Purchasing Fountain Powerboats
09-17-2009 | 02:17 PM
#52
Platinum Member
Joined: May 2004
Posts: 1,374
Likes: 93
From: Smithfield, VA
Regaurdless of who buys or owns Fountain the boat business still sucks now. The economy is still going down hill I can not see Hustler turning that around. I hope they have deep pockets to hold out untill the economy pics back up. If this can be done good luck to them. I feel it will take at least 2 years if the economy levels off this year to start seeing more boat sales.
I wonder if Reggie will keep Cat killer
I wonder if Reggie will keep Cat killer
09-17-2009 | 03:50 PM
#55
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Joined: Jun 2009
Posts: 165
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From: Norwalk, Ohio
That would be odd..especially if Reggie owes money. Wonder if he "hid" alot during the good times,..if not where would the funding come from? Especially if he was at the controls when it went down. What bank right now would do that? But then again..nothing suprises me anymore. Wish them luck no matter.
09-17-2009 | 03:57 PM
#56
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Joined: Jun 2006
Posts: 377
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From: Sunland, CA
I don't know Reggie, but from interviews over the decades, he has always claimed to be very wealthy from his real estate holdings and other investments.
While real estate is down relative to the top of the bubble, its way, way up from the 70's when Reggie got going.
The debt is owed by the company (really, the family of companies): Reggie did not declare bankruptcy.
Also, he did get a salary, and most of us are able to save money from our salaries. Nothing "hidden" there.
While Regions Bank might be a bit hesitant to loan Reggie more money for Fountain Powerboats et al, there is that old saying: "Owe someone a little, its your problem. Owe someone a LOT, and its their problem." So Reggie does have some obvious leverage over the bank at this point. The bank doesn't know how to build boats. What can they do with the plant, equipment, top-of-mind awareness of the brand name? But Reggie can easily make a case that HE can monetize those assets better than anyone.
While real estate is down relative to the top of the bubble, its way, way up from the 70's when Reggie got going.
The debt is owed by the company (really, the family of companies): Reggie did not declare bankruptcy.
Also, he did get a salary, and most of us are able to save money from our salaries. Nothing "hidden" there.
While Regions Bank might be a bit hesitant to loan Reggie more money for Fountain Powerboats et al, there is that old saying: "Owe someone a little, its your problem. Owe someone a LOT, and its their problem." So Reggie does have some obvious leverage over the bank at this point. The bank doesn't know how to build boats. What can they do with the plant, equipment, top-of-mind awareness of the brand name? But Reggie can easily make a case that HE can monetize those assets better than anyone.
09-17-2009 | 04:56 PM
#59
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Joined: Jun 2009
Posts: 165
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From: Norwalk, Ohio
09-17-2009 | 08:54 PM
#60
Registered
Joined: Sep 2008
Posts: 1,200
Likes: 1
From: LOTO
I don't know Reggie, but from interviews over the decades, he has always claimed to be very wealthy from his real estate holdings and other investments.
While real estate is down relative to the top of the bubble, its way, way up from the 70's when Reggie got going.
The debt is owed by the company (really, the family of companies): Reggie did not declare bankruptcy.
Also, he did get a salary, and most of us are able to save money from our salaries. Nothing "hidden" there.
While Regions Bank might be a bit hesitant to loan Reggie more money for Fountain Powerboats et al, there is that old saying: "Owe someone a little, its your problem. Owe someone a LOT, and its their problem." So Reggie does have some obvious leverage over the bank at this point. The bank doesn't know how to build boats. What can they do with the plant, equipment, top-of-mind awareness of the brand name? But Reggie can easily make a case that HE can monetize those assets better than anyone.
While real estate is down relative to the top of the bubble, its way, way up from the 70's when Reggie got going.
The debt is owed by the company (really, the family of companies): Reggie did not declare bankruptcy.
Also, he did get a salary, and most of us are able to save money from our salaries. Nothing "hidden" there.
While Regions Bank might be a bit hesitant to loan Reggie more money for Fountain Powerboats et al, there is that old saying: "Owe someone a little, its your problem. Owe someone a LOT, and its their problem." So Reggie does have some obvious leverage over the bank at this point. The bank doesn't know how to build boats. What can they do with the plant, equipment, top-of-mind awareness of the brand name? But Reggie can easily make a case that HE can monetize those assets better than anyone.
