Passport Marine Officially Over
04-04-2008, 09:58 AM
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Passport Marine Officially Over
Passport Marine, the #1 Formula Boat Dealer in the world has filed for bankruptcy and as of this morning is officially out of business. Their remaining boat inventory, which is substantial, will be repossessed by the bank.
04-04-2008, 10:10 AM
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Gee - what a shocker!
5 Numb Nuts who HAD alot of money come into the Marine business to be the WORLD WIDE distributors to the WORLD for FORMULA, BUDDY DAVIS, EGG HARBOR, YADDA YADDA YADDA.............with no experience in the business.
I said they would implode in 1-2 years. Boy was I wrong on that one! More like less than 6 months.
I wonder how all of the former Formula dealers that were dumped for the NEXT LATEST AND GREATEST National Marine feel today? I think they will be enjoying I nice bottle of Cabernet tonight.
Anyone have a deal on a case of kneepads for the Formula folks?
5 Numb Nuts who HAD alot of money come into the Marine business to be the WORLD WIDE distributors to the WORLD for FORMULA, BUDDY DAVIS, EGG HARBOR, YADDA YADDA YADDA.............with no experience in the business.
I said they would implode in 1-2 years. Boy was I wrong on that one! More like less than 6 months.
I wonder how all of the former Formula dealers that were dumped for the NEXT LATEST AND GREATEST National Marine feel today? I think they will be enjoying I nice bottle of Cabernet tonight.
Anyone have a deal on a case of kneepads for the Formula folks?
04-04-2008, 10:12 AM
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04-04-2008, 10:16 AM
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Some dealers have turned to incentives. Passport Marine offers to buy out the first four years of interest for credit-worthy buyers, said Jim Dillon, president and CEO of the company with a dual headquarters in Miami and St. Petersburg. This can cut the initial payments for a $100,000 boat in half, he said.
To deal with the slow sales market in South Florida and the rising costs of boat ownership, Passport has begun including the first two years of fuel and insurance into the financing.
I hope the buyers got their money up front!
To deal with the slow sales market in South Florida and the rising costs of boat ownership, Passport has begun including the first two years of fuel and insurance into the financing.
I hope the buyers got their money up front!
04-04-2008, 10:16 AM
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Gee - what a shocker!
5 Numb Nuts who HAD alot of money come into the Marine business to be the WORLD WIDE distributors to the WORLD for FORMULA, BUDDY DAVIS, EGG HARBOR, YADDA YADDA YADDA.............with no experience in the business.
I said they would implode in 1-2 years. Boy was I wrong on that one! More like less than 6 months.
I wonder how all of the former Formula dealers that were dumped for the NEXT LATEST AND GREATEST National Marine feel today? I think they will be enjoying I nice bottle of Cabernet tonight.
Anyone have a deal on a case of kneepads for the Formula folks?
5 Numb Nuts who HAD alot of money come into the Marine business to be the WORLD WIDE distributors to the WORLD for FORMULA, BUDDY DAVIS, EGG HARBOR, YADDA YADDA YADDA.............with no experience in the business.
I said they would implode in 1-2 years. Boy was I wrong on that one! More like less than 6 months.
I wonder how all of the former Formula dealers that were dumped for the NEXT LATEST AND GREATEST National Marine feel today? I think they will be enjoying I nice bottle of Cabernet tonight.
Anyone have a deal on a case of kneepads for the Formula folks?
04-04-2008, 10:43 AM
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Some dealers have turned to incentives. Passport Marine offers to buy out the first four years of interest for credit-worthy buyers, said Jim Dillon, president and CEO of the company with a dual headquarters in Miami and St. Petersburg. This can cut the initial payments for a $100,000 boat in half, he said.
To deal with the slow sales market in South Florida and the rising costs of boat ownership, Passport has begun including the first two years of fuel and insurance into the financing.
I hope the buyers got their money up front!
To deal with the slow sales market in South Florida and the rising costs of boat ownership, Passport has begun including the first two years of fuel and insurance into the financing.
I hope the buyers got their money up front!
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Throttles- Cleveland Construction 377 Talon
08 OPA Class 1 National Champion
08 Class 1 Geico Triple Crown Champion
08 OPA High Points Champion
10 OPA Class 1 National Champion ( happy now Ed! )
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