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It is a good company with good products. Appears it did have poor managers who will hopefully get terminated in the re-shuffle. Erase the current equity, sell off the distributors, get a proper level of debt via a re-structure and you have a good company again.
Not great for the employees who don't what will happen next and have to wait until next year for a solution. Hope they stay - I have an E120W system being installed
This is what I was expecting to hear happening. Extend the loans, restructure, and make it profitable again.
The new products would help a lot. But I wonder how much of an impact all this talk about their money troubles is going to have on sales.
It is a good company with good products. Appears it did have poor managers who will hopefully get terminated in the re-shuffle. Erase the current equity, sell off the distributors, get a proper level of debt via a re-structure and you have a good company again.
Not great for the employees who don't what will happen next and have to wait until next year for a solution. Hope they stay - I have an E120W system being installed
It's been my observation that the people most responsible for the demise of a company are the ones most likely to remain after restructuring. It's a perverse set of decisions, but those iin charge are retained in order to provide stability and expertise to the emerging company.
If they do go, it's typically with a pre-funded parachute, outside of the reach of other creditors. Typically a trust will be set up and funded long before an executive leaves. That guarantees them their contracted comp even if the company folds. Deferred comp is more and more common these days.
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Terry Jason 35, Yanmar 370 hp, Lots of fun at a leisurely pace
All these talks / articles is the WORST thin gfor the company. Most people will not buy the brand knowing it's having issues. So this just complictes it.
Location: Monmouth County, NJ / Ft. Lauderdale, FL
Posts: 908
This is unfortunate.
Either way, this is not a good state for the company. Distracted or potentially disenfranchised employees are never a good recipe for quality or customer service. The best people may bail. The UK is a very agressive talent market and poaching of top resources is the norm. Only time will tell.
I always liked Raymarine, but I am somehow glad I just went with Garmin 5212's in my new Contender.
All these talks / articles is the WORST thin gfor the company. Most people will not buy the brand knowing it's having issues. So this just complictes it.
that is what I was getting at in my previous post. Garmin stands to gain business from this just by the fact that people will hesitate to buy Raymarine now.
I do think it will survive though, if it goes bankrupt, the debt is eliminated and whatever the assets are sold for will be what the debtors get, probably pennies on the dollar, and the new owner will have a company and a good name cheap with no debt.
Which could be a very good deal as long as they don't lose all the talent in the process.
Lady's Travels: From Minnesota on Lake Superior to Nassau, to Charleston, SC., to Key West, Fl. & Return.
Charleston to Windsor, Ontario Canada
Now exploring the Great Lakes...
I'm not afaraid of buying Raymarine equipment. The probably have the most recognized brand in marine leisure electronics, they have an enourmous base of equipment installed. They have introduced a large number of impressive products the last few months. If they go bankrupt someone will of course pick up the company and continue the operation in one way or another.
If they go bankrupt someone will of course pick up the company and continue the operation in one way or another.
With Raymarine's current debt levels there's no incentive for a trade sale. Furuno have managed to weather the GFC because of their diverse products range that caters for many different uses (commercial, high seas, etc), Garmin has land mobile, ICN etc and there's no ways Navico can deal with another brand. Rewind two years and if given the choice Navico would have preferred to purchased Raymarine instead of Northstar/Navman/Simrad Yachting. There's no doubt but that is a missed opportunity.
Raymarine are in dire straights not becasue of the amount of money they borrowed to run a business primarily servicing the high-end leaiser industry...something that the GFC killed but rather lack of sales in the down turn! The question is...can they get extended funding and if so will they last until the market returns to days of yester-year with higher sales and good returns? I'm not sure they can hold out that long and now with much increased competition from Garmin, Simrad and Furuno there is little to seperate Raymarine from the bulk of these competitors so the margins become squeezed even further.
If Garmin did pick them up then Garmin's marine division would benefit from a good worldwide service and dealer network, something Garmin doea not have! Not to mention all the OEM business, again something that Garmin does not have but and area where Raymarine enjoys the bulk of the market share.
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If Garmin did pick them up then Garmin's marine division would benefit from a good worldwide service and dealer network, something Garmin doea not have! Not to mention all the OEM business, again something that Garmin does not have but and area where Raymarine enjoys the bulk of the market share.[/quote]
I agree 100%. Garmin has a long way to go in the marine market but seem to be catching up quickly. They can't give good help on the TR1 and I can only imagine their how badly their service for G and E series would be if they were to take pick up Raymarine and shun their dealers. It would be better for all of us if they are able to reorganize.
Rewind two years and if given the choice Navico would have preferred to purchased Raymarine instead of Northstar/Navman/Simrad Yachting. There's no doubt but that is a missed opportunity.
There was no Navico before buying Simrad Yachting. The Scandinavian private equity Altor bought Simrad Yachting (including 40% of Lowrance) from the Kongsberg Group in Septemeber 2005, half a year later they bought the rest of Lowrance and changed name from Simrad to Navico which was the name of a UK autopilot company bought by Simrad several years earlier.
There was no Navico before buying Simrad Yachting. The Scandinavian private equity Altor bought Simrad Yachting (including 40% of Lowrance) from the Kongsberg Group in Septemeber 2005, half a year later they bought the rest of Lowrance and changed name from Simrad to Navico which was the name of a UK autopilot company bought by Simrad several years earlier.
well maybe they would not have purchased Navman/Northstar from Brusnwick New Technologies if they knew that Raymarine would be a prime takeover target? Raymarine has more to offer than Northstar/Navman put together
