Purchasing Fountain Powerboats
09-17-2009, 03:50 PM
#51
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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
#52
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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, 04:06 PM
#53
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This should be interesting watching the maneuvering between the Fountain family and Hustler marine. Bet the Phones are buzzin, there sure are alot of nice Fountains out this way.
09-17-2009, 04:56 PM
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09-17-2009, 08:54 PM
#56
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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, 08:57 PM
#57
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Everyone acts like the money Fountain owes the bank is SO much, but in reality for alot of people it isn't a whole lot of money. I wouldn't be surprisedif he buys it back personally.
09-17-2009, 10:23 PM
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True Dat Homie !!
Meth Labs run rampant in those parts.
JUST KIDDING !!
It's actually nice there. I really enjoyed the times I raced at the factory. Easily one of the best run and convenient sites.
09-18-2009, 07:46 AM
#60
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Factory Tour
We went to the Fountain facility yesterday. The plant was amazing and we want to Thank Reggie and all his employees for making us feel right at home. Left with a very positive attitude.
