The future of Grand Banks
The whole picture has come together in that Palm Beach was able to see more than they could build and now four models of Palm Beach are being built in the Grand Banks facility. They also take pride that the 60' Grand Banks is being built with materials and methods of Palm Beach.
A couple of board changes made at their annual meeting.
As an overview, I'd say time to publish the obituary of Grand Banks, the boat, as known through their Classic, Heritage, Europa, and Aleutian models over time.
However, it possibly could be the salvation of Grand Banks, the Company, builder of Palm Beach, Eastbay and perhaps something new more like Palm Beach than Grand Banks.
A new regime in charge with the CEO from Palm Beach, a local CFO now, with no boat experience (resignation of long time CFO who also served as interim COO..to pursue other interests) and a career professional in sailmaking on the board. The acquisition of Palm Beach was one company with demand, one with unused production capacity. The quarter ending September 30, they reported income.
Perhaps too it all comes together not to save a brand, but to save the jobs of the Malaysian work force.
This also ties into their dealer termination on Grand Banks, simply because their sales are minimal, not the key to the company and now with the production void taken care of then pursuing more margin by reducing sales commissions may make sense.
So, thinking of Grand Banks, the label, the brand, I have some sadness. However, thinking of the company and the people in Malaysia, there is reason for some optimism. Even if not the direction I might have chosen, it's good to see what was a rudderless company now finding a course.