Imagine you’ve just spent $200 million on a new yacht and find – what’s this? – you have no place to park it! According to the Times last week . . .
Many megayachts have grown so big – sometimes as long as a football field – that their very size rules out docking at most marinas, which don’t have large enough slips to accommodate them. . . .
More and more, limitations like these are frustrating the growing megayacht crowd. In recent years, the production of these nautical behemoths, which range from 80 feet to more than 200 feet and can easily cost as much as $200 million, has been outpacing the availability of dockage long enough or deep enough to accommodate them.
There are an estimated 7,000 motor yachts over 80 feet long in use, said Jill Bobrow, editor in chief of ShowBoats International, a yachting magazine. That’s up from about 4,000 a decade ago.
“Boats are getting bigger and bigger,” Ms. Bobrow said. “It used to be that 200 feet was big. Now the largest boats are 400 feet.” Contracts for motor yachts 150 feet and larger increased 15 percent, to 118 from 103, in 2005, according to ShowBoats International. Of those 118, 33 percent are more than 200 feet.
The rich-poor gap grows ever wider, as taxes are slashed for the rich . . . tax credits withheld from the poor (see: Thursday) . . . cost-of-living adjustments perpetually denied for the minimum wage . . . bankruptcy laws tightened for victims of catastrophic illness (among others) . . . and on and on.
It is a grand time to be rich and powerful in America.
Click here for Bloomberg.com on a piece of this growing gap. In part:
American workers have rarely taken home a smaller share of the nation’s prosperity . . . After 16 consecutive quarters of economic growth, pay is rising at a slower rate than in any similar expansion since the end of World War II. Companies are paying less of their cash gains in the form of wages and salaries than at any time since the Great Depression, according to government figures.
But never fear: CEO pay was up 12% last year. One CEO I know made north of $150 million. It really is a grand time to be rich and powerful in America.
They used to say, ‘What this country needs is a good five cent cigar.’ Now, with the health hazards of tobacco widely known, I think we can say, ‘What this country needs is a bigger tax break for the mega-rich, paid for by more debt.’ Vote Republican!
Judy: ‘Re: the ‘CBS Sunday Morning’ video, I can attest from personal experience that the brain can actually create new pathways. I’m a cerebral aneurysm survivor (28 years) and had severe brain damage. I relearned to walk, talk, write, brush my teeth . . . practically everything. No one told me I couldn’t to something and I’m tenacious enough to keep trying until it’s accomplished. The NY Times crossword puzzle was invaluable for the cognitive stuff. This program sounds terrific.’
Kathi Derevan: ‘You are reading my 56-year-old mind. After a recent Time Magazine article on the subject, then yesterday’s Sunday Morning show, I was all but ready to find the home version and buy it. And now with your recommendation, not to mention $100, I’m in.’
☞ Enjoy your workouts, Kathi.
WHY DIDN’T I THINK OF THIS!
Gary Diehl: ‘Your promotional coupon code for $100 off the Brain Fitness Program [gn0604a] reminded me: Many sites these days have a place in their checkout for a coupon code. Whenever I see one of these I immediately tab over to Google and look for one using the company name and ‘coupon’ to search. Almost always find one. I’ve found codes worth up to a $100 off an item or service I had already decided to buy.‘
Quote of the Day
October. This is one of the singularly most dangerous months to speculate in stocks. Others are November, December, January, February, March, April, May, June, July, August and September.~Mark Twain
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