Yeah, when he was about 10.

T2x

I don't disagree with you - there is no doubt our tax dollars are squandered in every way possible, but to the average low to middle income family this isn't going to sit well using tax money to bail out a company whose entire existence is based on sales of something as overindulgent as offshore powerboats.... Boats whose half-million dollar price tag is probably 5 times the mean house price throughout much of N.C.

I hope the people who are making these transactions aren't as stupid as the person who wrote the article on the front page of OSO. Anyways, I wish Fountain Powerboat Industries the best in their new venture of building high performance "oats."

Not sure, I would have to really research the relationship between Fountain and Baja...does anyone know if Fountain is the parent company of Baja?

In my business I trade in and out of positions in a number of different legal entities (which report seperate P&L) even though I work for one company, so I don't think what he is doing is that uncommon.

I normally steer clear of these topics, but decided to open my big mouth.

Why does it matter what the new jobs are for? I mean, they are jobs, right? If you were unemployed prior to this, but employed after, would you really care if you were building expensive play toys for the rich? I'd just be happy to have a job.

I feel bad for the Baja employees in OH. But, getting angry at Reggie for getting a grant is pretty petty. Maybe get mad at the previous management of Baja for not getting a grant from OH, or get mad at the state of OH for not granting the monies like NC did. But don't blame Reggie, he's pulling out all of the stops to stay solvent.

His reasoning for moving the jobs to NC makes perfect economic sense to me. I mean, he gets to spread overhead over both operations, it's just more efficient. Again, having been through this myself, I feel bad for the individuals affected in OH.

With all that said, this grant is a band-aid. Reggie's banking on this economy turning around fairly soon. If it doesn't, I think doors will close at Fountain/Baja and lots of other places as well.

I hire people and never get a grant. It always seems that I have to pay more. These grants are for the birds, it is still tax money from everyone being used for stupid things.

We have a sheriff's department in my town and the guy is always getting grants. He has a mobile command center bus, armored assault vehicle and now a boat that I have not seen yet, but I hear it is very nice. Remember our sheriff's in MA have no law enforcement capability, they only guard prisoners. With Homeland Security he can get things that other sheriff's departments get. The only water is a small pond near the prison. The cops in Boston Harbor are pissed, because they needed a boat and he got it with a grant.

My point wasn't the 250 jobs that have been created, that is fantastic. My point was that to a LOT of other people they will see this as a lot of money spent by the government to bail out a company that sells such an extravagant item as irrational - and they will have a valid perception.

Seperate facilities I understand, even if they are on the same property. What I don't understand is how could you make Baja's and Fountain's in the same building and keep the P&L seperate?

Nothing but cooperate welfare.

Good for Reggie and real bad for me as a tax payer.

There is no way in hell he will create 250 jobs.

Agreed.

Irrelevant. Either you're for the govt. helping a private industry to stimulate the local economy or you're not. Doesn't matter if the company makes blankets for the homeless or rich people play toys. Jobs are jobs. Me personally, I'm more of a pure capitalist, however, it's always a positive to create jobs.

This type of thing happens more often than you think in the form of tax incentives and the like. It just gets alot more press time on here because it involves Reggie and he's got a way of polarizing people.

As a taxpayer you should seperate the economics from the product.