OMC bankruptcy problems 'snowballing' for dealers

Article Abstract:

Outboard Marine Corp's (OMC) bankruptcy worries dealers because of unresolved issues concerning floorplan, rebate and warranty. Some of the dealers warn that they may follow OMC into bankruptcy if these issues are not resolved immediately. Waukegan, IL-based OMC, which is the No 2 boat and engine manufacturer in the US, on Dec 22, 2000 filed for Chapter 11 bankruptcy protection and has been operating on a barebones basis under the authority of the US Bankruptcy Court for Northern Illinois.

Outboard Marine Corp.

---

ABYC program expands with engine certification

Article Abstract:

The next phase of the American Boat and Yacht Council's Marine Technician Certification Program will involve engine certification classes which will start in fall 2000 at the Marine Mechanics Institute in Orlando, FL. The enrollment will be limited to 20 students to optimize participation. The program will be divided into two courses, namely, a gasoline engine course and a diesel engine course, but both will integrate all the support systems of an engine.

Public affairs

---

Cigarette wins fight to avoid bankruptcy

Article Abstract:

Cigarette Racing Team Inc has rebuffed efforts of some of its creditors to put it into involuntary bankruptcy. Kelley Drye and Warren LLP, Exale Enterprises and Alchemy Holdings Inc have petitioned the Florida Southern Bankruptcy Court to place the company under Chapter 11 which would force it to reorganize. The petition, which included an emergency motion to appoint a trustee, was dismissed due to Cigarette's motion.

Cigarette Racing Team Inc.

Similar abstracts:

• Abstracts: Marine finance industry experiencing 'a reunion'. Genmar expands aluminum operations. CIT acquisition of Newcourt still in works
• Abstracts: Dock squeeze angers ICW homeowners. Yamaha tops J.D. Power's first engine survey. Manufacturer offers to aid manatee advocates
• Abstracts: Mighty Mississippi shortens marinas' season. What mom-and-pops do that a Boat Depot can't. Rules of thumb not science, but they're tested by time
• Abstracts: Jury will decide franchise issue. Rampage boats to be built in N.C. Charleston 'has what it takes'
• Abstracts: Now is the time to act on MACT. Dealer contract guides: so near but yet so far.... Lawmakers extend freeze on CAFE standards

This website is not affiliated with document authors or copyright owners. This page is provided for informational purposes only. Unintentional errors are possible.