jimmy mcfly

Just read this from Fountains own accounting/auditors-

Fountain independent accounting firm, Gregory & Associates, included a letter in the boatbuilder’s Sept. 29 annual report that raised doubts about Fountain’s ability to stay in business.

“The company has current liabilities in excess of current assets, recent losses from operations, negative cash flows from operating activities, and has significant debt compared to the underlying equity,” the accounting firm said in the Sept. 16 letter accompanying Fountain’s annual report.

“These factors raise substantial doubt about the company’s ability to continue as a going concern,” the accounting firm said.

This is never good, no matter how they deny the conditions out there.

BrettM

This just makes my mind spin even more. I will be at Fountain Sunday, I will report back asap!

P.S. Ill be taking my camera too!

hydr0_scrm2

This deal stunk from the beginning and everyone involved knew it.

Reggie AND his employees didn't really want Baja and admitted to as much, but when they basically were given the molds - they didn't have much of a choice. What they obviously got was a way to spread out their overheads and sell some more boats. I'd have to imagine it's hard enough to sell a boat right now domestically, let alone a high priced performance boat, so having Baja in the portfolio makes sense to diversify. However, I'm sure that not many anticipated some of the recent market conditions.

Can you say Baja/Fountain by Brunswick? They have been, and will continue to be the true benefactor in all this. Add in the perfect storm of a financial crisis which will kill many boat builders off (potentially including Faja), and you potentially get Brunswick completely controlling the market with their two performance boat companies under one roof.

And most important of all, I'm guessing they would not (or since they sold Baja) already no longer have their liner liabilities. (Not positive about this, but some of the guys that are selling could fill us in on the legality portion of the liner issues and what's still covered)

Don't Bite Me!

Brunswick stepped up and did the right thing in regard to my 405 issues. Their attention in getting things resolved was very much appreciated!!

It fell on Brunswick because they owned Baja when I bought in '06

BAJA WILL

WOW, lots of hating from someone with only 6 posts

Like to know mwhere you got this info?? "Reggie AND his employees didn't really want Baja and admitted to as much"

Please give your background so everyone can understand your credibility and where you information comes from.

WILL

Tristar Racing

I have asked in other threads a number of times, what was the liner issue with the 405? It seems like something huge happened, can anyone shed some light? Some of the old Baja guys said they would comment, and I never got anything.

Ive heard the linear system in the smaller boats worked well though. True?

I always assumed Brunswick would get Baja back when they assumed ownership of Fountain when everything was said and done. I mean at this point, Brunswick has a lot tied into Fountain with their bail-out from a few years back.

Whatever happens, I hope Fountain continues to exist. The go fast boat scene wont be the same without the beak boats...

Dock Holiday

Pretty simple

On paper it looked good but they broke the very first 405 built within two weeks doing testing and hull validation and the head of Baja did not want to accept that they had a real problem and pushed the project forward because the orders were coming in for the model.

Last April into May it looked like a grave yard in Bucyrus with all the broken 405's.

I know four guys with original model year 30 OL's that got complete new boats from Baja / Brunswick to replace the hulls with failed liners adn from what I hear there were a LOT more then just the four I know of.

I know fo two guys that had bad 35 OL's and Baja / Brunswick took good care of both of them. One got a full refund and one got a 36 Outlaw in replacement that a dealer had in stock.

The liner looks good on paper. The liner looks great in the boat but unless it is installed correctly it can fail and crack and you have a serious structural problem.

I know a lot of guys with 30's and a few with 35's that were done right and they are GREAT boats. There was just a bad learning curve and the upper management at Baja was too worried about $$$$ instead of quality.

Dock Holiday

Will

With all due respect it is obvious this person was a Baja employee. Put yourself in their shoes and see if you don't have some hard feelings.

I have 5000+ posts and I have some hard feelings toward the former Baja upper management, toward Brunswick and toward Fountain in the way that all three handled this issue.

I proud to be a Baja B4 Fountain owner.

Dock

TEAMBAJA

Bingo! We have a winner!





Give that man a prize!



BAJA WILL, how long have you been a Fountain dealer?

BAJA WILL

Hey everyone on here either knows me or seen me post since forever, I don't like for people who are "one post wonders" talk chit. I proudly put my name, business, my location, on my posts. I am just giving the man or women a chance to validate themselves??


I personally have met with Mr. Fountain and he is happy to take on the Baja line, especially since it was given to him??

Hell we would have taken it for that deal.

Sincerely,

WILL