Soundings Trade Only Magazine

J.D. POWER ON BOATS, ENGINES p. 28-29

®

INSIDE: They’re promoters, lobbyists and educators, among other things. A look at the role of marine trade associations. p. 50

THE BOATING BUSINESS NEWSPAPER VOL. XLIV, NO. ⁹ MARCH 2007

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Brunswick rolls out

broad dealer package

Company says its Advantage assistance

will ease ‘friction’ with its 5,000 retailers

By JoAnn W. Goddard / Associate Editor ^{j.goddard@tradeonlytoday.com}Brunswick Corp. rolled out a sweep- ^Also ^from ^Miamiing package of products and services for its dealers during the Miami International Boat Show in February.

The company says its Dealer Advan-
tage program is the next generation
of dealer/manufacturer agreements. chairman and CEO, in an interview.
The program is intended to help deal- “Once we get past product … distribu-
ers curb expenses and make a profit. tion is the most important element of our
The goal also is to help reduce “fric- success,” said McCoy. “We know dealers
“Skipperr” grreetts earlly arrrriivalls att tthe Miiamii show.. tion” between dealers and manufactur- See Brunswick, Page 39
PHOTO: JOANN W. GODDARD
ers, said Dustan E. McCoy, Brunswick

Larry Smith closure stuns its employees

Struggling 50-year-old business will now be sold to highest bidder

plus

former LSE employees find jobs. She says there is no shortage of companies looking for qualified marine electronics techni- Engines cians. Still, workers will have to wait at least six months until the health insur- _A _Trade _Only _special _reportance kicks in at their new jobs.

There are differing theories as to what led to the LSE shutdown — from internal mismanagement to external competition. Former employees blame the company’s financial problems on poor management from the new owners.

Now, after more than 50 years in business, the company is up for sale to the highest bidder. Michael Moeck-er & Associates, a Florida-based insolvency firm, has been appointed to

See Smith, Page 36

• The state of the industry, p. 34

• Progress with the EPA, p. 37

• A Grow Boating ad blitz, p. 38

By Melanie Winters / Associate Editor m.winters@tradeonlytoday.com

Employees at Larry Smith Electronics knew the company was having financial difficulties, but they didn’t realize how bad the situation was until executives suddenly announced in mid-January that the business was shutting down, effective immediately.

“I was under the impression there was not going to be a total company shut-down,” says Richard Vail, a technician for the Florida-based electronics retailer. “I had heard there was going to be a restructuring. It was pretty shocking.”

LSE executives called a company-wide meeting the morning of Jan. 12. Employees were told to turn in their keys,

cell phones and their company vehicles that morning because the business was closing down.

“It was unexpected, that’s for sure,” says Ken French, who worked for LSE as an audio/visual manager. “The thing that hurts the most is the company is gone and we can’t [get] COBRA against non-existent health insurance, so there’s a gap in health benefits.”

Vail and French, however, were fortunate. They found new jobs at High Seas Technology in Fort Lauderdale within a week or so after LSE shut down. Some 40-plus employees lost their jobs in the shut-down.

Karen Litchfield, president of Marine Search Associates, has been helping other

n Powerplant warranties are getting better. p. 40 n Generator makers take on the carbon monoxide problem. p. 43 n Caterpillar battles a class action lawsuit. p. 45 n Inboards and sterndrives are getting more efficient. p. 56 n Big and bold: 350- and 300-hp 4-stroke outboards. p. 59