Semi-similar incident up near Bellingham, WA the other evening. 2 guys and a gal where out tending crab pots when the boat started sinking. The woman had the presence of mind to hit *CG on her cell phone and got the Coast Guard directly. They played the recording of the call on the news and you could hear the water literally crashing into the boat as the woman screamed "we're going down now!". They where rescued shortly thereafter. I didn't hear anything about why the boat sank so rapidly.
If you don't think for yourself, someone else will do it for you!