Champion?

[Gone Fishing]

Heard Ranger, Stratos, and Champion boats were finally bought. Also heard Stratos is moving there factory to Flippin, AR to be close to Ranger. But, they said Champion was still up the air as to even keeping on manufacturing boats.

Anyone else heard this or really know what is going on.

[Hogfan]

Here's some articles from businessweek.com & Marketwire.com

http://www.businessweek.com/ap/financialnews/D9DKN8H01.htm

http://www.marketwire.com/press-release/Platinum-Equity-Completes-Acquisition-of-Genmar-Assets-1110766.htm

[Dutch]

Well it looks like Jacobs didn't get his hands on Ranger and Champion again. That is a good thing as far as I am concerned. I figured his pockets were deep enough to get them.

[mosouthpaw]

scuttlebutt suggests that the management of the ranger plant doesnt want champion around. they have taken stratos into the fold but will probably just not give a hoot about champion or its products. This attitude would probably affect the building of boats even if they started up a champion line. It seems that the management will probably not put much effort into the brand.

jason quinn a pro angler champion boat staffer has signed with another boat company so he could have a boat to fish.

bassboatcentral.com has been talking about this for a while.

sad to see champion go.... but thats what its looking like will happen.

[skeeter]

Thanks for posting the links. It's gotten so bad in the Marine industry you need a scorecard to keep up with who owns what. I have lost track of how many times Champion has been sold. After John bought and sold his boat Company back, again, for the third time I gave up trying but that was many years ago. Champion started off in Mountain Home after John sold his Bass Trail trailer business and it looks like it may be headed back to the same general area. Long term manufacturer's warranties apparently are worthless these days. Again, it's the banks that caused all this turmoil.

[Dutch]

Champion never was a favorite of Genmar because it didn't have the publicity of Rangers so the profit margin was lower. The first thing Jacobs did when Genmar moved Champion to TN was make them give up their 10 biggest dealerships to Ranger. So I guess this is just a carry over.

[redbud]

Wow Platinum Equity is huge,looks like they are munching up everything in thier path. I guess its a good thing becuase a lot of the people will remain working.Now I am wondering what this will do to boat prices,hopefully the market will stablize and the prices will come down to reasonable levels.Seems like the manufacturers were pricing themselves right out of the market,$70 grand for a bass boat is a dream the working man just cannot afford or justify.A reasonable person probably wont sign a 20 year note when the future is so unclear.I dont think they sell a lot of bass boats to the filthy rich,or the Saudi Arabians......that would be a sight, a couple of Arabs flying down the lake ,turbans unfurling in the wind.

[Dutch]

Your average boat buyer is only interested in a few things and the bottom line isn't one of them. He wants to know if you can cover his upside downess in his current boat, can you cover the sales tax, and how big is the payment. He doesn't pay much attention to interest rates or length of the loan.

[rps]

Dutch: You are so cynical - correct though.

[techo]

Your average boat buyer is only interested in a few things and the bottom line isn't one of them. He wants to know if you can cover his upside downess in his current boat, can you cover the sales tax, and how big is the payment. He doesn't pay much attention to interest rates or length of the loan.

Ouch! Funny thing is that every year I look at a faster newer boat. Last year I was even approved for loans at two dealerships before I chickened out on buying a boat that cost more than my pickup truck and more than the first two houses we owned.

I fall into those categories every year asking most of those very questions, but always talk myself out of it.......so far!

Why is the price point so high if they are having that much trouble staying afloat?