VIDEO: The new reality after the Great Recession - Trade Only Today

VIDEO: The new reality after the Great Recession

Publish date:
Social count:

There are many lessons to be learned from the Great Recession, and industry leaders Bill Yeargin, of Correct Craft; Larry Russo Sr., of Russo Marine; and Joe Lewis, of the Mount Dora Boating Center and Marina, shared what they learned at the International BoatBuilders’ Exhibition & Conference.

In September 2008, when the market plunged, all said they knew business wouldn’t be the same and all went into action right-sizing their companies to weather the storm.

Click play for more advice from Yeargin, Russo and Lewis.

Yeargin said he asked his employees to look at the downturn as a permanent change, not something to be dealt with for six months or so.

There’s no detail too small to look at, Lewis added.

Russo said every aspect of his business has changed in the last few years and he has constantly adjusted to try to stay ahead of the decline.


NMMA: Bad trade policies are piling up

President Trump announced a new round of tariffs on China that would affect marine components being imported from there, further jeopardizing strong growth in the industry, said the National Marine Manufacturers Association.

Law symposium issues call for speakers

Following the success of the 2017 and 2018 ABYC Marine Law Symposiums on the East Coast, the American Boat and Yacht Council will host next year’s Marine Law Symposium in Seattle on Jan. 8.