Goldstein Investigation: City Sells Off Yacht For Fraction Of What It Cost Taxpayers

Tis is a story of how the city turned a $4.1 million yacht into a $100,000 boat. David Goldstein investigates.

[@Avalanche2]

I bet the person that was the successful bidder was politically connected as well.

[@tonycariello8478]

most DEF

[@grandpaoldfart9165]

ryan mcguinness They sure keep trying though don’t they?! I don’t understand it either Ryan..... I know one thing though. We need term limits for Representatives and Senators. I don’t have the magic number, but perhaps two or three terms and then you’re out??!!! Have a great day! Grandpa

[@dterik]

It was Goldstein lol

[@NAT-turners-Revenge]

u know it... retired police captain

[@tahoeclay]

Guaranteed

[@michaelsanpedro2674]

A sealed bid means that someone in the city is getting it. I helped build a $500,000 home in Yukon Oklahoma for a officer who made $60,000 a year, and he said he paid for it by working the police auctions. This officer who never showed up in the same vehicle twice, or on the same motorcycle, and often was pulling a very large boat with a very large truck bragged to the whole crew that he only pays penny's on the dollar at the police auctions. He told us that the officers get together before the auction and decide how much they're going to pay and what they're going to get so they don't step on each others toes. It made me sick! God bless America 🇺🇸

[@ItsMe-yv9jd]

...it happens here in Canada too, as cops make a fortune with sealed bid real estate auctions.

[@Oheeeoh]

Everybody knows if it floats, flies, or fcks, you're supposed to rent it!

[@marqueemark5917]

nice boat for 100.000 Some city leader must have bought it

[@bonquishaward128]

Replace on corrupt official with another corrupt official

[@nodak0164]

So...how do the rest of us stupid taxpayers sign up for a "free" guided tour? I say "free" because, haven't we already paid for our tickets? Or, have we already been taken for our ride?

[@NicholasLittlejohn]

Port Instagram it seems

[@FreshlySnipes]

We are still on that ride..

[@angelahonolulu8602]

Mr. Goldstein, great job! keep it going.

[@jeffbaca1173]

Of course no one loses a job, demotion or even reassignment, how many of us working taxpayers can waste 20K of the company’s money and still be employed the next day?

[@DebbieZoppina]

The mayor called it a boat not a yacht. Lmao. Crooked as they come!

[@MrWhite-pn7ui]

LOL $1,250 to ferry a bunch of kraut universty students around the harbor, not even LA Residents!

[@noworriesmate8287]

Governmental criminals

[@ScottishNSRailFan]

People in control, want to spend someone else’s money.

[@bigcountry5977]

The problem with Socialism is eventually You run out of other Peoples money to spend. Margaret Thatcher

[@TsarOfRuss]

So let me get this straight... A brand new engine that is cost $700k was installed in the yatch and was never used, yet they still sold it off with the yatch for $100k ????? "THIS IS THE WORST DEAL IN THE HISTORY OF DEALS"- Trump

[@stuwest3653]

I doubt the engine was mentioned in the ad on purpose but someone knew it was in there.

[@SKSnightfox]

Great deal for buyer lol

[@bernieudo4399]

@@SKSnightfox Where can you quintuple your initial investment in just a minute? $100,000 for $500,000? "I Love L.A.!"

[@ItsMe-yv9jd]

...that ridiculous 'Port Director' refused to take responsibility for his departments complete lack of judgement in the past and actually said it's time to move forward, instead of deciding to fire those incompetent and corrupt city officials for fraud, when they bought a yacht with tax dollars and then he secretly sold it, (at less than the current scrap/parts value.)

[@ag-bk5wf]

Thats not a yacht.

[@trinkladd]

Of course. The winning bidder was a politician or friend of. Simple. They. Do this all the time. Sheriff bought new trucks, yr later they were auctioned off. His business partner bought them for their bonding business.

[@BakoSooner]

Theses investigative reports on the city are great. The city needs to know that somebody is watching over them and will be held accountable. Thiey are stewards of our tax dollars. Keep it up and make the city officials feel uncomfortable. Thank you.

[@thegamesource]

My city spent 10s of millions of city tax dollars building a new theater. Then when it failed they gave it to the local college for free. The mayor also sent a cheque for over $1 million to the local college for a new health plex and the college in return for the theater and health plex gave the mayor a diploma which he never earned and the mayor got to make a speech at the college graduation telling everyone he was able to become successful without education and get a diploma and graduate (which was given to him by the college without actually doing the college courses)

[@o221e3]

Yea right, this is like a telenovela lol seriously ?

[@petermokmane5001]

Gotta love the liberals...

[@DIYDanCars]

And people wonder why taxes are so high. This goes on a lot more than people think.

[@robertcanceljr4400]

Thank you Holstein got public display of our money being wasted on

[@gabe-po9yi]

It would be interesting to know what the City's policy is in regards to when property is allowed a sealed bid process. The report said the yacht was purchased by a company that says it will produce hybrid yachts. It would be interesting to know if they're linked to the $700,000 hybrid engine that was installed.

[@ItsMe-yv9jd]

...that ridiculous 'Port Director' refused to take responsibility for his departments complete lack of judgement in the past and actually said it's time to move forward, instead of deciding to fire those incompetent and corrupt city officials for fraud, when they bought a yacht with tax dollars and then he secretly sold it, (at less than the current scrap/parts value.)

[@kills456]

That boat isnt nice at all

[@timothypoole5718]

The Navy has a whole fleet of yachts just like the Angelina for use by Admirals. They call them "barges" for budgetary purposes... You should do a story on them.

[@SumD-EGuy]

Timothy Poole I’ve tried to find what you’re talking about. Could you guide me in the right direction, please?

[@TheAndyharris]

_-Delaware Scrap-_ he can't lol

[@jaxturner7288]

Timothy Poole what Admiral exactly is currently in command of a barge vessel?

[@bokesnmokes]

You are a liar.

[@okiesailor5417]

You are so full of shit, I worked for an Admiral in Philadelphia on and off for a 3 year period. He did not have his own personal 'barge' as you call it , if he did a lot of the dignitary parties he had would have been on that 'barge' instead of every single party being at his on base Quarters.

[@dougfisher9525]

What annoys me the most is when the city gives me some trivial traffic or property fine. Like they dont do 100 times worse.

[@MrChopemup]

The best boat to be on is owned by someone else.

[@notj5712]

4.1 million dollar boat then... That's even worse, for 4.1 mil, you SHOULD at least have a yacht.

[@RashaKahn]

Kinda confused here, so you don’t want the city to have a yacht for the tours because of cost and you also don’t want them to rent boats?

[@IsleOfFeldspar]

No tours should be funded by taxpayers. No matter the reason.

[@american236]

4 million for that ugly yacht is way too much. Someone doesn’t know how to bargain.

[@Tiger-From-Clemson]

4.1 million for that lemon!??😹

[@MrPrush-ji4gs]

Fed government takes in 4.9 trillion last year ... but if it were private enterprises handling the same amount of money, only about 3 trillion - 2 trillion would be needed

[@YaUwAk247]

Lost 4000000 and is renting. 7 to 8 years and the upgrade would be paid and you would own the busted down 70s Gilligan's island yacht. So much for saving the city money.

[@keytothegate68]

The boat is worth 100-200K The issue that the city spent 4 million on it is a separate problem

[@maxbrazil3712]

This is what happens when you combine corrupt politicians with sacks of bribe cash.

[@victoriagriffiths4205]

No matter how you look at it it never was worth 4 million the people who worked on it pocket millions. We not all fools

[@WallyTony]

LOL a yacht. The world really is the Have Nots and the Have Yachts

[@ndn2589]

You know someone got kickbacks from this

[@clementecruz285]

The person that bought it gave the city the idea to renovate the boat and gave them some money under the table then sold it to their buddy……

[@RETROSHADOW2999]

Courtesy of YOU, The Californian Tax Payer

[@o221e3]

He probably wasn't part of the scheme, and just inherited the problem, but most likely got compensated for dealing with it !

[@wolf-mx3jm]

That's what a auction is you bid for it

[@woodswal]

That 4 million didn't go to that boat.

[@emtb9111]

These people can pay for the boat ride!

[@nicholaslarsen6739]

There are so many homeless people in LA! $4M homeless facility would have been a better investment! Shame

[@mikeneumann4660]

The fact that they wanted to make this old 1970s yacht in the green yacht is Another great idea by your government officials who don’t give a shit about our money

[@adrftgvvbh]

City property, is public property. I would go walk around and relax on that "boat"

[@prn24]

My town sold a remodeled spring training baseball stadium for 1 dollar and some land. Fine businessmen that bunch.

[@robertmurillo9662]

Open your eyes. The city does this all the time.

[@chrisradla]

Shocking

[@mr.t8624]

Anybody wonder why California is in the shitter.......? Here’s one of many reasons.

[@Fiberglasser03]

For 100k that is a steal for a brand new hybrid set-up. Boat is a piece a shit, bet it was thrown in the landfill.

[@dancujo5591]

We need to move forward. So sick of that saying. What it really means, my turn to rip off the tax payers.

[@2KMMC2]

They bought that bout with out money and sold it to themselves for dimes

[@afaketwo]

Here is an idea.... Why didnt they buy a "boat" from the auction block.... Would have only cost 100k ??

[@stevebano5874]

WHAT HIGH UP COTY OFFICIAL PURCHASED IT FOR $100'000 AT THE AUCTION...?

[@banditkings1953]

The problem is it's not their money, it's the taxpayer. ATM. need more money go to the public ATM. Nothing but money Hogs!

[@g4fun458]

this is why democratic country will fall lol this what happened on my country. corrupt official everywhere 😅😅😅😅

[@alexsbikesandmotors]

4.1 million to turn it into a hybrid boat whatever that is? You could get the best most modern regular diesel engines for maybe $20k each max. You would have to travel a long way to make up the additional $4 million in fuel costs. Like the other comments say, it's probably money laundering.

[@neversocialist6871]

Good work Goldstein.

[@Joemama13479]

Salome asked the question if it's taxpayers money don't you think we should be able to use that yacht and charter it and go on fishing trips and set sail to Catiline island I see that boat everywhere in the Harbor because I work on the Harbor🤔🤔🤔🤔

[@DeHirvilammi]

WOW CAN I BECOME THE MAYOR

[@alwaysyouramanda]

They should be so happy Americans can’t do math.

[@alwaysyouramanda]

Civil war would have started decades ago.

[@davidwaid7114]

Someone got some nice kick backs

[@wannabetowasabe]

It would seem to me that the Ports of Los Angeles and Long Beach need to be in the marketing business. If they did not promote the ports in a highly competitive market then city officials might be criticized by the media for being too conservative and losing business to other ports with aggressive marketing. The purchase of the Angelina II is questionable, but contracting out tour boats seems reasonable to me. Like the current director indicated, it would take 32 years of chartering boats to equal what was spent on the port owned boat. Perhaps a cheaper boat might have been less costly than contracting out the tours. As for the kind of groups given tours, I don't know the specifics of the Port's marketing and public relations plan to comment. Given the rank of the two ports as far as shipping in the world, public relations and marketing are needed. Give the billions of dollars in freight that passes through them on a monthly basis the budget for those efforts would seem justified. So often the government is criticized for doing something and would be criticized equally for doing nothing. I've worked for the government I have experienced this very thing.

[@mysticvalley2003]

Why the hell are you taking anyone on a cruise? Stay focused that's why they have conference rooms on land....using taxpayer money to buy a boat.../.how the hell did that improve the community?

[@Ops535]

David. U should investigate Sf bayarea Stanley TVshow man

[@rogersmicharl]

someone shouls sank those boats, and if they buy mor sink them too.

[@phizzelout]

now Viragosa wants to be governor.

[@501959bigtony]

Villa Reygosa; "It's not an affair, its a sexual act".

[@californiaccw]

Inside job -inside auction

[@afaketwo]

They should go ask tax payung residents if they even knew about the boat... Or their free rides they were supposed to get.. Nope they are all too busy trying to work for everything they have

[@paulalexander8305]

It seems to me that he went to the same school of economics that Biden went to

[@l.e.o.1127]

Buy a 800 Jon boat for them to use

[@martylynchian8628]

Why not put it on yacht trader or ebay

[@felixniederhauser7799]

USD 100k looks realistic, the 4.1 millions gave someone a nice kick back!

[@spuriouseffect]

Felix Neiderhauser .... A Jeep Wrangler can cost between 50 and 65 grand. Inflation has outpaced you sir.

[@SociallyBrandedMedia]

Who bought it?

[@rolandmoreno3526]

Not justify crooks

[@truth6600]

Wake up people say something do something.

[@NAT-turners-Revenge]

but what about ourrrrrrr homelessssss 😂

[@fontaineking5158]

Probably the x mayor's brother bid on it or some horseshit like that. That's quite a big herd of sheeple that have in LA. Lol. Bunch of suckers!!

[@daytimestudios3678]

Corruption Political, superstars, pro athletes.

[@Saracinderallasushis]

It must have been one of those new liberal auctions, where they take the lowest bid!

[@gino007able]

this is socialism, but we can't say that word.

[@edgarmccarthy4287]

Drain LA Swamp. vote for Edgar McCarthy.

[@Joemama13479]

This guy said it simple map where's the 4 million dollars at🤔🤔🤔🤔

[@oobiegoobie940]

Keep voting for them Democrats.

[@rab6453]

boats are money pits

[@guitarforlife238]

this is so funny because it’s not “my money” i’m not dumb enough to live in california but if you ever aren’t sure how you feel on expanding goverment in anyway without seriously considering all aspects of that decision just watch any of this guys video california is so fucked

[@search5819]

Don't Complain.. Learn The Game!!!!!!!

[@gavinmcinally3073]

Only in the land of the free

[@manleynelson7412]

seroka is right

[@Seattlemike009]

Asholinos

[@rolandmoreno3526]

Move forward please