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VetteLT193
10-10-2011, 07:42 AM
http://www.bymnews.com/news/newsDetails.php?id=93012

We were talking about this at the homecoming run this weekend. Just wanted to share with the board. Looks like Baja is going to be the big name in performance boating :bonk:

I'm not sure what the transfer of ownership means, but maybe it will stay open?

If anyone knows anything more please share!

Carl C
10-10-2011, 08:05 AM
It gets worse :( :http://speedonthewater.com/in-the-news/491-american-marine-holdings-shut-down-production-for-a-couple-of-weeks.html

joseph m. hahnl
10-12-2011, 05:16 PM
No biggie, some one quit. Liberty just wants to go in a different direction,and someone else was offered a pretty Sum to stay on with Liberty.
No doubt they're shutting down to get all the Fountain stuff out:kingme:


Great news!!!!!! Donzi and Fountain are competitors again:biggrin:

Carl C
10-12-2011, 05:40 PM
[ QUOTE]Great news!!!!!! Donzi and Fountain are competitors again:biggrin:[/QUOTE]

And Baja too! Baja by Liberty, Reggie & Sons get Fountain back and Donzi continues on with the new owner! ( :crossfing: )

mattyboy
10-13-2011, 08:54 AM
ok so liberty takes walker, the factory, baja and the fountain service name what ever that is? AMH gets new ownership and is going to build boats where??

Looks like Liberty has decided that there is no Market or there is no more room in the market for high end custom larger go fasts, and has decided not to compete with the likes of Cigarette and OL Skater ,MTI and the likes . they have decided to go with BAJA and take the entry level and price point end of the market. Maybe not a bad plan with this economy with tight lending I would imagine it would be easier to finance a toy under 200k.

The small boat market by me seems to be active maybe not booming, have seen dealers here take on some new inventory not baja but other mfg'rs like stingray , regal, hornet and starcraft. I guess time will tell.

biggiefl
10-13-2011, 02:56 PM
The less new boats sold/made, the more used boats fetch...fine with me as I have 3 I need to sell.

There comes a time when a market gets saturated. Take Harley for instance. 15 years ago and even as little as 5-7 a used bike was worth almost as much as new as nobody wanted to wait, pay markups, etc. Now there are so many Hogs on the market, prices have just plumeted and I don't mean on Sportsters only. Harley will continue to do well due to their own finance company who will loan to Willy Wonka if he is still breathing...who would'nt at 10+% interest? Problem with used bikes and expensive used boats is banks are not lending and home equity lines are seized. Not many have $40k or whatever in their nightstand. Stuff under $15k will still move because people can get loans or max out a credit card cash advance if need be. If you have something people desire or is rare makes it even better....like Classic Donzis.

RickSE
10-13-2011, 05:14 PM
"AMH gets new ownership and is going to build boats where??"


Matty, this is what I was wondering. It sounds like AMH (Donzi & ProLine) are now lacking a manufacturing facility. I wonder if they still own the Sarasota or the old ProLine facilities?

mattyboy
10-14-2011, 08:45 AM
Rick,

the articles are hard to read but it looks like AMH with Donzi and Pro-line are the proverbial man without a nation. I am wondering if Donzi will make it to 50.

Carl C
10-14-2011, 09:08 AM
Donzi Direct is still open. I just ordered some upholstery.

silverghost
10-14-2011, 11:32 AM
As many here may remember~
Earlier this summer I tried to order a new "Custom Donzi 18 " though Donzi Direct & Josh.
Josh always handled the Custom boat builds.

Josh & I spoke on the phone twice and talked basic specifications, colors etc.
Josh stated that he would soon get back to me afyer talking to the folks at AMH Donzi Marine~~~
After about a month I emailed him again about this boat build and he stated that he was still looking into it with the folks at AMH Donzi Marine.
But Donzi WAS interested in this "Custom Project Build"
The Ilmor V-10 Donzi 18 could be built & AMH/Donzi was in fact interested in building it.

Several emails later, over several months, and I never got any word back from the AMH Donzi factory themselves.

It would now appear that there was no interest , or motivation, at the AMH Donzi Marine factory this summer to actually build this "Custom" Donzi 18 ?

Are the old 18 molds in good enough shape to actually build new boats ?

No one, other than Josh / Donzi Direct , at AMH Donzi Marine ever contacted me about this potential custom build project.

Josh through his contacts at AMH /Donzi did say Donzi was really very interested in this Custom build ?

I suspect this is yet another reason, and example why the AMH Donzi Marine brand production is now again shut-down & it's future now again in imbo.

They could have been building this Custom Donzi 18 boat last summer.
I had cash waiting to go for this project.

I guess the folks at AMH Donzi were just not motivated enough.
You have now seen the end results of this lack of motivation & interest in building new Donzi boats.
I suspect other potential new boat orders went un-filled also ?

I am now very glad that AMH/Donzi never asked me for a deposit.
That deposit money would have been long gone~~~ I suspect ?

mattyboy
10-14-2011, 01:28 PM
Sorry silver but your 100k possible build was not going to happen when they are 61 M in the hole.

from bad to worse

http://www.witn.com/home/headlines/COMPLAINT_Fountain_Closed_Down_Owners_Abandoning_B usiness_131855773.html

joseph m. hahnl
10-14-2011, 04:49 PM
Fat cats paying each other, but not there bills.Sounds like the typical big business venture. In the end who do you suppose will be paying the bank for there losses? Does it not sound like criminal alligations are coming down the pipe ?

What a shame, all Reggie wanted to do was build Boats. All I wanted was Donzi to buid boats, that beat the boats that Reggie wanted to make:yes:.

I wonder if I can finance a new ZRC 38 from AMH and skip out on paying it:boggled:

Greg Guimond
10-15-2011, 11:00 AM
Those business's were built on models that are no longer supportable in the new economy. And there won't be any type of change over the ensuing years that will allow them to be made viable. There also won't be an increase in used prices either. The only chance is for the Classic molds to be sold to a small builder that will build "to order" using some of the newer techniques, power, and rigging and appealing to a specific buyer type. The Silverghost type buyer gets his one off build, and the builder makes money.....one at a time.

Here is one example...........

http://www.youtube.com/watch?v=9ItQ8Y_SzDs&feature=share

roadtrip se
10-15-2011, 11:30 AM
SG's "possible build" is really an impossible one. Why? Simple really, you are not putting an Ilmor in an 18, even with a pocket full of cash, as it will not fit, period. I agree though, one missed order does not bankrupt the company. They had been building boats to fill sold orders in the past months.

Greg, your quick write-off of three lines of performance, cruiser, and fish boats ranging from 16-48 feet is quite impressive. Interesting thing is that I have been to several Miami Boat shows over the past few years featuring these kinds of boats under several makes. Dismiss everything but the center consoles made by all three companies, and they would still be in the middle of the hottest segment of the market right now.

It is a sad day for boat enthusiasts...

Greg Guimond
10-15-2011, 12:10 PM
I'm not sure I follow your logic Road. Perhaps the Center Consoles are hanging on but I don't think a "hot segment" exists in todays new boat market.

roadtrip se
10-15-2011, 01:32 PM
So, if I follow your logic Greg, if the economy is down, no one should build a boat over sixteen feet and sell it at the cost to build it?

Greg Guimond
10-15-2011, 04:16 PM
Huh?

You made a comment that on an industry wide basis, the "hottest segment" was the Center Console sub-cat. I disagree whether it is Donzi or others. Is there really a "hot" segment currently in new production boats being built? For Donzi's sake I certainly wish I was wrong.

gcarter
10-15-2011, 05:01 PM
FWIW, I asked Josh about this, he said Donzi's building 35's and 38's, both performance boats, and at their price point, probably profitable. He didn't say how many though.
If you read all this stuff carefully though, it seems the problems seem to circulate around Fountain. Maybe it's unfortunate this marriage took place.
I mean if Liberty had stayed w/just AMH and stayed in Florida, would things have been better for all involved?
Maybe it was a mistake to grab up all those bargains out there......I guess some of those "bargains" have baggage.

Carl C
10-15-2011, 06:07 PM
I'm kind of concerned that Donzi marine could find itself "homeless". :(

Greg Guimond
10-15-2011, 06:32 PM
I'm no expert on the Donzi portfolio overall but I certainly agree that it would be a shame for it to be homeless Carl. Perhaps, similiar to the vineyard business, there will be a white night willing to carve out just Donzi and restructure just that brand. Road seems to think it makes sense to build boats and then sell them at cost so maybe there are others that agree with that approach and have the staying power to wait out the domestic recession or more importantly, relaunch Donzi as a relevant global brand.


According to Lucintel research, In the calendar year 2009, the global pleasure boat market shipment was $18.21 billion. The market is forecast to drop to $18.16 billion in 2010, a marginal drop due to uncertainty and slow recovery in the global economy. The global boat market is expected to grow to $ 27.8 billion by 2015 with a CAGR of 8.9% over the next 5 years (2010-2015), according to this new research from Lucintel. The Europe and Asia Pacific region will provide the future growth for the boat market as sales will be bolstered by continued economic growth in these regions. In the boating industry, there is ongoing shift in product mix toward larger and expensive boats.

OFFSHORE GINGER
10-15-2011, 07:29 PM
Hey guys, ..........everyone is struggling at this point , and to tell you the truth.......word of mouth from people in the industry is ........................ most builders will only see 30% of the market in the future from what it was in the past during its peek ever again .............and you can take that to the bank .

gcarter
10-15-2011, 09:49 PM
I remember back in '90 or so during the "Luxury Tax", there were a number of boat companies were trying to sell boats direct at cost to compensate for the hit.
Anything over $35,000 was the target for this horrible tax that put thousands of workers out the door. That would have definately included many Donzi's.

roadtrip se
10-16-2011, 12:00 PM
Okay Greg, you seem to like to make a habit of taking my posts and twisting the intended meaning. May I make a suggestion? Read my posts literally.

I found your write-off of three major boat brands, as something no one wants, as absurd. As an example, I cited the center console as one of the hottest segments
in the business, something all three of these lines have in their mix, and it is. When was the last time you attended a major boat show, Greg? And I am not talking about the pontoon and aluminum fish boat show held at the local burg, but a major, international show. Miami has been littered with center consoles from the likes of Midnight Express, Intrepid, Edgewater, and several others. Donzi was there last year with a sample of theirs, and Fountain was building a bunch of them over the past few months. These boats start in the six figures, and someone sure is buying, or builders wouldn't keep bringing more of them to the big shows. It is the hottest segment in the market place, period.

My comment about the sixteen footer at cost makes the point, that no one at Liberty and the banks can survive on this. Read the press releases. We are talking about big time obligations. Even when Donzi was building 16s, the money wasn't made there, but on the bigger boats in the line. That tiny boat takes time and resources that can be spent on something much larger and more profitable.

As for making an arguement for the boutique builders, and I mean true custom builders, who build a few high quality examples a year, they are going to charge big time prices for their work. So be careful what you wish for, as you may find yourself thinking an $80,000 16 Classic is a relative bargain in comparison.

EDIT: Greg, I initially reacted to your post 13. Somehow the first line of your post has gone from "Liberty builds boats that nobody wants"... or something like that to
"Those business's were built on models that are no longer supportable in the new economy". Nice after the fact edit. Not only do you twist my words, but you twist your
own when somebody shares a view different from yours. Very nice.

Greg Guimond
10-16-2011, 02:46 PM
Ginger, I hope for all of us that your numbers are wrong.....yikes! Sorry RT, this is just my opinion which you are free to take or leave. I just think that a lot of the financial models these business's were built on just can't be supported any longer. Not trying to make a "thing" here but folks aren't folding left, right and center because the models make sense :frown:

roadtrip se
10-16-2011, 03:19 PM
You don't find me arguing that the volume-based performance sport boat business model is sustainable, Greg. Almost every discretionary purchase industry has taken a hit in this economy, except for the high end. But this is not how your comments started, before you edited it. You more or less stated that Liberty didn't build anything that people wanted now, which opinion or not, is just not true, based on the fact that they were producing boats at the plant.

You are welcome to your opinion, but please don't spice your comments with mine, if you are going to take them out of context almost every time. It is obnoxious. And I will make a "thing" of it, because it is just rude...

joseph m. hahnl
10-16-2011, 03:54 PM
It' seems if they where to dedicate themselves to making 35 and 38. The target market would be racing, where money and sponsors are more abundant then the 1% of individuals that could afford one of those models. Center consoles have better target for individuals, as most people like fishing and quite frankly there is money in fishing also. I agree with George that Capitol bank has it's sites on Fountain. If the RF boat company were to takes off, it would not be a big deal if Fountain died out. I think Reggie has a cult Following of his own,and could probably reclaim his clientèle.

Greg Guimond
10-16-2011, 04:35 PM
[ QUOTE You are welcome to your opinion, but please don't spice your comments with mine, if you are going to take them out of context almost every time. It is obnoxious. And I will make a "thing" of it, because it is just rude...QUOTE]

:confused: My opinions, whether you like them, are neither rude nor obnoxious and I stand by them :yes:

roadtrip se
10-16-2011, 04:43 PM
Whatever, Greg. Having an opinion is one thing, so have at it. Twisting my comments out of context to back up your opinion IS rude and obnoxious, so as I said, just stop doing it.

Greg Guimond
10-16-2011, 05:01 PM
I never did anything remotely close to that RT so not only do I take issue with your harsh language, I expect you to apologize via PM.

OFFSHORE GINGER
10-16-2011, 05:59 PM
Greg - tried to send you a Private message in refrence to your post 24 , and mail box is full ...................O well & no big deal................

gero1
10-16-2011, 06:23 PM
:popcorn::popcorn::popcorn::popcorn:

roadtrip se
10-17-2011, 09:57 AM
Greg, I would be happy to talk to you, but expecting me to send you an apology via PM is not going to happen.

Take my posts out of context and twist their meaning to support your view again, and I can guarentee the same
reaction that has occurred here; a correction and a request to stop it directed at you.

A fairly simple concept, and I hope you get it.

roadtrip se
10-17-2011, 11:09 AM
You make some good points.

In regards to the big performance boats, in addition to racing, there is still money in the poker run circut, too. I just received a magazine from the Florida Powerboat Club, and I was amazed at the number of Donzi 35, 38, and 43's pictured on just about every page.

Agree with you on fishing the center consoles, but they make a pretty decent salt-water entertainment cruiser too, for scuba, snorkle, and just hanging at the
swimming hole. And some are pretty plush, including those made by Donzi. The die-hard fishers don't like the goodies, but you see them everywhere in places like Florida, and as I said earlier, the big shows that support and truly reflect what is going on in the the business.

VetteLT193
10-17-2011, 12:20 PM
Many years ago Cigarette positioned themselves out of the standard production boat company and into a semi-custom boat company. They built less boats for more money each.

Donzi didn't really do this until it was too late. They rode the boom with pretty high end production line boats that are somewhat custom. The problem with moving to a "custom", low production run setup late in the game is the facilities/staff/etc/ they had were too big to support the business model.

As an industry wide rule it seems that the manufacturers that were small during the boom are making it through. There are some major manufacturers that are also making it through (Sea Ray for example) but they also have made some tough decisions along the way to make it happen AND they tend to have a very diverse product line. The other type of manufacturer that is surviving is the price point manufacturer. Think Tahoe and Bayliner.

It seems the worst place for a manufacturer to have been is in the middle. Much more expensive than a price point boat but not really custom. Too big to handle the down turn and not big enough (or carry a diverse enough lineup) to weather the storm.

Greg Guimond
10-17-2011, 05:51 PM
Lot of truth in your last sentence Vette. It would also be interesting to really understand what Donzi's global unit count looked like up to the end. If your "in the middle" and depending on North America.....not so good :( when most of the new wealth is being created elsewhere.

RickSE
10-18-2011, 10:50 AM
The last Dealer Meeting my Dad and I went to was just before things started to unravel and decline. At this point AMH/Donzi appeared to be on a high, due to the hard work that everyone at AMH, Donzi & ProLine had put into the product lines over the last several years. I believe that one effect of this success was that AMH was now in a position to start investing money back into the two boat companies. Business was good, the production ZR's were just coming out and although the racing program was winding down it had been a big marketing success for Donzi. From what I saw, AMH was investing a lot of money back into the facilities, tooling & programs when the industry started to decline. My over-simplified impression is that most of the investments continued as sales declined; the margin went away and although they had good intentions they got caught with their pants down.

gcarter
10-18-2011, 12:05 PM
This is a copy of what Mike posted on the "performance" thread;


Hot off the press from fonzi
copyed from oso..

Fountain Abandoned, Financial Mismanagement A Beaufort County boatbuilder is closed, according to a complaint filed in court.

According to the complaint, filed by a lender this week, the plant in Chocowinity that is the home to Fountain powerboats, Donzi Marine and Pro-Line boats has been abandoned.

The complaint reports that the employees were sent home October 7 with instructions not to return until further notice, and that no one is managing operations.

WITN called the plant Friday morning and was told there was no one available today to speak with us. We were told to call back tomorrow.

The complaint was filed by First Capital. An emergency hearing was held Thursday.

First Capital's complaint is asking the court to enforce its rights as a secured lender of some of the defendants, to the tune of $61.04 million. First Capital also asked the judge to appoint a receiver to preserve the value of its collateral.

The case is being handled by Judge James Gale in Greensboro. Gale is a Special Superior Court Judge for Complex Business Cases.

WITN talked with the court in Greensboro Friday morning. We are told no ruling has yet been made following Thursday's hearing, and that a decision may be announced at the beginning of next week.

Named in the complaint are a myriad of companies that have been involved in the boatbuilding company based in Beaufort County.

Some of the "borrower" defendants, as they are called, include American Marine Holdings, Donzi Marine, AMH Government Services, Pro-Line boats, Fountain Powerboats and others.

Some of the other defendants, identified as "pledgor" defendants, include Liberty Acquisition FPB, Joseph Wortley and others.

We are also working to contact attorneys in the court case, as well as the defendants.

WITN spoke with attorney Randy James of Winston-Salem. James says he represents most of the Fountain defendants named in the complaint.

James said there is clearly a large disagreement with the First Capital folks.

"They are trying to take over ownership of the facility and have made serious allegations," James told WITN.

James said First Capital's actions have made the employees "the victims."

James said while they await the ruling on the Thursday's interim hearing, a full hearing with evidence is a few weeks or even a month away. James claims his clients have not been served and has filed a motion to dismiss based on that assertion.

As WITN reported last week, Liberty Associates announced October 7 that it had stopped providing management services to American Marine Holdings and had transferred its nominee ownership interest to First Capital.

First Capital's complaint alleges that same day, employees at the Chocowinity plant were sent home and that Johnny Walker, the production manager under American Marine Holdings, shut down the plant and resigned.

As of last report, in November 2010, the plant reportedly employed 75 people.

According to the American Marine Holdings website Friday morning, John E. Walker was "appointed president of American Marine Holdings which consists of Pro-Line Boats and Donzi Marine" in 2010.

According to the Liberty Associates website Friday morning, the corporate management includes Joseph Wortley, Bill Gates, Johnny Walker and others.

First Capital claims in its complaint that the defendants have abandoned their business, which is violation of their obligations to First Capital.

First Capital also alleges the defendants defaulted on loan agreements, failed to maintain loan balances within the maximum line of credit amount, violated financial convenants and failed to provide agreed financial and collateral reporting.

First Capital also claims American Marine Holdings, in the first six months of 2011, paid approximately $205,000 to Aimedia Solutions. First Capital claims Aimedia Solutions is controlled by Bill Gates, who as outlined above is involved in Liberty Associates, and that the payment was "purportedly" for management services.

First Capital claims that payment is in violation of their loan agreement with American Marine. The complaint reads "such insider dealings, if allowed to continue, will further dilute FCC's (First Capital's) collateral."

First Capital also claims funds were misappropriated, as were assets. One example given in the complaint is $150,000 from the sale of four boats in February 2011. First Capital claims the defendants never handed over the money as they were obligated to do.

First Capital also claims the borrower defendants received nearly $500,000 from service activities and more than $300,000 from parts sales, and that the borrower defendants failed to give these funds to First Capital as required.

First Capital maintains the borrower defendants are insolvent or in danger of insolvency.

We will continue to monitor the case, and we'll update you on any court ruling as soon as it becomes available.

Reggie Fountain founded Fountain Powerboats over three decades ago and gained a worldwide reputation for the fast, sleek vessels.

The rough economy in recent years took its toll on the boatbuilder and Fountain went into bankruptcy. It emerged under reorganization plans with Liberty Associates taking ownership in 2010. Fountain was retained as president and CEO. That relationship did not work out, and Fountain resigned in December 2010.

"There were differences from the beginning in engineering, manufacturing, the sales, the marketing and the financing of the operation too," Fountain told WITN in December 2010. "I am resigning over a difference of opinion and philosophy with the new owners."

Following Fountain's resignation, Liberty Associates CEO Bill Gates named John Walker as the new President and CEO of Fountain Powerboats.

According to the First Capital complaint filed this week, Reggie Fountain is currently involved in legal action in which he has raised issues related to the acquisition of Fountain by its corporate parents as a result of Fountain's bankruptcy.

In November 2010, Fountain Powerboats reported it would expand and create 411 jobs by adding the two Florida boat lines, Donzi and Pro-Line, to the Chocowinity plant. The company was given a $150,000 grant from the One North Carolina Fund.






OK, so I've thought about this article a lot since I read it first.
What I see here is First Capital trying to get these companies and facilities for nothing.
I would gues, based on nothing more than what we all know, is that they'll probably get it.
Also considering what I posted previously about First Capital and how they operate, if they do walk away w/all of it, the end result will probably end up being something considerably different than what exists now. I wouldn't want to conjecture, but I bet we may not recognise any of it.

BUIZILLA
10-18-2011, 12:14 PM
>What I see here is First Capital trying to get these companies and facilities for nothing.<

if FC got it from the Bankruptcy Court, and they are still a secured creditor, regardless of Liberty's (mis)management opportunity and exit, then FC has every right NOT to pay to get it back again this time around

of course, that's just MY opinion

biggiefl
10-18-2011, 01:29 PM
This happens all the time and will continue. nobody is going to let Donzi or the Fountain name die for literally pennies on the dollar. Some Hedge fund 30 year old will buy it just for bragging rights and "somehow" sell it for a large profit. If somebody bought Hummer from GM, somebody will buy these companies.

gcarter
10-18-2011, 01:34 PM
>What I see here is First Capital trying to get these companies and facilities for nothing.<

if FC got it from the Bankruptcy Court, and they are still a secured creditor, regardless of Liberty's (mis)management opportunity and exit, then FC has every right NOT to pay to get it back again this time around

of course, that's just MY opinion"


Jim, no doubt what you say is true.
I din't make my statement very well.....
Compared to a bank holding a foreclosed home where there's generally no motivation to move it, it seems First Capital is highly motivated to grab this back.
Maybe they have a Asian buyer or something.

Greg Guimond
10-18-2011, 01:55 PM
Interesting. I don't believe that any US based entity will step up, but I could see a foreign player potentially getting involved. They would also have the currency issue potentially adding leverage to there operating economics plus they could make a very strong case to the courts as to there ability to actually get a deal (or steal) done in short order.

biggiefl
10-18-2011, 03:24 PM
Main problem I see is that there are no real engine companies who would buy them for transoms like OMC did back when. There is no interest for Bruswick to buy them to "get" a transom, they already have the transoms no matter who builds the boat. I doubt Volvo gives a hoot. Many foreign companies buy US based boat or engine builders, look at BRP. Heck OMC was a Canadian company back in the 60's.

The Hedgehog
10-18-2011, 08:10 PM
Zilla is basically right. They could buy it without the obligations. The U/S guys and anyone without a secured claim is left holding the bag. It is up to the Trustee at this point. Or Receiver if they appoint one.

BUIZILLA
10-18-2011, 08:27 PM
the boat building conglomerate(s) is going through the same calamity that golf courses did 20+ years ago, American owned mega courses couldn't make money and were foreclosed or bankrupt... the Jap's love golfing and bought/took over hundreds of courses... I have never seen one of those go under yet, if the passion is there, then the will to make money, market a hobby, and survive is there

Greg Guimond
10-18-2011, 08:57 PM
Good point. The Japanese also have a very long term outlook. They could care a less about Q-to-Q results.

biggiefl
10-20-2011, 01:41 PM
Yeah...look at the Nikkei, it was 25,000 back in 1990.

FISHIN SUCKS
10-24-2011, 08:29 PM
[ QUOTE=$originalposter]{$pagetext}[/QUOTE]

A friend of mine that owns a local marina (Nautique, Bennington, Chapparel, Hobie, Harris) said that the only thing selling this summer were Nautiques (60-100k range) and pontoons. I/O's were dead in the water (pun intended i guess). the majority of these sales were also people that own a lake house (2nd home). The family buyers just looking to buy a runabout to trailer back and forth to the lake were way down and virtually non existent.

OFFSHORE GINGER
10-25-2011, 09:25 AM
A local Boat Co here in Holland Mich S-2 YACHTS / TIARA , has learned to be more diverse because of Mich's Failing economy and lack of orders . http://www.hollandsentinel.com/homepage/x438808122/S2-Yachts-Energetx-moving-is-ahead-building-yachts-for-Netherlands-firm & http://www.hollandsentinel.com/breaking/x1610518689/Gov-Granholm-in-Holland-to-celebrate-job-growth-with-Energetx

zzzzzz
10-25-2011, 10:33 AM
I ordered some stuff from donzi direct and heve not gotten anything yet. Should I assume they are gone too???

VetteLT193
10-25-2011, 12:13 PM
[ QUOTE=$originalposter]{$pagetext}[/QUOTE]

Contact DonziJosh ; I think that's his deal... I'm surprised you haven't heard from him as he seems on top of things.

mattyboy
10-27-2011, 08:11 AM
looks like there might be a light at the end of the tunnel, or it could be an oncoming freight train :eek:

http://www.powerboatmag.com/baja-donzi-fountain-receiver-seeks-restructure.html

VetteLT193
10-27-2011, 08:57 AM
And the strange thing is that Baja is now lumped in. This is like trying to read a bad romance novel.

DonziJosh
10-27-2011, 11:13 AM
It's been a busy week as the Ft Lauderdale Boat Show kicks off today, but we're shipping parts daily. If you've got a question concerning an order, call us at 888.441.1614 and we'll bring you up to date.


Josh