Off Site
 

Not there.
I was at the grocery store on Saturday and met a couple of former Powerquest employees.We had a long conversation and they mentioned that an old customer heard about the situation at Powerquest and got wind of an unfinished 32 PQ Cruiser inside the plant out of the mold in pieces.So the customer got a hold of Phil swung a deal hauled it out to an off site location. ( This is what was said). The customer asked a couple of former PQ workers if they would be interested if I purchased the pieces and if you guys would build the rest of the boat. They agreed for the customer. This is what you might have heard some new 2005 32 cruiser was being finished on March 7th but not at Powerquest.

Where's the 38 that they were building ?

That would be the boat - but the email doesn't indicate where or who. - The pics show it with 6.2's.

38
 

Still sitting inside in pieces for over a year.

Yup!
 

The 38 is out of the mold, been for a while. As of the last time I was there, it still sits next to one of the old 38's. Neither have an upper deck laminated to them, and no power. Cabin's are unfinished, little interior.

what a shame. . . always enjoyed talking to Mandi and Denny when you were still there and at boat shows. PQ was a heck of a boat from the small town of Holland. Took the tour there many years ago and they always opened up to the customer.

Good Times will never be forgotten with customers turned into friends.
 

Thank you. Always enjoyed your visits at the PQ factory and spending time with you at the shows. I am still around.

what do you think is next for PQ???

The good days at 112th.
 

Its all up in the air boatnt .All I can see and say that everyone's gone.
The good days have disappeared and all we have are memories when that building on a 112th was rockin with affordable go fast.
I remember when we began custom painted graphics and a new step bottom 28, 34, and 38. Even with eighty employees,it took anywhere from three to six months to get a boat because of the high number of customer sold ordered boats and the PQ dealers not having enough in stock inventory to sell. The dealers were SCREAMING FOR BOATS AT US.
Our dealers were completely sold out of Powerquests during the peak selling season..Those days will be missed.

Well I would still like to remain optimistic, after all nothing stays bad forever just like nothing stays good forever. As long as there is water to boat on and the wacko liberals don't try to ban boating in hopes of saving the planet, there will always be a demand for a quality built affordable performance boat. Who's to say they cant come back in some way when things get better? They still have one thing going for them which is brand recognition and loyal followers, all they need now is time for the current economic climate to change. As long as someone still owns the Powerquest as a business they could bring it back anytime.

There in might lie the problem, even if the economy starts to recover. AFFORDABLE and PERFORMANCE BOATS is pretty much an oxymoron these days.

I personally believe a major price correction will have to occur in the performance boat industry if it is to ever recover to the levels enjoyed from around 96 to 2006. That price correction is starting in the used market, but has not made it to the new boat market. We see tons of complaints about the value of our used boats - thinking things will return to where they were a few years ago. I personally will not hold my breath. I don't think it is going to happen.

Same will be true for the economic recovery, particularly the stock market. People will have to start trusting business leadership again for a full recovery. With all the crap coming to light these days, not sure anyone will be trusting business for awhile. It will take a long time to restore integrity.

Not trying to be doom and gloom. I just think the last 5-6 years of tons of people getting into the performance market may have been the aberation. These times may be more normal going forward than we think.

Based on a few brief conversations I had with the new owners and management I don't think PQ was interested in being affordable. They basically told be they weren't interested in building anything under 30 feet or any single engine boats. I was expecting at least a 25% increase in pricing. They were throwing around all the BIG name performance manufactures as if that is were they wanted to play.

Time will tell, but I agree with your statements.

:bsflag::party-smiley-004:

Come on now.

Maybe the elves are busy building boats inside, much to our dismay...

When they are done with the latest boat order, they can get the combines and bale the hay that is growing on the lawn.

That is, after they repair the mail box from so much mail hanging out of it that the post breaks off.

Maybe that’s not hay and it's some new genetically engineered green environmentally friendly matting fiber that’s going to cut the weight in half? Phil might be thinking green??

That's funny

Powerquest was foreclosed upon today. The real estate entity, ZP-Michigan Properties, LLC and PQ Holdings appear to have been cross collateralized. The amount of the default posted on doors is somewhere in the neighborhood of 2.8M.

no good news....
but thanks for the heads up

Also not a surprise. Boat companies that were healthy a couple years ago are getting closer to this state monthly. So if you haven't produced or sold anything for 3-4 years, this is to be expected in our current economy. Timing really sucked on this deal.

Yep that does sucks!
Rumor has it that Sunsation has also layed off all their workers because of no boat orders and are closed for now.
hopefully it all works out for them!

hopefully the information I got is correct and I'm not starting any false rumors.

The deal may have been untimely, however, in Phil's case the experience required to build a boat and lead a business were mutually exclusive.

I wonder if the bank will liquidate via public auction? I had left several messages to pic up a few things but never would get a return phone call. Really to bad but we all knew it was coming.

Does it say on the notice who the bank or financial institution is?

I'll try to post a picture of the notice tomorrow. The creditor is a bank in Indiana if I recall correctly.

http://img34.imageshack.us/img34/2963/pq1l.jpghttp://img34.imageshack.us/img34/pq1l.jpg/1/w1600.png

http://img8.imageshack.us/img8/9500/pq2m.jpghttp://img8.imageshack.us/img8/pq2m.jpg/1/w1600.png

So, the actual debt numbers are real.. Thats a shame, it's just the tip of the iceburg.

Phil's disaster path looks like a catagory 5 tornado.

RIP Powerquest.

Tom

PS- Jamie, this is my user name :)

Don, Is this you?

Tom

The facility was officially seized today. Several police officials and locksmiths were on the premises.

Looks like the fat lady will finally get to sing. To bad but we all knew it was coming.

Looks like they had a 1st and 2nd mgt. Based on what I can see this is strickley a foreclosure on the real estate not the business or personal property/ assets.

That property was not purchased for 2.8m so it has to be the business too.

Sad Indeed!!!!

anyone know what Kevin H. is doing these days?

Here you go:
http://www.nuvescor.com/OurCompany/T...9/Default.aspx

He looked at buying back PQ a few years ago but Jack Moll wanted way too much for what was left of the company.

It's a shame to see the place run down like it is.
10 years ago we could not build 'em fast enough to keep up with demand.

MK are you Mike ?

No - Marc Keizer

Maybe Kevin would like to give PQ a shot again?? Looks like bringing them back to life is right up his alley.

Mk and I don't think so.

I know 10 years ago PQ was building alot of boats.with that been said,the economy took a turn for the worse,Kevin got out at the perfect time,I dont know that we could blame all this on Jack or Phil,wander how many boats Kevin and the old crew would be building today?I bet less than 10 years ago.