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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

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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

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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

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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

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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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A $100,000 boost for big-boat repairers

Marine industry’s long-sought insurance relief rides the economic stimulus package into reality Buried on Page 830 of the 1,424-page American Recovery and Reinvestment Act is a plum Kristina Hebert has been trying to wrangle from Congress for eight years -an insurance break for companies whose employees service boats 65 feet and over. No longer will…more

Want to sell a marina? It’s a new ballgame

Selling a marina in this environment isn’t easy, but it’s also not impossible. “There’s still a large gap between sellers’ expectations and buyers’ expectations,” says broker Karen Calvacca of Waterfront Investment Properties in Newburyport, Mass. Typical capitalization rate, a figure derived by dividing a marina’s net operating income into its market value, is probably 8…more

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Marina operators hear a message of hope

Record turnout at IMBC is told to prepare for recovery that could begin before the end of the year Expect 2009 to be tougher than 2008, but economic recovery could begin later this year or in early 2010. In the meantime, a keen nose can sniff out business opportunities now, and a sharp eye can…more

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Measure takes the pressure off at E&H

How do you spell relief? A-m-e-n-d-m-e-n-t-6. At least that’s what Christopher Hodge is thinking after Floridians voted Nov. 4 to adopt the tax relief measure for working waterfronts. Some property tax relief would be welcome, especially in today’s tough economic climate, says Hodge, president of E&H Boat Works and The Ways, both in Palm Beach…more

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Industry leaders savor Florida victory

Working on a shoestring budget, the marine community showed voters the valueof working waterfronts, and they responded by passing Amendment 6 Despite unremitting bad news about the economy, Florida’s marine industry found reason to celebrate after the Nov. 4 elections, as Floridians voted to adopt an amendment to the state constitution to help preserve working…more

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