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02-02-2009, 04:12 PM
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#1
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Registered User
Country: uk
Location: poole
Occupation: retail
Interests: sport and being lazy
Boat make: ring rib
Engines: merc xr2
Cruising area: bournemouth bay
Join Date: Jan 2006
Location: poole
Posts: 1,681
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Fountain having a bad time
Delisting procedures started for Fountain
Reggie may have to make a few cut backs in the clothing department
however love or hate them it's a real pity to see a manufacturer so into racing, and that has supported racing for so long to get this close to administration
http://www.tradeonlytoday.com/index....-delisted.html
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i can na give her any more captain
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02-02-2009, 06:33 PM
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#2
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Registered User
Country: UK
Location: Thorpe
Occupation: Mechanic
Boat name: spend it
Boat make: sr9 pascoe
Engines: 496 mag ho
Cruising area: Poole n solent
Join Date: Jun 2004
Location: Thorpe
Posts: 139
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fountain gone skint
thats a shame they were hinting at that the other day on oso ile just av to look after my one
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02-02-2009, 06:45 PM
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#3
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Registered User
Country: England
Location: Hampshire
Occupation: Credit Crunched
Interests: Rally Driving
Boat name: Double 2 Shirts
Boat make: Planatec 41
Engines: 2x625's+ From Uncle Sam
Cruising area: Solent
Join Date: May 2007
Location: Hampshire
Posts: 2,522
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Quote:
Originally Posted by Andy Edwards
thats a shame they were hinting at that the other day on oso ile just av to look after my one
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Kin Ada gone up in value me O'l China
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25-08-2009, 07:15 PM
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#4
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Registered User
Country: England
Location: Great Horwood
Join Date: Mar 2005
Location: Great Horwood
Posts: 2,372
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25-08-2009, 10:19 PM
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#5
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Registered User
Country: Guernsey
Occupation: Engineering
Boat make: None, boo!
Engines: Turbines mainly!
Cruising area: The inside of my workshop!
Join Date: Mar 2008
Posts: 2,646
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Such a shame, must be heartbreaking for him.
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25-08-2009, 11:31 PM
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#6
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The Doc
Join Date: Mar 2004
Posts: 8,291
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i'm sure whatever happens, fountain wont go to the wall. And I doubt it'll dent his personal wealth much.
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26-08-2009, 06:59 AM
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#7
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Registered User
Location: West Coast of Norway
Occupation: naval architect
Interests: surface piercing props, stepped hulls, air entrapment hulls
Boat name: none
Boat make: PetterTintorera
Engines: Yamaha 90
Cruising area: West Coast of Norway
Join Date: Sep 2005
Location: West Coast of Norway
Posts: 888
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27-08-2009, 11:08 AM
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#8
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Trade Member
Country: United States
Location: South Texas. USA
Occupation: Own JSRE ( Jay Smith Racing Engines )
Interests: ACCELERATION (anykind )
Join Date: Jan 2006
Location: South Texas. USA
Posts: 244
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In this economy the high end and VERY narrow market things ( toys ) of the rich are too suffering..
I own a high end chevy car that I bought last year new for $80,000.00 + USD, window stickered priced , I went to a speciality outlet last Sat. looking for some black Carbon Fiber wheels where these cars and their parts are marketed and you can by an 09 with 1200 miles on it for $63,000.00 USD now. These used to be a bit hard to find but now there were at least 7 of this type car on this one showroom floor all colors and year models all being sold on consignment , even the wealthy are feeling the economic BITE selling off their "TOYS"...
Even Fountain and other exotic , high end "TOY" manufacturers find themselves caught up in this down turn economy. Seems as if, although SLOWLY easing a bit, this segment of our lives has left no specific group of the down turn economy "untouched" we ALL have been suffering here in the US due to crooked gov. officials and greed... Hopefully the US population reads the hand writing on the walls and weeds these "snakes" from our gov. before they take the whole world down the sewer pipes..
Jay
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27-08-2009, 11:36 AM
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#9
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Registered User
Country: uk
Location: poole
Occupation: retail
Interests: sport and being lazy
Boat make: ring rib
Engines: merc xr2
Cruising area: bournemouth bay
Join Date: Jan 2006
Location: poole
Posts: 1,681
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i can na give her any more captain
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27-08-2009, 11:50 AM
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#10
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Registered User
Country: uk
Location: poole
Occupation: retail
Interests: sport and being lazy
Boat make: ring rib
Engines: merc xr2
Cruising area: bournemouth bay
Join Date: Jan 2006
Location: poole
Posts: 1,681
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PS ... I note in the second article it states assets at 3 bucks so guys I'm on the phone to Obama with an offer of 10 bucks to triple their assets how can they refuse
I could be the NEW CEO of the fastest beak boats in the world ... eat ye heart out Phantom
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i can na give her any more captain
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10-10-2009, 03:58 PM
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#11
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Registered User
Country: uk
Location: poole
Occupation: retail
Interests: sport and being lazy
Boat make: ring rib
Engines: merc xr2
Cruising area: bournemouth bay
Join Date: Jan 2006
Location: poole
Posts: 1,681
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This is the latest statement about Fountain powerboats seems Reggie hangs in their but has to cough up $29,375 each month, however that is probably way way cheaper than the payments he was making to the banks or at least should of been making to the banks
A bankruptcy judge has ruled in favor of Fountain Powerboats, and will allow the Beaufort County boat maker to reorganize.
After a day long hearing in Wilson, the judge will allow Reggie Fountain to remain as president and CEO of the company and permit it to reorganize with Liberty Associates.
On Monday, Oxford Investments purchased a $19 million Regions Bank note at auction for $6.75 million. The judge says Fountain must now make monthly payments of $29,375 to Oxford to pay off that note.
Stay with WITN News and witn.com for more on this developing story.
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i can na give her any more captain
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08-06-2010, 09:38 AM
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#12
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Moderator
Join Date: Nov 2005
Posts: 1,041
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Snap!
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