Quote:
Originally Posted by robmac
Sig,you seem to have the inside track. Can you tell us anything?
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- The owners of PBM have very strong, long-standing reputations/relationships with key individuals in the boating industry. This stems from their prior history and involvement in off-shore powerboat racing.
- They have very skilled mechanics and already service several Formula Boats from the marina across the bay. (Along with many other boat brands.)
- Lake Port Landing was visited by Formula Representatives and a discussion took place regarding the future of their partnership.
- These same representatives visited PBM, subsequent to those discussions, and a new relationship/partnership was formed.
- PBM will be stationed in the Formula Exhibit at the New England Boat Show.
- It is obvious that there will be a transition period for Lake-Port Landing. They are still carrying inventory which they need to sell. A customer calling into Formula is not going to get "the behind the scenes" business dealings of what is happening with their dealership network. Especially when the prior dealership relationship still has inventory to sell.
- Formula is also not going to risk the quality of their brand, coming out of the frying pan (Lakeport Landing) and into a fire if they did not have confidence that PBM could represent and service their product effectively.
These are business decisions. They are made carefully and planned out accordingly. Certainly if they are not lucrative for both parties, there will be more changes. That is the way it goes. I would expect that the situation with the previous dealership will evolve as the inventory they are carrying is depleted.
That is all I have for now.