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My Barker Cat BOONDOGGLE

Old 02-01-2019, 06:11 AM
  #101  
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Originally Posted by haneyrm View Post
Why were these threads deleted?
I believe they were deleted because the OP stated that Barker was out of business and that statement was false.

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Old 02-01-2019, 06:20 AM
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Originally Posted by vecuronium View Post
i have no skin in this either way...but i did a google search of yellowfin vs barker and in the first few sentences of the first page that came up was....."While he was insured against lawsuits, Barker said attorney’s fees topped $250,000. And it was the timing of the suit that hurt the most." Hhhhhmmmm.........
I hope for OP's sake that insurance policy is still in effect. Sounds like the ponzi scheme has crumbled to the ground. In attorney speak it is called commingling of funds. Big no no for attorneys and will result in sanctions, license suspension or termination depending on the facts. Seems like it is a bad idea for other businesses as well.
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Old 02-01-2019, 07:02 AM
  #103  
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In. Thanks for the chance!!!
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Old 02-01-2019, 07:08 AM
  #104  
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I feel like the prior threads about Barker going out of business were correctly deleted because it seemed so preposterous and untrue that someone with a good product, charging that much, and a wait list would be bankrupt but now this has surfaced there is some merit to the other threads.
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Old 02-01-2019, 07:12 AM
  #105  
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In my experience insurance usually provides for counsel and covers that expense, assuming of course the insured is not found to be negligent in their actions, so I am not quite sure I understand why legal fees would be his problem.
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Old 02-01-2019, 07:27 AM
  #106  
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So does this mean the barker cat isn't going to be at the MIBS?
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Old 02-01-2019, 07:34 AM
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Sorry to hear for both sides of this issue. Good on the op to inform everyone.
It seems obvious the previous litigation would handicap Barker quite a bit. I think I remember a countersuit in the works.

Just spit balling but is it likely Barker eventually gets the wind back in his sails? Crappy situation for the OP but maybe there's someone willing to "buy" his slot for a certain percentage and forgo the legal fees? Granted it is a risk for anyone but if it finally is built it will be a an easy $650 K boat for $450 (or less).
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Old 02-01-2019, 08:15 AM
  #108  
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Originally Posted by Muggin Mullet View Post
Eh, Im not sure on this one tbh. A thread was deleted in record time last night just for asking for Barker was belly up. And you already have someone above putting the idea out there for the mods.

PS- It would be amazing if THT gave us some sort of credits earned from likes or contributing that we could gamble on days like this
A bit different than a factual complaint filed in a civil court. One is dangerous rumor mongering, the other a civil dispute.
Originally Posted by kgearhart View Post
Did Barker ever get a 26 out of the door profitably? I just don't see how you charge 200 large for a 26 foot boat and not stack cash left and right. The "lesser tier" builders sell the same style boat, with similar materials and cost structure, for a 1/3rd of what Barker charges. How could this company do anything but rake in 50 grand in cash for every boat that rolled out the door?
Don't confuse profitability with sound management. Also, he could be making money and accepting more work than he can handle.
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Old 02-01-2019, 08:43 AM
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Originally Posted by kgearhart View Post


Cayo needs to make sure they hire someone who can do real cost accounting and implement scalable processes to support that costing (i.e. audible financial controls).
Why would he want financial controls that he can hear? If you are going to post a snotty response, you should at least proofread it so you don't look as imcompetent (yes, that was done on purpose) as you are accusing someone else to be. Just saying.
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Old 02-01-2019, 08:49 AM
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Originally Posted by JDBer94 View Post
I believe they were deleted because the OP stated that Barker was out of business and that statement was false.
The one I read did not do this. It asked whether Barker was closed, and while that is potentially damaging in itself, it is easily answered with "no." I was in the process of posting in the thread something along the lines of, "how can a question be false?" and the thread got deleted before I could finish that sentence.


Funny enough, I still have a "like" from a mod for a separate comment on that now nonexistent thread.
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Old 02-01-2019, 08:50 AM
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And here I thought "BOONDOGGLE" was going to be the name of the boat...
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Old 02-01-2019, 08:53 AM
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I don’t think I would have filed suit. I woulda posted in Classifieds:
For sale: 2 - Barker 40 Catamarans 450k (for both)
Currently in production but still time to pick your color and options. Trust me it’s a steal
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Old 02-01-2019, 09:06 AM
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Originally Posted by Jongeherin View Post
So does this mean the barker cat isn't going to be at the MIBS?
As of the 2019 Exhibitor list says they are, things do change though.


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Old 02-01-2019, 09:10 AM
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Originally Posted by Kidzdent View Post
So I quess I shouldn’t go on there website and push the “build your Barker” icon...
Can you imagine how fast the resell is on the few existing boats they made is dropping?
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Old 02-01-2019, 09:11 AM
  #115  
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Im just curious (not bashing) why anyone would put such a large deposit down on such a thing? Is this normal?
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Old 02-01-2019, 09:15 AM
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Originally Posted by Blazer7420 View Post
As of the 2019 Exhibitor list says they are, things do change though.

All I know is it costs at least 80K-100K to be at that boat show and have the space he usually rents. So if he’s in financial trouble and already has too many deposits I wouldn’t expect him to be there.
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Old 02-01-2019, 09:23 AM
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Handing over large deposits to any builder is just nuts. Escrow funds and let builders draw on their line of credit to build boat. If they are too small/incapable of securing a line of credit, then escrow funds and release funds directly to vendors/employees etc to ensure that your $$ is going into your boat and that there are no mechanics liens on it - worst case is you end up with a partially constructed boat that you own. Sorry but you don't do handshake deals and fork over six figures unless you can afford to lose it or like gambling.
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Old 02-01-2019, 09:30 AM
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Originally Posted by GCC View Post
Im just curious (not bashing) why anyone would put such a large deposit down on such a thing? Is this normal?
it appears the OP entered into a two boat partnership with Barker where they would build a boat, sell it and split the difference over a threshold amount. this may have applied to one or both boats. so it was a little different then just buying a boat. that explains the large deposit.
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Old 02-01-2019, 09:31 AM
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Originally Posted by sclancy View Post
Sorry but you don't do handshake deals and fork over six figures unless you can afford to lose it or like gambling.
And if you can afford to lose it, and are fine with the risk reward calculation, then what might you do it, in fact, it looks like you are getting the downside instead of the upside? I'd guess you would sue once it became obvious there was no hope, and (since the suit itself damages the hope of a corporate recovery), then do things like publicize the suit to get the punishment you can.

There's no upside to the law suit unless you have given up hope and/or feel screwed. If you have given up hope and/or feel screwed, the lawsuit itself will only be the beginning, because you aren't actually expecting to get the money even if you win.
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Old 02-01-2019, 09:36 AM
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Ray isn't the only person that "invested" the $250K on the new Barker cat venture. The person who has #5 slot lives up here in the Tampa Bay area and gave the same $$ as a deposit. I think he has given up and bought a new Invincible cat. But him being #5 would infer that there are at least two more (#3 and #4) out there who are in the same boat (no pun intended).
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