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Old 01-05-2008, 10:41 PM
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Partnership is a poor ship to sail on.....................



It is Velocity in Sanford, FL outside Orlando and the highway they speak of is I-4.

5 million sitting in a munibond account earning even 6% is 300K a year tax free. I wouldn't even think of the boat business even if on paper it showed I could make 600K a year. Rising insurance/ fuel prices have pushed Velocity into the center console business for a reason, they can't easily sell their go fast boats. It also notes 3 million in the asset/furniture category but no where it mentions the land/building. Would love to see the 3MM desK!

Now imagine what Skip thinks Cigarette is worth! 25MM/ 50MM or more?
Didn't even know they were getting into the CC market and I am looking. I don't like the way they look but that is what they need to do if they can't be one of the elite builders in the go fast market.
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Old 01-05-2008, 11:11 PM
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Thats' why Egg Harbor bought the Avanti and hulls, EG is building CC's now.
I bet we will se some European off shores soon. I think even the PR's are getting to old for to manny.
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Old 01-05-2008, 11:26 PM
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Originally Posted by Jupiter Sunsation View Post
Partnership is a poor ship to sail on.....................
Partnerships can be made in hell - or heaven. Takes the right people to make it work.

I dunno - my brother in law's partnership hasn't exactly left him hurting. He and his partners are better friends now than ever. I guess selling beer and wings makes it easier........

Velocity's being offered at 5 mil. That doesn't mean it will sell for that price.
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Old 01-05-2008, 11:28 PM
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Old 01-06-2008, 12:35 AM
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The economy, fuel costs and their combined effect on the performance boating marketplace probably make this one of the worst times in history to be ececuting an exit strategy.

As far as $5 mil...

Compare that to this financial data from a well-known publicly traded performance boat manufacrurer--

Last Sale: 1.24
Change: +0.09 (+7.83%)
Volume: 7,200
Prev. Close: 1.15
Open: 1.05
High: 1.25
Low: 1.05
52 Week Range: 1.01 - 4.45
Market Cap: 6.01M
Shares Outstanding: 4.84M
EPS: -0.96
P/E Ratio: -
Dividend: N/A
Yield: -
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Old 01-06-2008, 08:35 AM
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If it is then I think he's getting out before he has to revamp his line. They have been pretty much the same boat for a long time now. Even Sonic is moving ahead.

Hey what's wrong with Velocity and Sonic sticking with what works.........................."If it ain't broke don't fix it"........
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Old 01-06-2008, 08:40 AM
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Hey what's wrong with Velocity and Sonic sticking with what works.........................."If it ain't broke don't fix it"........
I know and lets bring back Beta max & 8 track tapes, they were both around when Steve & Jay started making their molds.
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Old 01-06-2008, 08:40 AM
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Velocity's being offered at 5 mil. That doesn't mean it will sell for that price.
Now that's funny. Anybody that even thinks about going into boat mfg business has a screw loose.
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Old 01-06-2008, 08:57 AM
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I know and lets bring back Beta max & 8 track tapes, they were both around when Steve & Jay started making their molds.
good one......lol........it is apples and oranges though.......your speaking of superior technology when speaking about DVD to Beta and 8 Track...... with boats it is more preference and taste.......some guys like myself are not so concerned about the last 1 or 2 MPH and just like the styling of those hulls and decks. Look how many guys around here love to rebuild an old classic.......they know they won't be the fastest or the best but still love to have something different........................now if they were still building boats with inferior motors and drives I would have a problem with that.......
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Old 01-06-2008, 09:30 AM
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True but it's more than 1-2 mph now with step bottoms, if Sonic's new step hull is a good one I bet it picks up more like 10 mph over the old 42, and that will mean a lot more MPG too.
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