Has PSC given up on Ericson?
- Thread starter Annapolis E-27
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PSC files for Chapt 11
Looks like the "other shoe" is finally dropping.
This story just came out --
http://www.thelog.com/news/newsview.asp?c=215751
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Pacific Seacraft Files Chapter 11 Bankruptcy
Thursday, May 31, 2007
ORANGE COUNTY - Pacific Seacraft Corp. filed for Chapter 11 bankruptcy protection at the Bankruptcy Court in Orange County on May 8.
The corporation, led by Alan Poole, is a California-based sailboat manufacturer that specializes in fiberglass monohull cruising boats and has twice been selected as a maker of America's best products by Fortune magazine.
Under Chapter 11 bankruptcy an organization is allowed to stay in business under the close eye of the court, which helps to supervise and reorganize the company's contractual and debt obligations. The court can grant complete or partial relief of the majority of a company's debts.
A hearing date has not been set.
___________________________________
Looks like the "other shoe" is finally dropping.
This story just came out --
http://www.thelog.com/news/newsview.asp?c=215751
___________________________________________
Pacific Seacraft Files Chapter 11 Bankruptcy
Thursday, May 31, 2007
ORANGE COUNTY - Pacific Seacraft Corp. filed for Chapter 11 bankruptcy protection at the Bankruptcy Court in Orange County on May 8.
The corporation, led by Alan Poole, is a California-based sailboat manufacturer that specializes in fiberglass monohull cruising boats and has twice been selected as a maker of America's best products by Fortune magazine.
Under Chapter 11 bankruptcy an organization is allowed to stay in business under the close eye of the court, which helps to supervise and reorganize the company's contractual and debt obligations. The court can grant complete or partial relief of the majority of a company's debts.
A hearing date has not been set.
___________________________________
Well, that's too bad - seems like anyone who makes a good boat ends up going under. I know we had our bumps with them, but that's really a shame...
//sse
//sse
Steve Swann
Member III
Handwriting has been on the wall for quite a while...
If we look at the past few years objectively, we all know PSC really hasn't wanted anything to do with Ericson owners for some time now. Based on their business strategy; lacking any foresight to maintain loyalties or interest in the Ericson fleet - which to me, is syonymous with severing ties with the owners, I have chosen not to patronize their business buying their products. Ignoring our Ericson boats is tantamount to ignoring us as customers. It is a flawed vision to believe that since we own old Ericsons that we can't afford other boats someday moving on, or upgrading, to something newer.
I love this country; we have competitive choices , and lots of 'em - and free choice to go with it. Because of where I live, I wanted a smallish cruising boat of highest quality, maxi-trailerable, and ended up buying a Nor'sea 27. I could have purchased something equivalent from PSC with the Dana 24, however, I did not seriously even consider PSC boats for the aforementioned abandonment reasons. Think about it, who will they abandon next, the Flicka and Orion owners since they no longer build these? What then, is the future for the Dana 24? PSC's track record certainly does not inspire my confidence!
We will be buying something larger and moving aboard in 4 years and will be back in the marketplace again, probably looking at Valiant, Shannon, and (gasp!) an Amel. As purveyors of high-ticket items in a competitive market-driven society, PSC's shortsightedness is truly punishable in a very unforgiving way, by not using our pocketbooks.
Steve Swann
Boise, ID
If we look at the past few years objectively, we all know PSC really hasn't wanted anything to do with Ericson owners for some time now. Based on their business strategy; lacking any foresight to maintain loyalties or interest in the Ericson fleet - which to me, is syonymous with severing ties with the owners, I have chosen not to patronize their business buying their products. Ignoring our Ericson boats is tantamount to ignoring us as customers. It is a flawed vision to believe that since we own old Ericsons that we can't afford other boats someday moving on, or upgrading, to something newer.
I love this country; we have competitive choices , and lots of 'em - and free choice to go with it. Because of where I live, I wanted a smallish cruising boat of highest quality, maxi-trailerable, and ended up buying a Nor'sea 27. I could have purchased something equivalent from PSC with the Dana 24, however, I did not seriously even consider PSC boats for the aforementioned abandonment reasons. Think about it, who will they abandon next, the Flicka and Orion owners since they no longer build these? What then, is the future for the Dana 24? PSC's track record certainly does not inspire my confidence!
We will be buying something larger and moving aboard in 4 years and will be back in the marketplace again, probably looking at Valiant, Shannon, and (gasp!) an Amel. As purveyors of high-ticket items in a competitive market-driven society, PSC's shortsightedness is truly punishable in a very unforgiving way, by not using our pocketbooks.
Steve Swann
Boise, ID
tenders
Innocent Bystander
In fairness to PSC, the original Ericson firm went under long before PSC picked up the pieces and ramped up support again for those few years.
I'm not surprised that it wasn't profitable to support Ericsons.
Boatbuilding, like automobile manufacturing, is a business that greatly benefits from scale. Think Catalina-level scale. Also consider: buyers expect customization, making that scale hard to get, there is a lot of competition out there making very similar products with vastly different labor costs, products made 30 or more years ago are still in the marketplace, demand fluctuates with the economy, and use of the product is virtually zero for half the year in a lot of the country, makes it an EXCEPTIONALLY difficult business. Support is also difficult -- a great deal of the parts game is distribution from other manufacturers who happily sell through lots of overlapping distribution channels, local experts can easily fabricate most parts making inventory difficult to predict, and there are margin-robbing middlemen at every step.
What a lousy business!
I'm not surprised that it wasn't profitable to support Ericsons.
Boatbuilding, like automobile manufacturing, is a business that greatly benefits from scale. Think Catalina-level scale. Also consider: buyers expect customization, making that scale hard to get, there is a lot of competition out there making very similar products with vastly different labor costs, products made 30 or more years ago are still in the marketplace, demand fluctuates with the economy, and use of the product is virtually zero for half the year in a lot of the country, makes it an EXCEPTIONALLY difficult business. Support is also difficult -- a great deal of the parts game is distribution from other manufacturers who happily sell through lots of overlapping distribution channels, local experts can easily fabricate most parts making inventory difficult to predict, and there are margin-robbing middlemen at every step.
What a lousy business!
