It was the weekend of spring launch, the owner had pulled the winter plug and reinstalled the knot meter paddle wheel but never tightened it all the way I guess. I'm not sure about the details surrounding why he didn't, no one really wanted to ask being that he is one of the old timers and past commodore and should know better.
FYI, when we haul and store for the winter the knot meter paddle wheel comes out and the plug goes in, otherwise the winds that go with the winter storms can spin the paddle wheel way faster than it was intended and damage the knot meter............or so they tell me so I have been doing it every year. It's also a little easier to bottom paint.