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Quick Hits: July 23, 2020

KAM Yacht Sales acquires Luke Brown Yachts; Dragger sinks after crash with sportfisherman, and NJ man pleads guilty to reduced charges in boating death.

Detroit-based KAM Yacht Sales, a subsidiary of Lormax Stern, has acquired the multifaceted Luke Brown Yachts — known for new and used brokerage, custom boatbuilding and charter services — with operations in six cities throughout Florida, Rhode Island and the Bahamas. The new team at Luke Brown will include KAM Yacht Sales team members Daniel Stern as president, Nichole Sleiman as VP of business operations and Max Brochert as VP and sales manager, according to a statement. Luke Brown’s Jason Dunbar and Andrew Cilla will round out the team.

East Hampton authorities have charged the operator of the Cabo sportfisherman, Chaos, with reckless operation of a vessel after the boat collided and sank a commercial dragger in dense fog last weekend. The East Hampton Star reported that the commercial boat, Petrel, sank 70 feet to the bottom about a quarter-mile off Montauk Inlet within minutes of the collision. Both captain and passenger were able to jump overboard; the captain was treated for a shoulder injury and released from a local hospital. A Coast Guard spokesman confirmed to the Star that speeding was a factor in the crash and the owner of the Petrel is looking to salvage his vessel. 

In a virtual court hearing, Nicholas Zarantonello pleaded guilty to a reduced charge in a boating accident on New Jersey’s Lake Hopatcong that led to the drowning death of his passenger, Jason Gil. Zarantonello told the judge he was under the influence of drugs while piloting the pontoon boat last August, and now faces the maximum of five years in prison. “The court will listen to arguments of counsel and review arguments submitted and impose a sentence the court feels is most just,” Judge Stephen Taylor told, adding that probation is also an option. 


TPG Adds to Marine Portfolio

The hospitality and marina management firm acquired Conanicut Marina and Taylor Point Boat Yard in Jamestown, R.I.

Trade Only Today Returns Jan. 18

The daily e-newsletter will not publish Monday, Jan. 17, in observation of Martin Luther King Jr. Day. We wish everyone a happy and safe holiday weekend.

ECONOMY REPORT: Omnipresent Omicron

The year closed with an uptick in consumer confidence, but the latest coronavirus variant threatens to derail progress

Mixed Reactions

Though generally positive about market conditions, many dealers report they won’t be attending boat shows.

Sportsman Boats Hires CFO

Greg House was previously chief financial officer with Sea Star Solutions and Dometic.

NMMA Reports Strong Boat Sales in 2021

Annual new powerboat sales are expected to exceed 300,000 units for the second consecutive year.

Lowrance Releases Software Update

The software release enables a new sonar feature and autopilot compatibility for Ghost trolling motors and Ghost-compatible MFDs.

Keeping the Sales Team Motivated and Sharp

Here are some strategies from the “Undisputed King of Motivation,” Zig Ziglar, for sales success before, during and after the transaction.