Tuesday, December 19, 2006

RedBankGreen Covers the Hovnanian Debacle

RedBankGreen has a write up about Hovnanian's earnings report. Needless to say, the results were pretty bad and the outlook for 2007 is worse than originally expected.

Do any long time Shore residents remember a story from about the early 90s involving a Hovnanian owned yacht, a fire and a 20,000 feet mid-Atlantic abyss? I have a fuzzy memory of a very expensive boat being lost at sea many years ago after all hands were rescued; can anyone remember more about this incident?


Anonymous Anonymous said...

The yacht no. But the moored sail boat across from Starvation island in '01, yes. Such a shame. Ara was always generous and treated me well. WTF, It was his flunkies like Mark H and Mark V that made it unbearable working there. How many times did Mark V wreck a company truck by the way? I wonder what his breathaliser test read?

Tuesday, December 19, 2006 9:24:00 PM  
Anonymous Anonymous said...

I recall the incident - but barely as well. I know there was a fight between them and their insurance company who wanted to salavage the sunken boat. I THINK they eventually did raise it.

Anyway, there's a NYTIMES article buried behind the Select Firewall..

6 Rescued After 'Bulletproof' Ship Goes Down

August 15, 1992 Six men were rescued today after their boat, perhaps the world's largest private sport fishing vessel, sank about 100 miles southeast of Cape May in bad weather. The Lady Anna began taking on water shortly after midnight, said Petty Officer Jim Krause of the United States Coast Guard. The ...

Anyway, when I saw a picture of this thing I was amazed at the pomposity that this thing represented. It made Rodney Dangerfield's Caddy Shack boat look like the Flying Wasp.

Tuesday, December 19, 2006 9:49:00 PM  
Anonymous Anonymous said...

Mike Villane...... Opinions anyone?

Wednesday, December 20, 2006 12:37:00 PM  
Anonymous Anonymous said...

maybe mark vetch. that's my pick.

Wednesday, December 20, 2006 4:08:00 PM  

Post a Comment

<< Home