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Topic: Brunswick, stocks< Next Oldest | Next Newest >
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Post Icon Posted: Oct. 20 2008,3:43 pm Post # 1 see this member send this member a private message  quote this post in reply
CHICAGO — Shares of embattled boatmaker Brunswick Corp. sank to a 25-year intraday low Monday after Moody’s Investor Services cut the manufacturer’s debt ratings to junk status. Knoxville is home to the company’s marine division.

Moody’s senior credit officer Kevin Cassidy said the agency’s review of the company will continue, despite the downgrade of Brunswick’s unsecured notes, commercial paper, corporate family rating and probability of default rating.

“The downgrade reflects our concerns that the continuing turmoil in the financial markets will result in a significant contraction in discretionary consumer spending over the foreseeable future and may put pressure on the company’s dealer network and its liquidity position,” Cassidy said in a statement. “While Moody’s believes that Brunswick will continue to attempt to protect its credit metrics and liquidity, we are concerned about the company’s reduced financial flexibility as its ability to comply with a financial covenant is uncertain.”

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Post Icon Posted: Oct. 20 2008,7:15 pm Post # 2 see this member send this member a private message  quote this post in reply
Quote (WATERDOG @ Oct. 20 2008,3:43 pm)
CHICAGO — Shares of embattled boatmaker Brunswick Corp. sank to a 25-year intraday low Monday after Moody’s Investor Services cut the manufacturer’s debt ratings to junk status. Knoxville is home to the company’s marine division.

Moody’s senior credit officer Kevin Cassidy said the agency’s review of the company will continue, despite the downgrade of Brunswick’s unsecured notes, commercial paper, corporate family rating and probability of default rating.

“The downgrade reflects our concerns that the continuing turmoil in the financial markets will result in a significant contraction in discretionary consumer spending over the foreseeable future and may put pressure on the company’s dealer network and its liquidity position,” Cassidy said in a statement. “While Moody’s believes that Brunswick will continue to attempt to protect its credit metrics and liquidity, we are concerned about the company’s reduced financial flexibility as its ability to comply with a financial covenant is uncertain.”

That Seems To Be More Of A Trend Right Now.... :eek  :eek

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Post Icon Posted: Oct. 21 2008,6:00 am Post # 3 see this member send this member a private message  quote this post in reply
Quote (Carrera Elite @ Oct. 20 2008,7:15 pm)
Quote (WATERDOG @ Oct. 20 2008,3:43 pm)
CHICAGO — Shares of embattled boatmaker Brunswick Corp. sank to a 25-year intraday low Monday after Moody’s Investor Services cut the manufacturer’s debt ratings to junk status. Knoxville is home to the company’s marine division.

Moody’s senior credit officer Kevin Cassidy said the agency’s review of the company will continue, despite the downgrade of Brunswick’s unsecured notes, commercial paper, corporate family rating and probability of default rating.

“The downgrade reflects our concerns that the continuing turmoil in the financial markets will result in a significant contraction in discretionary consumer spending over the foreseeable future and may put pressure on the company’s dealer network and its liquidity position,” Cassidy said in a statement. “While Moody’s believes that Brunswick will continue to attempt to protect its credit metrics and liquidity, we are concerned about the company’s reduced financial flexibility as its ability to comply with a financial covenant is uncertain.”

That Seems To Be More Of A Trend Right Now.... :eek  :eek

Yep sure is!.. :(
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Post Icon Posted: Oct. 21 2008,7:59 am Post # 4 see this member send this member a private message  quote this post in reply
Acording to the boat trade rags, everyone is downsizing.

Sweden's Volvo Penta has laid off 90 of its 245 employees at the company's engine factory in Vara.

Century Boats to shut down production in November and December. The Florida builder will temporarily lay off 109 workers.

I don't think that the sailboat manufacturers are getting hit as bad as powerboat builders. Fuel prices really hit the power guys hard. :(

It's a fact of Life:

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Post Icon Posted: Oct. 21 2008,8:06 am Post # 5 see this member send this member a private message  quote this post in reply
And it's gonna get worse before it gets better!.. :(
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Post Icon Posted: Oct. 21 2008,8:24 am Post # 6 see this member send this member a private message  quote this post in reply
You AZ guys didn't mention that Tempe Marine just closed after 30 years.
Cheetah has closed their doors and moved the molds over to Domin8ter. Shop for both company's is about the same size as my garage.

"Damn you sure know how to fock things up."-GFR
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Post Icon Posted: Oct. 21 2008,8:29 am Post # 7 see this member send this member a private message  quote this post in reply
Quote (WATERDOG @ Oct. 21 2008,8:24 am)
You AZ guys didn't mention that Tempe Marine just closed after 30 years.

Didn't know it until you mentioned it!. :D
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Post Icon Posted: Oct. 21 2008,4:35 pm Post # 8 see this member send this member a private message  quote this post in reply
You Didn't Meantion This One Either....

AZ Discout Marine

Edited by Carrera Elite on Oct. 21 2008,4:36 pm

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Post Icon Posted: Oct. 21 2008,5:23 pm Post # 9 see this member send this member a private message  quote this post in reply
Quote (Carrera Elite @ Oct. 21 2008,4:35 pm)
You Didn't Meantion This One Either....

AZ Discout Marine

That's old news.

"Damn you sure know how to fock things up."-GFR
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Post Icon Posted: Oct. 21 2008,8:22 pm Post # 10 see this member send this member a private message  quote this post in reply
Quote (GlassMan @ Oct. 21 2008,7:59 am)
Acording to the boat trade rags, everyone is downsizing.

Sweden's Volvo Penta has laid off 90 of its 245 employees at the company's engine factory in Vara.

Century Boats to shut down production in November and December. The Florida builder will temporarily lay off 109 workers.

I don't think that the sailboat manufacturers are getting hit as bad as powerboat builders. Fuel prices really hit the power guys hard. :(

Eliminator's feeling it as well... :beat   Anybody need an RV... :stupid  :laugh
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Post Icon Posted: Oct. 21 2008,9:38 pm Post # 11 see this member send this member a private message  quote this post in reply
I don't see Coleman Canoe downsizing... hmmmm.....

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Post Icon Posted: Oct. 21 2008,9:42 pm Post # 12 see this member send this member a private message  quote this post in reply
Quote (WATERDOG @ Oct. 21 2008,8:24 am)
You AZ guys didn't mention that Tempe Marine just closed after 30 years.
Cheetah has closed their doors and moved the molds over to Domin8ter. Shop for both company's is about the same size as my garage.

WOW!!!  I did not know Tempe Marine closed. They were not far from me. I have not heard of Monster. Their even closer than Tempe was. I will have to check them out one day on the way home from work.
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Post Icon Posted: Oct. 22 2008,6:01 am Post # 13 see this member send this member a private message  quote this post in reply
Quote (shueman @ Oct. 21 2008,8:22 pm)
Quote (GlassMan @ Oct. 21 2008,7:59 am)
Acording to the boat trade rags, everyone is downsizing.

Sweden's Volvo Penta has laid off 90 of its 245 employees at the company's engine factory in Vara.

Century Boats to shut down production in November and December. The Florida builder will temporarily lay off 109 workers.

I don't think that the sailboat manufacturers are getting hit as bad as powerboat builders. Fuel prices really hit the power guys hard. :(

Eliminator's feeling it as well... :beat   Anybody need an RV... :stupid  :laugh

It's a domino effect, everybody is feeling it!..  :eek
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Post Icon Posted: Oct. 22 2008,6:11 am Post # 14 see this member send this member a private message  quote this post in reply
How F*@king  depressing!! :rolleyes

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Post Icon Posted: Oct. 22 2008,6:13 am Post # 15 see this member send this member a private message  quote this post in reply
It sure is!.. :(
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Post Icon Posted: Oct. 22 2008,8:08 am Post # 16 see this member send this member a private message  quote this post in reply
Quote (GoFastRacer @ Oct. 22 2008,6:01 am)
Quote (shueman @ Oct. 21 2008,8:22 pm)
Quote (GlassMan @ Oct. 21 2008,7:59 am)
Acording to the boat trade rags, everyone is downsizing.

Sweden's Volvo Penta has laid off 90 of its 245 employees at the company's engine factory in Vara.

Century Boats to shut down production in November and December. The Florida builder will temporarily lay off 109 workers.

I don't think that the sailboat manufacturers are getting hit as bad as powerboat builders. Fuel prices really hit the power guys hard. :(

Eliminator's feeling it as well... :beat   Anybody need an RV... :stupid  :laugh

It's a domino effect, everybody is feeling it!..  :eek

Exactly, and once they start falling, it's really hard to stop.

"Damn you sure know how to fock things up."-GFR
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Post Icon Posted: Oct. 22 2008,8:10 am Post # 17 see this member send this member a private message  quote this post in reply
Quote (HemiDude @ Oct. 21 2008,9:38 pm)
I don't see Coleman Canoe downsizing... hmmmm.....

My Coleman is worth double what I paid for it. :good

"Damn you sure know how to fock things up."-GFR
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Post Icon Posted: Oct. 22 2008,12:15 pm Post # 18 see this member send this member a private message  quote this post in reply
Hmm.... I could Take The Engine Out Of Mine And Add A Couple Of Oars.......

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Post Icon Posted: Oct. 22 2008,1:32 pm Post # 19 see this member send this member a private message  quote this post in reply
Quote (Carrera Elite @ Oct. 22 2008,12:15 pm)
Hmm.... I could Take The Engine Out Of Mine And Add A Couple Of Oars.......

Didn't know you were looking to go faster. :peace

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Post Icon Posted: Oct. 22 2008,2:32 pm Post # 20 see this member send this member a private message  quote this post in reply
Quote (WATERDOG @ Oct. 22 2008,1:32 pm)
Quote (Carrera Elite @ Oct. 22 2008,12:15 pm)
Hmm.... I could Take The Engine Out Of Mine And Add A Couple Of Oars.......

Didn't know you were looking to go faster. :peace

:laugh You're Probably On To Something!! :rotflmao  :laugh

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Post Icon Posted: Oct. 23 2008,8:34 am Post # 21 see this member send this member a private message  quote this post in reply
And now....the other shoe drops...... :eek

Brunswick reports net loss of US$591 million


Brunswick Corp. today reported net sales of US$1.03 billion for its quarter ended September 27, 2008, a 22 per cent decline compared to the same period a year ago. The company reported a net loss of US$591.4 million compared to net earnings of US$1.9 million a year ago. The company said in a statement that its marine sales were off by 28 percent in the quarter.

:cry

It's a fact of Life:

After Monday and Tuesday, even the Calendar says : WTF .......
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Post Icon Posted: Oct. 23 2008,9:05 am Post # 22 see this member send this member a private message  quote this post in reply
Quote (GlassMan @ Oct. 23 2008,8:34 am)
And now....the other shoe drops...... :eek

Brunswick reports net loss of US$591 million


Brunswick Corp. today reported net sales of US$1.03 billion for its quarter ended September 27, 2008, a 22 per cent decline compared to the same period a year ago. The company reported a net loss of US$591.4 million compared to net earnings of US$1.9 million a year ago. The company said in a statement that its marine sales were off by 28 percent in the quarter.

:cry

Marine sales down 28%. That acually doesn't sound all that bad. Seems like most that talk about it are down by far more.

"Damn you sure know how to fock things up."-GFR
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Post Icon Posted: Oct. 23 2008,9:46 am Post # 23 see this member send this member a private message  quote this post in reply
1.03 Billion is a lot of money any way you look at it.....of course, 1.9 is better, but times are tough.

The way I look at it, a few years ago when many peeps were taking equity out of their houses you saw a $hitload of new little runabouts on the river....crashing into each other, getting in your way, towing 6 tubes at a time through a No Wake Zone - that kind of stuff.

Now maybe things will settle down a bit.  :stupid

It's a fact of Life:

After Monday and Tuesday, even the Calendar says : WTF .......
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Post Icon Posted: Oct. 23 2008,10:51 am Post # 24 see this member send this member a private message  quote this post in reply
Quote (GlassMan @ Oct. 23 2008,9:46 am)
1.03 Billion is a lot of money any way you look at it.....of course, 1.9 is better, but times are tough.

The way I look at it, a few years ago when many peeps were taking equity out of their houses you saw a $hitload of new little runabouts on the river....crashing into each other, getting in your way, towing 6 tubes at a time through a No Wake Zone - that kind of stuff.

Now maybe things will settle down a bit.  :stupid

One Would Could Only Hope!! :D

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Post Icon Posted: Oct. 23 2008,11:01 am Post # 25 see this member send this member a private message  quote this post in reply
Quote (GlassMan @ Oct. 23 2008,8:34 am)
And now....the other shoe drops...... :eek

Brunswick reports net loss of US$591 million


Brunswick Corp. today reported net sales of US$1.03 billion for its quarter ended September 27, 2008, a 22 per cent decline compared to the same period a year ago. The company reported a net loss of US$591.4 million compared to net earnings of US$1.9 million a year ago. The company said in a statement that its marine sales were off by 28 percent in the quarter.

:cry

How do you think this will affect the High Performance division, and R & D....... :stupid

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26 replies since Oct. 20 2008,3:43 pm < Next Oldest | Next Newest >

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