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Boat dealers make news when, for example, they add new lines of boats, relocate, get new owners or acquire other dealerships.

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Opinions mixed on Grow Boating decision

Some advise patience, while others are skeptical of how the redirected dollars will reach them Boat dealers have mixed reactions to the announcement that the bulk of the funds collected for Grow Boating will be given back to manufacturers to pass along to the dealers. Some express skepticism this will actually happen, and others say…more

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Downturn doesn’t stop Grand Banks dealer

Wealthy clients and brand reputation propel CYI to a banner first year To say Steve Fithian has the Midas touch isn’t much of an exaggeration. Instead of hunkering down in these difficult economic times, he’s hiring new sales staff. He added a third office and will soon open a fourth, and he moved his company…more

Dealers and Distributors

TRAC Ecological Marine Products of Fort Lauderdale appointed three new distributors: Albatros Ltd. in Greece, Cutricu Services Ltd. in Malta, and Stella Marine Group Pty Ltd. in Australia. TRAC manufactures environmentally friendly products for cleaning boats, and cooling and water systems. The distributors will maintain a complete inventory of TRAC products to supply boatbuilders, boatyards…more

Vegas dealer conference in full swing

LAS VEGAS — Tuesday’s Marine Dealer Conference & Expo featured plenty of advice on surviving in the current economy, best practices for a dealership and its service department, a snapshot of the economic landscape, and awards for those who provided exceptional service to the industry. The first full day of the event, which runs through…more

The ever-changing marine lending landscape

Editor’s note: This is how things stood in early October.   Who’s out1) May 2006, National City. This was a top-10 retail marine lender since about 1996 and became a national player in 2001, says Jim Coburn, vice president for lending at FlagStar, who also worked at National City for 25 years. Local National City…more

Tough economic times: How did we get here?

Concerns about the subprime mortgage crisis have been around for awhile, with many blaming high-risk loans for triggering the broader economic problems. Here’s a brief rundown of some major developments in the financial crisis: MarchBear Stearns Co. is bought by JPMorgan Chase & Co. in a deal orchestrated by the government, following a sharp decline…more

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Marine finance upheaval squeezes dealers

Editor’s note: This is where things stood in marine finance in early October. The banking environment, however, was changing on almost a daily basis, and the situation may have changed in the interim. As financial institutions drop out of marine industry finance, dealers say credit has tightened and they worry not only that interest rates…more

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Analysis: Will the ‘bailout’ have buoyancy?

Industry veterans eager for an end to downturn they call the worst ever It has been a tumultuous late summer and fall in the both the marine industry and the economy as a whole. Volatility best describes a time when the largest one-week drop in the history of the stock market was followed on Oct.…more

PWC braking system patent for sale

PWC Industries Inc., a part of Watercraft Innovations, is offering its personal watercraft braking system patent for sale. Fort Myers, Fla.-based PWC Industries developed the system in 2004. U.S. patent No. 7,007,621 was granted in 2006 and also filed in Canada. The company holds rights for a hand-controlled actuator assembly requiring the use of at…more

Dealer Digest

Formula Boats, of Decatur, Ind., recently recognized dealers with Best Practice awards and customer satisfaction achievements. Five dealerships received Best Practice awards at Formula’s dealer meeting at the Sanibel Harbor Resort and Spa in Fort Myers, Fla. Recipients were determined from a review of dealership applications, customer nominations and Formula on-site visits. Another 21 Formula…more

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