Deadline is set for Fountain bidders

[phragle]

Dateline: Washington N.C. 15:50 15, September 2009. AP wire, for immediate distribution.

A New Jersey resident, claiming to be in the environmental services industry (though the only evidence of employment lists him as a garbageman) has just purchased the assets of Fountain Powerboats. He plans to continue operations, while changing the name to "Steczerette". When asked what interested him in the Fountain operation, he replied "Every boat has a FREAK"! He was than informed that Fountain powerboats have 'Beaks' not 'Freaks'. Mr. Stecz than began to cry, realizing the error of his purchase and offered to sell/trade his new company to one Mike Fiore for the sum of two (2) warm Miller Lites and a half (1/2) eaten baloney sandwich. At this time a dwarf in a black jump suit, tentatively ID'd as "MC Reggie" (presumed to be a rap star due to the black jumpsuit, incoherent tirades and extensive gold jewelry) became rather upset. MC Reggie then started a fist fight, but was only successful at hitting people in the knee area.

In related news, a Mercedes apparently owned buy "PETA" members, was seen running down a cat killer (presumed to be part of MC Reggie's posse) and fleeing the scene at a high rate of speed.

[Cash Bar]

I have a great picture of Reggie.

Handing me my trophy for winning my first ever OS Race......in a CAT !!!

[cosmic12]

Dateline: Washington N.C. 15:50 15, September 2009. AP wire, for immediate distribution.

A New Jersey resident, claiming to be in the environmental services industry (though the only evidence of employment lists him as a garbageman) has just purchased the assets of Fountain Powerboats. He plans to continue operations, while changing the name to "Steczerette". When asked what interested him in the Fountain operation, he replied "Every boat has a FREAK"! He was than informed that Fountain powerboats have 'Beaks' not 'Freaks'. Mr. Stecz than began to cry, realizing the error of his purchase and offered to sell/trade his new company to one Mike Fiore for the sum of two (2) warm Miller Lites and a half (1/2) eaten baloney sandwich. At this time a dwarf in a black jump suit, tentatively ID'd as "MC Reggie" (presumed to be a rap star due to the black jumpsuit, incoherent tirades and extensive gold jewelry) became rather upset. MC Reggie then started a fist fight, but was only successful at hitting people in the knee area.

In related news, a Mercedes apparently owned buy "PETA" members, was seen running down a cat killer (presumed to be part of MC Reggie's posse) and fleeing the scene at a high rate of speed.

Finally something to laugh about on this thread

[DAREDEVIL]

Dateline: Washington N.C. 15:50 15, September 2009. AP wire, for immediate distribution.

A New Jersey resident, claiming to be in the environmental services industry (though the only evidence of employment lists him as a garbageman) has just purchased the assets of Fountain Powerboats. He plans to continue operations, while changing the name to "Steczerette". When asked what interested him in the Fountain operation, he replied "Every boat has a FREAK"! He was than informed that Fountain powerboats have 'Beaks' not 'Freaks'. Mr. Stecz than began to cry, realizing the error of his purchase and offered to sell/trade his new company to one Mike Fiore for the sum of two (2) warm Miller Lites and a half (1/2) eaten baloney sandwich. At this time a dwarf in a black jump suit, tentatively ID'd as "MC Reggie" (presumed to be a rap star due to the black jumpsuit, incoherent tirades and extensive gold jewelry) became rather upset. MC Reggie then started a fist fight, but was only successful at hitting people in the knee area.

In related news, a Mercedes apparently owned buy "PETA" members, was seen running down a cat killer (presumed to be part of MC Reggie's posse) and fleeing the scene at a high rate of speed.

Damn,,how can u make this up ?? LOL

[Offshoredrillin]

That is where my bet is going to be placed. Build it up, play hard, loot it out & then walk away from your contracts you "didn't really want to get into" & have a fresh slate to do what you want to do with. He has said it many times. He wished he still had the control of the company. Pre-BK.
You had better bet your ass that this is a calculated business move.

i agree, this is what I have said all along. I wonder how faithful the people will be to him once he does this and screws all the vendors and everyone else? would they buy a boat from him really knowing how much of a thief he is?

[PatriYacht]

I would say that it is a possability that Reggie himself emerges as the winning bidder or as the head of a group of bidders. Over the years, he has probably paid himself a good salary and put away a bit of money. No legal reason he couldn't do it. Just speculation.

[Davidmnc]

That is where my bet is going to be placed. Build it up, play hard, loot it out & then walk away from your contracts you "didn't really want to get into" & have a fresh slate to do what you want to do with. He has said it many times. He wished he still had the control of the company. Pre-BK.
You had better bet your ass that this is a calculated business move.

I think you are pretty close on this one!

[Wobble]

I would say that it is a possability that Reggie himself emerges as the winning bidder or as the head of a group of bidders. Over the years, he has probably paid himself a good salary and put away a bit of money. No legal reason he couldn't do it. Just speculation.

That is my thinking also.

[DAREDEVIL]

That is my thinking also.

YEP,,agree

[Bad Idea Baja]

If tiny Elvis does come out a winner in this deal I think he should be beaten with a rubber hose.
I don't think it would hurt his business one bit. A measurable amount anyway. There will be a bigger voice of haters, but I don't think the general boating public will care as a whole.
Racers will still race his product & they will still win.

[db71]

My bet as I already stated is 4 or 5 dealers and reggie go together in a group and buy this. I would even go as far as to say no one else bids. The dealers will be the owners and reggie will be the manager.

Probably been in the works for a while I mean Shogren just built a new showroom for fountain and baja and I do not see the names coming off of his ads. The positive side of this is the dealers will have a leaner boat company with minimal overhead expense (bought it on the cheap). And the brand lives on.

I am already planning my business around this model. Start business, make good product, take public, live like a king for 20+ years while taking large salary, file bk, sell assets to friends, retire and work for your friends business part time.

[Dreamer]

I don't think it would hurt his business one bit. A measurable amount anyway. There will be a bigger voice of haters, but I don't think the general boating public will care as a whole.
Racers will still race his product & they will still win.

what business? there is none.....

[Bad Idea Baja]

what business? there is none.....

The new one, assuming it goes down like most think it will.

[Sea-Dated]

Hustler is saying they are going to buy it according to the other site:

http://www.offshoreonly.com/forums/g...owerboats.html

Hustler is currently in negotiations to purchase Fountain powerboats and all its assets. As of Oct. 5th, Fountain powerboats will go up for auction and no longer be doing business. Hustler Powerboats will move its operations to NC and re-build the Fountain and Baja Line to full capacity over the next 4 years and keep the Fountain Legacy intact as we feel it is a big part of Performance boat history and do not want to see it die off. We are dedicated to re-strengthening both Fountain and Baja, keeping the same look and feel with improved quality and workmanship. Over these last couple years, Hustler has been blessed with sales and is running strong and would like to give back to the boating community by saving these companies from being auctioned off piece by piece.

If you have any question please feel free to email me at john@hustlerpowerboats.com

[Davidmnc]

Interesting. I don't know much about Hustler. How many boats do they build a year? I like the way this sounds.

[fund razor]

Hustler is currently in negotiations to purchase Fountain powerboats and all its assets. As of Oct. 5th, Fountain powerboats will go up for auction and no longer be doing business. Hustler Powerboats will move its operations to NC and re-build the Fountain and Baja Line to full capacity over the next 4 years and keep the Fountain Legacy intact as we feel it is a big part of Performance boat history and do not want to see it die off. We are dedicated to re-strengthening both Fountain and Baja, keeping the same look and feel with improved quality and workmanship. Over these last couple years, Hustler has been blessed with sales and is running strong and would like to give back to the boating community by saving these companies from being auctioned off piece by piece.

That is awesome. The only problem will be rebuilding the socio-economic conditions that allowed Fountain and Baja to run at full capacity in the first place. I wish that the world hadn't changed since the days that these lines were at "full capacity." I wish you the best of luck, because competing against the enormous glut of repo'd and dumped late model used boats of both brands being sold at ridiculously low prices into an economy with less qualified buyers and few options for the "forever finance plan" will be tough. Godspeed.

[WARPARTY36]

Sounds like a plan, but why announce it before it's final?

[32storm]

Interesting. I don't know much about Hustler. How many boats do they build a year? I like the way this sounds.

Hustler is a low volume custom builder. I hope this doesn't mean I am going to have to graft a beak onto my Hustler.

[T2x]

Regarding the Hustler announcement:

With all due respect, I don't see how this is a "giving back to the boating community" thing. It is obviously a business decision no more, no less. Anything else and you are not serving your own best interests IMHO.

That having been said, there are far too many "brands" in the high performance industry and far too much manufacturing capacity for future needs and demand. Too me, saving a "brand" is not in the best interests of the industry as a whole.

It is great that Hustler is doing well as a limited production semi custom builder. This also applies to Cigarette, Skater, and a few other builders. Frankly, that's enough for the future.

What does make sense is moving Hustler from high cost Long Island to low cost rural North Carolina. Trying to leverage that into making Hustler a high unit producer will be very problematical. Do the industry a "favor" and let the Fountain and Baja "brands" rest in peace.

In any event this is just my .02...and I wish Hustler good luck tilting at windmills.

T2x

[gerritm]

What does make sense is moving Hustler from high cost Long Island to low cost rural North Carolina. Trying to leverage that into making Hustler a high unit producer will be very problematical. Do the industry a "favor" and let the Fountain and Baja "brands" rest in peace.

In any event this is just my .02...and I wish Hustler good luck tilting at windmills.

T2x[/QUOTE]

Why do you think that Fountain and Baja should die? Someone needs to build a good quality, affordable, middle of the line offshore performance boat. Not everyone can afford OL, Nortech, Cig, Skater, etc. I think Reggie and Fountain has done a lot for our sport and the industry.