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How sound is Reggie financially?

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Old 06-19-2008, 10:44 AM
  #51
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All I can say is that with this economy there are alot of people that are hurting,Reggie just happens to be one of the flamboyant ones but trust me there are alot of people.This economy blows for the middle income people of the world,buisness owners included.
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Old 06-19-2008, 10:47 AM
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HELL, no.....

I'm sure they'll be fine. If it goes lower Brunswick probably will execise their option to buy out Mr. Fountain and continue on their merry way....whatever way that is.
Brunswick's accountants probably have been warming some office chairs in Washington, NC. for a while. Brunskwick probably controls the payables and receivables on a daily basis.

The name change to Mercury-Fountain probably stemed from a risky Fountain extended receivable that exceeded the value of the company.

Your name is not front billing unless you are first in line !
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Old 06-19-2008, 11:11 AM
  #53
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The last posted stock price on the WSJ is .85/share.... perhaps he could buy it back at that price....but it still don't pay the debtors.....

I may not have liked his tactics and ego over the years but I feel bad for anybody who is going through this kind of stress.

Been there, done that.

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Old 06-19-2008, 11:17 AM
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How long is it that the stock gets de-listed if it's under $1.00 a share, is it 30 days or longer?
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Old 06-19-2008, 11:18 AM
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Baja was acquired by Brunswick but they really didn't want it anymore. Fountain didn't "buy" Baja.....he was forced to take the company since he owed so much money to Brunswick. Now Baja is Reggie's problem.

(At least this is what I've heard from a dealer that was considering carrying Fountain boats)
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Old 06-19-2008, 11:49 AM
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It makes the most sense that Fountain and Baja be built in the same place. That would allow Fountain to build about the same number of boats they used to but many more diverse models so sales can come up some.

The biggest problem is the new boat prices in general. Who the hell wants to pay $800+ per month over 20 years (+ 20% down) on a base model boat? That kind of pricing, either per month or outright, is leading people to keep their old boats. I'm getting my boat fixed up and the cavas shops are slammed, the painters are slammed, the mechanics are slammed. A friend of my brother's who owns a marina said he was doing great on new sales a couple years ago, now he's doing great on the fixing...
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Old 06-19-2008, 11:57 AM
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The biggest problem is the new boat prices in general. Who the hell wants to pay $800+ per month over 20 years (+ 20% down) on a base model boat? That kind of pricing, either per month or outright, is leading people to keep their old boats. I'm getting my boat fixed up and the cavas shops are slammed, the painters are slammed, the mechanics are slammed. A friend of my brother's who owns a marina said he was doing great on new sales a couple years ago, now he's doing great on the fixing...
That's interesting to know. Like your avatar!
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Old 06-19-2008, 12:03 PM
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That's interesting to know. Like your avatar!
You can't really buy any new boats for 800/month
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Old 06-19-2008, 12:06 PM
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It makes the most sense that Fountain and Baja be built in the same place. That would allow Fountain to build about the same number of boats they used to but many more diverse models so sales can come up some.

The biggest problem is the new boat prices in general. Who the hell wants to pay $800+ per month over 20 years (+ 20% down) on a base model boat? That kind of pricing, either per month or outright, is leading people to keep their old boats. I'm getting my boat fixed up and the cavas shops are slammed, the painters are slammed, the mechanics are slammed. A friend of my brother's who owns a marina said he was doing great on new sales a couple years ago, now he's doing great on the fixing...
"Slammed" may not be the nationwide status. Many marine service businesses are also suffering. Bottom line if you are not burning gas, you are not creating failures and maintenance issues....... We are seeing lower boat traffic in the northeast.

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Old 06-19-2008, 12:28 PM
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"Slammed" may not be the nationwide status. Many marine service businesses are also suffering. Bottom line if you are not burning gas, you are not creating failures and maintenance issues....... We are seeing lower boat traffic in the northeast.

T2x
MUCH lower boating traffic around our parts.

As a matter of fact, in a move to try and incent us to go boating our marina got smart and are now offering a 10% discount on fuel for marina customers.
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