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Fountain Abandoned, Financial Mismanagement

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Old 10-15-2011, 09:38 AM
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Originally Posted by KEVLARKAT32 View Post
It was 2 k for 55 gal a few months ago
Demand is low but the overhead of companies like Composite One stay the same. Having 90,000 sqft warehouse full of stock with a limited shelf life is a precarious position to be in... especially when your market is primarily attached to the recreational industry.
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Old 10-15-2011, 10:25 AM
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Dude when did the House change hands? Clue Midterms O6 now put the blame were it belongs.
Exactly what blame are you referring to when you say it resulted from the outcome of the 2006 midterm elections?

Rising commodity prices, economic meltdown of 2008?
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Old 10-15-2011, 10:41 AM
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Ask CATMANDO whose fault it is 1!

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Old 10-15-2011, 10:45 AM
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I dont know if any boats made it to the public but I do know of one major dealer who got stuck. Liberty made them the follow offer.
take three donzi's on floorplan, Liberty backs and pays the floorplan interest. if the boats are not sold in a year then Liberty takes them back and releases the floorplan.
well they paid the interest payments for a couple of months and just stopped with no notice. floorplan company comes to the dealer and says you are several months behind on payments. Liberty sits on their hands and stares into space.
given the current state of things I doubt the lawsuit will find much to recover.
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Old 10-15-2011, 10:48 AM
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Lots of talk about what's going to happen to Fountain. At least that brand will potentially have Reggie in it's corner. Me being a Donzi guy, really wonders what's going to happen to that company? There's a lot of history there for sure. It's the only company that really had Don's name on it (I'm purposely forgetting that horrible 39' Aronow cat )
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Old 10-15-2011, 10:58 AM
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Sorry to have missed you on my tour Jerry. I made several attempts over the two times I was in the area but could not get in touch with you. I even asked Reggie if it was worth even a drive by but he seem to make me think all the magic stuff was on the inside and there would be much to photograph on the outside.

I hope you are doing well...
Doing well, I did get your message when you were in town, Im very seldom at the race shop anymore not much going on there these days. Currently Jeff McCann and I are in the early stages of a new place here in Morehead city.Maybe we will run into each other in Key west.
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Old 10-15-2011, 11:11 AM
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It will take some time to sort out all the lawsuits, etc. but my understanding is that AMH still owns the Crystal River plant and the Sarasota plant so in theory Pro line and Donzi could be moved back to where they were and all the companies sold individually. that may make it possible for all to survive. unfortunatly none of the three are worth anything right at this moment. I realize some of you are loyal to one or the other and will defend the worth of each but a boat company in this market that has zero sales and rapidly aging molds and equipment is only worth the value of the property, and I think we all know what property values are now. I hope that it all gets sorted out and the companies find seperate buyers that can further the visions of what they should be but for the next year or so I think the lawyers are the only ones making a profit.
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Old 10-15-2011, 11:12 AM
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I don't,and would like to know how many are in dealer hands.They are not worth a lot right now.
48 EC w/ trip 700s ordered built and delivered in the last 8 months to Lake Travis, Texas
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Old 10-16-2011, 01:14 PM
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It will take some time to sort out all the lawsuits, etc. but my understanding is that AMH still owns the Crystal River plant and the Sarasota plant so in theory Pro line and Donzi could be moved back to where they were and all the companies sold individually. that may make it possible for all to survive. unfortunatly none of the three are worth anything right at this moment. I realize some of you are loyal to one or the other and will defend the worth of each but a boat company in this market that has zero sales and rapidly aging molds and equipment is only worth the value of the property, and I think we all know what property values are now. I hope that it all gets sorted out and the companies find seperate buyers that can further the visions of what they should be but for the next year or so I think the lawyers are the only ones making a profit.
I know some of the admin staff has remained at the Ctrystal River plant until recently. In fact, I spoke with someone there regarding sponsorship information. When I drove past the plant last week it was completely shut down!!!!!

Hopefully these well known brands will be able to survive in the end. Like them or not they have been around for a long time.
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Old 10-16-2011, 02:20 PM
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I know some of the admin staff has remained at the Ctrystal River plant until recently. In fact, I spoke with someone there regarding sponsorship information. When I drove past the plant last week it was completely shut down!!!!!

Hopefully these well known brands will be able to survive in the end. Like them or not they have been around for a long time.
I am in Crystal River right now, where is the plant?
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