Over the years, I have known a lot of second and third generation dealers in the boat business. But I recently realized that three aftermarket distributors I have known for years are third and fourth generation in the industry. All were started with an entrepreneurial spirit. And all three are doing well despite the economic mess we have been going through. How are they doing this? After talking with all three, I concluded they have survived and done well by working harder and smarter. Here are some brief stories about these three. … [ READ MORE of this article and comment ]
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Last week I got an e-mail from a good, long-time, Midwest dealer whom I have known for years. He was very disturbed and rightly so. He wrote, “Mr. Sherwood, I, like most all other marine dealers across the nation, have struggled to get through some very difficult times in our industry. Due to excessive rates from some of the commercial floor plan companies, we have paid all of them off and have been able to set up a line of credit with our local bank. This has worked fine up to now, but our line has been unsecured and to get an extension or increase to get us through the winter, the bank wants some collateral. I certainly understand this and do not have a problem with it. The problem is when our bank does a UCC search on our business there are seven different companies that have filed liens on all inventory or equipment or both. We do not owe any of them! But the liens have not been released.” … [ READ MORE of this article and comment ]
Pilots are granted by law a tremendous latitude in a flying emergency to try and save their aircraft and all aboard. That used to be the case on the waters, too. I fear that we may be letting that slip away. … [ READ MORE of this article and comment ] |
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Earlier in my life, I did a lot of business flying in small planes. The joke about flying being hours of boredom punctuated by moments of sheer terror can be alarmingly close to the truth. I lost a good friend and fellow pilot last week to an aircraft accident. He managed to save all his passengers with truly superior airmanship. His two engines quit one following the other shortly after takeoff. He touched down initially on a pond in a subdivision, because that was the best shot he had – maneuvering to miss a house with a family inside in the process. His son and co-pilot said he never uttered another word after the engines began deserting him. He just used his skills and knowledge in his few remaining moments to make a difficult best of a really bad situation. I would like to think I would have done as well, but I wouldn’t want to bet on it.
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