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chapter11..give it a rest

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Old 08-26-2009, 11:18 PM
  #41
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Originally Posted by Todd Hartigh View Post
Purple hornet,
If the marketing was so good they would have sold more boats. I would think that after a few years of declining sales they would realize that sponsoring all the boats, paying for multiple front page adds, and producing videos, does not work anymore. If the boats are the best they would sell themselves...like skater, mti, outerlimits ect...
With all the money they likely spent on crap they could almost run for a year.

RaggedEdge,
If it was like your example I would agree but...fountain seems to have had several problems:
http://www.offshoreonly.com/forums/g...ain-stock.html

http://www.offshoreonly.com/forums/g...introuble.html

http://www.offshoreonly.com/forums/g...-s-future.html

http://www.offshoreonly.com/forums/g...nancially.html

http://www.offshoreonly.com/forums/g...ot-pretty.html


You have to wonder how they purchased baja with no money or somehow was able to get a loan. They already new the market was turning to crap yet:
http://www.offshoreonly.com/forums/g...ired-baja.html

Had to get bailed out by Merc:
http://www.offshoreonly.com/forums/g...ks-reggie.html

It appears that fountain always escapes bankruptcy! Except this time.
All the statistics that you have posted are the result of the start of the economies down fall, from the gas price jack up. Maybe buying Baja was a bad idea but who thought the economy would have kept falling and falling. Show me where other boat companies have gained in that time frame or any other business besides repo companies.

Here are some stats

The fourth quarter of 2008 finished with an increased rate of decline on sales volume. The total fiberglass market for all lengths was down 40.2 percent on 9,421 units for the quarter.
These statistics are based on registration data from all 50 states. This is the second consecutive year with the entire country reporting.

Last edited by PURPLE HORNET; 08-27-2009 at 12:17 AM.
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Old 08-27-2009, 12:19 AM
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I agree it was during the downturn. I cant see the future but... even I could see the economy was crap and it did not look like it would recover anytime soon. Seems they took a gamble and continued as usual.

I may be wrong but it appears that Skater, Nortech, Outerlimits and a few others seem to be expanding there product lines and selling boats or restoring existing customers boats. Especially Skater!
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Old 08-27-2009, 12:58 AM
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Originally Posted by Todd Hartigh View Post
I agree it was during the downturn. I cant see the future but... even I could see the economy was crap and it did not look like it would recover anytime soon. Seems they took a gamble and continued as usual.

I may be wrong but it appears that Skater, Nortech, Outerlimits and a few others seem to be expanding there product lines and selling boats or restoring existing customers boats. Especially Skater!
Those three companies combined don't build 350 boats a year. They also cater to the super high end client, not the upper class. apples and oranges in my book.
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Old 08-27-2009, 01:43 AM
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He said:
"Show me where other boat companies have gained in that time frame or any other business besides repo companies."

I didnt see anything about who builds the most boats!

Fountain builds several poker run boats with similar price tags and are competing for the same customer. If fountain only sells a small portion of boats to the super high end client then Fountain should have focused marketing on the upper and middle class. Instead they will soon be building less boats than one of the companies.
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Old 08-27-2009, 08:32 AM
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Quote:
Originally Posted by Todd Hartigh View Post
I agree it was during the downturn. I cant see the future but... even I could see the economy was crap and it did not look like it would recover anytime soon. Seems they took a gamble and continued as usual.

I may be wrong but it appears that Skater, Nortech, Outerlimits and a few others seem to be expanding there product lines and selling boats or restoring existing customers boats. Especially Skater!

Like said the comparison to these three is not apples to apples. Their customers are on a different level than the average Fountain buyer. The super well off, though hurt by the market and general downturn like everyone, still have the income level to support their passion for a perf boat, be that improve it or buy a new one. The Fountain buyer is more likely to be faced with trying to keep what he has, or even sell it off, in order to maintain his home and base lifestyle in these times. Talk to marine dealers, most will tell you that their higher end products are not suffering as much as their average joe products. Even the average joe that is ok right now and may have a little cushion sitting somewhere likely is being very cautious. Fountain is an upper level production boat, and has been hit hard. Baja is a step down and I would think it has taken an even bigger hit. If you followed the Fountain site you would have seen them start to go after the "Freshen Your Boat" work a while ago. Great idea, problem is the guys likely to upgrade an older boat don't have any money right now either.

No money = No sales, No sales = No money. You can only run around that circle for so long. I still think Fountain will somehow survive, different deal, but still here.
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Old 08-27-2009, 08:52 AM
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Just wait until Barry gets into the pockets (and is there ANY doubt that he will?) of the owners that can have New Skaters, Cigs, and OLs and we shall see who is left building boats in the USA.

I see a future for these marks,


















in Saudia Arabia, or perhaps Baharain.
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Old 08-27-2009, 09:00 AM
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Two posts and you're the new expert, well to say chit happens likely won't register. So lets try this ...........................

You must have a good friend, right? So your friend makes his living in an industry that thru no fault of his just plain tanks. Now his income has dried up. So now he can't make good on his "promise" to pay the banker that loaned him money to buy his house, his two vehicles, his toys, and his credit cards. Faced with losing everything he has worked for he files bankruptcy in an attempt to possibly get on his feet and save something. He was living a good life, had it all, now he's in deep chit. Must be he's some low life POS con-man, Right?

Or is your good friend just going thru some very difficult times and deserving of time and support to try to get back on his feet and productive again? This chit is happening every day in this country now, rich man or poor man, it just isn't that fussy who it's taking down right now. Count your blessings that it has not been you yet, and hope that you are not next. This chit could happen to any one of us. Would you want to be talked about in the same manner some are talking about this man right now, think about that.
Well maybe thats part of the problem people and businesses living and operating well above their means. What happened to saving some money and buying something.
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Old 08-27-2009, 10:02 AM
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Now THAT would be News worth discussing!!!
Right up there with the Schwartzcraft.............

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Old 08-27-2009, 12:19 PM
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Well maybe thats part of the problem people and businesses living and operating well above their means. What happened to saving some money and buying something.
If everyone saved to buy a $200-400 thousand dollar boat, there would be no boat industry!! Plus, If I had say $250 grand available in one chunck to buy something, it certainly wouldn't be a boat. I'd finance the boat and leverage the $250k.
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Old 08-27-2009, 02:32 PM
  #50
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I'm NOT Talking about a Fountain.Just the way people are talking about it.The situation

Say if YOU had something redone by a business and they didn't do the job right,treated badly ,talked down to,The Rebuilt product came in damaged because of no packaging,doubled the quote and didn't tell ya untill charging your CC,She told you if you don't pay the full amount you want get your product back,accused you of lying about being warranty work,You had the receipts that proved the previous shoddy work done, and picks of damage to the boat,them saying they didnt do the work.They charged you the labor and materials that was warranty, that they said they would pay for including shipping.Charge you labor that they didn't do,That you had already done before shipping it back.There was Nothing you could do about it,Then something bad happens to this person/business, How would you feel?


Would it be petty to you?
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