Fountain Powerboats Seeks Equity Partner

[Chris]

WASHINGTON, N.C. — Fountain Powerboat Industries Inc. has retained investment banker Jacobs Capital to seek a partner that can provide additional capital to support operations during the economic downturn and help finance future growth, according to a release today from Fountain.

Link to full article below...

http://www.boating-industry.com/output.cfm?id=2184229

-Chris

 

[RNC]

Maybe Obama would like to take part in the boat industry. Any man is a fool to put a dime in any recreational biz right now. You cant even save a car lot much less a boat lot.

Just my 02

 

[Chris]

I wonder how this will effect Baja?

Lots of rumours floating around a while back about something in the works, but nothing recently.

You gotta know when Genmar files for chapter 11 and Brunswick can't cut fast enough that things are pretty bad.

-Chris

 

[RNC]

I don't know about where you are at but around here things are not getting any better only worse. They keep driving taxes up on everything and now gas is creeping up. They are starting to kill the guy thats still working to make up for the ones that are not.

Are local power company is trying to get a 12% increase now. My last power bill at the house was 216.00 and the A/C is not on full time yet.

They are draining the average joe that had his head above water that kept paying his bills. Now joe is starting to sink or file bankruptcy and just wait till all these joe's hit bottom and stick them in the pile of jobless people.

This economy has not hit the bottom yet the big one is yet to come

 

[Chris]

It's the same deal here J.

The economy is in the dumpster.

Hopefully things will start picking up in the back half of the year and things will improve from there.

But the price of gas problem is and has become a real issue for the boating industry. And my fear is that as soon as the economy starts picking up, the demand for gas will go up as will the price.

Perhaps the reality is that people will still be going boating, but they won't be running around in big gas guzzler offshore Fountains and instead they'll revert back to smaller more fuel efficient runabouts like it used to be.

I guess in the end, there will always be a few big shooters that will always have enough money to run around in Cigarrettes and Fountains, but perhaps the price of gas will seperate the true big boyz from the pretenders.


-Chris