Soundings Trade Only Magazine

THE BOATING BUSINESS NEWSPAPER VOL. XLIV, NO. ¹ JULY 2006

DEALERS REACT TO SLIP SHORTAGES P. 24

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INSIDE: It’s a catch- 22 for manufacturers who make environmentally clean products. Retailers won’t stock them because consumers won’t buy them. Consumers won’t know the products exist if they don’t see them on the shelves. P. 58-61

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WEB ON THE WATER

iDockUSA connects the computer by wireless access to a high-speed transmission line that routes the data to and from the Internet. The wireless adapter plugs into a standard port on the computer. Most new laptop computers come with this capability built in. P. 52

For departing Jim Frye,
‘The timing was right’

After 9 years in D.C., the marina industry’s

chief advocate is going back to the water

By Melanie Winters / Associate Editor “After a long m.winters@tradeonlytoday.com search, we couldn’t When Georgia-based Vinings Marine be happier to have Group called on Jim Frye, asking him to someone with Jim’s become its president, Frye was hard caliber of expertise pressed to say no. to take charge of Even if it meant leaving a position that VMG, and help us has gained him respect and recognition grow,” says Peter in the industry. Anzo, a partner of

After nearly nine years as the marine in- Frye Vinings Marine. dustry’s chief advocate with the Associa- Although Frye says tion of Marina Industries, Frye decided to he will miss working in Washington, return to the private sector. He resigned D.C., he looks forward to getting back on as executive director of AMI in late June. the water.

He also called it quits as director of mari- “[D.C. is] an intriguing place,” he says. “I nas and boating access for the National think I’ve learned a lot from my Washing-Marine Manufacturers Association. ton experience. I had an opportunity to

He was to assume his new role as presi- learn other aspects of the marine industry.” dent of Vinings Marine Group June 26. See Frye, Page 42

National City’s sudden pullout surprises industry

With only two days’ notice, the long-time major player quits the marine lending business

By JoAnn W. Goddard / Associate Editor happen, it’s disruptive to our little industry.” lender would process all approvals issued by that time ^{j.goddard@tradeonlytoday.com}Cleveland-based National City had been one of the through the close of business June 23, he said.

The landscape in the marine lending industry has top lenders in the marine industry, with more than 50 “The decision was not made lightly and is certainly changed with the news that National City Corp. is years’ experience in the marine and RV field. difficult to communicate to you as our clients and part-shuttering its indirect retail marine and RV loans “It’s kind of surprising. They’ve been a longtime ners,” Zang said in the letter addressed to marine and through its dealer and service company clients. player,” said Phil Keeter, president of the Marine Re- RV dealers and service companies.

The Cleveland-based bank notified its dealers in late tailers Association of America. “I’m appalled,” said Gregory Krueger, president of May that no new loans would be accepted, effective National City’s spokesman, Bill Eiler, said the bank Jefferson Beach Yacht Sales in Michigan. “Two days immediately. had no comment. notice is a disgusting disgrace.”

“They were a big player,” said Greg Proteau, execu- In a letter dated May 23, senior vice president of Krueger says he has been doing business with the tive director of Boating Writers International and an recreation finance Alan Zang said no new loan applica- bank for years. He first started doing business with expert in marine banking. “I think when these things tions were accepted, effective 9 p.m. May 25. The See National City, Page 34