1940s frugality is back, says economist

Consumers are paying off credit excesses and putting money into savings, marine bankers are told As the economy recovers, expect a new consumer to emerge – one who is value-conscious, savings-minded and wary of debt. That was Gina Martin Adams’ forecast of consumer attitudes at the National Marine Bankers Association’s annual conference Nov. 10 in…more

Marina firms were dealing for growth

Marina operators made their presence felt at the Fort Lauderdale International Boat Show, announcing a host of new plans and contracts that look ahead to flusher times. Westrec Marinas says it will be managing the Fernandina Beach Harbor Marina, a municipal facility on Amelia Island on northeast Florida’s Intracoastal Waterway. “We think Westrec’s management skills…more


EdgeWater sails into a new segment

Tough times can make for some strange bedfellows, but Peter Truslow says it’s really not that strange that EdgeWater Power Boats is building a high-performance racing/cruising sailboat. Call it technology transfer. Or diversification. Or exploring new markets. Or keeping his Edgewater, Fla., plant humming in the deepest recession since the Great Depression. Or looking beyond…more


Open up and lend, McCoy tells bankers

Brunswick CEO says marine lenders have a big stake in recovery Banks, like boatbuilders and dealers, are still in retrenchment mode, National Marine Bankers Association president Jim Coburn told an audience at the organization’s annual conference, which ran Nov. 8-11 in Hilton Head, S.C. The banks, he says, are trying to shrink their balance sheets,…more


An aura of rebirth at Lauderdale

Some believe the seeds of recovery took root at the bellwether boat show A new day seems to have dawned. Exhibitors at the Fort Lauderdale International Boat Show celebrated not only the show’s 50th edition, but also a ray of real hope and a reprieve from the unremitting bad news of the last two years.…more


Back in the saddle, but only for a while

Gregg and Nancy Burdick took back Stuart Yacht when the boatbuilder that bought it fell on hard times Gregg Burdick and his wife, Nancy, were settling into a comfortable retirement after 30 years in the boatyard business when Riviera Yachts – the Australian boatbuilder that bought their Stuart, Fla., yard – went into receivership. That…more


AB Inflatables: A new home in the country next door

Moving from Venezuela to Colombia has the RIB builder poised for the economic recovery Seats are filling up streetside at Barranquilla’s outdoor sports bars one evening earlier this year for a televised match between Colombia and Venezuela in a qualifying round of World Cup soccer. Boatbuilder Ivor Heyer jokes about the fans’ intensity, but remains…more


Long-overdue shoaling relief on the way

Stimulus package earmarks $1.9 billion for a quick assault on dredging backlog The federal government’s stimulus package has turned out to be a boon for pleasure boaters, who too often must detour around shoaled channels and silted harbors. An estimated $1.9 billion of the $787 billion approved in the American Recovery and Reinvestment Act of…more


Survival? Plan now for the reawakening

Megayachting may be in a deep slumber, but it is far from dead. “What you’ve got is a big bear that has crawled into its cave, and come spring it is going to re-emerge,” says Bob Saxon, a 29-year veteran of megayacht management and now president of Bob Saxon Consultancy in Fort Lauderdale. By the…more


Sleeping bears: slump reaches superyacht segment

With orders drying up and values sinking, the once-immune big boats are going into ‘hibernation’ Few have escaped the pain of this recession. Even the super-rich are feeling it, and so the superyacht industry is feeling it, too. For years, it seemed the super-rich would never lose their appetite for superyachts. “Now suddenly our industry…more

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