Merc backs Reggie
07-18-2003, 05:03 PM
#11
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Maybe the f-in lawer will chime in but, explain to me what consideration could have been given by Merc to guaranty a note? Being the largest debt holder would not be it and I am pretty sure B of A would know a guaranty is no good w/o consideration.
When a company owes you a ton of money the last thing you want to do is committ to pay off a bunch more of their debt. I will say a guarantor can not be persued until the borrower has been liquidated and a loss incured. Loan Guarantys are fraught with risk on both sides, plus we do not know the extent, is it limited? unlimited? A secured Guaranty? I guess some of the consideration could be that Brunswick got some back money owed to them in exchange for the guaranty.
The statement read "current liabilities" which are normaly paid from "current income" not long term debt, so maybe this was brusnwicks consideration???
When a company owes you a ton of money the last thing you want to do is committ to pay off a bunch more of their debt. I will say a guarantor can not be persued until the borrower has been liquidated and a loss incured. Loan Guarantys are fraught with risk on both sides, plus we do not know the extent, is it limited? unlimited? A secured Guaranty? I guess some of the consideration could be that Brunswick got some back money owed to them in exchange for the guaranty.
The statement read "current liabilities" which are normaly paid from "current income" not long term debt, so maybe this was brusnwicks consideration???
07-18-2003, 08:16 PM
#13
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They seem to be doing very well; I called a couple months ago in referece to 16 Patrol boats and spent a while looking at time frames and they were very busy then.
They are the largest High-Performance builder in the world I would Imagine..
They are the largest High-Performance builder in the world I would Imagine..
07-19-2003, 05:06 AM
#16
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ISO9001 is a standard by which a company operates and it is a very high standard at that. It's also very hard to get. Or something like that.....wording may not be precise but you get the general idea.
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Dying,....Is the day worth living for!!!!!!
Dying,....Is the day worth living for!!!!!!
07-19-2003, 09:23 AM
#17
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Baja and Formula also have ISO9001 status.
Believe me, it's pretty stringent. I have to deal with ISO audits pretty regularly in my engineering department. Sure, we are kept to the aerospace standard, but nonetheless, I'm sure it's similar.
It impliments a stringent series of standards which a company must adhere to and routinely prove through engineering, workmanship, quality assurance and tracking.
Believe me, it's pretty stringent. I have to deal with ISO audits pretty regularly in my engineering department. Sure, we are kept to the aerospace standard, but nonetheless, I'm sure it's similar.
It impliments a stringent series of standards which a company must adhere to and routinely prove through engineering, workmanship, quality assurance and tracking.
