A time to reflect
July 31, 2008
Two years ago at this time, we began hearing the rumblings of what industry insiders perceived to be the beginning a prolonged downturn for the marine market. Sales had shut off following the Fourth of July holiday, business leaders were looking for solutions to combat the slowdown, and it seems that... Read more »
Mercury cuts jobs, plans shutdown
July 29, 2008
FOND DU LAC, Wis. – Mercury Marine has cut an additional 60 jobs and plans to temporarily shutdown its Fond du Lac production facilities to balance output, the Fond du Lac Reporter reported in a story on its Web site yesterday. The company eliminated 62 salaried positions in several areas throughout... Read more »
Four Winns temporarily lays off employees
July 29, 2008
CADILLAC, Mich. –Four Winns has laid off an unspecified number of workers and stopped production of its small boat production, according to media sources here. Explaining that retails sales fell off over the last 90 days, Four Winns President Jeff Olson, according to The Cadillac News, suggested that... Read more »
Associations promote marine careers
July 29, 2008
PORT CLINTON, Ohio and BROCKTON, Mass. — Both the Lake Erie Marine Trades Association and the Massachusetts Marine Trades Association continue to pursue programs they’ve established to increase the number of young people entering careers in the recreational marine industry. LEMTA’s golf outing... Read more »
Teleflex revenue up despite marine sales decline
July 29, 2008
LIMERICK, Pa. – Despite a decline in marine and power systems revenue, Teleflex Inc. (NYSE:TFX) saw substantial overall revenue increases during the second quarter ended June 29 and raised its full year financial outlook, the company reported in a recent statement. Teleflex’s Commercial Segment revenues... Read more »
Twin Disc, Inc sales, net earnings up
July 29, 2008
RACINE, Wis.– Twin Disc, Inc. reported this morning that its financial results for the fiscal 2008 fourth quarter and fiscal year ending June 30, 2008, showed an increase in both sales and net earnings. While sales for the fourth quarter ended June 30, 2008 were flat ($90,349,000 compared to $90,782,000... Read more »
GE Capital Solutions extends ABA contract
July 29, 2008
HOFFMAN ESTATES, Ill. – GE Capital Solutions, Commercial Distribution Finance recently signed a multi-year contract renewal with the American Boatbuilders Association, it reported in a statement this week. “We have been working with GE since 1993, and we value their commitment to the marine industry... Read more »
SMT offers escrow service for boat transactions
July 29, 2008
BRANFORD, Conn. – Secured Marine Transactions, a supplier of financial services for the international boating marketplace, is now offering a bonded third-party escrow service for boat and yacht sales transactions, the company reported in a recent release. With Secure Funds, SMT assumes all fiduciary... Read more »
Cruisers Yachts recognizes dealer achievements
July 29, 2008
OCONTO, Wis. – Cruisers Yachts, a manufacturer of luxury yachts, recognized its top dealers and the recipients of its sixth annual Dealer of Distinction Award (DDA) for excellence in customer satisfaction during the company’s dealer meeting held at the Blue Harbor Resort & Conference Center... Read more »
Monterey honors top CSI dealers
July 29, 2008
WILLISTON, Fla. – Monterey Boats is honoring its “Top Ten CSI Dealers” for excellence in customer satisfaction, the company said in a release yesterday. The dealerships have achieved the highest scores in customer satisfaction over the past year, based on information provided by the National Marine... Read more »
