Boating: The Bathtub Navy

Ever since he got his first catboat at eleven, Bostonian George O'Day, 40, has idolized sailboats. Regarded as one of the world's best downwind sailors, O'Day has handled almost every class of boat up to sleek 12-meter racers (he was the successful Weatherly's assistant skipper during last year's America's Cup races) and has a seasoned eye for grace ful lines and good design. About the only boats that O'Day doesn't like are those he makes himself.

Since 1958 his O'Day Corp. has been turning out stubby Fiberglas boats for amateur sailors that offend his sensibili ties ("They look like unwashed...

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