Geico Sues SBI

[Ted]

We realize this is a hot topic right now and are doing our best to not moderate it, since everyone deserves to have their say. Please remember we have rules against personal attacks and falsehoods and keep this thread civil. This incident is best looked at in the larger context of the sport and will NOT be settled by anyone on this board. Carry on.

 

[phragle]

What the hell.. I might as well throw my 2 cents in.

While this is 'newsworthy' amongst our group, The matter is between 2 parties. Nothing anyone can say or post will effect the matter in any way. The eventual outcome may be of interest, but since no one has any influence, maybe we should let them battle this out in private out of respect for what each has contributed to the sport over the years.

 

[LaughingCat]

Phragle,

I found the video of you verbalizing your last post. :sifone:

 

[ItsPeanut]

I have made plans to hit sarasota and clearwater. Is it to early to tell if Geico will be their??

 

[phragle]

I believe they stated they will do 8 OPA races this year.

 

[SHARKEY-IMAGES]

I have made plans to hit sarasota and clearwater. Is it to early to tell if Geico will be their??

Hear it for yourself:



I do not think Scott could have been more clearer on his message....:cheers2:

 

[mdkeywest]

..

 

[MarylandMark]

Jeff told Scotty B that JBS plans on being in St.Clair.

 

[phragle]

We can only hope they follow the cameras... 3 turbine boats in St Claire would be awesome. 3 wide..200 mph downstream on the back stretch....

 

[mdkeywest]

..

 

[Ms PatriYacht]

The fact is, GEICO is saying 'enough' to the years of “gimmicks” and fraud cast upon the racers. I believe TEAM GEICO is standing up for all the racers as they have done in the past. I understand there are many gimmicks that have been promised to the racers, many of whom have given financial support, only to see the promises evaporate and replaced by the next gimmick. Geico is standing up for all racers to give everyone a better operating and racing environment.

I am a huge fan of the Geico Race Team and agree with a lot of this statement, but Geico, the Insurance Company is not doing this to get better races or venues or to take over the Key West Worlds. They are doing this strictly for business reasons, to reach potential customers, and to make $$. Geico the company, not Geico the race org. is probably the largest and most sophisticated marketing company to get involved with this sport at their level. It seems like you can't watch an hour of prime time TV without seeing one of their commercials. This amount of advertising costs millions and I imagine $150,000.00 is a drop in the bucket, however what they really lost is a year of reaching TV viewers which they will never get back, and this is hard to put a $$ figure on. We know the warm and fuzzy side of Geico; Mark, Scotty, Mikey, the pretty girls in bikinis, and the larger than life hospitality at the races. But behind all that is a large corporation with a powerhouse of attorneys, accountants, sales analysts, and marketing teams that don't play the same way that has been norm in the offshore circuit. In a way I feel sorry for JC and his wife, I think they were way in over their heads and if I was them, I would be doing anything I could to raise funds to get Geico to settle.

Going forward this should be a good thing for racing (optimistically I am thinking glass half full), however keep in mind that by the sheer magnitude of Geico's size that even if all race groups were to join together it could be a case of the tail wagging the dog.

 

[Jesse James]

I am a huge fan of the Geico Race Team and agree with a lot of this statement, but Geico, the Insurance Company is not doing this to get better races or venues or to take over the Key West Worlds. They are doing this strictly for business reasons, to reach potential customers, and to make $$. Geico the company, not Geico the race org. is probably the largest and most sophisticated marketing company to get involved with this sport at their level. It seems like you can't watch an hour of prime time TV without seeing one of their commercials. This amount of advertising costs millions and I imagine $150,000.00 is a drop in the bucket, however what they really lost is a year of reaching TV viewers which they will never get back, and this is hard to put a $$ figure on. We know the warm and fuzzy side of Geico; Mark, Scotty, Mikey, the pretty girls in bikinis, and the larger than life hospitality at the races. But behind all that is a large corporation with a powerhouse of attorneys, accountants, sales analysts, and marketing teams that don't play the same way that has been norm in the offshore circuit. In a way I feel sorry for JC and his wife, I think they were way in over their heads and if I was them, I would be doing anything I could to raise funds to get Geico to settle.

Going forward this should be a good thing for racing (optimistically I am thinking glass half full), however keep in mind that by the sheer magnitude of Geico's size that even if all race groups were to join together it could be a case of the tail wagging the dog.[/QUOTE]



Very well put I agree 100%

 

[PatriYacht]

This would seem to be an open and shut case in Geico's favor. But add in the cost of a few high powered corperate attorneys filing a few motions at their usual hourly rate, the cost th JC will go up in a hurry. I agree with Donna, JC better hurry and find a way to settle.

 

[Geronimo36]

This would seem to be an open and shut case in Geico's favor. But add in the cost of a few high powered corperate attorneys filing a few motions at their usual hourly rate, the cost th JC will go up in a hurry. I agree with Donna, JC better hurry and find a way to settle.

No doubt....and I'm sure Geico has their attorneys who are either on staff or on retainer so it doesn't cost them anything more.

 

[Ms PatriYacht]

As an outside observer who is not privy to behind the scenes negotiations I find it interesting and perhaps a bit odd that a boat sponsor has taken on a lot of the responsibility that usually falls to the race organization or the race promoter. How do you all feel about that?

 

[SHARKEY-IMAGES]

As an outside observer who is not privy to behind the scenes negotiations I find it interesting and perhaps a bit odd that a boat sponsor has taken on a lot of the responsibility that usually falls to the race organization or the race promoter. How do you all feel about that?

One of the reason's I don't place my Logo on every race boat out there. "Liability" I can't take that kind of liability should something go bad.
Unless someone can show me another way where I can protect my family and our assets, I just as well let my pics advertise for me....:cheers2:

 

[MarylandMark]

One of the reason's I don't place my Logo on every race boat out there. "Liability" I can't take that kind of liability should something go bad.
Unless someone can show me another way where I can protect my family and our assets, I just as well let my pics advertise for me....:cheers2:

I've been wondering this as well. Like could SOS be liable if some one had a SOS decal on their boat and "some thing went wrong"?

 

[Wrinkleface]

Phragle,

I found the video of you verbalizing your last post. :sifone:

Give ya credit 4 the try Phrag!!!!:biggrinjester:

 

[Wrinkleface]

I've been wondering this as well. Like could SOS be liable if some one had a SOS decal on their boat and "some thing went wrong"?

unfortunately MM, seems like attorneys can twist just about anything!!!!! It's always somebody elses fault!!:willy_nilly:

 

[cigdaze]

Not commenting directly with regard to the original subject matter, rather to the subsequent what-ifs, we all just need to remember that in this fine system of ours anyone can sue anyone for just about anything - even if someone claims that a sticker sunk a boat. Winning a suit is another story. Let's let this play out as it may and keep the conjecture at a minimum.