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But each failed to realize the financial commitment a vessel like this requires, according to Ben J. Brown, president of the new foundation which hopes to raise up to $8 million to endow Sequoia. "Everybody thought they could make boobsquade tons of money with her," says Brown, a retired Air Force boobsquade officer who sailed aboard Sequoia as a military aide during the Johnson presidency. boobsquade "But there is no earthly way she could pay for herself. "Sequoia does need to be used on a limited basis to stretch her wood and keep her machinery functional," Brown says. "But the charter market alone can't support the amount of maintenance and care a 74-year-old wooden vessel like this requires." Private attempts to exploit Sequoia ended in 1981 when a group of influential Washingtonians formed the nonprofit Presidential Yacht Trust. The trust embarked on a large-scale fund-raising effort with the aim of restoring Sequoia -- almost a derelict by then, said Kelly -- and donating her back to the federal government for presidential service once again.
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