chapter11..give it a rest
08-26-2009, 11:42 AM
#31
Registered
08-26-2009, 12:28 PM
#32
Registered
everyone loses???
first off he's a multi million aire that won't loose a nite's rest while his attorney's are busy screwing all the employees that are scratching their heads and wondering if their going to have a job next week?
i wonder how many of the businesses that have declared bankruptcy would still be around today if there owners or CEO's had to put up a large share of money for collateral on the loans that were being handed out?
.
first off he's a multi million aire that won't loose a nite's rest while his attorney's are busy screwing all the employees that are scratching their heads and wondering if their going to have a job next week?
i wonder how many of the businesses that have declared bankruptcy would still be around today if there owners or CEO's had to put up a large share of money for collateral on the loans that were being handed out?
.
First a there are a lot who lose with a business closing. From suppliers all the way down to those family members that depend on the employees you mention that may not have jobs to go to next week.
I somehow doubt that with all the apparent pride Reggie has in his product, call that egotistical or arogant if you wish, that he is not concerned about the future of Fountain Power Boats. Were he not concerned about employees I doubt he would have gone into the Baja deal. It was a means to keep producing boats, if you can't build "X" Fountains per year due to the changes in the industry then why not keep your people busy and employed by building "1/2X" Fountains and the balance in Baja's, as well as keep your doors open. Might have worked out were it not for the way things crashed. Another point here, do you see Fountain employees on here trashing Reggie the way some Baja employees did when Brunswick pulled the plug on them?
If you want to discuss fiscal irresponsibility you should call up your Congressman, your Senator, and your Prez. Ask them WTF they're thinking, who's money do they think they're spending? Would they triple the debt from one year to the next if it was their own money at risk?
Last edited by RaggedEdge; 08-26-2009 at 12:32 PM.
08-26-2009, 12:38 PM
#33
Registered
Well you're safe Bird! You can always check mine out cause I'm not about to give up on the brand.
P.S. Well put there.
Platinum Member
08-26-2009, 02:45 PM
#35
Registered
Of course he's a millionaire, so what. He built the company and made money (he had money before FPB). And, he's not "screwing his employees". Employee means just that, employee. Not owner, not business partner, just employee. When a business goes south, so do the employees. If employees don't like that deal, they can have a go at their own business.
As for "using investor's and other's money thru accusitions and paper deals to squeeze every possible dime of profit for his businesses with out putting any of his $$$$ at risk.", well, that's the way it's done man. It's business and it's ruthless. It's capitalism, it's self-preservation, it's how money is made.
It's good to discuss this stuff but, for some reason I can't grasp, a lot of you guys want to throw Reggie and others under the train. You guys remind of punks who kick the tough guy after someone else besides you knocked him down.
I think it's a bad thing for the industry that FPB is in trouble. They make some of the fastest, coolest hardware on water. I'll miss FPB if it goes away for good.
As for "using investor's and other's money thru accusitions and paper deals to squeeze every possible dime of profit for his businesses with out putting any of his $$$$ at risk.", well, that's the way it's done man. It's business and it's ruthless. It's capitalism, it's self-preservation, it's how money is made.
It's good to discuss this stuff but, for some reason I can't grasp, a lot of you guys want to throw Reggie and others under the train. You guys remind of punks who kick the tough guy after someone else besides you knocked him down.
I think it's a bad thing for the industry that FPB is in trouble. They make some of the fastest, coolest hardware on water. I'll miss FPB if it goes away for good.
If he owed me money I'd be very frustrated with the way Mr. Fountain "Show Boated" with all of the poker run/race sponserships and over top marketing campaigns...not mention the pimp style gold chains.
I thought that this guy had really deep pockets and/or was still moving a lot of boats.
Seems like he is just another con-man now.
08-26-2009, 08:36 PM
#38
Registered
Join Date: Oct 2008
Location: Bird Nest
Posts: 340
Likes: 0
Received 0 Likes
on
0 Posts
As an employee you are not promised a job...but as a lender and supplier you are given a promise that you will be paid.
If he owed me money I'd be very frustrated with the way Mr. Fountain "Show Boated" with all of the poker run/race sponserships and over top marketing campaigns...not mention the pimp style gold chains.
I thought that this guy had really deep pockets and/or was still moving a lot of boats.
Seems like he is just another con-man now.
If he owed me money I'd be very frustrated with the way Mr. Fountain "Show Boated" with all of the poker run/race sponserships and over top marketing campaigns...not mention the pimp style gold chains.
I thought that this guy had really deep pockets and/or was still moving a lot of boats.
Seems like he is just another con-man now.
I think all Reggies marketing and campaigns did Fountain good. He implanted the Fountain name in a lot of peoples head and showed them Fountain has the fastest V bottom.
Deep pockets or not you cant keep building boats if nobody is buying them. Have you seen the smokin deals on boattrader lately. I have seen 07/and new 08's still for sale. Its not Reggies fault that the economy hit the ground floor.
08-26-2009, 08:58 PM
#39
Registered
As an employee you are not promised a job...but as a lender and supplier you are given a promise that you will be paid.
If he owed me money I'd be very frustrated with the way Mr. Fountain "Show Boated" with all of the poker run/race sponserships and over top marketing campaigns...not mention the pimp style gold chains.
I thought that this guy had really deep pockets and/or was still moving a lot of boats.
Seems like he is just another con-man now.
If he owed me money I'd be very frustrated with the way Mr. Fountain "Show Boated" with all of the poker run/race sponserships and over top marketing campaigns...not mention the pimp style gold chains.
I thought that this guy had really deep pockets and/or was still moving a lot of boats.
Seems like he is just another con-man now.
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.
08-26-2009, 09:56 PM
#40
Registered
Join Date: Oct 2000
Location: Spring Lake, MI
Posts: 328
Likes: 0
Received 0 Likes
on
0 Posts
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.
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.
