You’ve got an emergency towing wire. Of course you do. It’s rusted beyond belief, probably retired from primary service two years ago when it developed that kink and those nasty fishhooks. And, it’s deployed where it should be; out on deck, in the open and exposed to the elements. Will it perform when you need it most? Probably not. It doesn’t have to be that way. According to JK Fabrication, the current system of storing wire on a front splash plate insures that the wire will fail as it has very tight radius bends and is rusted in a very short time. When pulled hard in an emergency, the wire will break from tight radius fatigue in rusted areas.