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Author Topic: Another casualty of the economy!  (Read 1041 times)

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Dan

Another casualty of the economy!
« on: June 02, 2009, 11:24:52 AM »

Breaking News
Genmar Files Chapter 11
Tuesday, June 02, 2009

Genmar Holdings Inc. (parent company of boat brands Ranger, Stratos, Champion and many others) filed for Chapter 11 bankruptcy protection in Minnesota yesterday.

Genmar, considered the "GM" of the boat world, counts several brands in its portfolio – from the bass brands mentioned above to pleasure boat lines like Larson and Glastron to high-end yachts and specialty boats.

The news of its filing shocked the fishing and boating industry much in the way GM's recent bankruptcy shocked the auto world.

The company is owned by chairman and CEO Irwin Jacobs, who also owns FLW Outdoors. Jacobs has stated many times that the one primary goal of FLW Outdoors is to push the sale of Genmar-brand boats (notably Ranger). What effect the bankruptcy filing might have on the league isn't known at this time.

http://www.bassfan.com/news_article.asp?id=3307
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"Not in the clamor of the crowded streets nor in the shouts and plaudits of the throng, but within oneself lies victory or defeat."

bassinman#1

Re: Another casualty of the economy!
« Reply #1 on: June 02, 2009, 12:24:07 PM »

They effects of 9-11 still lingers on  :(
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dartag

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Re: Another casualty of the economy!
« Reply #2 on: June 02, 2009, 05:11:05 PM »

guess if you can't afford, a 25,000.00 car,   A   50,000.00 boat is out of the question.

maybe when we are all driving sub compact hybrid electric cars,  boat sales will return.  of course you will have to hire someone to tow it.

Cheetams belly boat series may become a reality.
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Ranger482v

Re: Another casualty of the economy!
« Reply #3 on: June 02, 2009, 06:36:55 PM »

This is bad news but I will say this those boat companys not just Genmar but most bass boat makers priced themselves out of the market.I may not be speaking for everyone here but most people can't spend 40,000 plus on a boat.
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Fishmael

Re: Another casualty of the economy!
« Reply #4 on: June 03, 2009, 09:40:44 AM »

But they did a pretty good job of trying to make people believe you can't catch fish unless you are in a 20+ ft fiberglass rig with a 101lb tm and a 200+ engine.  Yeah those boats are really nice and yes I'd like to have one some day.  However, I think I will do just fine in my smaller boat until then.  And hey, I still catch fish!
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SethV

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Re: Another casualty of the economy!
« Reply #5 on: June 03, 2009, 12:47:30 PM »

But they did a pretty good job of trying to make people believe you can't catch fish unless you are in a 20+ ft fiberglass rig with a 101lb tm and a 200+ engine.

Thats why my moto is:  "If you can't catch fish, you gotta at least look good!"   ;D

Wonder if Genmar will do a 363 sale, and split the "good" brands from the "bad" and liquidate the bad ones?  I bet the pleasure boat market is even tougher than the bass market.

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