Speaking of Abandoned Ships, Save the Queen [Mary] Can't Save Itself
By Matt Coker, Thursday, Jan. 29 2009 @ 5:10PM
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Because no bidders came forward to buy a stake in Newport Beach developer Jeff Klein's Save the Queen, Garrison Investment Group, the company Klein previously hired to run day-to-day operations, assumed a 100 percent stake in Long Beach's borderline popular tourist attraction.
Save the Queen bought the ship's lease for $43 million in 2007 after the previous operator, Queen's Seaport Development Inc., filed for bankruptcy. Garrison, which previously loaned Save the Queen $33 million, bid just $25,000 to take over complete ownership rights at an auction held in New York City.
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