www.iFourWinns.com

May of the small parts have manufacturer warranty's of 1 year. 2 years is Four Winns.

But yes, I'm sure the suppliers get to handle most of that stuff.


I'm 'in the game', but so far, batting 1000. Bring it.

_________________

2008 318 Vista -SOLD, but I am still around!
All Night Long, Seattle WA

Hot off the press:

Most Genmar Brands Sold To Platinum Equity - 01/13/2010
Reprinted from the Minneapolis Star-Tribune website--

A California private equity firm emerged as the winning bidder Friday for most of the assets of Genmar Holdings Inc., the Minnesota-based boat builder that entered bankruptcy in June.

Platinum Equity was the winning bidder at $70 million for most of the assets of the company -- including the Ranger, Glastron and Four Winns boat brands -- that had been led by Minneapolis businessman Irwin Jacobs.

But Jacobs isn't expected to fade into the background in the boat industry.

The rest is at the beow link:
http://www.boattest.com/Resources/view_ ... ewsID=3961

_________________


PANACEA
2007 V288
Twin VP 5.0GXi/Sx
5K Kohler

I hope not, but the brand doesn't do anything on it's own. It will do, or not do, based on the decisions of it's owners, given many variables, all centered around his/their long-term financial goals - which may or may not be what we would all like to think they are.

_________________


Mike
2005 Four Winns 230/240
VP 5.7GXi/DP
1998 F-150 XLT
Boat Pic

That is a "late to the party", cold off the press, re-print/ summary of what was posted a couple of days ago on page 9 of this thread. Not anything new.

The hearing was today, and as of this writing, the results have not been revealed. I suspect in an hour or two it will be.

_________________
One of 4 Previous (Sold) Boats:
2000 Four Winns 268 Vista

Current Boat: 2004 Chaparral 235 ssi cuddy

cougar, I hope your right. I'm just not willing to break out the pom-poms for a company that has changed hands so often and will likely do so again by the time I'll be willing to leap up in boat.

One thing I like is stable management. Someone looking for a shorter term flip isn't looking for building loyalty. They want to reduce costs and overhead and wait for the market to come back and sell.

Platinum bought on the cheap in a lousy economy. The questions is where on the next crest of the wave do they jump off the ship.

As far as my previous post, that is hardly opinion. I'd say it's good advice. Anyone planning to buy a FWs should wait to sign until after the auction sale to Platinum is done so you don't have to guess what may or may not happen.

_________________
2003 Four Winns Horizon 220 5.0 GXi/SX

I totally disagree with your 'good advice'. But it is good to have balanced opinions on the board.

From my perspective

The entire leadership team at Four Winns is still in place. They have brought back staff and ramped up production (not to the highest levels). Having met the CEO and lead designer personally - I have 100% faith in their skills, abilities, and dedication to the brand and it's customers.

Warranty work is getting done, things are getting back up to speed -- and if they pull Glastron into Cadillac, that factory will be running on all cylinders.

If anything right now, I'd say Four Winns is a fantastic buy.

FYI - have you seen Sea Ray's numbers? Or Brunswick for that matter? Their production/layoffs have been very significant. I bet you'd say they would be a better option? Or Chaparral (who won't even let you talk to anyone at the factory). Who, in your opinion, would be a better option for purchase? Crownline! HA! (kidding of course)

FW is stable. I'd buy in a minute -- oh wait, 2 new boats in 2 years. I have been.

Join the party and upgrade!!!

_________________

2008 318 Vista -SOLD, but I am still around!
All Night Long, Seattle WA

Preparing for my daugther to go to college. According to the Federal Government who prints money at the speed of light, they think I am loaded (I'm not).

I'm already socking away money as this is gonna hurt. Bigger boat is not even a gleam in my eye at this point.

_________________
2003 Four Winns Horizon 220 5.0 GXi/SX

The latest and final results of the hearing yesterday, as of 10:37 P.M. last night.


Some additional info in a copy of the above article here.

I love the amount of lawyers that attended yesterday, that's some big $'s

_________________
One of 4 Previous (Sold) Boats:
2000 Four Winns 268 Vista

Current Boat: 2004 Chaparral 235 ssi cuddy

_________________
Previously:
2008 V358/Volvo 5.7 GXi Inboards

some more stuff today

Edited content due to the following post. Unaware of dated material. My aplogies.

_________________
Michael Bova


"Swept Aweigh"
2003 Four Winns 328 Vista

Previous Boat
2003 Crownline 230CCR

Actually, the article is from last week news. If you look back a page or two, you will see that the creditors were NOT "feeling pretty positively about the outcome".
Unsecured creditors want Genmar auction results thrown out
http://www.tradeonlytoday.com/home/5018 ... thrown-out
And it says a hearing is scheduled for yesterday. Which it was, and is now complete.

Aparently some of the links posted previously were not read by everyone. So I will refrain from linking the following article that has been released today, 1/14/10. Instead I will cut and paste the whole thing.

- - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -

The US District Court Judge overseeing the Genmar bankruptcy case yesterday upheld the results of the auction, despite objections from the Committee of Unsecured Creditors and one of the bidding parties. According to a source inside the courtroom, Judge Dennis D O'Brien orally approved the auction sale results.

Platinum Equity gained most Genmar assets with a bid of US$70.5m, including the Four Winns, Ranger, Triumph, Seaswirl, Champion, Stratos, FinCraft, Larson, Wellcraft, and Glastron brands. J&D acquired Marquis and Carver and the production facilities in Pulaski, Wisconsin, for US$6.5m. MCBC Hydra, an affiliate of MasterCraft Boats, acquired Hydra Sports for US$1m.

The Committee of Unsecured Creditors and GYA, which bid for Carver and Marquis, both objected to the results of the auction. The Committee said in court filings that, under the prevailing bids, they would receive no compensation. GYA argued that its bid of US$6.05m was better for the creditors than the prevailing bid by J&D LLC, owned by former Genmar Chairman Irwin Jacobs.

O'Brien has not released a formal order on the Court's website, and Genmar's Chief Restructuring Officer Mark Sheffert did not return calls yesterday about the court hearing.

The auction process is scheduled to conclude next Wednesday and the deals must be complete by then to be valid. Jacobs told IBI on Friday that he intends to buy the Larson and Triumph brands as well as VEC technology from Platinum Equity after the assets sale is complete. But yesterday he sounded less certain, only saying that he was "cautiously optimistic" he would end up with Larson, Triumph and VEC.

MasterCraft Boats said in a statement that it would be moving all production of Hydra-Sports to its facilities in Vonore, Tennessee. "As the first luxury inboard company to acknowledge the value of the saltwater market, we have actually had our eye on Hydra-Sports for quite some time," said John Dorton, MasterCraft CEO and president in the statement. "Scott Wood, MasterCaft's VP of Design and Engineering, will head up the future D&E work for Hydra-Sports with the help of his very competent design staff." Wood previously designed boats for Boston Whaler and Hinckley.

Dorton said Hydra-Sports would retain "key staff," but would use workers in Vonore to build the 19-strong line of saltwater fishing boats. He said it would retain its "tested and true" dealer network.



(14 January 2010)

_________________
One of 4 Previous (Sold) Boats:
2000 Four Winns 268 Vista

Current Boat: 2004 Chaparral 235 ssi cuddy

I can only base my comments on what gets posted. A generalized "hate for corporations" or "the government" makes little sense without explanations. This may not be the place for a discussion about it.

Suffice to say various players in the economic game have done a great job of pissing off the general public. Each with their own set of "justifications" for their actions. There's an old saying "The operation was a success, but the patient died". Sure, various parts might work but the overall condition of the economy has certainly hovered near it's deathbed lately.

_________________
-Bill Kearney, 2005 348 Vista

We will have to wait until next week Friday to close out this bitch of a thread.

From The Cadillac News this morning:


Irv's "new" company is now called Marquis Yachts LLC, and will make both Carver and Marquis brands in Wisconsin. Workers are being called back next week (about 200) to produce new boats by April of this year.

_________________
One of 4 Previous (Sold) Boats:
2000 Four Winns 268 Vista

Current Boat: 2004 Chaparral 235 ssi cuddy

Mr. Jacobs has been busy this week, his newly formed company will acquire the Larson, Seaswirl and FinCraft boat brands along with the Larson Boat Factory in Little Falls, Minnesota. J&P will also acquire VEC technology as well as its equipment, patents and copyrights.

The acqusition also includes Triumph Boat Company and its facility in Durham, North Carolina. The Seaswirl Boat factory in Culver, Oregon as well as the Windsor Craft assets were included in the deal.

News on Four Winns and the other brands, as well as the fate of Glastron will surface shortly.

_________________
One of 4 Previous (Sold) Boats:
2000 Four Winns 268 Vista

Current Boat: 2004 Chaparral 235 ssi cuddy

The deal closed this morning.

Its Official: New Owner For Four Winns

Tuesday, February 02, 2010 at 9:44 a.m.

CADILLAC -- A popular boat manufacturer in Wexford County has a new owner.

Four Winns officials confirmed Tuesday, that Platinum Equity’s acquisition of the Cadillac company has been completed. The transaction, which was approved by the U.S. Bankruptcy Court for the District of Minnesota on January 13, 2010, also gave Platinum Equity ownership of several other leading boat brands previously under the Genmar umbrella.

"We are thrilled with this outcome and are excited about the opportunity that Platinum’s ownership presents for our employees, dealers, suppliers and other business partners," said Four Winns President Jeff Olson.

Olson and the management team at Four Winns felt comfortable with Platinum from the very first meeting. "It was clear to us that the group had done their research and saw Four Winns as a true leader of the recreational boating industry," said Mr. Olson. "Over the past few months, our team has developed a close working relationship with the Platinum organization. We have gained significant respect for their commitment to our business and their goal of being successful in our industry."

"The marine industry has enormous potential, and we’re very excited to be part of it," said Louis Samson, the principal at Platinum leading the investment. "We are excited about Four Winns’ position as a leading provider of recreational boats and we are very optimistic about the brand’s growth potential with its strong dealer network, comprehensive product line and innovative culture."

"Our goal is to bring out the best in each company we acquire by giving them the tools and operational support they need to be successful," said Mr. Samson. "We also recognize the importance of personal relationships in this business and we look forward to working closely with dealers and other business partners to create a successful enterprise in which everyone can share."

Mr. Samson also emphasized that managing a seamless transition is a top priority. "Four Winns has extremely loyal customers and we respect their dedication to the brand. We are intensely focused right now on delivering operational stability and maintaining a high level of customer service during this transition and beyond," Mr. Samson added.

_________________
Previously:
2008 V358/Volvo 5.7 GXi Inboards