Heading back to the Marina early afternoon. We got out early as is our custom so we can be done and leave the afternoon water for the wilder ones. We see a 16 foot ski boat out in the middle of the lake with smoke pouring out of the engine compartment (i/o). I change course to go see if they need help. 2 girls and 2 guys huddled at the bow of the boat and 1 guy at the stern emptying his extinguisher into the engine compartment(. Smoke is getting thicker and has the obvious smell of electrical. I holler at the guy do you have the fire under control?? He hollers back, I cant see where it is and my extinguisher is empty!! I quickly pulled up along side and hollered at them to get onboard. (I have a 20 ft. Pontoon with just me and the wife onboard). They quickly get onboard and I tool us a good 100 yards away. My thinking is being on a burning boat with a full tank of gas is not a good idea.<br /><br /> The poor owner was beside himself wanting to do something to save his boat. He told me someone had stolen his stereo and he guessed one of the bare wires must of grounded!! Hmmmm. DUH!! I said lets wait and see what happens. Took about 10 minutes and I guess all the wiring burnt up without anything turning to flame. Smoke dwindled to nothing and we went back to his boat. I had him immediately disconnect the battery. Wiring was all burnt up but no fires anywhere, so I towed him back to the ramp. Of course he wanted to pay me for the help but I told him that yes he owed me, but the only way he could pay me back was to help the next fellow. <br /><br /> I felt bad for the poor guy, but other than him having taped off any bare wires from the stereo theft, once the smoke started was there anything he, or any of us were we in a similiar situation, could have done to minimize the damage???