Spicy,
I remember reading that same article in PB and believe it said that Neil leveraged all his assets to be an equity partner in Cigarette. I imagine his stake was minor as compared to Skip Braver. Regardless, it's a shame that he is no longer at the company he helped build into the #1 recognizable performance boat company in the world! Good Luck Neil!

Its a private company ran by the guy that paid for it.

What he does is none of our business. If it affects your choice of what you will buy it is your choice.

But criticizing what someone else does with his possessions is a slippery slope. I have enough managing my sh!t, I sure won't jam my nose in other people's business.

I agree!!!!

dont forget that Tim is still there and is very knowledgable and helps customers out alot, cigarette is going nowhere, they will stay strong

anyone think that just because he doesnt work there doesnt mean he doesnt have a equity stake still?


just thinking out loud

I would also expect that there is some form of a "no compete" in place that would prohibit Neil from joining another boat mfg. for some time. Customary is 2 years, typically not enforceable beyond 5 years.

It is also customary in such agreements to require some form of "cause" in order to be terminated.

Regardless, this is really none of our business as to who did what or why. Of course I wish Neil the best in his future endeavors.

I think anything that happens at Cigarette is our business. Owning a Cig is addictive and very involving. Going to the factory is like going to the Holy land. And, I wish both Skip and Neil the best and hope they both do well in their new endeavors.

Agree, as I've had similar agreements in my business. You can't just fire a partner so something must have happened between the two, believe me I know, lol. Wish Neil the best.

I've never looked at it in a junkie/dealer relationship but it might start to explain some of the comments I read! :) :drink:

going thru this sh!t now.... i wish i had skips lawyer write up my partnership agreement:angry-smiley-038:

He would have to bought out unless he signed a VERY goofy contract with Skip.

Now that's funny! :)

Up here, if the non-compete prevents you from making a livelihood it will not hold up in a court of law. Now, the equity ownership part may be more problematic.

You and Cashbar breakup AGAIN ???:evilb::evilb:

That's HIM and DOLLABILL thank you. :grinser010:

I would not worry about the value of your Cigarette's as they will hold their value no matter what happen's to the company. Look at Apache/Apache's, the company was run by drug runner's and was non existant for some time. It does suck that Neil is gone. Now, Cigarette has changed owner's tons of times and needed major updates, Skip dumped tons into the company and made the needed updates. I think Skip can do a better job by getting the website up and offer some excellent customer service. Customer service goes along way and thats why most cig owners will go to Lip Ship.

JT

Obviously I don't know anything about Cigarette like everyone else here, however this may explain why I can't get a return phone call for some parts that I need. I love my boat, but am very dissapointed by the lack of customer service.

Sounds like the way Donzi used to be!!!!, things might have changed at Donzi, but who knows??

Chatter Chatter Chatter
 

Partners always get fired or just leave to be bought out = its the "exit part" of your investment. Sure you can fire someone, but you have to buy them out, they still OWN their stake. Its very complex when that happens, most companies have two starting partners - SALES GUY/TALENT GUY - or MONE GUY/TALENT GUY - we all know who the TALENT GUY is

So you guys sign un-enforceable contracts knowing that all along?

Neil
 

Has Neil found a place to hang his hat yet? Who talks to him?

actually it isn't that hard to get rid of someone. You have to recapitalize the company, through paperwork and you can reassign the stock and squeeze someone out. it is a time honored decision.

I spoke with Neil last week. He is still doing some work for Cig, but will be moving on soon. I would like to see him, somehow compete with Skip. Neil is and always will be Cigarette.

Depending on the individual circumstance, enforcing a non-compete agreement would be a very difficult and potentially expensive thing to do. I hope we can expect to see good things in the marine industry coming from Neil Hernandez in the not so distant future.

Wouldn't it be nice if Neill and Phil bought Cigarette from Skip.

Anyone know what Neil is doing these days?

He was in the construction business, haven't talked to him in a while. Constuction is hard these days.