggling with how/when to complete the project or may have simply fallen out of love with it. Projects like that are paid for in installments so that neither party is taking on too much liability. It is likely that the time and materials are paid in full and now he's just dumping it. I heard that aluminum is not getting high returns as scrap but maybe the $50k is just the balance of its scrap worth. Josh Muckley S /V Sea Hawk 1989 C&C 37+ Solomons, MD On Mar 8, 2018 8:39 PM, "Neil Gallagher via CnC-List" <cnc-list@cnc-list.com> wrote: > Actually, it was a casualty of Dennis Kozlowski, of Tyco fame, to be > precise. Derecktor was building that for him when he was indicted and went > to jail, for some reason they never came after the boat, so it's been > sitting in the yard ever since. I'm guessing they're cleaning up the yard. > > Neil Gallagher > Weatherly 35-1 > Glen Cove, NY > > > On 3/8/2018 3:14 PM, Bill Coleman via CnC-List wrote: > > https://www.ebay.com/itm/2003-Derecktor-150-/112851368479? > roken=cUgayN&_mwBanner=1 > > > > Anyone interested in finishing up a nice new Aluminum Hull for somewheres > North of 50 grand? > > Must have been a casualty of the Dot-com bust. > > > > > > Bill Coleman > > C&C 39 Erie > > > > > _______________________________________________ > > Thanks everyone for supporting this list with your contributions. Each and > every one is greatly appreciated. If you want to support the list - use > PayPal to send contribution -- https://www.paypal.me/stumurray > > > > _______________________________________________ > > Thanks everyone for supporting this list with your contributions. Each > and every one is greatly appreciated. If you want to support the list - > use PayPal to send contribution -- https://www.paypal.me/stumurray > > >
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