LapseofReason

Well if he goes under and he still owns his own molds he should start building boats that are more high end like OL & NT he has the speed just lacks in fit and finish and the higher end stuff in the cabin. Just build 5 42's to the 9'S not 50 5's don't build a boat unless you have a buyer.

HabanaJoe

My 2 cents - I think this is what he wanted to happen, he will be able to operate without everyone looking over his shoulder. Let me ask, do any of you sit at the helm of a public company, is it fun or grief?

RaggedEdge

And I say well put, again!!!

Skullkrusher

A lot of misinformation here. The fact that it is delisted does not mean that the stock is gone or that it is no longer a public company. It's still a public company and a going concern, it's just that the stock is now traded over the counter(OTC) instead of on the American Stock Exchange.

RaggedEdge

I think the State and / or local gov deal was a development deal of sorts. If I remember right it was to assure that the added jobs connected with the acquisition of Baja would end up in NC. The state of Ohio and local governments there were talking to Fountain in an effort to keep those jobs there as well. You must remember the Reggie bashing that was going on then, what a SOB he was for taking all those jobs away to NC. Low interest loans, outright grants, grants with performance conditions attached, all a very common thing these days, jobs are a precious commodity in this economy.

Here in northern New York the Power Authority of the State of New York recently finalized their deal with Alcoa. Providing support in the way of large blocks of cheap hydro power in exchange for Alcoa's promise of plant investment and jobs to be kept here locally for many years to come. Similar efforts were made by state and local officials to work with GM to keep the jobs at the Massena, NY GM Powertrain plant. That one hasn't worked out so well, this mornings local newspaper in bold print, says all operations will cease as of May 1, 2009. A 50 year old facility, that at one time employed over 1200 people, gone. It's a sign of the times I guess, but a big blow to a small community that grew and prospered for decades around those jobs. The Alcoa plant I mention above is located in the same community.

Reggie is a sharp individual, I assume he made himself a fair deal to place those jobs in NC.

HabanaJoe

skullcrusher - a lot less eyes then sitting on the big board. I think you will see Reggie buy it all back up somehow and go private again?

Reggie has a good following, good marketing and a fast product at a resonable price. The timing is right to let the price nose dive and buy it back at a bargin if he has the cash/credit and take control back.

What's to say he won't bankrupt it and then buy it all back for pennys on the dollar and get rid of that public headache?

People might say his ego will prevent that but on the other hand since it's not really Reggie's anymore but the shareholders, their disessions/hand holding/ meddling are what put Fountain in this position and if he were in total control it would be a different story - hence his inflated ego rules the day!

Couldn't he do that?

TEAMBAJA

Ron P

Why would anyone on this board want to see Reggie or anyone in the marine business fail?

I hope he makes it through these hard times. And all the others too.

Expensive Date

First of he was delisted on Nasdaq is still a public traded company just listed on AMEX.Did drop 27% to .24 from .31 with no afterhours trading yet.I don't think fountain is going anywhere and if you read there quarterly report they made money last quarter.
Risky and may take a while but when this economy turns around if Fountain goes back up to $5.00 a $1000.00 investment is $20835.00.Might not happen but I would write a lot of other companys off before Reggie

MaroonKnighty

It's fun to pick on Reggie but I've got to agree with you. I don't want any marine business to fail; dealer, manufacturer, supplier, commercial, marina, tourism, etc.