offshoredrillin

Wonder if the scumbags paid the money to the RPBA for the Shriners hospital?

hp500efi

Someone will chime in....I doubt they did.


I have heard the same thing when he took over Baja

Many of those dealers said F'U' Reggie and are still around and not in Bankruptcy

mcraymond3

I think they will be fine in the long run. They have a great product and great customer service! Who isn't having a hard time in this economy?

JasonSmith

ACTIVESHACK

We got paid.

hooky40

I'm not going to pretend that i know anything about the company's finances, but "just running out of cash" means he can't pay bills or get financing, therefore liquidation could and most likely will take place. I'm not a bankruptcy attorney or anything, but my guess is that they do liquidate. There are very few people out there right now who can afford to buy a super luxury item like a NEW Fountain (Especially after rigging it properly). Even if they don't liquidate, it will be a Fountain fire sale on hulls if they don't emerge quickly with a viable re-org plan (slash employees and all outside costs and get a loan) or possibly an acqusition by an outside source, or both (ala Cougar for Magic). Business is business and no one, outside of Obama, is gonna save them just so the brand doesn't go away (see General Motors).
Thats just my take on it, but i'm pretty sure I have been wrong once before.

tomtbone1993

iTrader: (3)

Wow Rob that is very nice of you to say those kind words. I aggree

GLH

It's Fountain so it is more than likely actually Chapter 7.5


Hope it is not Chapter 9 with the steps???



All kidding aside tough times for the whole industry.

carcrash

The reason I don't think they will in fact liquidate is because the company is worth far more as a company than as equipment.

From the last 10K (June 2008), they had about 38M in debt, and about 90M in assets, so there is a lot there.

baja27

Dam guys cut the company some slack, hope they come through one of the best boats being built now.