Regulations and Compliance

Many federal and state government regulations affect the marine industry. Trade Only follows developments as companies strive to operate in compliance with the rules.

Experts say finance reform legislation could hurt dealers

Finance reform bills approved for debate by the Senate and poised to go before the House could mean bad news for boat dealers if passed in their original form, according to marine lending experts. As the bills were written, banks providing loans across state lines would have to follow laws in each state instead of…more

Florida yacht tax cap gains another ally

Legislation to cap Florida’s sales tax on yachts at $18,000 is working its way through the legislature. The legislation is touted as a means to boost the boatbuilding business and cut into the state’s 12.2 percent unemployment rate. Having passed the House and up for possible debate in the Senate, the legislation prompted a meeting…more

CBO tabs health care bill at $940 billion

House leaders plan to unveil the final health care bill later today – an overhaul the Congressional Budget Office says will cost $940 billion over a decade, according to media reports. Democrats said they are on track for a Sunday vote on the bill, The Wall Street Journal reports. People close to the situation said…more

Senators ask SBA to extend floorplan program

Two U.S. senators have sent a letter to the Small Business Administration encouraging the agency to extend the dealer floorplan pilot program from one year to three years, the National Marine Manufacturers Association reports. The letter, sent by Sen. Mary Landrieu, D-La., and Sen. Olympia Snowe, R-Maine, also asks the SBA to increase its outreach…more

Obama’s coastal zoning proposal raises concerns

The Obama Administration has proposed using expanding zoning to coastal and even some inland waters, which has raised concerns among fishermen that their favorite fishing holes could soon be off limits. Many weekend anglers fear that the Obama administration’s promise to “fundamentally change” water management in the U.S. will erode what they call the public’s…more

Unemployment remains at 9.7 percent

The unemployment rate held at 9.7 percent in February, the U.S. Bureau of Labor Statistics reported today. Employment fell in construction and information, while temporary help services added jobs. In February, the number of unemployed persons stood at 14.9 million, which was essentially unchanged from January. The number of long-term unemployed (those jobless for 27…more

South Florida marine industry meets with SBA official

The Small Business Administration is traveling the country meeting with frustrated business owners and South Florida’s boating industry vented its concerns in the latest stop in Miami. Esther Vassar, national ombudsman and assistant administrator for regulatory enforcement fairness, heard from many small-business owners in the Sunshine State who are concerned about tight credit markets, red…more

Unemployment rate at 9.7 percent

The unemployment rate fell from 10 percent in December to 9.7 percent in January, the U.S. Bureau of Labor Statistics reported Friday. Employment dipped in construction, transportation and warehousing, while temporary help services and retail trade added jobs. In January, the number of unemployed decreased to 14.8 million. Click here for the full report.

NMMA calls on Obama to clarify remarks about buying boats

The National Marine Manufacturers Association called on President Barack Obama to clarify his remarks made Tuesday in Nashua, N.H., that associated purchasing a boat with irresponsible spending. The President made this off-the-cuff remark at a town hall event announcing his new Small Business Lending Initiative. The President has already apologized to Las Vegas for similar…more

Obama takes heat for boat-buying comment

During a speech Tuesday in New Hampshire, President Barack Obama made some comments about fiscal responsibility that have riled some in the boating industry and Las Vegas. “This isn’t how responsible families do their budgets,” Obama said. “When times are tough, you tighten your belts. You don’t go buying a boat when you can barely…more

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