A 28-foot power boat listed in the name of Restaurant Events, Inc., the company owned by Katherine Stuart, wife of mayor Kevin Faulconer, has been sold.
Wayne C. Jones Yacht & Ship Brokerage reported online that the craft, which had been for sale for $17,500, has been purchased. However, the Jones brokerage would give no more information, such as the transaction price. Stuart is out until Friday and the mayor's office did not answer an inquiry.
The boat, named Tiki Time, was built by Chantiers Beneteau S.A. in Saint-Hilaire-de-Riez, France, in 1992. The name "Tiki" is one that seems to tickle Stuart: she was part-owner of a high-end beauty salon/spa across from the convention center, named Spa Tiki. She sold her shares in 2007 and it closed in 2009.
Late last year, Stuart's Restaurant Events was worth between $100,000 and $1 million, Faulconer reported, according to a story by Matt Potter in February of this year. Potter explained that the company specializes in a number of things, including negotiating terms for downtown permits for block parties.
In 2010, Potter wrote a story noting that in 2006, city ethics commission chief Stacey Fulhorst wrote to Faulconer, then a city councilman, "Your spouse's ownership in Restaurant Events and Spa Tiki constitutes economic interests for you that must be considered when these business entities are directly or indirectly involved in municipal decisions."