WMF

What happened to Offshore Performance in Grasonville, MD, they are now owned by the North Atlantic Marine Group, and sell Formula Boats, I thought Full Tilt Marine sold Formula Boats? They are right across the street from each other.

trc2

Yes bill sold offshore performance to north atlantic marine group and there are two formula dealers across from one another

WMF

That make no Business sense to me whatsoever, I cant even get another waverunner line in because Shorts Marine is 3 miles from my shop? this does not make sense to me?

C_Spray

iTrader: (2)

Full Tilt and Formula parted ways in October 2007...

WMF

They have alot of Formulas to get rid of! what are they selling now?

Pwrbt33

iTrader: (2)

I thought Full Tilt was just allowed to sell there left over inventory? I heard NAMG was and is the newest Formula Dealer. Anybody know for sure?

DaveP

Along with a bunch of other dealers who have parted ways with Formula. Its a real shame becuase the Porter family are such great people and Formula dealers usually have a long history with them. With the current market conditions, they brought in some bozo who put a gun to their top dealer's heads and said "either order $5MM worth of product or you are history!" Most of the dealers wanted help moving 2006 & 2007 inventory but Formula said "NOPE!"

They also got in bed with Passport Marine "new distributor and franchiser" to the world and they ordered $15MM++ in boats. But they imploded in less than 12 months!

A real shame but the Porters were hell bent on not scaling production back and laying people off which is admirable. Unfortunately a whole lot of dealers got screwed in the process. Now, they are sitting on top of a monumental problen and trying to figure out how to clean the mess up.

Tom A.

Sounds like a couple other high performance manufactures that are losing their best dealers.....