32fever

I dunno, Jack, this is all too often a common thing in the boating industry, but usually with smaller places. These articles seem legit, and there are 3 or 4 such articles out there. Same thing happened here in MI with a local boat dealer. He wound up in prison eventually.

Anybody see any National ads on boattrader anymore? I'm guessing OSO hasn't worried about payment for the ads they have for National, I still see some there.

If I lived by Tim G, I'd be checking his mailbox for outgoing resumes, then I'd know for sure one way or another

stecz20

national got what was coming to them, its just a shame that good people got caught in their scam and lies. stecz

clearcut3

Man...I really feel for the people involved in this mess...I hope some people spend time in prison for this...not a country club jail but a bend over and take what's coming to ya prison

Tres

Lets just hope this doesnt kill the powerboat industry, and future loans. This could be a big blow to everyone.

Roger 1

I think that the industry will survive just fine, although I`m sure that this incident will ''leave a mark''. I think that the banks and other lending institutions should take a lesson from this to be a little more vigilant in loaning money and keeping track of their collateral. Especially when floor planning a large inventory of high ticket items.

clearcut3

This could be very real. I am very familiar with another industry that had some financial difficulties a few years ago. There use to be 10+ major finance companies in the industry and now there are only 3 major resources and 2 of them are the actual manufacturers.

Dano

If this completely grenades anybody that thinks this won't have significant impact to every portion of the high performance (all marine ) industry isn't thinking completely through the issue. This will not be good for anybody.

stecz20

the industry has already been affected in many ways. i am all too familiar with this way of doing business. i used to own a garbage co in nyc, and when a co would either sell or go out, they would blow out every account they had. then sell, or go under and open under a different name. this would affect prices, sales, insurance, anything and everything you could imagine. not to mention all the people it took in its wake.

very few good points come out of something like this, but i can think of a few. after all is said and done, after all our friends get their lives back together if they can. not having a co like national will make the industry stronger, closer to what it should be. no way should buying a power boat be as easy as going to the store picking up a candy bar, like in the case of national. hopefully this will make the people that are still around, and the people we trust stronger in the long run. sorry about the rambling, this just strikes a cord with me from my old line of work....

THEJOKER

Yea and CRT told us we needed to do business like NM. What goes around comes around right Skip? BH