Boat Tree IPO would enable founder to turn employees into part-owners
Article Abstract:
The Boat Tree's planned initial public offering of 2.18 million common shares of stock is an opportunity for employees to become part-owners of the Orlando, FL-based marine dealer, CEO Joe Pozo stated. The public offering will not only mean financing growth for the company, but also boost employee compensation packages with stock-option programs. Pozo has been credited for successfully transforming the $2 million Regal dealership into a two-state operation with 1998 gross sales projected at $33 million. Pozo, however, attributes the success to Boat Tree's employee management. The company spends significant amount of money to train workers in sales and customer service. Compensation for most of the firm's 120 workers is connected with productivity and sales.
Comment:
Its planned IPO of 2.18 mil common stock is an opportunity for employees to become part-owners of firm, says CEO Joe Pozo
Publication Name: Soundings Trade Only
Subject: Construction and materials industries
ISSN: 0194-8369
Year: 1998
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No real surprises in 6-month statistics
Article Abstract:
Data released by Statistical Surveys showed mixed results in the new boat market during the first six months of 1998. There was only a 0.5% increase in second-quarter sales of 14-foot-and-up pleasure boats, while year-to- date sales of 73,323 units showed a mere 0.3% increase. Sales of personal watercraft dropped by 20%, while cumulative sales of 49,993 units represent a 31.4 decline. There was also a 6% decline in the sales of aluminum boats during 2nd qtr 1998 and sales were down by 3.1% for the first six months of 1998.
Publication Name: Soundings Trade Only
Subject: Construction and materials industries
ISSN: 0194-8369
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
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