Fountain Aquired Baja
#143
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#144
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I hope when the dust settles they are still making Baja in some shape or form. They are good boats at a lower price point that many can afford. These boat manufacter's really need to look at pricing, some are pricing thereselves right out of the market.
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#146
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A very sad turn of events for my neighbors out in Bucyrus. Even sadder for the boating industry. My guess is Baja's boat show season didn't give hem what they needed to keep going. It'll be interesting to see the details buried in Fountain's SEC filings. Just a guess but I figure Reggie picked up the brand for ptetty much nothing- just so Brunswick can keep delivering high-margin power packages.
For better or for worse, Ohio does have fairly restrictive laws on the closings of significant employers. These individuals receive extended benefits, education and/or retraining and some other things. It's not like Baja can kick them to the curb, no matter how much they might like to. While that won't help some who choose not to take full advantage of it, others can benefit from it. I have two friends who took advantage of this- one went from being a secretary into a fully paid RN program- and more than doubled her salary. The other went from running a machine to being a dental hygenist- and making $65K a year.
Now if Ohio could just do a better job of keeping these employers here...
For better or for worse, Ohio does have fairly restrictive laws on the closings of significant employers. These individuals receive extended benefits, education and/or retraining and some other things. It's not like Baja can kick them to the curb, no matter how much they might like to. While that won't help some who choose not to take full advantage of it, others can benefit from it. I have two friends who took advantage of this- one went from being a secretary into a fully paid RN program- and more than doubled her salary. The other went from running a machine to being a dental hygenist- and making $65K a year.
Now if Ohio could just do a better job of keeping these employers here...
#147
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I have a half-baked theory... Fountain is the problem.
Imagine the boating industry without Fountain. Right now Reggie is building a nice upper midrange performance boat. He sucks up alot of unit sales. Fountain selling a boat means someone else doesn't. Yet, Reggie makes no money on his sales. He spends heavily on marketing- either directly through ads or indirectly through his racing efforts. Because of his size and linkage to Brunswick, he can do things others can't- especially in the areas of financing. He certainly enjoys production cost advantages over his smaller competitors but he seems unable to translate any of this to profitability.
If Fountain were to magically disappear today, what would that do to to the industry? Would those units now divided up among the competition make each of those smaller manufacturers stronger & more profitable? Would those dollars not leaving the industry for marketing and promotional expenses translate into reinvestment by the builders and a better product for all of us? Would Powerboat Magazine survive? Or, would someone else just step into Reggie's place?
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We are losing ALL the bricks and mortar manufacturing jobs in this country. That is what made this country great and really the only thing that can keep it strong.
While these service jobs may pay more over time no one will be able to afford the services without the manufacturing jobs.