MTI Sold—To Employees
#1
Correspondent
Correspondent
Thread Starter
MTI Sold—To Employees
A future and a succession plan, https://www.speedonthewater.com/mti-sold-to-employees/
The following 10 users liked this post by Matt Trulio:
bajaholic (09-27-2024), Griff (09-24-2024), larslindroth (09-24-2024), Padraig (09-24-2024), Perfect Storm (09-25-2024), Smarty (09-25-2024), sutphen 30 (09-24-2024), TomZ (09-25-2024), vdrsnk04 (09-25-2024), Wally (09-24-2024)
#2
Gold Member
Gold Member
Scism is a class act for certain !!!! Well done !!!!
The following users liked this post:
Smarty (09-25-2024)
The following users liked this post:
Smarty (09-25-2024)
#5
Registered
Randy continues to amaze me, From his family atmosphere with his customers, attention to detail on his boats, continuing to push the race side of things, to this!
Great job MTI!
Great job MTI!
The following users liked this post:
Smarty (09-25-2024)
#6
Registered
Lol…
you all know this is a way to get $$ out of the company, basically selling it and paying less taxes.
you all know this is a way to get $$ out of the company, basically selling it and paying less taxes.
The following 8 users liked this post by precisiondetails:
boatnt (09-24-2024), Bostonirish (09-24-2024), flat rate (09-24-2024), Markus (09-25-2024), noli (09-26-2024), Plowtownmissile (09-26-2024), PremierPOWER (09-26-2024), TrippM (09-25-2024)
#7
way to go Randy, continuing supporting your company and team.
The following 2 users liked this post by vdrsnk04:
chattviper (09-25-2024), Smarty (09-25-2024)
#8
Charter Member # 55
Charter Member
I think its a good thing for MTI and its employees.
Lots of variables for ESOP's though What Is ESOP (Employee Stock Ownership Plan) – Forbes Advisor INDIA
Lots of variables for ESOP's though What Is ESOP (Employee Stock Ownership Plan) – Forbes Advisor INDIA
The following users liked this post:
vdrsnk04 (09-25-2024)
#9
VIP Member
VIP Member
I think its a good thing for MTI and its employees.
Lots of variables for ESOP's though What Is ESOP (Employee Stock Ownership Plan) – Forbes Advisor INDIA
Lots of variables for ESOP's though What Is ESOP (Employee Stock Ownership Plan) – Forbes Advisor INDIA
I agree. While I'm not a worker co-op simp, I like ESOPs because it puts workers' skin in the game. They don't own it because they work there. They work there because they own it. Some think the former should just be a given, while the latter is the only way that actually works. Investment is the key.
It will be interesting to see how this plays out for MTI workers if/when the markets slump and sales decline. There were a number of ESOP machine shops in the greater Dayton area that went belly up after '08 because the workers all scattered when they were forced to work for free to scrape by. Most of them that survived are now either single ownership again or, at most, multiple owner partnerships, rather than the utopian worker co-ops they are touted as. Most people are not cut out for signing the fronts of paychecks, and they figure that out pretty quick when they don't get to sign one for themselves for a few months.
I truly hope it works out for them at MTI. Hopefully catering to a crowd that is far more recession-proof than the rest of us will help, but I remember '08 putting a pretty serious cramp on the performance boat market; the boat market, in general.
Thanks. Brad.
#10
Registered
Draw your own conclusions about how he thinks about the outlook for the industry from the timing of the sale, and draw your own conclusions about the number and attractiveness of offers from external takers from the fact that he ended up selling to employees.
The following users liked this post:
Matt Trulio (09-25-2024)