OPTIMISM PREVAILS AT MAATS p. 10

®

INSIDE: Despite the costs in a difficult economy, advocates of industry certification say it pays dividends for dealers. p. 16

THE BOATING BUSINESS NEWSPAPER VOL. XLVI, NO. 3 SEPTEMBER 2008

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www.tradeonlytoday.com

Bankrupt Fla. marina

goes to chief creditor

New River property ends up in foreclosure

after Fort Lauderdale auction results voided

By Lisa Hoogerwerf Knapp

property of Alex Nichols, principal of 84 Marina LLC and the primary secured creditor. Nichols is owed $13.3 million by the defunct marina,

No buyer emerged, and on Aug. 15 the court declared Nichols the owner.

Nichols and other unsecured creditors had pushed for the bankruptcy auction when the marina’s owners, Mary and Bob Wickman, became delinquent in repaying investors.

An aerial view of the

Nichols said is not interested in owning the property long term; he just wanted to recoup his investment. He previ-

New River Marina

ously owned Crow’s Nest Marina in

Oceanside, N.Y., but he is now retired

continued on Page 44

Industry using CSI to build buyer loyalty

Most say emphasis on satisfaction is more critical today than ever

By Gary Beckett David Parker, owner of Parker Business Planning in Orlando, put it more succinctly.

plus

“Loyalty is about how many customers you have who are in love with Finance & Insurance your dealership and your people,” he said. “Loyalty is a whole level higher _A _Trade _Only _special _reportthan mere satisfaction.”

In fact, Parker said, simply measuring customer satisfaction isn’t enough if you’re not looking closely at the loyalty issue, which looks at more than whether current customers are coming back to the business.

“Loyalty asks if they are bringing their

continued on Page 40

When the auction hammer came down, confirming Allied Richard Bertram Marine Group’s July 17 purchase of bankrupt New River Marina for $13.4 million, everyone thought the deal was in the bag. But what looked like a sure thing turned into a nightmare for everyone involved, as the botched auction’s results were nullified July 21 in U.S. Bankruptcy Court, Southern District of Florida, because of an objection to procedure during the auction.

The court said that if another buyer did not appear by Aug. 15, the Fort Lauderdale marina would become the

Recreational marine manufacturers, distributors and dealers remain committed to improving customer service, while marketing and advertising budgets are being cut to the bone and staffing is being reduced to near subsistence levels.

The reason, say the experts, is simple. Satisfied customers remain loyal. And especially during difficult times, businesses need a core base of repeat customers to drive the business and simply help them survive.

“As an informal and diagnostic tool,

CSI is a window into the customer’s mind, and can provide significant insight into a customer’s intent with regard to loyalty, retention and defection,” said Dr. John Dillard, of AVALA Marketing Group in Fenton, Mo., in a recently released white paper titled “CSI in Tough Times: An Expenditure to Cut or Not?”

“Customers satisfied with the right things are much more likely to repurchase or to be retained as owners, while dissatisfied customers are much more likely to defect. Defection represents a direct impact to you, specifically lost revenue.”

Helping out ‘friends’

It’s election season, and the industry is doling out money to candidates who support marine interests. p. 49

n In an effort to avoid an early 1990s-type dealer bankruptcy crisis, marine lenders are offering help with inventory control and floorplan management. p. 21

n The “crazy” economy has given rise to an unprecedented increase in boat loan fraud — some of it very difficult to detect. “It’s pretty scary how sophisticated this is,” says one marine banker. p. 24