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Frese was born in Denison, Iowa and graduated Phi Beta Kappa with a degree in economics from the University of Iowa in 1928. He then earned a master's degree in accounting from the University of Illinois and went on to become a Certified Public Accountant...

Author: By Joseph R. Palmore, | Title: Accounting Professor Walter F. Frese Dies | 11/16/1987 | See Source »

...starter, or "yuppie special," that sells for $2 million. The typical buyer is a fast tracker between 35 and 40 who yens for something more than an "off the peg" Hatteras 61-footer. "I just got a personal check in the mail for $1.3 million," says Ken Denison, vice president for new boat sales and construction. "The guy said it would be O.K. We looked into it, and it was. One of the things about this business is that we don't have to talk financing...

Author: /time Magazine | Title: Living: High Life Afloat: Superduper Yachts | 9/7/1987 | See Source »

Many of his customers return within three years to trade up to a superyacht. "Twenty-five years ago, a 120-footer was for kings and princes," says Denison. "Now the average boat we build is 90 feet." As for size, which matters greatly to yacht owners, King Fahd of Saudi Arabia owns the world's biggest yacht, the 482-ft. Abdul Aziz, which includes a mosque and a movie theater that seats 100. Because the King's yacht is currently in drydock, the unquestioned ruler of the waves is Queen Elizabeth's 412-ft. Britannia...

Author: /time Magazine | Title: Living: High Life Afloat: Superduper Yachts | 9/7/1987 | See Source »

Designers who favor aluminum hulls maintain they last indefinitely, hold three times as much fuel as fiber glass-hulled boats and are 15% faster. The American buyer wants a boat that looks "like it's going 20 knots when it's sitting at the dock," explains Denison. Perhaps the most stunning example is the Bannenberg-designed, 110-ft. Never Say Never, owned by Gary Blonder, a flamboyant entrepreneur who made his fortune in used auto parts. This rocket ship skims the waves at 34 knots full throttle (about 39 m.p.h.) and was used as a setting on Miami Vice...

Author: /time Magazine | Title: Living: High Life Afloat: Superduper Yachts | 9/7/1987 | See Source »

Interiors have also been updated. Instead of the traditional dark teak, many modern designers prefer the pale look of ash and pastel fabrics to lighten below-deck cabins. They often pad walls with Ultrasuede or leather for sound control. Denison's boatyard allows customers to supervise every detail right up to the track lighting. Bannenberg even designs every spoon, every ashtray...

Author: /time Magazine | Title: Living: High Life Afloat: Superduper Yachts | 9/7/1987 | See Source »

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