These guys took the concept of offshore outsourcing a little too literally. Entrepreneurs David Cook and Roger Green in 2005 purportedly launched an outfit called SeaCode that would offer outsourced application development services from a boat moored off the California coast. The idea was to hire Indian workers who wouldn't be subject to U.S. immigration or minimum wage laws because the ship would literally be offshore. But after an initial press release, nothing much was ever heard from SeaCode, and many dismissed the initiative as a hoax -- though a website for the project remains online.
Further reading: IT Hall Of Shame, Part 1