Magicfloat
Charter Member
Good news for Reggie,bad news for creditors. www.tradeonlytoday.com
Headlines
Fountain Re-Organization Plan
- Thread starter Magicfloat
- Start date
Magicfloat
Charter Member
And all the vendors that lost money will be ready to send new product and write off the losses. The same thing will happen with Genmar. I have a lot of debt I don't want.Wonder what my creditors would say if I said I want the Fountain/Genmar plan?After they closed my business and took everything I own including my home,I would be out on the street,broke,and no job.Reggie and Irwin Jacobs will still have their mansions,their cars,and everything else,and still build boats.My daddy had a simple idea,you owe a debt,you pay it,which is what I will do somehow.Sadly,many companies do not.
Wrinkleface
Founding Member
:willy_nilly:
Offshoredrillin
New member
I couldn't agree more, He only fought to protect his income, he has no business being employed as much as the factory employees. Welcome to the democrat bankruptcy plan... "fail, we will pay ya for it"And all the vendors that lost money will be ready to send new product and write off the losses. The same thing will happen with Genmar. I have a lot of debt I don't want.Wonder what my creditors would say if I said I want the Fountain/Genmar plan?After they closed my business and took everything I own including my home,I would be out on the street,broke,and no job.Reggie and Irwin Jacobs will still have their mansions,their cars,and everything else,and still build boats.My daddy had a simple idea,you owe a debt,you pay it,which is what I will do somehow.Sadly,many companies do not.
Offshoredrillin
New member
, bet your bottom dollar there are companies that they owe less than his 260K per year, why not pay them and let the person that ran it into the ground live off his savings?
DAREDEVIL
Banned
Why is everybody jealous about Reggie ???? He made powerboats for over decades and he is alive.............
All of u wish to be a portion of his life he had and has ......
WHY CAN'T U ALL MIND YOUR OWN BUSINESS AND MAKE SOMETHING GOOD FOR THE NATION ?????????
SHOW HIM HOW ITS DONE BEFORE U GO AND BASH HIM !!!!!!!!
WHAT EVER !!!
All of u wish to be a portion of his life he had and has ......
WHY CAN'T U ALL MIND YOUR OWN BUSINESS AND MAKE SOMETHING GOOD FOR THE NATION ?????????
SHOW HIM HOW ITS DONE BEFORE U GO AND BASH HIM !!!!!!!!
WHAT EVER !!!
GENERAL LEE
Founding Member - E Dock
I'm indifferent about Reggie, but I understand he's being paid that, because he's the creator of what they bought..... Those guys don't know chit about his boats compared to him, so they want him around in some capacity to promote and progress the product. He still has huge marketing appeal to them as well. People on this very site go crazy for Reggie when they see him in person....posting pictures & chit, etc 
C'mon, $260-taxes = not that much to average, in comparison to other heads at major boat/marine companies.
C'mon, $260-taxes = not that much to average, in comparison to other heads at major boat/marine companies.
Offshoredrillin
New member
first off, why would I be jealous? I have no envy for a man that cant run a business properly, whom still has his mansion not far from the factory while his employees are laid off because of his poor judgment and greed. do you think his laid off employees are thankful today? do you think the small companies employees that wont get paid because of this action and may have to close are thankful today? there are more than a few of us on here that started our companies from nothing as well, and we did without when times got tough to make the company succeed. Reggie is the boating industry's Ken Lay.
GENERAL LEE said:
correct, it isn't the amount, its principal. I'm pretty sure there is a vendor somewhere that would love to have that amount over the next 3-5 years
Yup...and we were always the LAST ONES TO GET PAID. This economy is tough for me, sold the boat, sold the Corvette, hunkered down...not fun. BUT...all my vendors are paid, my employees are paid, I don't owe one subcontractor a penny, I have no business debt, and if there's anything left over I get it...and it ain't much currently.
Similar threads
