Thread: GB question..
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Old 10-18-2015, 08:15 PM   #10
BandB
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City: Fort Lauderdale
Country: USA
Join Date: Jan 2014
Posts: 17,492
Quote:
Originally Posted by bnoft View Post
I understand that GB had discussed an exclusive arrangement with a SE FL dealer. This was after the acquisition of Palm Beach. This dealer apparently had no use for the Palm Beach guy now running GB. .
GB has discussed nearly every possible set up over the last two years. Just look at the press releases on their own website. 2013 they are all announcements of new dealer agreements. 2014, they're announcing the Palm Beach acquisition and making Richards CEO, they're announcing the addition of the Aleutian 55 and announcing the deal with NW explorations. 2015, they're announcing customer direct.

The part they don't include is setting up their own offices in several areas and then transferring those offices to other dealers as they did in Seattle. I'm amazed there's no news of litigation by dealers or former dealers.

I find it hilarious that they haven't put anything about the new GB 60 on their website, but it's on Bluewater's site (of course, Bluewater no longer a dealer) and Power and Motoryacht has it.

10 days until they're board meeting. They've already announced two board members leaving their positions and one joining (another sail boat racer like Richards...I wonder if anyone's told them they don't sell sail boats and these person's names mean nothing to a GB buyer outside of Australia). Don't automatically assume their board meeting will be boring. Not many years ago Livingston, who was the CEO and largest shareholder, presented a deal for the sale of the company (at more than value then and far more than value now). His deal was rejected and he was terminated. He was booted off the board as well, subsequently fought his way back on and then off again.

Oh, they're also getting permission to issue more stock. This is a move they've used before when things were going badly and they anticipated the need for more investment.

How, in the midst of all this, certain people remain arrogant and steadfast amazes me. A year ago I know people who would have been interested in purchasing the company. Today, I can't imagine anyone who would be. Only have Eastbay and Palm Beach and they basically duplicate each other.
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