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On American boats competing in America’s Cup. 1970. CU Bob Director building hull skeleton from wood laminate frames. CU more finished hull and keel. Launch party with flags and crowd on dock. CU photographer shooting scene. Peggy Mc___ sponsors and christens boat “Valiant.” Pans over the crowded harbor. Intrepid, 1967 cup defender, in shop, keel designed by Chance. CU Intrepid’s second launch in harbor. CU skipper steps onto boat and tests wheels; CU him putting on hardhat and talking with other crew members. CU Charlie Morgan--designer, backer, builder and skipper of Heritage--talking. CU Herkitage’s name on boat. WS crowd on dock, presumably for launch party.