Friday, March 19, 2010

Repo Man For Yachts, Gulfstream Jets

Today's Wall Street Journal profiles a man who repossesses the toys of the ultra-rich, like yachts and Gulfstream jets, that you can read HERE.  Among the interesting tidbits in the article, I thought, were:

  • He once repossessed a racehorse.
  • "He estimates that 70% of his targets made and lost their money from real estate—either as developers, Realtors or contractors. Most of his jobs are in Florida, Arizona, California, Nevada..."
  • "Mr. Craft prides himself on being able to break into just about anything, whether boat, plane or RV. Not that planes or yachts are that hard to steal. Mr. Cage says most yacht owners keep their keys near the ignition and rarely lock the doors. Plane doors can often be easily picked. 'A jet is much easier to take than a car,' he says."

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