More details on Fountain-Baja

[Magicfloat]

www.tradeonlytoday.com I am not a finance expert,but it looks like Brunswick just gave Baja to Reggie,in return for only buying Merc engines,which is all he buys anyway. Somebody smarter than me explain who won and who lost in this deal.

 

[Dreamer]

fountain by baja






bahahahaha

 

[Sea-Dated]

Fahahaha

 

[Bad Idea Baja]

Hell, who cares, I got me a brand new Baja by Fountain flag at the Lauderdale boat show. It will go next to the Baja flag I got & that is all I care about. My POS Baja is 10 years old & I don't see me buying another one anytime soon so by then it may be Fountain by Hundai.

 

[inbetween]

Fountain by Hundai.

:rofl::rofl::rofl::rofl::rofl:

 

[nauti1]

Hell, who cares, I got me a brand new Baja by Fountain flag at the Lauderdale boat show. It will go next to the Baja flag I got & that is all I care about. My POS Baja is 10 years old & I don't see me buying another one anytime soon so by then it may be Fountain by Hundai.

thats funny:biggrinjester::lurk5:

 

[Chris]

Brunswick already owned Baja. Baja basically became next to worthless thru Searay's mis-management. Brunswick could have attempted to sell or liquidate the Baja brand and assets and gotten a pocket full of nickles and jeopardized an outlet for their power packages. Reggie had the resources and the space to allow the brand to continue and have his company pick up some unit volume and some state-sponsored financial incentives in the process. I don't really see an alternative opportunity for Brunswick to do something with Baja, let alone a better one than what they did.

 

[db71]

The question I have is is this type of deal illegal by sec standards basically they screwed there shareholders in my opinion they could of sold the complete existing business with facility to someone as a complete company and made anybody sign a guarantee to buy there engines.
He cut a bunch of models so actually it would not be as many engine/drive units as before so not only are they not going to sell as many engines as they would with being seperate they didn't get any money from the assets and they are still sitting on a big building in Ohio unless they leased it then they have a lease buyout and other expenses related to closing shop.

And all of this was passed on to the shareholders when I'm sure a better deal could have been gotten. Heck I would have given them a 6 million dollar loan to be forgiven after selling x amount of engines and made there balance sheet look a little better.

But I have learned from this deal and have my bid in on Chevrolet for them to sell it to me on a loan but I will buy my parts from GM and finance my cars through GMAC Then they will forgive my loan in 10 years. It is only a 1 million dollar loan so if they file bankruptcy I would just pay it.

I personally think it was an underhanded back door deal and I could of and would of easily put together a deal to buy baja for 2 million in actual cash money.

 

[Trim'd Up]

Give it a little time. YOu may still get your oppurtunity when reggie goes broke.:lurk5:

 

[db71]

Yeah but now it is different and in my opinion not worth nearly as much. Before they had a facility and and employees that where loyal and actual business. now they have there molds stored at fountain.

 

[captdave]

i think the SEC is taking a closer look at this. That is probably why the
article came out in trade only. I knew from the begining it was an inside
deal to try and bail out Baja. Sea Ray screwed up, and that is a shame.
I was an old Baja dealer when Doug Smith owned the company and we
sold a lot of boats.