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Passport Marine Officially Over

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Old 04-08-2008, 06:07 PM
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Just heard from a Formula rep today...................They are trying to get some of the brand new Formula boats they have gotten from Passport Marine re-habed before they try to sell them. They have told me there are brand new Formula boats that have over a hundred hours on them and are totally trashed inside and out. They say its as if people have been camping out on them. Amazing.
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Old 04-08-2008, 07:13 PM
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It's not amazing, let's leave the canvas and curtains up, the cockpit carpet on the deck, and park it in the Florida ozone, only thing left is to sea trial 'um for any one that stumbles over the curb and, flush the engines, what's that?
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Old 04-08-2008, 07:24 PM
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What IS amazing is Andy Sturner is touting his company as being a MARINA MANAGEMENT COMPANY on top of everything else. Doesn't seem like he did too good a job of managing his marina, or Passport.
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Old 04-11-2008, 10:43 AM
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I went to an exclusive home on Miami Beach yesterday to do some work on a 38' Formula boat. I started Talking to the boat owner. He told me was an investor in Passport Marine. He said he has now lost a Million Bucks. One Million Bucks.
It makes the five thousand dollars they owe me look like nothing. It's all relative I guess.
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Old 04-11-2008, 01:48 PM
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Keep an eye out for this one, it's from the St. Pete location:
http://www.offshoreonly.com/forums/s...d.php?t=178791
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Old 04-11-2008, 02:06 PM
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Thats why some of the boats taken from Passport have over a hundred hours on them and are said to be trashed.............

Maybe this is one of the boats in inventory that they can't locate!
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Old 04-11-2008, 02:07 PM
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Too many "investors" get into the biz because they think it's all glam and everyone is making tons of money. It's a very hard business to make money at. Passport was doomed from day one.
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Old 04-11-2008, 02:26 PM
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Quote:
Originally Posted by glassman11 View Post
Thats why some of the boats taken from Passport have over a hundred hours on them and are said to be trashed.............

Maybe this is one of the boats in inventory that they can't locate!
15th Ave S., St Petersburg. It was there 2 days ago, last time I was at the marina.
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Old 04-11-2008, 05:26 PM
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Glassman, your customer on the beach, did his last name start with the letter "z".
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Old 04-11-2008, 06:06 PM
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Quote:
Originally Posted by clambake View Post
Glassman, your customer on the beach, did his last name start with the letter "z".
Yep...... He got sucked in by Andy and Jim and stock options.

They both probably will come out OK, while all the people around them get screwed. But yeah, the Z guy bought into the hype, put up money, and now he"s the big loser. When they sold a boat at Hi-Lift, They must have given out a Passport Investor prospectus with it!
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