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LCM going down?

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Old 09-17-2009, 11:38 PM
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Guys, there are a lot of bad things going on with the banks/lines of credit, as we're all well aware of!! My parents own a small fishing/pleasure boat dealership, with about $1.8 million worth of inventory that they just paid cash for (out of their pocket) after both GE and Textron recalled all floor plans and demanded payment by Sept. 15.

My point is, that LCM most likely was faced with the same problem and didn't have the cash on hand, therefore was forced to file Ch.11.

Def. not saying they didn't screw anyone or had the best business practices (bc i have no clue and never dealt w/ them), but by the way it sounds, they were a vital part of the local community and at least provided a few jobs, that are now lost.
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Old 09-18-2009, 01:27 PM
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Dear Boaters,

Like many sectors of the economy, the marine industry is in turmoil right now. In the face of tightening credit and decreased consumer confidence, many boat dealerships were forced to close their doors.

Lake Cumberland Marine is adapting and reorganizing to meet the challenges of the new market. We are committed to offering the same high quality sales and service that made us successful from day one.

Sales

As part of our efforts to adapt to the new realities in the industry, we are drastically reducing prices on all of our inventory. This is the perfect time to get the boat youíve always wanted. Contact Randy Hartmann at [email protected] or Dan Candido at [email protected] for more information, or call (606) 677-0939.

Service

We know that by continuing to offer the highest quality service available, we can maintain our reputation as the best resource a boat owner can have. Let our trained service professionals take care of your investment. Whether itís a routine winterization to keep your boat in great shape during the cold months, or an on-water emergency, our award-winning service technicians will make sure

your boat runs smoothly and your leisure time is hassle-free. Contact Norbert Keppler at: [email protected] or call (606) 677-0939 for details.

Brokerage

Need to sell your boat? Lake Cumberland Marine offers on-or off-site brokerage services. Let us market your boat and help you get the most from your investment. For more information, contact

Randy Hartmann at: [email protected] or Dan Candido at: [email protected] or call (606)677-0939.


The No-Hassle Solution

Lake Cumberland Marine makes it easy to be a boat owner. Need to store your boat for the winter? We offer climate-controlled storage whenever you need it. Contact Amanda Hopson for rates and details: [email protected]

Let us worry about getting your boat to and from the water. We offer pickup and delivery for storage or service. Simply make an appointment and our professional drivers will pick up your boat and have it ready for you when you want some time on the water. Contact Jeff Boyle at: [email protected] or call
(606) 677-0939.


Sincerely,
Lake Cumberland Marine, LLC
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Old 09-18-2009, 02:11 PM
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Yes Its Not Only The Boating Industrie Its Auto Industrie Also. We All Want A Deal When We Purchase Something But When Times Are Tough U Have To Let Egos Go And Move Product Who Cares If You Have A Million Plus Inventory. If You Dont Have Customers You Dont Have Anything.
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Old 09-18-2009, 03:06 PM
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Originally Posted by KYElimEagle View Post
Everyone jumping on the bashing bandwagon should know that LCM employs much more than 10 people and is important to this area. There is a reason that they rose to one of the largest performance boat dealerships in the nation. To become as big as they were, in rural Kentucky, they were not just lucky. To many, including me, they gave very fair deals and handled everything professionally. They successfully sponsored some very successful offshore race teams. I have heard of some not so good dealings of late. There are some very good people who work there that won't have a job if they go down. It will be significant loss to our sport in this area and a significant loss to the manufacturers who moved a lot of product through LCM.
I gotta say, when i flew down to that area to check out my Cig from them, i was a little apprehensive. 1st time buying a boat that big. But i got there, and dealt with Tony, (who i assume has been long gone), great guy, and he tried to do everything to make the deal work and it did. There was a trailer issue, which was kind of messed up, so i ended up having custom made up here in New England, but they worked with me and Randy agreed to my offer (which was alot less than offered) and transport expenses. So i gotta say my experience was very good. Can't say anything bad about them at all. Too bad this had to happen Hate the gas bill though
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Old 09-18-2009, 05:06 PM
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I've dealt with Rod in parts and he is a first class guy. Every dealing I've had with him he has been great. I hope to see them stay. LC has lost to much business as it is.
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Old 09-18-2009, 05:26 PM
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LCM made a good move by going with Dealer.com to handle their website and inventory. Dealer.com is the best in the business. Now if they would like to start selling stuff feel free to post some prices. I am not going to pick up the phone to find out what the are asking for a 42 Fountain. If they would post a price and it is close to my budget I would then call. They could also take a little time to put in some comments on the boats other than engine size. Shame on them for living in the past and hoping to sell boats over the phone.
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Old 09-18-2009, 05:41 PM
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Originally Posted by tomtbone1993 View Post
LCM made a good move by going with Dealer.com to handle their website and inventory. Dealer.com is the best in the business. Now if they would like to start selling stuff feel free to post some prices. I am not going to pick up the phone to find out what the are asking for a 42 Fountain. If they would post a price and it is close to my budget I would then call. They could also take a little time to put in some comments on the boats other than engine size. Shame on them for living in the past and hoping to sell boats over the phone.
Agreed; post prices even though they are typically way high
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Old 09-18-2009, 05:42 PM
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The same nonsense with national marine no prices.I need a range,Im not paying asking price anyway.Some people are financed 95% why waste any time on boats that are not sellable.

My question still remains..... who is financing high performance????
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Old 09-18-2009, 06:25 PM
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Agreed; post prices even though they are typically way high
I am not just speaking from a consumers point of view. We made the switch to Dealer.com in our dealership a year and a half ago. Our pre-owned owned sales will triple this year in a down economy. Even if the prices are high it still gives the consumer a guide. The key to selling in today's times are tons of good pictures, a good description, and price. I am currently in the market for two boats. I have spent numerous time over the last three months checking the web. I will not even waste my time on sites that don't advertise price. I check Shorgen's website weekly. The pictures are very descriptive, and you can tell they are moving through inventory. I picked up the phone and made a call because I liked what I saw and the boat fit my budget. To bad for me someone else saw it first and pulled the trigger.
Another thing they do good at is showing the boat in top detail shape. I was looking at another boat on a another site. 200k for a 08 repo, I bet it had 15 gallons of water in the bilge. Wow that tells me it has been taken care of. Check out Legend Marine's ad's. One picture and the same copy and paste description on every ad. The dealers that adapt to these new times will survive. The dealers that wait for their phones to ring will fail.
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Old 09-18-2009, 06:37 PM
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I walked thru National Liquidators lot today.. alot of these boats are missing power and drives, a shame the condition of some,(most) once nice hardware..more stuff comming in though
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