Genmar will be Sold!!!!!!!!

[Jig Master]

Completely different companies now. They are NOT under the same parent company. Bombardier and BRP are 100% seperate right now.

[delcecchi]

To amplify, BRP was purchased from Bombardier by a group led by the founding family of Bombardier. It is a separate company. This could have been verified instead of presuming with a couple minutes on the internet.

[gregg52]

well i guess as long as you are around delcecchi i didnt need to spend those couple minutes did i

[bassNspear]

sounds like Erwin is going to try and buy them all back!

[delcecchi]

What couple minutes? the ones you used to post the incorrect information that they had the same parent company?

[gregg52]

i said i didnt know

at any rate i own brp products and am very happy with them

150-etc....600mxz bout very good moters and lots of power from both

troulbe free and fun !!!!!!!!!!!!

[Northlander]

Play nice guys. Its not worth argueing over is it?

[delcecchi]

I was just speaking truth to power. :-)

[Chode2235]

Jacobs is going to get a sweet deal by buying his company back... Wow, I cant believe this is somehow legal.

[JohnMickish]

He owned 40% of Genmar stock so he was not the owner.

[delcecchi]

He has to bid against at least one other party, as mentioned in the paper yesterday, all under the supervision of the bankruptcy court. And his stock became pretty much worthless with the bankruptcy filing. So not too sweet.

[bassNspear]

he stepped down as CEO to buy it back! I hope someone else gets it!

[Down Deep]

Unfortunaltely this will more than likely drive their already out of wack boat prices up even more.

''

I'm getting into this thread late in the game, but I think that boat buyers are out of whack and the boat builders are just giving them what they want.

[bassNspear]

what do you mean?

[gregg52]

i think some of technolgy going into these motors

is what brings that price up

and labor cost to i spose depending on the boat and how they are built

i was at yar craft went threw there plant and its time consuming one boat at a time but very well built

one thing about a boat it holds it value for awhile and taken care of will last a long time not like a vehicle drive them off the lot you are out 10k plus not many will last 20 yrs

this will be the 3rd summer coming up on my new boat and i can get what i paid for it i think or real close to it

i did get a pretty good deal when i bought but i shopped all winter to

another 2 yrs its paid for and i love being in it even if i'm not catching fish

so all in all not a bad investment imo

[Down Deep]

what do you mean?

I mean that many boat buyers are over influenced by the hype of all the marketing and end up driving a demand for boats with all the whistles and bells when boats that cost a whole lot less would suit their needs just fine. Everything goes along just fine until the eight-hundred of pound guerrilla comes along and puts the ca-bash on the party. I'll guarantee that the reason GenMar is on the ropes is because the buyers ran out of $$$$, (credit dollars) not the lack of customer desire or want A little more basic sense and restraint on both ends would avoid these bankruptcies. The same principle is true for housing, auto, electronics, etc. When the management of a company or a buyer live in a make believe world what seems real isn't and they both pay for it.

As I said in my original post this is "What I Think" and not a judgement of anyone one else.

[gregg52]

I kinda agree with you more so with the autos though

i mean open the hood of a new vehicle the motor itself is hardly visialbe I relize a lot of it is pollution stuff but still all the stuff in cars today

most of it you need a yr or 2 of college to figure out how to use it and i'm bettin 50%

of the stuff never gets used

as i said above at least a boat holds its value longer

[Central Bassman]

What is up with this?? Any new news??

[ANYFISH2]

As stated before I work at Genmar Minnesota (Larson/Glastron/Seaswirl/Fincraft) in Little falls. We get updated with the status of our company maybe once a month (same time as the dealers). We know very little of what is going to happen. To the comment of "I hope someone else gets it", as worker in LF I respectfully disagree. The other group looking to buy some of genmar does not want the Little Falls facility. Meaning that the 500+ laidoff employees as well as the 150 or so remaining employees could be out of work for good! This group is not buying all of genmars current assets only certain brands and facilities, this means even more wide spread unemployment. Where in If Irwin can win the auction more jobs will be saved as well as companies. If I can find the memo at work next week I will give you all the Info we have as far as the status. Just a reminder this is more than just about a boat, this resolution involves many, many peoples jobs and livelihoods!

[SpitnArgueDuckClub*]

Love that they censored f-a-t-h-e-r-i-n-l-a-w !

Yeah that is weird, I was wondering what in the heck you were calling him.

[bassNspear]

how long are they goign to push this back?

[ANYFISH2]

BnS, good question, nothing in the situation has happen on the date set. But as of now the Auction is set for January 7th, se we should know some thing then or within a few weeks after.

Is there are reason you hope Irwin Jacobs doesn't get it?

[bassNspear]

personal thing is all!

if you wanta know, shoot me a email!

[ANYFISH2]

BnS, thats good enough for me. I don't need details.

But today we (employees of the Little Falls facility) where given notices that our employment with Genmar Minnesota will be terminated on January 20th. That is date that the sale of Genmar is to close. I sure hope whomever buys it, wants to hire us back on, on January 21st!!

[bassNspear]

so does that mean the plant in little falls is closing? Must be looking for a new buyer then huh!