Tidelines: Coastguard cash

The Auckland Volunteer Coastguard has signed a sponsorship deal with the international banking and financial institution HSBC. The arrangement gives the 70-year-old safe boating group a cash injection and extra project sponsorship. Neither partner will put a figure on the deal, but coastguard chief executive John Cowan says it will make a huge difference to the operation of an organisation that receives no government financing.

Sales plunge

Watercraft sales across New South Wales have fallen 75 per cent since the state government introduced legislation prohibiting personal watercraft use on Sydney Harbour and the Parramatta and Lane Cove Rivers. Grainger McFarlane, chief executive officer of Bombardier, distributor of the Sea-Doo range, calls the legislation draconian and says jobs have been lost as dealers downsize.

Resort sells

Sanctuary Cove, Australia's biggest integrated tourist resort and home of the Sanctuary Cove International Boat Show, has been sold for $A208 million ($262 million). Mulpha Australia is the new owner of the resort, built on the Gold Coast in 1980 by entrepreneur-businessman Mike Gore.

Contest entries

Some entrants in the Herald Win-a-Boat contest have had difficulty locating the correct postal address in the contest conditions. Completed entries must be posted to PO Box 706, Auckland, to arrive by Wednesday, December 5.