chapter11..give it a rest
 

I know there are better things to discuss??????????

not really.

cigarette vs apache vs fountain


witch is better?:party-smiley-004:

Dude, it's a forum...for discussion...and no one is forcing you to read that thread.

Its the biggest thing in the industry right now. I hope they come out of it better.

I think that there is stuff going on here that will change the face of boatbuilding forever and may or may not take a large builder away forever. Therefore reducing resale values and making warranties worthless. Now I understand that there are some dumb comments about unrelated stuff on the thread but the chapter 11 stuff is important. It may have an impact on things like mercury which is obviously having there own issues right now.

Sorry to say but this is the way bussiness is done these days. No body gets that far into debt without realizing it and having this as a plan in the end. I'm sure his life style won't change one bit. What the shame is is that he probably owes some small guys who will be put out of buss. as well. The banks that gave him loans when obviously he had no ability to pay. How did the Baha aquisition even go thru? My guess is that Fountain will stay alive with him or another paper owner and only the little guys will take the hit. IT STINKS!

Are you f*ckin' serious?? This is the biggest news in performance boating in YEARS! People are interested and talking about the events and the possible outcomes. Kind've the whole point of a performance boating website...To talk about industry news:rolleyes::rolleyes:

Here's something different to talk about, and fairly recent news.

Brunswick discontinues production of Maxum brand


http://www.boating-industry.com/output.cfm?id=2257921

Why do I get the sense some people are all "giddy" inside with the recent news...

I really hope Fountain as a company and Reggie make it through this Chapter 11.
I have not had the honor of doing a boat with the legend at this point.
Was hoping we could have partnered in a V bottom speed record attempt together.
Who knows what the future will hold.

Good luck guys.

John Arruda

Kinda funny --- a thread asking if there`s anything better to discuss than the Fountain chapter 11 news has turned into yet another thread about Fountain`s chapter 11 news . :drink:

This is NOT the correct forum to discuss needlepoint or baking cookies.


This IS the correct forum to discuss PERFORMANCE BOATING NEWS.

Thanks Donman! Best post of the day! :drink:

OSS died this month as well ,Hope that helps .:grinser010:

WHAT?

Is anybody keeping track of the boat companies that have went under, not just performance?

Here are a few from 2008/2009 not all boat companies

Mattress Discounters
KB Toys
Black Angus Steakhouse
Buffets Holdings (Old Country Buffet)
Fortunoff
Tweeter
Domain Home Furniture
Wickes Furniture Co.
Sharper Image
Lillian Vernon
Vicorp Restaurants, Inc. (Bakers Square, Village Inn)
Linens 'n Things
Banner Bedding
Goody's
Whitehall Jewelers
Shoe Pavilion
Steve & Barry's
Mervyn's
Metromedia Restaurant Group (Benigan's and Steak and Ale)
Boscov's
Mrs. Fields Famous Brands
Shells Seafood Restaurants
Hilo Hattie
Metromedia Restaurant Group (Ponderosa Steakhouse, Bonanza Steakhouse)
Hawaiian Telcom
ArtSelect.com
iFLOOR.com
Circuit City
Christian Bernard
Kira Plastinina
Gottschalks
El Paso Bar-B-Que
Shabby Chic
Chernin's Shoe Outlet
Bruno's
Appco Convenience Stores
S&K Menswear
Ritz Camera Centers, Inc.
Better Bedding Shops
Joe's Sports and Outdoor
Robbins Bros.
1800mattress.com
Drug Fair
Active Ride Shop
BI-LO
Mark Shale
Sportsman's Warehouse
Tumbleweed, Inc.
Home Decor Products, Inc.
Storables
Big 10 Tire Stores, Inc.
Ultra Stores
Fatburger
Z Gallerie
Fred Leighton Holdings
Chrysler
Filene's Basement
Stock Building Supply
Furniture-In-Parts Corp (Door Store)
Anchor Blue
Oilily USA
EJ's Shoes Inc
Eddie Bauer
Genmar

Cause they are!!!
There seem to be quite a few people glad to hear the news. For the record, I'm not one of them. I hate to see anyone fail.
Eddie

Obviously there is not since 3 of your 4 total posts are discussing it.

Hi Reggie? :)

Somebody go belly up?

It's a sick feeling to see a boat company go thru this. It's more sickening to see fellow boat enthusiasts throw stones while its happening. Like FPB or not, I don't see the good in kicking a company while it's down. Seems petty.:(

Most likely, the people that are "giddy" to see a business fail, have never owned a small business. There has been a lot of criticism about how Mr. Fountain ran his business, spent money etc, but I doubt he foresaw the problem with our economy that we presently face. I hate to see any business fail, as everyone loses.

I agree.

Mr. Reggie sets himself up for the kicking, he has no-one to blame but himself.
I'd hate to see the line go away but could care less about a man who's ego alone would try to stiff a charity poker run and use it as a marketing tool. Good riddance Reggie!

ZP"d, you need to learn the facts before posting. RPA was paid per Mark the president.

everyone loses???

do you hang out with NYC's mayor Bloomberg? reggie is a small business owner?? of course there are people laughing about this and "giddy". why ??

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? he's been 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. a lesson he learned from wall str and seemed to be a quick student of.

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?

please don't compare reggie to actual small businesses that have been shut down with out declaring bankruptcy by the current economy and because of no fault of there own.

No matter what one may think of Reggie or of Fountains, it is a sad event for the boating industry, no one is immune and the economy seemed to turn on a dime. I live in Metro Detroit and things went south here in a hurry, no one had a chance to sell their home, RV, boat or really change their fixed monthly expenses. For years we thought our lakefront home was our biggest asset, now it is our biggest liability. No matter how much I dislike someone or a company I could never take glee if they went under, a good many of us are just several paychecks away from that possibility ourselves.
I wish Fountain and Reggie good luck in their efforts to rebound.

Ms PatriYacht

Not to nit-pick but ZP'd said "tried" - which certainly seems the case. No reason to rehash though, there was an entire thread dedicated to it which ultimately was the reason he paid.

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.

Now THAT would be News worth discussing!!!:cool::cool::cool:

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?

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.

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.

my apologies for not having over 7,000 post logged.....just tryin to get involved......by the way it did get some good response...

You thought he was still moving boats you need to wake up friend and take a look outside your window. Is your local car lot moving cars.

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.

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.