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Originally Posted by PARADISE ISLAND
(Post 3403091)
I may be wrong but 5 million cost about 40k a month if you sell a decent amount of boats and you know he can:eek:It's a safe bet!Maybe the 5 million is to get Fountain back from Liberty??:hitfan:
How many people would it take to get $5 mil together and front RF and just hope for a good outcome? Not often you have a track record to go by. My guess is that not a single Fountain Powerboats shareholder would buy in, what do you think? |
Originally Posted by Cavanti53
(Post 3403084)
Do you also think there are no takers because #1 the market does NOT need another Cat or V-hull manufacture regardless of who it is, #2 RF is obviously not a safe investment risk. He obviously did a poor job of managing money on at least 2 different times at Fountain, and #3 when is it time to pack it in? Like was previously mentioned, he is in his 70's.....Time to retire!
Oh by the way, Last time I checked when you go bankrupt you usually don't have money, other businesses, and cash laying around. The firends that i have that were unfortunate to have to file had to rebuild their credit even to buy another house or car. How is it that he was spared personal bankruptcy while the vendors and employees suffered? Anyway, I am done with the RF subject. Old news... Outerlimits new cats, Skater 388SLW, Nortech 52, DCB M35, Mercury 1350's, MTI, Sterling, Potter, Teaugue, etc.. That is the new new news. Hard workers who have whethered most of the storm who continue to develop new products and stand by their customers... Enough said! |
Reggie is what he is. A lot of people might argue that he's ALREADY failed. In terms of his new venture--whatever it will turn out to be--I don't know that it will be that big a deal. We'll see...
That doesn't take anything away from what Reggie has brought to the sport and the industry. He's definitely been a unique, driven and talented character in a sport that can always use more of those kind of people. Hats off to him and whatever he tries to do from here on out. Like they say in the SAS - "Who Dares Wins." Reggie's won his share. |
Originally Posted by In The Pink
(Post 3402551)
I love his boats. I love his enthusiasm. But his age is what scares me. At 71, stuff happens. Then where does the company go from there.
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In a way Reggie reminds me of Carrol Shelby.
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Originally Posted by Cavanti53
(Post 3403084)
Do you also think there are no takers because #1 the market does NOT need another Cat or V-hull manufacture regardless of who it is, #2 RF is obviously not a safe investment risk. He obviously did a poor job of managing money on at least 2 different times at Fountain, and #3 when is it time to pack it in? Like was previously mentioned, he is in his 70's.....Time to retire!
Oh by the way, Last time I checked when you go bankrupt you usually don't have money, other businesses, and cash laying around. The firends that i have that were unfortunate to have to file had to rebuild their credit even to buy another house or car. How is it that he was spared personal bankruptcy while the vendors and employees suffered? Anyway, I am done with the RF subject. Old news... Outerlimits new cats, Skater 388SLW, Nortech 52, DCB M35, Mercury 1350's, MTI, Sterling, Potter, Teaugue, etc.. That is the new new news. Hard workers who have whethered most of the storm who continue to develop new products and stand by their customers... Enough said! "At this point (and, yes, according to my sources have been discussions) with other builders there have been no takers. I think that speaks more to the state of the market than anything else." That's why I believe no builder has said yes. Yet if a builder—any builder—thought as poorly as you do about Mr. Fountain's business acumen (and yes, it's worth questioning), why would he bother discussing any sort of joint venture with him? And yes, there have been discussions. As for the statement that RF Powerboats is "old news," I must respectfully disagree. When you report on a story, you are obligated to follow it to its conclusion. This story began publicly unfolding late last year, which isn't all that long ago. In this case, my most recent reporting mixed with commentary, which was labeled as such. Last, to address vSteve's point: "If you control the initial perception, you can pretty much control what gets publicized after that." Not exactly. In fact, not even in close. If that were the case, do you really think Mr. Fountain would want a story called, "Commentary: What if Reggie Fails?" As I said earlier, if you report on a story you—as a reporter or commentator—are obligated to follow it to its conclusion. So you can be dead sure that if RF Powerboats comes to nothing I will report it. |
What if Reggie catches a cold?
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Originally Posted by T2x
(Post 3403229)
What if Reggie catches a cold?
As far as Matt following thru with the story, I agree and you always do a great job. I kind of meant old news for us / me. I am so tired of who did what at Fountain and Reggie left and now Liberty is in trouble on and on. I think Liberty did great to save the brand. RF is lucky his company didn't go under completely. My personal opinion he should have stayed on as a consultant during his last few years and been appreciative someone stepped up to save Fountain. Anyway, It makes you wonder about the economy in certain areas with Ferrari and Lamborghini having record years and new models sold out for 2 years. MTI, Skater, OL, and Nortech still selling big dollar fast boats. DCB has how many 1350 boats? I think Matt said it best at Desert Storm. How many sets of new Merc 1350's? That's huge and a record crowd.... I think things a starting to loosen up and the factories who have stuck it out, stood by their customers, and came up with new technology, and unique products will be rewarded soon with sales...hopefully. But, Any new manufacture of a cat or v-hull to show up just to prove a point and saturate and very small customer base does nothing for anyone. It happens in all businesses. We have a distributor selling at little to no margins. He will steal some sales for a year or two and then go under again. But in the meantime screw up the market for everyone else. Matt, Thank you for the great stories on DS and all of the others. Any new news on the new Sterling 1700's or OL's new cats? Skaters 388SLW should be ready soon and maybe will give Predator a run for his money. Any other Nortech 52's being built? I love the Poker Run scene, the boats, and all the stories better than racing now. It's real people with their own money and a whole lot of pride. Very little politics...... If Powerboat had 1/3 of the magazine devoted to Poker Runs and Poker Run machines I would love it..... Thanks again. "What if Reggie catches a cold" LOL - ha ha |
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