Genmar Files Chapter 11
 

jps wrote:
On Tue, 2 Jun 2009 11:39:18 -0700 (PDT),
wrote:


Don't be afraid to buy Ranger. Ranger is Genmar's top performing boat
companies. They'd be the last place closed. Things are business as
usual there. No plans to close the door.

Come on rec.boaters.

This is your chance to support an American industry.

All you old fat, retired Republicans should go out and buy a Ranger
today. It's patriotic.


Yeah, and for several here, why, it would mean ownership of a boat.

Genmar Files Chapter 11
 

On Tue, 02 Jun 2009 09:03:07 -0400, Wizard of Woodstock
wrote:

On Mon, 01 Jun 2009 21:08:03 -0400, HK wrote:

He said the bankruptcy filing will allow Genmar to put together a
business plan that will resolve the loan issue with Wells Fargo.
“We believe that once Genmar exits Chapter 11 we will be a better and
stronger company than ever before,” he said.

Crap - I'm in the market for a Ranger bass boat.

That does not bode well for Ranger - being an upscale type bass boat,
I can't imagine them closing downt the line, but there have been
rumors about that so they can concentrate on Stratos and Champion.

Damn - not good news - Jacobs is a moron and it wouldn't surprize me
if he shuttered Ranger. Either that or downgrade the quality.

Now I gotto go looking at Nitros? EEEWWWWWW......... :)

And you call yourself an American?

Pony up dude! Keep hope alive!

Genmar Files Chapter 11
 

On Tue, 2 Jun 2009 11:39:18 -0700 (PDT),
wrote:

Don't be afraid to buy Ranger. Ranger is Genmar's top performing boat
companies. They'd be the last place closed. Things are business as
usual there. No plans to close the door.

Nice to know that Ranger marketing is on top of things.

Whew - now I feel better.

Let's talk about a Z-21. :)

Genmar Files Chapter 11
 

Genmar Files Chapter 11
 

On Tue, 02 Jun 2009 18:29:43 -0400, Wizard of Woodstock
wrote:

On Tue, 2 Jun 2009 11:39:18 -0700 (PDT),
wrote:

Don't be afraid to buy Ranger. Ranger is Genmar's top performing boat
companies. They'd be the last place closed. Things are business as
usual there. No plans to close the door.

Nice to know that Ranger marketing is on top of things.

Whew - now I feel better.

Let's talk about a Z-21. :)

Come on you chicken****. Pony up for an American institution!

Genmar Files Chapter 11
 

"HK" wrote in message
m...
Irwin Jacobs' Genmar files for Chapter 11 bankruptcy

By Susan Feyder, Minneapolis Star Tribune

Genmar Holdings Inc., the Minneapolis-based boat manufacturer founded and
headed by Twin Cities businessman Irwin Jacobs, today filed for protection
from its creditors under federal bankruptcy laws.

The company’s Chapter 11 petition filed in U.S. Bankruptcy Court in
Minnesota listed assets of $237.5 million and liabilities of $216.5
million. Jacobs said the bankruptcy petition does not include more than
$400 million in intangible assets, whose value were determined recently by
Wells Fargo & Co., its lead banke r. Wells Fargo and Fifth Third bank are
the only secured creditors, owed $75 million.

Obama isn't going to bail them out.

But at least they didn't operate the company into a criminal level of debt
like GM/Wagoner did.

Genmar Files Chapter 11
 

"John H" wrote in message
...
On Mon, 01 Jun 2009 21:08:03 -0400, HK wrote:

Irwin Jacobs' Genmar files for Chapter 11 bankruptcy

By Susan Feyder, Minneapolis Star Tribune

Genmar Holdings Inc., the Minneapolis-based boat manufacturer founded
and headed by Twin Cities businessman Irwin Jacobs, today filed for
protection from its creditors under federal bankruptcy laws.
Don't blame me. I voted for the American.
--
John H

"The problem with Socialism is that you eventually run out of other
people's money." --Margaret Thatcher

Or the people get the bill.

But honestly, it is too late. I suspect no one ever expects the grad daddy
debter of them all to pay thir debts. Government itself is technically
insoluable.