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How sound is Reggie financially?

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Old 06-18-2008, 10:09 AM
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Cig will have no problem. The backing is very strong and their global demand will continue.
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Old 06-18-2008, 10:17 AM
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FPB up $0.19 on the news.

Someone once said “as goes Fountain, so goes the hi-per boat industry”

Lets see 4,361,000 shares outstanding, at $1.19/share, that’s $5,189,590 in market.
Yearly revenue $68,830,000, annual loss of ($5,046,000), sounds like it might be fun to buy out, re-structure, and turn a profit.

100 investors at $50,000 each, and we own FPB, anyone in?
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Old 06-18-2008, 10:19 AM
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Why he is wasting the money on efforts like "Cat Killer" and racing against himself on various circuits is beyond me.
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ego... napoleon complex
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Old 06-18-2008, 10:22 AM
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Reggie is just fine. Fountain Powerboats on the other hand who knows...
Didn't Brunswick buy Fountain? Or get shares of FPB for payment of product?
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Old 06-18-2008, 10:26 AM
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100 investors at $50,000 each, and we own FPB, anyone in?
Can we change the name?

Personally, I'd rather buy Skater.

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Old 06-18-2008, 10:30 AM
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Didn't Brunswick buy Fountain? Or get shares of FPB for payment of product?
No, Brunswick didn't buy FPB. They gauranteed a line of credit (18MM total I think) for FPB with some stipulations that included meeting specific goals for sales/profits. If they are not met then they can take control of the company and buy reggies majority out for basically nothing (I think $1MM).

There has been a milestone that passed about 2 years ago where things changed but I can't remember the specifics.
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Old 06-18-2008, 10:50 AM
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No, Brunswick didn't buy FPB. They gauranteed a line of credit (18MM total I think) for FPB with some stipulations that included meeting specific goals for sales/profits. If they are not met then they can take control of the company and buy reggies majority out for basically nothing (I think $1MM).

There has been a milestone that passed about 2 years ago where things changed but I can't remember the specifics.
Thanks, I remembered something between the two companies.
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Old 06-18-2008, 11:08 AM
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Overseas sales are key to survival right now it seems. That leaves Nor-Tech, Cig, etc. on better footing than some others. Anyone know what percentage of Fountains head across the border or ocean? I agree with focusing on P1 for overseas exposure and dropping the silly Cat Killer antics. Focus on customer service and price here in the States.
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Old 06-18-2008, 11:10 AM
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I don't know the numbers, but Fountain Worldwide is the international dealer and they are doing well. It is headed by Craig Wilson (a member here) and last he said they were very busy. He also drives the race boat overseas.
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Old 06-18-2008, 11:15 AM
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"According to Reggie Fountain, he has been in negotiations with Brunswick Corp., owner of Baja Marine, for almost a year. “This transaction was not forced on me,” Fountain said in an interview yesterday. “All of my lawyers, bankers, and advisors have said this is a good deal for Fountain Powerboats and I’m very happy with it,” he said. "


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