Offshoreonly.com - Reggie Fountain Can't be Put Down

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Quote:

Originally Posted by Dock Holiday (Post 2633926)

Nothing but cooperate welfare.

Good for Reggie and real bad for me as a tax payer.

There is no way in hell he will create 250 jobs.

I used to think the exact same way. The market dictates who survives, not the government and survival of the fittest and all that. But, the older I get, I think that things can move so quickly that it's hard for the employee to switch from job to job and maintain a living. I think the government providing some stability and stimulus here and there is a positive. I just don't want a habit of it...

250 jobs = 50 jobs for americans & 200 for illegals

I see it this way, would you rather have 12 million given to companies that keep people employed, and acting as contributing members of society, or...... waste it on a bunch of 3rd generation welfare trash, that sit on their ass all day complaining that they have not recieved enough__________(insert just about anything) from the government lately? I know where I stand.

Darrell.

Quote:

Originally Posted by blkbullitt (Post 2633945)

I would have agreed a few years back but not any longer.

If Fountain was growing it may be a good investment. But if I understand correctly the employees have taken a pay cut, Reggie is not taking a pay check right now and there is a lot of money owed to banks. The stock is in the toilet and I see this as a matter of survival instead of actually growing a company and creating jobs. I could be all wrong but just what I am hearing.

Hopefully he makes it and we the tax payers see a return?

Quote:

Originally Posted by T2x (Post 2633528)

Please Reggie don't p!ss it all away on trying to manipulate and control offshore racing again......

He'll use it to feed his massive ego in some fashion. God knows he's run through millions of OPM doing just that.

Quote:

Originally Posted by GLH (Post 2633600)

My humble impression of this Baja thing is that Brunswick forced him to take the Baja outfit... (.

Absolutely- Brunswick needs to prop up unit volume- even if they show a dollar loss somewhere else. When you're managing a public company, you're managing stock price and investor perception, not necessarily managing the business. Lower profits are forgiveable. Lower sales- especially losing a major customer, typically are not.

Quote:

Originally Posted by seafordguy (Post 2633602)

Question: How many of you avid supporters own FPB stock or, more importantly, are planning on buying it soon?

.

Fuuuuuck no. FPB is and has been in the toilet forever. If you follow the market, based on his IPO and market growth, FPB should be trading in the 70's if it just kept pace with the S&P 500. It's about 1/100th of that. That IPO was an investor fleece. Pretty much a legal theft. The way it was positioned, there isn't much anyone could do about it.

Quote:

Originally Posted by Ratickle (Post 2633791)

My only question, (and I thought I knew everything:D), is how do you keep the two seperate for income/tax purposes if they are in the same facility?

Baja will be nothing more than a brand. Fountain may construct them on contract for another assetless corporation called Baja Marketing or whatever.

Quote:

Originally Posted by blkbullitt (Post 2633858)

Why does it matter what the new jobs are for? I mean, they are jobs, right? If you were unemployed prior to this, but employed after, would you really care if you were building expensive play toys for the rich? I'd just be happy to have a job.

North Carolina is simply advancing capital to Fountain against future taxes that his employees and his corporation will pay back to them in the future. I personally think they made a bad bet on this one.

Quote:

Originally Posted by Dock Holiday (Post 2633970)

Reggie is not taking a pay check right now...

Reggie cleaned out the cookie jar long ago. If he doesn't need the paycheck and he gets to still be The Creator (of the "World's Fastest, Safest, Most Dependable, Removes All Stains, Won't Clog Your Arteries, Stops Erectle Dysfunction Powerboats") then this just keeps the party going on.

Quote:

Originally Posted by fountain4play (Post 2633327)

Anyone who owns a business is ultimately is looking to turn a profit otherwise you won't be able to survive...the lenders are tightening their requirements all the time....people no longer have the luxury of turning a profit in a few years,...unless you are established and have good credit it will be a short run which is why most businesses fail in the first three years of start-up...

people that start businesses and hire people are there to make money plain and simple and if that includes bringing stable employment along the way that's a great benefit...

I can't speak for other business owners but we are not in business just to provide jobs, if we aren't making money and moving forward no one needs the aggravation to just tread water or loose money..

Unprofitable Divisions will be eliminated and/or restructured which ultimately leads to a loss of some jobs...

Some people want to make the case that a company needs to show them loyalty and be there for as long as they want, but it never seems to happen when the shoe is on the other foot...

Funny thing is no one criticizes anyone for moving on to a new job to further themselves even if their present employer payed them more than the going rate for their services...

While I don't claim to know any of the circumstances surrounding Fountain's purchase of Baja someone thinks it's a good deal or at the very least a way to further their company...

It happens all the time, one company buys another and they are absorbed never to be heard from again...At least on the surface it appears that Fountain is still going to keep the Baja brand alive, for how long is anyones guess and that's all it is a guess.

Like him or not he's putting his company on the line doing this deal and I wish him the best for the marine industry as a whole needs some positive outcomes out of the doldrums that they are presently in...

As a business owner i would say to you ( Very Well Said) I whole-heartly agree with your comments!

Quote:

Originally Posted by Dock Holiday (Post 2633970)

Hopefully he makes it and we the tax payers see a return?

You mean like a free "Cat Killer" DVD for all the tax payers?:drink:

A great day in boating. My hats off to Mr. Fountain and his staff.

Quote:

Originally Posted by mccaffertee (Post 2634191)

I will start off saying I cannot stand Reggie, his boats, his clothes, his hair, his jewelry and etc. But personal opinions aside...

It seems like these statements have been around since he built his first boat. Year after year after year, people have disrespected this man's ambitions and drive. I do believe failure is not an option to Reggie. Too bad more business leaders can't offer this outlook.

Godspeed to fountain and his team!

just rember,reggie is watching you,lollol.