Wreck of the RMS Titanic D. Michael Harris and Jack Grimm had failed to find "Titanic" but their expeditions did succeed in producing fairly detailed mapping of the area in which the ship had sunk. It was clear that the position given in "Titanic"s distress signals was inaccurate, which was a major expedition difficulty because it increased the search area's already-expansive size. Despite the failure of his 1977 expedition, Robert Ballard had not given up hope and devised new technologies and a new search strategy to tackle the problem. The new technology was a system called "Argo / Jason". This consisted of a remotely controlled
Wreck of the RMS Titanic but the plans were abandoned for financial reasons. The following year, the British billionaire financier and tycoon Sir James Goldsmith set up Seawise & Titanic Salvage Ltd. with the involvement of underwater diving and photographic experts. His aim was to use the publicity of finding "Titanic" to promote his newly established magazine, "NOW!". An expedition to the North Atlantic was scheduled for 1980 but was cancelled due to financial difficulties. A year later, "NOW!" folded after 84 issues with Goldsmith incurring huge financial losses. Fred Koehler, an electronics repairman from Coral Gables, Florida, sold his electronics shop to finance the