Originally Posted by T2x (Post 2939081)

Thank you, Diane Sawyer..........

Originally Posted by ZXXX Donzi (Post 2938878)

Chapter 7 is personal bankruptcy. You won't see that unless Reggie is a guarantor or obligor. I doubt he is

Originally Posted by ZXXX Donzi (Post 2938878)

Chapter 7 is personal bankruptcy. You won't see that unless Reggie is a guarantor or obligor. I doubt he is

11's can take a while. Various secured lenders can get a lift of stay before it is all over. Earlier lift of stay grants are usually reserved for asset based lenders that may actually own assets of the company. It is all up to the trustee now.

Companies with a big name often emerge. It just depends on what someone wants to pay for the name.

Originally Posted by Matt Trulio (Post 2939009)

Because Reggie Fountain is something of a public figure, it's good sport to make fun of his personal style and all that. Fair enough ... you court the public, you take what you get from it. But regardless of what you think of Reggie or his product (Was it innovative or just good marketing?) the man has done as much, no, screw it, much more, than anyone, even Don Aronow to promote the high-performance boat industry.

Only an idiot would count him out.

Originally Posted by carcrash (Post 2939038)

I am in discussions with a few billionaires (members of my yacht club, and my best man) about if Fountain could be a good investment. The very rich were not hurt in this downturn: they knew the "tax less, spend more, send trillions to the middle east" Bush concept was a short term play, and they played it so: they pulled out 12 months or less before Bush was done. Its all the poor suckers (the common rich) like you and be who kept their money in 401Ks, commercial real estate, and/or private corporate holdings "for the long term" that took it in the net worth. We'll see who ends up with Fountain, I expect it will be one of my buddies.

Originally Posted by carcrash (Post 2939036)

That's exactly how I see it. Note that the terms of their loans moved long term debt to current debt. I am sure that's what triggered this: the loans basically being called by the lender because Fountain could not meet their "ratios." Continuing at any level will require cash. Seems that Fountain has been stripping cash from the company for as long as SEC keeps records: there was nothing in the coffers to keep it running in a downturn.

I think its amazing that a company that sold a quarter billion dollars in boats over the past 4 challenging years is on the block for a handful of millions -- and they for certain won't get that.

Its funny how bad political policy -- policies that clearly make no sense (e.g., tax less, spend more, and cut personal taxes of high earners so its less taxing to such all the capital out of a company than to leave it in the company) come back and destroy those that boost such idiocy. Sorry, Reggie, but being a Republican can't save you from the parties idiocy. Everyone pays for those self-delusions.

Responsibility is the only way. Funny how the party that claims that everyone needs to be responsible for themselves is the least responsible with political power. Yup, liars never prosper.

How did that bunch of obscene liars ever claim moral high ground?

Originally Posted by iamjoe (Post 2938773)

Is it true that Skip Braver is taking it over?