Like Tree0Likes

Reggie Fountain: Still at Fountain

Reply
Old 12-09-2010, 09:24 PM
  #61
OSO OG
Gold Member
 
DollaBill's Avatar
 
Join Date: Feb 2004
Location: Blue Martini Hall of Fame
My Boats: Making hot chicks hotter since 2010
Posts: 7,031
Default

Quote:
Originally Posted by LapseofReason View Post
But wont that just be a kick in the nuts to the recent Fountain buyers ? If I bought a 2011 42 with 700's all loaded up for whatever they sell for 500k? then the new Reggie wave smasher 42 comes out at 300k less than I spent, now whats mine worth 80-90k a year later.

I know alot people would never buy one again if that happened, you would have to hope for alot of new buyers.
But it's a new day. Trust me... speaking from the standpoint of marine mfg's and dealers we didnt want thyis t happen like you didnt. Here's an example.....

My business did over $20,000,000 in 2006. It did less than $2,000,000 in 2007. We all got CRUSHED. Were the new boat prices obscene? yes. So how bout you get a 50 or 100K credit toward your next boat? actually 200K...
DollaBill is offline  
Reply With Quote
Old 12-09-2010, 10:05 PM
  #62
Registered
 
LapseofReason's Avatar
 
Join Date: Jan 2003
Location: Stafford Va.
My Boats: 98 NORTECH 5000V
Posts: 2,806
Default

But if you have a loan on it for say 400k and a new one is 200k you will never be able to sell. I hope you like it. Seems like it would just be a mini problem just like the housing market now, then more stripped boats will be at the repo yards not worth 1/4 of the loan they skipped out on.
LapseofReason is offline  
Reply With Quote
Old 12-09-2010, 10:06 PM
  #63
Registered
 
later's Avatar
 
Join Date: Oct 2000
Location: Chesterfield Mo/Loto
My Boats: 98 42 fountain twin 500's
Posts: 1,355
Default

Quote:
Originally Posted by DollaBill View Post
Thanks, contrary to belief in the Baja forum... I know a few things about the marine biz. I'll call RMF at home the minute he goes this direction. Everyones main gripe is the price of new boats. So what if a new 42 w/ 700's copuld sell for $199,900? and what if you could get into a 35X for $89,900 with 0% financing for 72 months? See what Im saying?
id venture to say that it would put the performance boat industry into a tail spin.

later
later is offline  
Reply With Quote
Old 12-09-2010, 10:19 PM
  #64
Registered
 
LapseofReason's Avatar
 
Join Date: Jan 2003
Location: Stafford Va.
My Boats: 98 NORTECH 5000V
Posts: 2,806
Default

Other builders might try to sue him, remember a few years ago when Mercury sued Yamaha for dumping( selling motors cheaper than merc felt they could build them). I dont know the outcome of it but I think it was the Verado and I think it worked they seem to have the market back as far as outboards go.
LapseofReason is offline  
Reply With Quote
Old 12-09-2010, 10:45 PM
  #65
Registered
 
Join Date: Jan 2010
Location: Winterville NC
Posts: 150
Default

So let me understand, Hes dumping so can buy it back for less? Isnt Liberty an investment group, and why is the feild behind and the back parking lot filling up with molds from other companies that liberty owns. Is that how dumping works Im not sure.
Driveguy is offline  
Reply With Quote
Old 12-09-2010, 10:55 PM
  #66
Registered
VIP Member
 
Join Date: Oct 2004
Location: Long Island, NY
My Boats: 1998 Scarab
Posts: 870
Default

My opinion of the Fountain situation. Mr. Reggie Fountain built an empire, probably way bigger than he ever imagined. When the economy went in the toilet, he was screwed. He needed to sell a certain # of boats every month just to survive. He wasn't hitting that # ( either was anybody else ), he needed major help to save his business and his life long passion. Bill Gates stepped up to the plate to help out. He invested money and did all the legal BS that goes with "Buying a company". I haven't seen Bill Gates in any pictures testing boats or cruising in a poker run. That's odd, since the guy "owns" the company. Reggie is still very active in all areas. What does that tell you ? It tells me that Gates is an extremely smart businessman, and he knows his investment will ten fold when the economy gets back to where it should, with Reggie at the helm. Gates is not a billionaire because he's stupid. I'd bet he's right with his investment. Mr. Fountain, I anticipate I will see you and Fountain Powerboats for a very long time. Good luck
frankenstein is offline  
Reply With Quote
Old 12-09-2010, 11:14 PM
  #67
Registered
Trade Score: (1)
 
Join Date: Jul 2003
Location: Michigan
My Boats: 29 PHANTOM 36 SKATER 38 POWERQUEST
Posts: 3,193
Default

Good read surrounding the '09 Liberty buy-out

http://www.wdnweb.com/articles/2009/...4597689358.txt
fantastixvoyage is offline  
Reply With Quote
Old 12-09-2010, 11:27 PM
  #68
Registered
VIP Member
 
Join Date: Oct 2004
Location: Long Island, NY
My Boats: 1998 Scarab
Posts: 870
Default

Quote:
Originally Posted by fantastixvoyage View Post
Good read surrounding the '09 Liberty buy-out

http://www.wdnweb.com/articles/2009/...4597689358.txt
I don't have the attention span to read ( we had some people over tonight, much alcohol consumed ). Was my opinion close to correct ?
frankenstein is offline  
Reply With Quote
Old 12-09-2010, 11:30 PM
  #69
Registered
Trade Score: (1)
 
Join Date: Jul 2003
Location: Michigan
My Boats: 29 PHANTOM 36 SKATER 38 POWERQUEST
Posts: 3,193
Default

I just posted that as a general read not really as a response to your post.

But the cliffnotes version? Good ole Reggie should have put a little more of that $991million he's made over 30 years away for a rainy day.
fantastixvoyage is offline  
Reply With Quote
Old 12-09-2010, 11:44 PM
  #70
Platinum Member
Platinum Member
 
Bullhead's Avatar
 
Join Date: May 2004
Location: Smithfield, VA
My Boats: Outerlimits Sl44
Posts: 1,227
Default

Quote:
Originally Posted by DollaBill View Post
I may be wrong but I dont see any passion for boat building with the new guys..

Many of us, as business owners etc, have made mistakes. My saying is make many small mistakes but get a few big things right in life. Thats the formula. If you ever spent any real time with Reggie you would be knocked over at his passion for fast boats. I've spent countless hours at the factory, at dinner, with customers, at the factory and hanging around the office with this man and there are only 2 things Mr. Fountain thinks about 23 hrs a day....... FAST BOATS and beautiful women. That simple.

That passion can't be re-created because the numbers look good. Say what you want but I'll always back him. And, for the record, the new guys made a FATAL mistake by not having him sign a non-compete before the deal. It's over for them if they dont work with Mr. Fountain.
"so many women......so little time" I don't know who said it first but I bet no ones said it more than Reggie

Last edited by Bullhead; 12-09-2010 at 11:47 PM.
Bullhead is offline  
Reply With Quote
Reply



Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are On



All times are GMT -5. The time now is 03:01 AM.


Copyright 2011 OffShoreOnly. All rights reserved.