Has the industry ever been hit this hard?
04-11-2009, 09:03 AM
#21
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Lot of good info, I think one of the other keys is that the banks being "loose" in the past have left more boats on the market than ever before. everyone is waiting for bottom. Being in a business tied to the auto industry I have seen business off by about 50% but I am still making it. I think most consumers are saving, but like GL, i will go out and enjoy it. It will come around, it always does...just takes time.
04-11-2009, 09:15 AM
#22
Correspondent
Correspondent
GLH,
With all due respect, I'm reasonably sure the recession were currently in is not a media invention. As for the "gloom and doom," I completely understand where you're coming from, but right now the news simply isn't good. Just read this thread.
Someone mentioned the "looseness" of the banks getting us into this mess in the first place. Without question, the collapse of the sub-prime loan market (and that was as loose as it gets) played a major role in our current economic state.
I'm not gloom and doom. I know we'll come out of this. But it's going to take a lot of work and some time.
With all due respect, I'm reasonably sure the recession were currently in is not a media invention. As for the "gloom and doom," I completely understand where you're coming from, but right now the news simply isn't good. Just read this thread.
Someone mentioned the "looseness" of the banks getting us into this mess in the first place. Without question, the collapse of the sub-prime loan market (and that was as loose as it gets) played a major role in our current economic state.
I'm not gloom and doom. I know we'll come out of this. But it's going to take a lot of work and some time.
04-11-2009, 09:26 AM
#23
Platinum Member
Platinum Member
All I mean is with those pinheads saying the sky is falling enough to blow our eardrums out, people don't spend for fear of whatever... and that messes up business everywhere. Unless you have a funeral parlor or five!
04-11-2009, 10:00 AM
#25
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Correspondent
GLH,
I with you there, my friend. The media has fueled the "fear to spend" fire, and that's played a big part in getting us where we are.
I with you there, my friend. The media has fueled the "fear to spend" fire, and that's played a big part in getting us where we are.
04-11-2009, 12:47 PM
#27
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we are in a depression
i make an 18 commerical fishing boat for less then 20 rigged. boat is well built and still they are a hard sell. everyone is spending less. Lots of fiberglass repair work. people want to have fun and they are digging out the old to do it. parts and repair business will do well new sales not so much even on the high end fast pieces
C
www.battlewagon18.com
i make an 18 commerical fishing boat for less then 20 rigged. boat is well built and still they are a hard sell. everyone is spending less. Lots of fiberglass repair work. people want to have fun and they are digging out the old to do it. parts and repair business will do well new sales not so much even on the high end fast pieces
C
www.battlewagon18.com
04-11-2009, 01:13 PM
#28
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I don't think you can blame this economy on the media...
My personal portfolio is down about 40% this past year
Unemployment is at record levels
National Liquidators is repossessing 4 to 5 boats per day in S. Florida
Things will eventually improve, but I do believe there will be a fundamental change in the economy going forward. The days of easy credit, sky high credit card limits, and over inflated home equity loans are gone......as it should be. There will be less discretionary spending in the future. This will have a permanent impact on the boating industry for years to come.
My personal portfolio is down about 40% this past year
Unemployment is at record levels
National Liquidators is repossessing 4 to 5 boats per day in S. Florida
Things will eventually improve, but I do believe there will be a fundamental change in the economy going forward. The days of easy credit, sky high credit card limits, and over inflated home equity loans are gone......as it should be. There will be less discretionary spending in the future. This will have a permanent impact on the boating industry for years to come.
04-11-2009, 01:34 PM
#29
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I posted this a few days ago in another thread, but I think it speaks volumes here as well... This is my personal opinion, but it seems to be shared by many more:
Guess I am seeing the opportunity... If all the people are going under, it is time to take the best people and aspects of each business, bring them together and build the "best of the best". It doesn't matter what business it is, opportunities are everywhere...
Sometimes a "cleansing" makes everything that much stronger when it rebounds.
As soon as people start looking at the positives, see the opportunities, take the risk of moving forward and stop listening to all the "poor me" BS that is all around them, we will start to rebound and never look back...
That's my plan, and I'm sticking to it!!!!!!
Tony Robbins, try and keep up with my attitude!
Guess I am seeing the opportunity... If all the people are going under, it is time to take the best people and aspects of each business, bring them together and build the "best of the best". It doesn't matter what business it is, opportunities are everywhere...
Sometimes a "cleansing" makes everything that much stronger when it rebounds.
As soon as people start looking at the positives, see the opportunities, take the risk of moving forward and stop listening to all the "poor me" BS that is all around them, we will start to rebound and never look back...
That's my plan, and I'm sticking to it!!!!!!
Tony Robbins, try and keep up with my attitude!
Last edited by bajaholic; 04-11-2009 at 01:38 PM.
04-11-2009, 01:34 PM
#30
I get the point about loose banks, but I think they have gone the other way. I'm in the proceses of a home refi. Same company, just went to a 10 year, 130k on a 600K house, 800 score. I thought that would be a no brainer, even if they turn me down they still hold the paper. Now they want other paperwork and 95% of my income is on a W2 or a 1099. WTF I can't imagine what a boat or R/V would be like. Doug
