The Michigan Daily-Wednesday, July 8, 1981-Page 5
CONSERVATIVES BUYING SEQUOIA FOR REAGAN
Businesses pitch-in for yacht
WASHINGTON (AP)-Fifteen major corporations
have pledged at least $25,000 apiece to keep the for-
mer presidential yacht Sequoia on the Potomac River
for use by President Reagan and other conservative
leaders, an officer of the Presidential Yacht Trust
says.
But Edgar Skinner, head of trust and a fundraiser
for the conservative American Enterprise Institute,
refused to release the names of the companies at this
time. He said they included insurance, manufac-
turing and banking firms.
"We're not going to be publicizing the names of our
major donors automatically until we get permission
from them," Skinner said yesterday. "It's not that
they are being kept secret. It's respecting the
anonymity of the donors. There's no intent for
secrecy."
WHITE HOUSE aides have said that in view of his
proposed cuts in social spending, Reagan has "no
immediate plans" to use the ship, which has been
newly refurbished with silk brocade drapes, emerald-
. .
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green carpeting and silver candelabras.
The 105-foot yacht, which served presidents from
Herbert Hoover to Gerald Ford, was sold by
President Carter in 1977 for $286,000 as an austerity
move. Carter called the Sequoia "an unjustified and
unnecessary frill."
The trust, directed by conservative businessmen,
bought the yacht in Florida last month. The new
owners said the ship is a part of American history
that should be preserved and made available to
Resgan and future presidents.
POTENTIAL contributors were taken for two July
Fourth cruises down the Potomac, but Skinner said
the trips were to show off the ship, not press for
donations.
Michael Doud Gill, a Washington business con-
sultant and member of the trust, said that because of
the generally conservative make-up of the trust's
board of directors, he expects many of the Sequoia's
programs to reflect a conservative point of view.
"You don't find too many people with a liberal bent
who want to get involved in this sort of thing," said
Gill, a nephew of the late President Eisenhower.
ALTHOUGH HAVING served presidents for about
five decades before being sold by Carter, the Sequoia
is perhaps best remembered as President Richard
Nixon's frequent retreat during the days of the
Watergate scandal.
Skinner said that by mid-September, the trust ex-
pects to reach its goal of signing up 50 corporations
and executives to pledge $25,000 a year for up to five
years. At that point, he said he anticipates the list of
contributors will be made public.
The trust plans to raise more than $5 million within
the next five years to cover the ship's $1.1 million
price tag and establish a $4 million endowment to pay
for future maintenance costs.
Besides the 15 corporations that have pledged
money, Skinner said two individuals have agreed to
donate $25,000 a year and about a dozen other
executives were "fairly enthusiastic" about the fun-
draising effort.
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Break-ins in campus area
Three hundred record albums
valuing a total of $2,000 were stolen
from an apartment in the 1500 block of
S. State between 9 a.m. and 11 p.m. on
Saturday, police reported. The thief
gained entry by kicking in the door,
they said.
A break-in on the 300 block of E.
Madison resulted in the theft of stereo
equipment, a television, and coins
valued at $630, police said. The thief
pried the door open to gain entry bet-
ween 9:30 a.m. on Friday and 11 p.m. on
Sunday.
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