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Carrera Elite
Libra
HDF Supporter
  
Glendale,AZ
Posts: 44,127
APPD 5.50
Post Rank: 2
1990 Carrera 23.5 Classic
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Posted: Oct. 20 2008,7:15 pm |
Post # 2 |
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| Quote (WATERDOG @ Oct. 20 2008,3:43 pm) | CHICAGO — Shares of embattled boatmaker Brunswick Corp. sank to a 25-year intraday low Monday after Moody’s Investor Services cut the manufacturer’s debt ratings to junk status. Knoxville is home to the company’s marine division.
Moody’s senior credit officer Kevin Cassidy said the agency’s review of the company will continue, despite the downgrade of Brunswick’s unsecured notes, commercial paper, corporate family rating and probability of default rating.
“The downgrade reflects our concerns that the continuing turmoil in the financial markets will result in a significant contraction in discretionary consumer spending over the foreseeable future and may put pressure on the company’s dealer network and its liquidity position,†Cassidy said in a statement. “While Moody’s believes that Brunswick will continue to attempt to protect its credit metrics and liquidity, we are concerned about the company’s reduced financial flexibility as its ability to comply with a financial covenant is uncertain.†|
That Seems To Be More Of A Trend Right Now.... 
Sarcasim, Just one more thing that I offer for free!! I've Reached The Age Where Happy Hour Is A Nap!! WWW.StormPokerRuns.Com  |
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GoFastRacer
HDF Supporter
V-Driver For Life!
 
Big River, Ca
Posts: 62,729
APPD 7.90
Post Rank: 1
Spectra20
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Posted: Oct. 21 2008,6:00 am |
Post # 3 |
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| Quote (Carrera Elite @ Oct. 20 2008,7:15 pm) | | Quote (WATERDOG @ Oct. 20 2008,3:43 pm) | CHICAGO — Shares of embattled boatmaker Brunswick Corp. sank to a 25-year intraday low Monday after Moody’s Investor Services cut the manufacturer’s debt ratings to junk status. Knoxville is home to the company’s marine division.
Moody’s senior credit officer Kevin Cassidy said the agency’s review of the company will continue, despite the downgrade of Brunswick’s unsecured notes, commercial paper, corporate family rating and probability of default rating.
“The downgrade reflects our concerns that the continuing turmoil in the financial markets will result in a significant contraction in discretionary consumer spending over the foreseeable future and may put pressure on the company’s dealer network and its liquidity position,†Cassidy said in a statement. “While Moody’s believes that Brunswick will continue to attempt to protect its credit metrics and liquidity, we are concerned about the company’s reduced financial flexibility as its ability to comply with a financial covenant is uncertain.†|
That Seems To Be More Of A Trend Right Now.... Â |
Yep sure is!.. 
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GoFastRacer
HDF Supporter
V-Driver For Life!
Big River, Ca
Posts: 62,729
APPD 7.90
Post Rank: 1
Spectra20
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Posted: Oct. 21 2008,8:06 am |
Post # 5 |
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And it's gonna get worse before it gets better!..
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GoFastRacer
HDF Supporter
V-Driver For Life!
Big River, Ca
Posts: 62,729
APPD 7.90
Post Rank: 1
Spectra20
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Posted: Oct. 21 2008,8:29 am |
Post # 7 |
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| Quote (WATERDOG @ Oct. 21 2008,8:24 am) | | You AZ guys didn't mention that Tempe Marine just closed after 30 years. |
Didn't know it until you mentioned it!. 
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shueman
Libra
HDF Gold Supporter
Born To Drive...
Alta Loma CA
Posts: 17,228
APPD 2.27
Post Rank: 4
NADA
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Posted: Oct. 21 2008,8:22 pm |
Post # 10 |
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| Quote (GlassMan @ Oct. 21 2008,7:59 am) | Acording to the boat trade rags, everyone is downsizing.
Sweden's Volvo Penta has laid off 90 of its 245 employees at the company's engine factory in Vara.
Century Boats to shut down production in November and December. The Florida builder will temporarily lay off 109 workers.
I don't think that the sailboat manufacturers are getting hit as bad as powerboat builders. Fuel prices really hit the power guys hard. |
Eliminator's feeling it as well...  Anybody need an RV...  
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| Member # 376 | Joined: 2-01-2004 | |
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BigDog
Not Float'n Enuff
Phoenix, AZ
Posts: 24,808
APPD 3.50
Post Rank: 3
'99 Searay 210 Sundeck
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Posted: Oct. 21 2008,9:42 pm |
Post # 12 |
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| Quote (WATERDOG @ Oct. 21 2008,8:24 am) | You AZ guys didn't mention that Tempe Marine just closed after 30 years.
Cheetah has closed their doors and moved the molds over to Domin8ter. Shop for both company's is about the same size as my garage. |
WOW!!! I did not know Tempe Marine closed. They were not far from me. I have not heard of Monster. Their even closer than Tempe was. I will have to check them out one day on the way home from work.
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GoFastRacer
HDF Supporter
V-Driver For Life!
Big River, Ca
Posts: 62,729
APPD 7.90
Post Rank: 1
Spectra20
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Posted: Oct. 22 2008,6:01 am |
Post # 13 |
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| Quote (shueman @ Oct. 21 2008,8:22 pm) | | Quote (GlassMan @ Oct. 21 2008,7:59 am) | Acording to the boat trade rags, everyone is downsizing.
Sweden's Volvo Penta has laid off 90 of its 245 employees at the company's engine factory in Vara.
Century Boats to shut down production in November and December. The Florida builder will temporarily lay off 109 workers.
I don't think that the sailboat manufacturers are getting hit as bad as powerboat builders. Fuel prices really hit the power guys hard. |
Eliminator's feeling it as well... Â Anybody need an RV... Â |
It's a domino effect, everybody is feeling it!..
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GoFastRacer
HDF Supporter
V-Driver For Life!
Big River, Ca
Posts: 62,729
APPD 7.90
Post Rank: 1
Spectra20
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Posted: Oct. 22 2008,6:13 am |
Post # 15 |
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It sure is!..
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WATERDOG
Gemini
HDF Silver Supporter
Don't Bother Me, I'm in Havi
MENIFEE, CA
Posts: 10,292
APPD 1.60
Post Rank: 8
ELIMINATOR EAGLE
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Posted: Oct. 22 2008,8:08 am |
Post # 16 |
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| Quote (GoFastRacer @ Oct. 22 2008,6:01 am) | | Quote (shueman @ Oct. 21 2008,8:22 pm) | | Quote (GlassMan @ Oct. 21 2008,7:59 am) | Acording to the boat trade rags, everyone is downsizing.
Sweden's Volvo Penta has laid off 90 of its 245 employees at the company's engine factory in Vara.
Century Boats to shut down production in November and December. The Florida builder will temporarily lay off 109 workers.
I don't think that the sailboat manufacturers are getting hit as bad as powerboat builders. Fuel prices really hit the power guys hard. |
Eliminator's feeling it as well... Â Anybody need an RV... Â |
It's a domino effect, everybody is feeling it!.. Â |
Exactly, and once they start falling, it's really hard to stop.
"Damn you sure know how to fock things up."-GFR
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GlassMan
Pisces
HDF Silver Supporter
Redondo Crew
Redondo Beach, California, USA
Posts: 5,761
APPD 0.77
Post Rank: 13
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Posted: Oct. 23 2008,9:46 am |
Post # 23 |
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1.03 Billion is a lot of money any way you look at it.....of course, 1.9 is better, but times are tough.
The way I look at it, a few years ago when many peeps were taking equity out of their houses you saw a $hitload of new little runabouts on the river....crashing into each other, getting in your way, towing 6 tubes at a time through a No Wake Zone - that kind of stuff.
Now maybe things will settle down a bit.
It's a fact of Life:
After Monday and Tuesday, even the Calendar says : WTF .......
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| Member # 617 | Joined: 4-29-2004 | |
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Carrera Elite
Libra
HDF Supporter
Glendale,AZ
Posts: 44,127
APPD 5.50
Post Rank: 2
1990 Carrera 23.5 Classic
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Posted: Oct. 23 2008,10:51 am |
Post # 24 |
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| Quote (GlassMan @ Oct. 23 2008,9:46 am) | 1.03 Billion is a lot of money any way you look at it.....of course, 1.9 is better, but times are tough.
The way I look at it, a few years ago when many peeps were taking equity out of their houses you saw a $hitload of new little runabouts on the river....crashing into each other, getting in your way, towing 6 tubes at a time through a No Wake Zone - that kind of stuff.
Now maybe things will settle down a bit. Â |
One Would Could Only Hope!!
Sarcasim, Just one more thing that I offer for free!! I've Reached The Age Where Happy Hour Is A Nap!! WWW.StormPokerRuns.Com |
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