Re: is it true national marine !
 

Ok, here are the facts.

Otis,
your motorcycle is in Sunny Isles in North Miami in a garage per your request.
The doors at National Marine are not being protected by Sherrifs, however, there have been auditors there doing some auditing.

This reminds me of when I went to North Carolina last week and several people came up to me and said they say my new Cigarrette 39' on the internet. I explained I did not know where they got their bad information but it was clearly obvious that bad information and gossip spreads quickly around here. OSO took pictures of the 39 but that boat does not belong to OSO and we never publically made that announcement.

I realize that there might be some things going on at National, but I don't believe that all this trash talk is necessary until we know the real facts. If someone who lives in Ohio can take a picture of the Sherrifs blocking the doors, then we will re-open this thread. Until then, lets wait until Monday morning to see the real truth.

In a previous thread it was confirmed that Nationals contract allows for up to six months to pay off previous loans. It was also confirmed that there is at least one person that has a deposit that they will be refunded when funds are available. So, please do not think we are protecting because there have been some admissions.

Please remember that the statements you make on this forum you can be held personally and legally accountable for.

OSO

PS- I am not interested in hearing the "National is an advertiser", I have deleted threads and closed threads for non-advertisers due to "questionable" information.

Re: is it true national marine !
 

Von Bongo,

I didn't buy anything from National. I am offering to help my friend Otis311.

Re: is it true national marine !
 

Vonbogo, your pretty much dead on. One thing that people are missing is that (Rumor)National had someone at the bank working with them. This all started going bad for them when 2nd National got bought out by Sky bank. Sky did an audit on what they bought and turned up all this mess. Some one on the "inside" at 2nd National has got some explaining to do at this point

Re: is it true national marine !
 

Otis,

I PM'd you and called you per your other post and it does not seem that you are interested in hearing from anyone.

Rumor has it that the Fed's shut down Nat'l Marine
 

Was informed yesterday that the Feds shut down Nat'l Marine...any body have the correct info ?

Re: Rumor has it that the Fed's shut down Nat'l Marine
 

Re: Rumor has it that the Fed's shut down Nat'l Marine
 

Talked to my friend yesterday, and he was over at the store in ohio, knows the owners very well, nothing wrong as far as he knows

Re: is it true national marine !
 

that is exactely correct!!

Re: Rumor has it that the Fed's shut down Nat'l Marine
 

Why Don't You State Facts,not Rumors!!!!!!!!!!!!!!!

Re: is it true national marine !
 

Has Anyone Confirmed That National Is Closed

Re: Rumor has it that the Fed's shut down Nat'l Marine
 

Outer What Do You Know

Re: Rumor has it that the Fed's shut down Nat'l Marine
 

Applesauce - did you forget to take your Rittlin today?

Re: is it true national marine !
 

The bottom line is that I would not be too worried about National's legal recourse against a forum member for questioning the alleged practices. If Otis is able to help one member avoid heartache, or put one buyer on notice that he may need to ensure that his paperwork is OK then this thread has worked. If you want to talk about legal problems, lets talk about people that may have knowledge that the business is tanking and still claim everything is OK resulting in more deals being done...... Now that would be actionable. How do I know this?? I represent a salesman from a dealership in Sanford Florida called AquaMarine that was accused of not paying trades, selling boats without titles, etc. My client wrote deals during this time thinking that everything was OK because that was what he was told..... He has been named in every lawsuit filed by the buyers/sellers/banks and has been questioned numerous times by the State Attorney's office. Better be careful how far you stick your neck out.... you may find a summons hanging from it!!!

Re: Rumor has it that the Fed's shut down Nat'l Marine
 

I just bought an OuterLimits 42 for $1500!!!

Re: is it true national marine !
 

refunding a deposit "when funds are available" :rolleyes: That in itself speaks volumes

Re: is it true national marine !
 

FACTS:
http://www.tribune-chronicle.com/bus...z01Boats18.asp

Doesn't sound good

Re: Rumor has it that the Fed's shut down Nat'l Marine
 

:D :) :D

Re: Rumor has it that the Fed's shut down Nat'l Marine
 

here are the facts: http://www.tribune-chronicle.com/bus...z01Boats18.asp

Re: is it true national marine !
 

That must be a rumor too!!! :(

JM94

Re: is it true national marine !
 

Police Chief David Ovesny said Tuesday officers are being paid to work an off-duty detail at the entrance of the dealership to monitor the company's inventory and movements of the boats for the bank.

Doesn't sound like rumor. Time to unlock the truth.

Re: Rumor has it that the Fed's shut down Nat'l Marine
 

that's fact's!!!!!!!!
dave having dinner with kurt tonight.

Re: is it true national marine !
 

in the other thred,there's a link to the article,and some facts.

Re: Rumor has it that the Fed's shut down Nat'l Marine
 

Is this a current article? Date says Tuesday, July30, 2002.

Re: Rumor has it that the Fed's shut down Nat'l Marine
 

I see that at the top of the page, but further down it says...........

"The Home Savings judgment stemmed from a $5 million promissory note the parties entered into on Oct. 24, 2003."

So it has to be from after Oct. 24, 2003!!!

Re: Rumor has it that the Fed's shut down Nat'l Marine
 

the only way I would do that is if a wood chipper was within 100ft of the dinner table

Re: Rumor has it that the Fed's shut down Nat'l Marine
 

I'd say it is current as the link to the article is under the "business news" section of today's edition of the paper.

Re: is it true national marine !
 

Whats in their inventory...How many OL's, Fountains ect.....Could be a glut of VERY high priced fiberglass on the market very soon at repo #'s. Wonder if those stratospheric prices will hold up on the secondary market?...time will tell.

OSO'ers that have been caught up in these scam artist's web..I feel for you....sincerely.

Maximus

Re: is it true national marine !
 

Are they scam artists or just people who may have over-projected and had bad timing? It hurts when someone gets stung in one of these "businesses gone bad", but it doesn't mean that the owners did it on purpose.
Just a thought! :eek:

Re: Rumor has it that the Fed's shut down Nat'l Marine
 

here...



Wednesday, August 18, 2004

Bank wins judgment against boat dealerBy LARRY RINGLER
Tribune Chronicle

VIENNA - A nearly $5 million court judgment against National Marine Inc. has prompted a well-known powerboat maker to think about future dealings with the local business, the boatmaker's president said Tuesday.

Re: Rumor has it that the Fed's shut down Nat'l Marine
 

I Talked To The Man That Did My Boat Loan With Home Saving Today, This Was The Company That Deals With National, He Said That This Issue Was Going To Get Real Ugly. I Fell Luck That National Paid My Loan Off Last Month. I Have The Paid Note In Hand. But Its Going To Bad For The Other That Are Involve With National Now. I Hope This Issue Will Be Worked Out. Sorry........................

Re: Rumor has it that the Fed's shut down Nat'l Marine
 

http://www.tribune-chronicle.com/bus...z01Boats18.asp



Bank wins judgment against boat dealerBy LARRY RINGLER

Tribune Chronicle


VIENNA - A nearly $5 million court judgment against National Marine Inc. has prompted a well-known powerboat maker to think about future dealings with the local business, the boatmaker's president said Tuesday.

''We haven't said flatly, 'No, we're not going to take any more orders,' but ... we've been looking very closely at their situation. Now, we're going to look even closer,'' said Reggie Fountain, president of Fountain Powerboat Industries Inc. in Washington, N.C., in the eastern part of the state.
Fountain said National Marine has always paid for boats it ordered, but he said he asked his manufacturing representative to visit the dealership, adding, ''He'd better get there in the next 24 hours.''

The company's boats cost as much as $800,000, with most in the $150,000 to $250,000 range, Fountain said.

National Marine is the company's second largest distributor, he added.

The Home Savings and Loan Co. of Youngstown on Friday won a judgment from Trumbull County Common Pleas Judge Andrew Logan against the dealership, President Bill J. Hionas, James Hionas and Extreme Auto & Marine Inc. for $4.9 million in principal, $36,446 in accrued interest and $1,111 in late charges, plus future interest at 5 percent above the prime rate.

The Home Savings judgment stemmed from a $5 million promissory note the parties entered into on Oct. 24, 2003.

The bank said the defendants breached the credit agreement on July 24 by failing to make the required payment; by selling six boats out of a trust for $1.6 million and by failing to produce financial statements as required by the agreement.

Vienna police officers began monitoring the entrance of the dealership at 1546 Ridge Road at midnight Friday and were still at the entrance Tuesday.

Police Chief David Ovesny said Tuesday officers are being paid to work an off-duty detail at the entrance of the dealership to monitor the company's inventory and movements of the boats for the bank.

''My only understanding is this is a property dispute between a bank and a business, and I hope it can be settled amicably,'' Ovesny said.

A township police officer, who declined to be identified, said Tuesday afternoon no reporters were allowed to go up the long drive leading to the dealership.

A woman who answered the phone at National Marine Tuesday said neither Bill Hionas nor James Hionas were available, and that the company had no comment.

Leo J. Puhalla, a lawyer for Home Savings, couldn't be reached for comment Tuesday.

National Marine occupies a building owned by Davis International Inc. abutting the Youngstown-Warren Regional Airport. No spokesperson for Davis was available for comment Tuesday.

The boat dealership previously was located on Youngstown Road S.E. in Warren before moving to Hangar 2 at the airport.

Steve Bower, interim director for the Youngstown-Warren Regional Airport, said the boat dealership occupied the hangar for 17 months before the monthly arrangement ended in May. He said National Marine paid its bills but said the airport has no contract with the business.

Re: is it true national marine !
 

Knot,

Shell game ...nothing more. Pure scam. "Contract..6 months to payoff trade, selling boats they did not own, holding notes they had no right to hold" . No one PLANS to get caught. This house of cards came down.

Your honor..."I didn't mean it." These guys were no dummies..they were real good.

I feel for the manufacturers that floorplaned the boats OL,Fountain,Cig. They will have to take the inventory back.

I bet you wouldn't be so forgiving if it was your money, time or credit report at stake.

What if you went to buy a car and the guy said sure here you go. give me your money I'll pay it off in the next 6 months...huh...thats what I thought. Didn't know what was going on..please.

M

Re: is it true national marine !
 

TimG OSO member just started in sales there. He left his old job to work for National. Not good.

Re: is it true national marine !
 

I suspect that Skip at Cig may prove to be a pretty savvy businessman... my understanding is that Cig will not let boats leave the factory until paid in full. That may prove to be a very good thing!!! As for pending orders..... lets just say that the market may be getting even more buyer friendly.

Re: is it true national marine !
 

:( :( :(

Re: Rumor has it that the Fed's shut down Nat'l Marine
 

Skip, can I have my dealership back now. Please!! I wanted it ever since I was a kid. BH

Re: is it true national marine !
 

is everything okay regarding your deal w/ NM on your gladiator? hopefully it is. :(

jbk

Re: is it true national marine !
 

Here is fact.....I purchased a boat from them and traded a boat with a zero balance. I received a check from Nat'l last week which i was just notified today by my bank....BOUNCED !!

Re: Rumor has it that the Fed's shut down Nat'l Marine
 

I received a check from Nat'l for excess funds for the 29 scarab i bought from them last month. Just deposited check on thursday 8/12/2004 was notified today that check bounced $2500.00...and spoke with them 5 minutes ago and they cant issue any checks until situation rectified and they still owe me $2500 for sales tax. I was told POINT BLANK....THEY HAVE NO $$$$

Re: Rumor has it that the Fed's shut down Nat'l Marine
 

This Is Fact Not Fiction, Not Here Say....