chapter11..give it a rest
09-04-2009, 04:20 PM
#61
Registered
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.
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.
Yes, I do have a “good friend” that is in an industry that is struggling through no fault of their own.
The difference between my friend and Reggie is that they have not spent money that they did not have. Reggie has been using money received from lenders and people that have invested into his publicly traded company and my belief is that he did so irresponsibly. As the CEO of a public company his ultimate responsibility is to the shareholders, whom I believed he failed.
It is not Reggie’s fault that the economy tanked…however the boat business, like the US and World economy is cyclical. He should have seen this coming a mile away.
Perhaps “con-man” was a bit out of line, but to me with all of his show-boating, slamming other manufactures and then promoting FPB stock in all of his advertising, Reggie has placed himself in the company of other Wall Street weasels
I have always respected Reggie, his boats and what he has done for the sport. That is why I am so disappointed that he has brought this company to bankruptcy. I guess that is what happens when you run on the Ragged Edge.
