Headlines everywhere…. boating industry is losing ground.
It seems there has been an abundance of press lately on the downturn of the boating industry in these global troubled economic times. Friends are sending me links daily to reports they are seeing on general interest outlets. The mystery behind the big money yachting companies has always been a source of interest to my friends who work in other sectors, but now they are seeing that the percentages of loss have been massive for some of the most successful and profitable builders we have seen in the past decade. Sportsfishing giant, Viking Yachts last week reported its final round of layoffs – 540 out of a New Gretna, NJ workforce of 1400. 40 percent is a big number for a small town. Maybe it’s because of tax season, or possibly because of the highly publicized seizing of Madoff’s 2m yacht in Florida and subsequent repossession of his larger $7m yacht in the French Riviera. It could just be that mainstream media wanted a new story beside the demise of the US auto industry in Detroit and the nationwide housing crisis. CNBC covered the growing inventory in a boat repossession company in South Florida last night. Watch below.
Here at Yacht.com, we know it is important to boaters to know what is going on with their associated organizations, manufacturers and dealerships. We have the function to pull news relating to all of these things and deliver it in a concise format right in your news tab. We know that getting your boating news in one place will simplify things. In the meantime, here are some links of articles I have been following. We want to stay informed, no matter what the headlines are – and we know you do to. Feel free to send me comments, links or articles.
Viking Yacht cuts nearly 600 jobs Forbes Magazine / Associated Press. April 10, 2009
Anxiety Is Up as Orders Fall at Boatyards New York Times. April 3, 2009
Stormy Seas for Europe’s Luxury Yacht Makers Business Week. April 10, 2009
