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Fountain Aquired Baja

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Old 03-21-2008, 05:23 AM
  #141
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Originally Posted by phragle View Post
at least production isnt going to china or mexico and is staying in the US
amen to that brother!!!
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Old 03-21-2008, 08:01 AM
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This truly is a sad situation all around
Jobs are being lost and people are being devastated

I feel bad for those loosing there lively hoods
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Old 03-21-2008, 08:07 AM
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Fountain 100, Baja 300

While this may seem bad for the folks in Bucyrus, would it have been better for the company to not sell, and have to go BK down the road. The severence packages in that case would have been much worse.
I think this post pretty much sums it up.
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Old 03-21-2008, 08:27 AM
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I hope when the dust settles they are still making Baja in some shape or form. They are good boats at a lower price point that many can afford. These boat manufacter's really need to look at pricing, some are pricing thereselves right out of the market.
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Old 03-21-2008, 08:57 AM
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I hope when the dust settles they are still making Baja in some shape or form. They are good boats at a lower price point that many can afford. These boat manufacter's really need to look at pricing, some are pricing thereselves right out of the market.
I much agree with your comment. Prices are skyrocketing
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Old 03-21-2008, 09:16 AM
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A very sad turn of events for my neighbors out in Bucyrus. Even sadder for the boating industry. My guess is Baja's boat show season didn't give hem what they needed to keep going. It'll be interesting to see the details buried in Fountain's SEC filings. Just a guess but I figure Reggie picked up the brand for ptetty much nothing- just so Brunswick can keep delivering high-margin power packages.

For better or for worse, Ohio does have fairly restrictive laws on the closings of significant employers. These individuals receive extended benefits, education and/or retraining and some other things. It's not like Baja can kick them to the curb, no matter how much they might like to. While that won't help some who choose not to take full advantage of it, others can benefit from it. I have two friends who took advantage of this- one went from being a secretary into a fully paid RN program- and more than doubled her salary. The other went from running a machine to being a dental hygenist- and making $65K a year.

Now if Ohio could just do a better job of keeping these employers here...
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Old 03-21-2008, 09:36 AM
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Originally Posted by Magic Medicine View Post
These boat manufacter's really need to look at pricing, some are pricing thereselves right out of the market.
Maybe, but maybe big corporations just aren't very good at building these kinds of boats. Fountain certainly isn't delivering for his shareholders. At the same time, Skater & Cigarette seem to be busy turning out boats and doing well. So are more than a few smaller manufacturers. Maybe this market is better served by the smaller specialty boat builder. Builders who serve a specific niche.

I have a half-baked theory... Fountain is the problem.

Imagine the boating industry without Fountain. Right now Reggie is building a nice upper midrange performance boat. He sucks up alot of unit sales. Fountain selling a boat means someone else doesn't. Yet, Reggie makes no money on his sales. He spends heavily on marketing- either directly through ads or indirectly through his racing efforts. Because of his size and linkage to Brunswick, he can do things others can't- especially in the areas of financing. He certainly enjoys production cost advantages over his smaller competitors but he seems unable to translate any of this to profitability.

If Fountain were to magically disappear today, what would that do to to the industry? Would those units now divided up among the competition make each of those smaller manufacturers stronger & more profitable? Would those dollars not leaving the industry for marketing and promotional expenses translate into reinvestment by the builders and a better product for all of us? Would Powerboat Magazine survive? Or, would someone else just step into Reggie's place?
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Old 03-21-2008, 09:38 AM
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Chris you hit the nail right on the head , Mich is also going thru the same proplem & they need to do a better job of keep employers here also ......... G .G

Ohio is oppressive towards business. Businesses relocating or expanding look at Ohio and just laugh.
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Old 03-21-2008, 09:42 AM
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I know of a manufacturing plant and high performance real estate mecca available in Missouri if they are looking for a nice facility.

Will they acquire Nortech and Venom also


Funny $hit right there
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Old 03-21-2008, 09:43 AM
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I have two friends who took advantage of this- one went from being a secretary into a fully paid RN program- and more than doubled her salary. The other went from running a machine to being a dental hygenist- and making $65K a year.
I agree with what you have posted Chris but what we are seeing in this country directly reflects the above.

We are losing ALL the bricks and mortar manufacturing jobs in this country. That is what made this country great and really the only thing that can keep it strong.

While these service jobs may pay more over time no one will be able to afford the services without the manufacturing jobs.
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