Moody's downgrades Brunswick Corp
Article Abstract:
Brunswick Corp.'s announcement that it would take a $60 million charge against earnings to cover restructuring of operations, has earned it a much lower rating from Moody's Investors Service. Moody's has downgraded its ratings on the marine engine and power boat builder from stable to negative. The financial services firm stated its worries over Brunswick's increased debt load stemming from recent debt-financed purchases and an expedite stock-repurchase program. Meanwhile, Brunswick's restructuring is designed to reduce costs and offset troubles caused by the financial crisis in Asia. The move centers on the firm's bowling operations, which covers 80% of the charge.
Comment:
Downgrades ratings on Brunswick Corp to negative after latter announced a $60 mil charge against earnings to cover restructuring
Publication Name: Soundings Trade Only
Subject: Construction and materials industries
ISSN: 0194-8369
Year: 1998
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Maverick, Hewes back 300-angler 'shootout'
Article Abstract:
The Maverick Boat Co. and Hewes Mfg. in Fort Pierce, FL, will sponsor a shallow-water fishing tournament, dubbed "shootout" on Aug. 21-22 in Islamorada, FL. The open division grand prize winner will get a new 17-foot Pathfinder, with a Yamaha 50-hp outboard and a ShoreLand'r boat trailer. The recreational division grand prize winner will receive a new 15-foot Pathfinder with a Yamaha 25-hp outboard, with a ShoreLand'r boat trailer. About 300 participants in 100 boats are expected to join the tournament.
Comment:
Will sponsor a shallow-water fishing tournament, dubbed "shootout" on Aug. 21-22 in Islamorada, FL
Publication Name: Soundings Trade Only
Subject: Construction and materials industries
ISSN: 0194-8369
Year: 1998
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Little Harbor cuts WhisperJet prices
Article Abstract:
Little Harbor Custom Yachts, a Portsmouth, RI-based boat builder, has announced that it will reduce prices of its WhisperJet Models 34, 38 and 40 by as much as 7%. For instance, the Extended Cabin WhisperJet 38's price will drop from $524,323 to $458,508, a savings of $65,815. The price roll back is a result of the company's successful strategies for lowering overhead and material costs.
Publication Name: Soundings Trade Only
Subject: Construction and materials industries
ISSN: 0194-8369
Year: 2000
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