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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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Boat businesses or condominiums? Vote will shape Florida waterfront

Industry views Nov. 4 tax relief referendum as crucial to determining whether lucrative development will stamp out traditional marine uses Floridians will vote Nov. 4 on a constitutional amendment supporters hope will help preserve working waterfront — public marinas, boatyards, dry stacks, launch ramps, boatbuilding, commercial fishing and other marine-related facilities — by giving these…more

At 90, marina founder has seen it all

Robert Cox used to keep a loaded Colt .45 caliber revolver and a thick piece of fiberglass in his desk at Lauderdale Marina, which he established 60 years ago in Fort Lauderdale. When a client challenged whether this newfangled hull material could stand up to a Gulf Stream crossing, he’d take out that piece of…more

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Maintain an even keel

The message from Lauderdale Marina in Fort Lauderdale is to build up discipline, cash during slow periods “This, too, shall pass,” says John Clark, referring to the current slump in the boating industry. “It will pass.”Clark, 70, ought to know. He’s president of the 70-slip Lauderdale Marina, celebrating its 60th year in business in Fort…more

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A parade of hurricanes, but marine losses few

Mid-season assessment shows businesses had some scares, but most came through OK A phalanx of late-summer hurricanes fired fast and furious across the Atlantic, slamming Haiti, Cuba and the Turks and Caicos, and putting much of the U.S. Atlantic and Gulf coasts in harm’s way. When the storms abated, however, boats, marinas and boatyards in…more

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