Purchasing Fountain Powerboats
09-21-2009 | 03:18 PM
#22
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John, hate that for you guys, I actually thought it would be a wise business move. As for this Oxford Group, I wonder who is going to be running the show at FPB????? Not to be rude, but if a company can spend its own money into closing its doors, how fast can it spend/waste someone elses?? If I was a stake holder in Oxford I would be pulling out, and questioning such an expensive high risk investment. UNLESS SOME ONE AT OXFORD IS IN WITH BRUNSWICK???
09-21-2009 | 03:30 PM
#23
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Oxford needs to get rid of Baja then discontinue all Fountain models that are poor producers to survive this economy. Fountain has great brand recognition and international presence but luxury items are taking the biggest hit worldwide.
09-21-2009 | 03:43 PM
#24
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From: Medina Ohio
Our acquisition of secured bank notes of Fountain Powerboats fell a few hours short to Oxford Investment as we were in meetings with Reggie Fountain at his facility on Thursday. It is our understanding that they will be able to run the bid up at the auction to 20 Million dollars. This number does not work to make this a viable investment from us as additional money will be needed to get employees back on the line, re-stock materials and keep the business up and running over the next two years while the country comes back from its current recession. We feel it is a sad day in the boating industry as our expertise and high standards would have helped enhanced the Fountain and Baja lines.
Our passion for building high quality boats is alive and well and we will continue to build Hustler’s full line of boats to the highest standards. We will be coming out with our new 29’ in our Rockit Series at the Miami Boat show to fill that current void in the market place and would like to thank everyone who wished us well over the last few weeks.
We will be looking at new ventures in our industry in the coming months.
Our passion for building high quality boats is alive and well and we will continue to build Hustler’s full line of boats to the highest standards. We will be coming out with our new 29’ in our Rockit Series at the Miami Boat show to fill that current void in the market place and would like to thank everyone who wished us well over the last few weeks.
We will be looking at new ventures in our industry in the coming months.
I'm not sure what this guy is trying to gain by coming on here and telling everyone in the general forum, the Fountain forum, the Hustler forum that Hustler is buying Fountain and then coming on here a week later to say "oops we made a mistake the deal didn't go down because we couldn't get the financing". Why would the the heads of a privately held company come on a public forum and give details of a business merger/deal that has not been "closed" and boast about the oportunity and "the deal" and then come on here a week later and start name dropping banks such as Oxford invesments and then publicly shame a deal that you so much boasted about?! I just don't get it. All of the information that you have feed this board over the last week is considered crap in my book and makes no concrete sense whatsoever. If I was the chairman of the board of a large corporation and I was in merger talks with another competitor and a director, manager, or vp was leaking private information of a deal not yet closed he would be fired on the spot no questions asked. I just don't get it. Sorry just my two cents. I love Hustler and thier products but I think you may have been a little too forward with information that should not have been made public. Sorry I don't normally voice an opinion too much on here.
RAF
09-21-2009 | 04:54 PM
#25
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Joined: Jun 2008
Posts: 185
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From: Broken Arrow, OK
I'm not sure what this guy is trying to gain by coming on here and telling everyone in the general forum, the Fountain forum, the Hustler forum that Hustler is buying Fountain and then coming on here a week later to say "oops we made a mistake the deal didn't go down because we couldn't get the financing". Why would the the heads of a privately held company come on a public forum and give details of a business merger/deal that has not been "closed" and boast about the oportunity and "the deal" and then come on here a week later and start name dropping banks such as Oxford invesments and then publicly shame a deal that you so much boasted about?! I just don't get it. All of the information that you have feed this board over the last week is considered crap in my book and makes no concrete sense whatsoever. If I was the chairman of the board of a large corporation and I was in merger talks with another competitor and a director, manager, or vp was leaking private information of a deal not yet closed he would be fired on the spot no questions asked. I just don't get it. Sorry just my two cents. I love Hustler and thier products but I think you may have been a little too forward with information that should not have been made public. Sorry I don't normally voice an opinion too much on here.
RAF
RAF
09-21-2009 | 05:00 PM
#26
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Joined: Sep 2009
Posts: 490
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Can someone post the "OXFORD website" I did a search and don't want to read up on the wrong one.
09-21-2009 | 05:08 PM
#28
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From: Sandown, NH - Sebago Lake Region, ME
09-22-2009 | 05:50 AM
#30
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Joined: May 2007
Posts: 259
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From: Italy
Of course he can!!!!!!
The point runafever is making is about disclosing a deal before it was closed, regardless of the reasons why it wasn't.
The only point where I disagree with him is about the need to fire anyone: considering that they announced the deal also in their own website, it doesn't look like a naive initiative of an employee posting on a forum.
Most likely, the chairman should only blame himself in this case.
The point runafever is making is about disclosing a deal before it was closed, regardless of the reasons why it wasn't.
The only point where I disagree with him is about the need to fire anyone: considering that they announced the deal also in their own website, it doesn't look like a naive initiative of an employee posting on a forum.
Most likely, the chairman should only blame himself in this case.
