Boat builders that made it through the recession

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Originally Posted by GRADS

Back on topic. What builders made it?

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Advantage

Conquest

Schiada


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Originally Posted by gn7

How many were for sale or still are, and how many went looking for financial help and sold off part to remain open?

WAAAAAY more survived this recession, specially by percentage of builders that remained compared to folded, than in the mid and late 70s gas crunch. The was pure death to the boat builders.
Boat builders were not hurt by an economic down turn. They rode a credit wave that allowed people to use their homes like ATM machines, and credit that most people should never have been afforded. The BOOM years BUILT boat companies that other wise would have never been there to start with.
The joy ride came to an end and things went back to somewhat normalcy. Every Tom, Dick and Harry with a is NOT NORMAL!!
If they all had to close their doors, they ALL made a shit load of money while it lasted!

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The boom years built many, many, disposable income businesses that may have not otherwise started up, I somewhat agree with you there. But I'm not sure why you are singling out boat builders. If you sold disposable income items during that time, would you have told your customers "I'm sorry, I can't sell you a boat, or trailer, or motorhome, or Mercedes, or yacht, or airplane, or 2nd, 3rd, 4th home, because I'm certain this wave will crash and I don't want to be a part of it"? I don't think so. The truth is, no one questioned where the money came from, just like today, it still isn't questioned. Its either there or it isn't. There is greed in every segment of our economy, I don't see any point in singling out boat builders when the greed starts at the very top and trickles down to those who sell bottled water.

Taking the frame of mind that anyone in the disposable income market segment should have said "Nope, I refuse to grow in the booming economy" is unrealistic. Now the smart ones grew smartly, the others just took all that extra cash and got deeper in debt. Again, no difference in todays economy except there are just fewer of those getting rich.

I'm not even going to get in to the housing ATM fiasco. Very few people at the time believed the market would crash. The real problem is we've been trained to think our homes are simply an investment, when they are in fact, our homes. Your home is where you raise your family, not what you cash in on every time it gains a few bucks in value. Nuff said there cause its starting to smell political :D

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Originally Posted by Hotboat

I'm not even going to get in to the housing ATM fiasco. Very few people at the time believed the market would crash. The real problem is we've been trained to think our homes are simply an investment, when they are in fact, our homes. Your home is where you raise your family, not what you cash in on every time it gains a few bucks in value. Nuff said there cause its starting to smell political :D

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This is the part that I completely agree with......we sometimes forget that all that $$$ came from somewhere....and that somewhere was not a bunch of hicks that didn't know better. It was from a very savvy investment community that like the rest of the folks thought that it was a good bet to loan that $$ because the returns were very good. Many of those loans were at 6-7% interest so they too were taken in with the opportunity and ignored the risk....because candidly up until that time said risk was very, very, very low......good synopsis HotBoat :thumb:

Yall forgot to list one of the badest MOFOs on the water... DCUCCI... :action-smiley-069:

And yes, they did survive...

I'm not going to TOUCH the SUBPRIME B, C, D, E, F, G, H, I, J, K, L, M, N, O, P, G, R, S, T and so on PAPER loan BOONDOGGLE discussion. OR the G.S.E. Freddie/Fannie FHA/VA/RHS GUBMENT backed trash paper that was rubber stamped by xxxxxxxm Jefferson Cxxxxxxx and PUSHED by the D.B.C. and then later they cried "you tood advantage of UNsuspecting buyers...

AND I'm not going to raise the question of WHERE all the PMI premiums went......

I'm not gonna do it... Nope... :lalala:

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Originally Posted by Hotboat

The boom years built many, many, disposable income businesses that may have not otherwise started up, I somewhat agree with you there. But I'm not sure why you are singling out boat builders. If you sold disposable income items during that time, would you have told your customers "I'm sorry, I can't sell you a boat, or trailer, or motorhome, or Mercedes, or yacht, or airplane, or 2nd, 3rd, 4th home, because I'm certain this wave will crash and I don't want to be a part of it"? I don't think so. The truth is, no one questioned where the money came from, just like today, it still isn't questioned. Its either there or it isn't. There is greed in every segment of our economy, I don't see any point in singling out boat builders when the greed starts at the very top and trickles down to those who sell bottled water.

Taking the frame of mind that anyone in the disposable income market segment should have said "Nope, I refuse to grow in the booming economy" is unrealistic. Now the smart ones grew smartly, the others just took all that extra cash and got deeper in debt. Again, no difference in todays economy except there are just fewer of those getting rich.

I'm not even going to get in to the housing ATM fiasco. Very few people at the time believed the market would crash. The real problem is we've been trained to think our homes are simply an investment, when they are in fact, our homes. Your home is where you raise your family, not what you cash in on every time it gains a few bucks in value. Nuff said there cause its starting to smell political :D

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I think you missed my point here. I am NOT talking about companies the were in the business before, some Looooooong before the credit fiasco. Those are the companies that are still here.
Many of the companies that aren't were as disposable as the income/credit was for the customer. The bubble pulled the rats and snakes out of their holes, and some of them went into the boat business. Its not the first, and its not the only industry/business it happens to.
Most if not all the builders that are still here are here because the have been thru this and WORSE before, and survived, those that didn't, oh well. Certainly no lose to the sport, and probably no big loss to the person the started or BOUGHT the business. They made their money, and its on to something new.

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Originally Posted by Wendi

Who's the bad people that buy boats?

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There are no bad people Wendi, and if there were, they certainly wouldn't own boats. Forget I even mentioned it.

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Originally Posted by 2manymustangs

Yall forgot to list one of the badest MOFOs on the water... DCUCCI... :action-smiley-069:

And yes, they did survive...

I'm not going to TOUCH the SUBPRIME B, C, D, E, F, G, H, I, J, K, L, M, N, O, P, G, R, S, T and so on PAPER loan BOONDOGGLE discussion. OR the G.S.E. Freddie/Fannie FHA/VA/RHS GUBMENT backed trash paper that was rubber stamped by xxxxxxxm Jefferson Cxxxxxxx and PUSHED by the D.B.C. and then later they cried "you tood advantage of UNsuspecting buyers...

AND I'm not going to raise the question of WHERE all the PMI premiums went......

I'm not gonna do it... Nope... :lalala:

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Ah thank you sir from refraining. I know how hard it is because it pisses me off too :D

Boat builders......stay focused.

Yall forgot to list one of the badest MOFOs on the water... DCUCCI...

And yes, they did survive...