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Fountain Earnings

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Old 10-01-2002, 08:48 AM
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what would you guys rate the financial condition of this company? is it reversable? or are they in a 20 foot hole with a 6 foot ladder? i'm not looking for a "death watch", but i think that all potential fountain buyers might be wise to consider the possiblity of owning an "orphan". does reggie still own over 50% of the company? just wondering if somebody could stage a takeover?
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Old 10-01-2002, 11:47 AM
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Yeah, Its called a buyout...Mercury Marine owned by Brunswick.

Last edited by Back4More; 10-01-2002 at 11:49 AM.
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Old 10-01-2002, 06:38 PM
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why would mercury want fountain? don't beat me here, but i never heard that fountain has been all that profitable?do you guys think it's going to sit well with reggies ego to have to answer to a bunch of investor types all day? you would think mercury would have bought cigarette, after all cig. is THE name i would want. and this economy, how smart is it to buy a financially struggling company, sorry i do not see that many benifits
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Old 10-01-2002, 07:19 PM
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Fountain Powerboats is in major debt with Mercury Marine.
I thought I heard that the lease on Lake-X was done and Mercury wants Fountain because of their location.
As for Cigarette...Skip has his hands full straightning that mess he bought into.
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Old 10-01-2002, 07:52 PM
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Back4more,I believe you are correct on all points. Lake X,unfortunately,will soon be history. The Palmico River might fit in.
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Old 10-01-2002, 08:56 PM
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Did you look to see who was on the Board of Directors @ Fountain? There are some local yokals and then you have:


Anthony J.-------Executive Vice 1999 Our executive officer since
Romersa ------- President, August 1998; previously
(56) ------ Chief Operating served as Director of
----- Officer Planning - Marine Operations
------- and Director for Brunswick Corp., Lake
Forest, IL (1986-1998)

Mark L. ---------- Director 1992 Owner of Spencer
Spencer ------------ Communications (advertising
(46) --------------- and public relations firm),
Montrose, CA; from 1976-1987,
employed by Powerboat
Magazine, serving as
Executive Editor from 1981-
1987; commentator for ESPN
covering the boating industry
since 1985

David L. Woods Director 2001 Co-owner and manager, Woods &
(43) McCauley, LLC, dba Pier 57
Boat Sales and Service,
Counce TN (boat sales and
service)


These guys would have influence over any buyout.

Last edited by TulsaLarry; 10-01-2002 at 09:01 PM.
 
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Old 10-01-2002, 09:12 PM
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Been talking about a buyout forever now. Will happen when the price is right and Reggie wants it to happen. Which may be soon, may be never. Speculation is just that.
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Old 10-02-2002, 01:52 AM
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buyout when reggie wants it to happen? how many years can he lose 7 million? do you think next year is going to be any better with the economy tanking. seems to me ,although i'm not an accountant, that fin. statement doesn't look like they can afford another year like last
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Old 10-02-2002, 08:15 AM
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When the banks turn off the spicket is when the chapter 11 will happen Reggie will only be a spectator at that time because GE capital and the other creditors will be in TOTAL control of Fountains fate.

Last edited by jdnca1; 10-02-2002 at 08:19 AM.
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Old 10-02-2002, 09:26 AM
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jdnca1,

fill me in , chapter 11, is that reorganization or liquidation? how can you sell boats at those prices and not make money , how will powerboat make it without his ad cash every month?
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