Global Marine Purchases Checkmate Marine!

[tweeter225]

Anyone else see this press release yet?

http://hustlerpowerboats.wordpress....ne-power-acquires-assets-of-checkmate-marine/

 

[nathan]

 

[jumbofordman]

How could they keep Doug Smith as a spokesman for Checkmate after screwing so many people?? The only way that could happen would be for Doug to make good on all the money and product that people are owed...

Note the release quite specifically states they bought the assets of Checkmate Marine - that means they didn't take on the liabilities (i.e. what is owed people.)

 

[sb5239]

I will try to call them Monday to see if they can still do interior packages

 

[Jetmate]

Note the release quite specifically states they bought the assets of Checkmate Marine - that means they didn't take on the liabilities (i.e. what is owed people.)

Yea I caught that right away. Of course they are not going to say they picked up Checkmate's debt and liabilities. That would be bad publicity. However the liabilities are handled,,, it will be done as quietly as possible, including presenting Doug in a positive light.

 

[hotdaddy27]

Global Marine surely aquired Checkmate's ASSets...

HD

 

[jumbofordman]

Yea I caught that right away. Of course they are not going to say they picked up Checkmate's debt and liabilities. That would be bad publicity. However the liabilities are handled,,, it will be done as quietly as possible, including presenting Doug in a positive light.

Normally, the proceeds from the sale would be used to eliminate as much of the liabilities as possible, then the company would dissolve with no assets and whatever liabilities remaining would be left holding a worthless piece of paper.

 

[riverside]

Hustler & Checkmate

I have a 2010 2400 BRX that has some stress cracks in the gelcoat where the rear seat bulkhead curves into the sides of the boat on the inside corners. I figured I would call Checkmate and see what they say. I called and was connected to someone at Hustler. I told her my problem and she gave me an email address to send some pictures to and said that she would forward it to the appropriate individual/owner.

To make a long story short, Joe at Hustler called me back and told me that they were indeed purchasing the assets of Checkmate (which was to be final sometime this week) but were not assuming any of the liabilities including warranties etc. He was very pleasant and told me if I could get my boat up to the Hustler plant in NY they would repair the problem at cost and it would take a few days.

Since I don't have a trailer I don't know how practical it is for me to get my boat up to the Hustler plant on Long Island but I do appreciate his offer to fix it at cost and think it was really pretty nice of him considering the situation. However, I think by the time I had someone trailer it to Long Island and back I could probably just have it repaired locally. Not sure what I am going to do but I thought you might be interested.

 

[keith4216]

What happens to all the new boats sitting on dealer lots? Do the dealers give some type of warrenty or loss their butts on trying to get them unloaded?

 

[ajexpress]

What happens to all the new boats sitting on dealer lots? Do the dealers give some type of warrenty or loss their butts on trying to get them unloaded?

My guess is that's a liability. If the dealer wants to sell with a warranty maybe Hustler works out a fee for warranty. At least that might help dealers sell off existing inventory while not alienating dealers. But who knows.

 

[Jason-89-Maxxum]

They are open again, just got a voice mail from Kip returning my call I placed back in the spring.

Jason