Fountain Abandoned, Financial Mismanagement
10-17-2011, 06:47 PM
#42
Registered
Join Date: Jan 2007
Location: Murrayville Georgia
Posts: 1,818
Likes: 0
Received 892 Likes
on
320 Posts
I have no doubt the Crystal River and Sarasota plants are vacant but if AMH does still own the properties then as I said you could in theory move Pro Line and Donzi back to their plants and possibly find a buyer for each. as it stands I doubt you would find a buyer for all three in one location given the marine market right now. of course it is probably going to be a year or more before it all gets sorted out in the courts as to what is what.
10-17-2011, 07:27 PM
#44
OSO Content Provider
Commercial Member
Frisini Motorsports seems to be finding the buyers for new boats...
I wouldn't put it passed Tony if he wouldn't be trying to get his hands on some of these brands too !!
I wouldn't put it passed Tony if he wouldn't be trying to get his hands on some of these brands too !!
10-17-2011, 07:36 PM
#45
Registered
Join Date: Dec 2000
Location: Bell Canyon, CA
Posts: 12,754
Likes: 0
Received 0 Likes
on
0 Posts
10-17-2011, 07:48 PM
#46
Registered
iTrader: (4)
I agree with Steve to some extent, but Mariah makes sense also.
While Obama may go down in history as the guy who couldn't fix it... let's not forget who broke it.
As far as boats going from 25k to 40 k over night... That's a direct result of CHEAP financing... the same financing that caused boat builders like fountain and others to surge in popularity. When that financing evaporated, so did the market.
So, having said this, who's to blame? We ALL are. The lenders... The boat buying public who disregarded the price of a boat while focusing on the monthly payment.... The regulators who failed to keep this financing gold rush in check...
This phenomenon is not exclusive to boats... It's the same issue that affected the housing market and it's called "artificial equity"... that which makes an asset more valuable because you can barrow cheap funds to buy it.
Just my two cents..... now let's see how long it takes for Dawn to move this thread to the Political section...
T
While Obama may go down in history as the guy who couldn't fix it... let's not forget who broke it.
As far as boats going from 25k to 40 k over night... That's a direct result of CHEAP financing... the same financing that caused boat builders like fountain and others to surge in popularity. When that financing evaporated, so did the market.
So, having said this, who's to blame? We ALL are. The lenders... The boat buying public who disregarded the price of a boat while focusing on the monthly payment.... The regulators who failed to keep this financing gold rush in check...
This phenomenon is not exclusive to boats... It's the same issue that affected the housing market and it's called "artificial equity"... that which makes an asset more valuable because you can barrow cheap funds to buy it.
Just my two cents..... now let's see how long it takes for Dawn to move this thread to the Political section...
T
At today's prices they might be ok. I understand cost to build has risen, EVERYTHING has risen. Metal is off the charts, and composite supplies while up pale in comparison to the metal boom. The cost of a boat has exponentially grown off the charts when everything he risen, but at an explainable rate.
10-17-2011, 08:22 PM
#47
Charter Member
Charter Member
I must say, everything I spoke about with Reggie back in June is now starting to unfold as he predicted... (Sorry, I had to keep what I knew confidential and let the cards play out.)
My prediction is: The end result will be that Reggie will be back in his original facility once the dust settles....
The city I am sure would much rather see Reggie there then the current operators... or should I now say the previous tenants....
Quite ironic that I got the exclusive photo tour just a few months ago of the Fountain Facility.
I guess it can be considered documented history or evidence ?
Fountain Shop Tour Click Here !!!
.
My prediction is: The end result will be that Reggie will be back in his original facility once the dust settles....
The city I am sure would much rather see Reggie there then the current operators... or should I now say the previous tenants....
Quite ironic that I got the exclusive photo tour just a few months ago of the Fountain Facility.
I guess it can be considered documented history or evidence ?
Fountain Shop Tour Click Here !!!
.
__________________
2014 OPA-APBA National Champion Class 7 .Hauling Trash 725.
2014 OPA-APBA National Champion Class 7 .Hauling Trash 725.
10-17-2011, 09:19 PM
#48
Registered
Platinum Member
Join Date: Aug 2004
Location: Toms River, N,J
Posts: 5,878
Likes: 0
Received 0 Likes
on
0 Posts
10-17-2011, 09:42 PM
#49
Registered
Join Date: Jan 2004
Location: San Diego, California
Posts: 2,777
Likes: 0
Received 6 Likes
on
6 Posts
No Fix
There's a great country western song that has a line that says " You Can't Fix Stupid" No company or individual is going to be able to resurrect an operation, overhead and debt service of a perfromance boat building company such as this in our present market! To try and do so is just plain "Stupid"!
Best Regards,
Ray @ Raylar
Best Regards,
Ray @ Raylar
