Word: jessop
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...quickly became one of the most lucrative deep-sea salvage missions ever undertaken. By week's end, more than $50 million worth of bullion had been recovered. At current prices, the full trove of the Edinburgh will be worth about $85 million. Said Britain's Keith Jessop, 48, who organized the expedition: "That's one in the eye for all those people who've been calling me a blind fool...
...veteran diver, Jessop runs a salvage firm that has worked in the cold and turbulent North Sea. It took two years for Jessop to find the real position of the Edinburgh. The ensuing $4 million expedition used a vessel equipped with special computers to maintain its position over the wreckage. Divers, working in pairs, were conditioned to the extreme pressures of the Barents Sea bottom in special chambers aboard the ship, then were lowered to the hulk in a diving bell. To protect themselves from the killing cold of the water as they cut through the Edinburgh 's hull...
Both the British and Soviet governments cooperated with the treasure hunters. Under a tripartite agreement, Jessop and his fellow investors will get 45% of the value of the salvaged gold. The Soviets will receive two-thirds of the rest and the British the remaining third. As for the U.S. Treasury, it was paid long ago by insurance...
Steven T. Jessop...
Facing Facts. The man who first suspected how far was Joseph E. Jessop, president of a chain of jewelry stores and the patriarch of a family that has been in San Diego since 1890. In 1959, Jessop, who had already begun to move his own stores out to the suburbs, called together a group of 60 leading businessmen to start facing the hard facts. "Up to this point," Jessop recalls, "San Diego was only penny ante. If you asked them for a contribution, they wrote you a check for $200." Jessop demanded-and got-$100,000 "for a start." With...