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Fountain Aquired Baja

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Old 03-20-2008, 05:51 PM
  #101
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Originally Posted by Sydwayz View Post
I know of a manufacturing plant and high performance real estate mecca available in Missouri if they are looking for a nice facility.


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Old 03-20-2008, 06:14 PM
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http://www.brunswick.com/brands/marine-boats/index.php

I was surprised at how many boat companies Brunswick actually does owns.
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Old 03-20-2008, 06:19 PM
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Checkmate doesn't have the facilities or business to hire a lot of the people being laid off.
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Old 03-20-2008, 06:21 PM
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Plus, isn't Checkmate - the new owner was the former owner of Baja - located in the same town?
Yeah, the same guy who ran Baja into the ground the first time.
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Old 03-20-2008, 06:41 PM
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My heart and thoughts go out to those people who are losing their jobs in such a difficult time.
I hope they can find work and get back on their feet quickly.
As for Brunswick and Reggie, who really knows whats going on there?
I had heard from a pretty reliable source that product liabilty and warranty claims on some of the newer boats and builds may have been what really sank this ship.
Hope that more positive comes out of this than negative, but I am afraid this wedding is a shotgun affair!

Regards,
Ray @ Raylar
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Old 03-20-2008, 06:53 PM
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Originally Posted by TexomaPowerboater View Post
Still sounds like a pretty sweet deal to me.

Its not like they are going to kick these people to the streets like so many are implying. Since you are in to M&A why don't you inform us of what on average a typical employee comes out with in a severance package.

What difference does it make?
It's quite unlikely that this deal qualifies as an average M&A.
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Old 03-20-2008, 06:54 PM
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I see a lot of post saying poor town..............poor employees. These severance packages are usually a pretty sweet deal. Everyone I know thats gotten one could not be any more happy. I would love nothing more than to be laid off right before summer with a paycheck that covers my annual salary plus benefits.

Having been involved in company shut-downs I can tell you it's no fun at all. The percentage of people that are happy is very small, in fact there's quite a bit of hostility and sadness within a company when this type of news is delivered. The hourly personnel ususally get porked and the salaried do a little better depending on time with the company and position level. For most the relocation package is bare bones and management plans it that way so most don't go thus saving money. Famlies are put through tough times and the loss of friends at the company level is hard. Those with specific skills either get jobs fast or are in for lean times and long layoff periods. The ones that make out best are the outplacement firms that are contracted to help the eligible personnel.

Most of these aren't timed so company personnel can play all summer, they're timed according to the deal. I've been involved in companies that layed off people suddenly a week before X-mas, management cares less. Benefits are usually not included, you're given the choice to continue with COBRA which can cost an arm and a leg. This is unfortunate.
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Old 03-20-2008, 06:56 PM
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Yeah, the same guy who ran Baja into the ground the first time.


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Old 03-20-2008, 07:04 PM
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Originally Posted by TexomaPowerboater View Post
Its not like they are going to kick these people to the streets like so many are implying.
Depends...usually there is a stay-on provision that helps the company maintain production until shut-down. If you take the stay on package you're obligated to stay or you forfeit your package. If you choose to go, the package is significantly less. I've found that most need the money and stay on for a few extra bucks. Most of the people in companies live paycheck to paycheck and find that even a few weeks extra pay is worth it to stay. If you stay you have the opportunity to look for a job while working, companies are usually lenient and give you time to interview, but you're one of many flooding the market and depending on the locale it can be tough. But then there are the companies that bare bone it and shut down quick and skimp on the packages. It's hard to speculate on the specifics of Baja/Fountain, but most of the shut-downs I've been involved in are hard for everybody.

Last edited by Indy; 03-20-2008 at 09:14 PM.
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Old 03-20-2008, 07:20 PM
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Really sucks for the people losing their jobs.
But, why does anyone think they would have been told in advance that this was coming? Even the dealers?
It's business.
The Co. I work for merged/was bought/whatever... 2 years ago.
We had factory tours all the time to potential customers.
One day my boss tells me "Thursday we have a VERY big tour coming in, we need to make sure this place is spotless."
I looked right back at him and asked "who's buying us, and will I still have a job?"
Just gotta read between the lines, and keep an eye on everything going on around you.
You have to remember, while it's going through negotiations, the "seller" may choose not to sell.
Why would he, or anyone, open it up to him losing his workforce?

It'll be interesting to see what comes next.
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