Analysts: Marine market continues to ...

Analysts: Marine market continues to deteriorate

There are 30 comments on the Boating Industry story from Apr 22, 2008, titled Analysts: Marine market continues to deteriorate. In it, Boating Industry reports that:

“As a result, we expect margin de-leverage to come more from reduced volume than from promotional spending.”

' A further deterioration of the marine retail environment in March drove boat retail giant MarineMax, Inc. via Boating Industry

Join the discussion below, or Read more at Boating Industry.

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Sanberger

Boynton Beach, FL

#1 Apr 26, 2008
The Marine market continues to deteriorate, yes. All we hear about or see written about is Marine Max. Whats the scoop on Passport Marine that just went under in a big way. We were reading article after article right up to this new year about how great this company was doing, how much money they were making, how they were revolutionizing the boating industry. How could it have gone from making unprecendented money to bankrupt in just a few months? Have Jim Dillon or Andy Sturner commented on their company's implosion? They were supposedly the #1 Formula dealer in the world! Wheres the press?
Sunshine Marine

Dania, FL

#2 Apr 27, 2008
Maybe they were doing good because they were not paying to their subcontractors. I'm one of the dozens of dozens of companies that Passport Marine took advantage of. People with no shame that will lie to you on your face and They'll not care if little companies like mine survive to their scams
Sunshine Marine

Dania, FL

#3 Apr 27, 2008
if anyone needs further information just contact Sunshine Marine Detailing Inc
Sanberger

Boynton Beach, FL

#4 Apr 27, 2008
I am sorry to hear what they did to your company. It doesn't suprise me. I've been hearing this quite a bit about this company. I hope the Passport Marine principals dont keep getting a free pass from the Marine Industry and all the publications puffing them up like they have been getting. These guys just seem to move from one endeavor to the next leaving everyone around them hurt, except themselves.
dj mobile fiberglass

Hialeah, FL

#5 May 11, 2008
well i was surprised when i heard about this i worked at high lift for a few months and pass port used to sell those formulas like mc donalds sells french fries. But hey i guess what goes around comes around. natinal liquidators have all those nice brand new formulas!!!
Been There_Saw That

Deerfield Beach, FL

#6 May 11, 2008
Selling them is one thing. But did they make any money selling them? Or were they just "moving" boats so they could set themselves up for an IPO? I was there at the Courtyard Marriot in Aventura when Andy Sturner stood in front of everyone and told us we would all be millionares off of Passport Stock in five years. If they did make money, what happened to it?
Sanberger

Hollywood, FL

#7 May 13, 2008
Check out the article in the Tampa Bay biz journal about Passport Marine, google it......the picture is even less clear now about what happened.
TampaFormulaowne r

Bradenton Beach, FL

#8 May 22, 2008
when do you guys think national liquidators will get the new formulas? I read that key bank demanded the boats back, but has yet to get them. it's in the courts now.
Been There_Saw That

Boca Raton, FL

#9 May 22, 2008
National Liquidators already has the boats. They confiscated them by court order. From what I heard, they can't sell them yet.
The Passport principals owe some big money to lots of people.
Taken big time

Saint Petersburg, FL

#10 May 27, 2008
Bought a boat from passport in March, never got the title. Can't figure out who owns it. Where can I find this Jim Dillon character, I will make him cry.
Been There_Saw That

Boynton Beach, FL

#11 May 27, 2008
Actually, in March Dillon was no longer with Passport. He resigned in December 07'. His partner Sturner is still around at Hi-Lift Marina in Aventura. You bought the boat just as they were going under. Pursue it with someone at the Aventura location. The leftover principals are still there, even though Passport itself isn't. They still should be responsible for making it right.
Miami Man

Boca Raton, FL

#12 May 2, 2009
Jim Dillon has a long, notorious history - in business, in politics, in his personal relationships. From New York to Miami to St. Pete - wherever he goes - he leaves a trail of trouble & deceit.
sanberger

Fort Lauderdale, FL

#13 May 3, 2009
Right on with Dillon......The Ellis brothers told Andy Sturner time and time again.....don't get involved with this Dillon Character. They told him what Dillon did with Strong's Marine, and others. Sturner just wouldn't hear any of it. He embraced Dillon, and partnered up with him. He allowed Dillon to dictate what employees Sturner should remove.....and of course he had all the employees who were on to him removed. I blame Sturner as much as I blame Dillon, or more. He had fair warning from people that knew about Dillon, and chose to ignore those warnings. Which means only one of three things .....He is not very smart, He didn't care who or what Dillon was because he thought he could profit too, or, he is really not much different than Dillon himself.
What I said awhile ago, I still believe. These guys just go from one endeavor to the next, hurting many people in their wake except themselves. Sad.
Ferrett

United States

#14 May 3, 2009
It was Mr. Struner who failed to guide his ship in to the harbour, Mr. Dillon only did what he was hired to do, sell Formula boats, and he did that well ...
sanberger

Fort Lauderdale, FL

#15 May 3, 2009
People have to understand that Dillon could not do anything regarding Passport Marine without Andy Sturners blessing. Nothing. Could not open up new dealerships, could not floor plan boats, could not spend too much money or run up credit cards without Sturners acquiescence or approval. Sturner incorporated Passport Marine,Financed the business with investors money (including Sturners best friend Meir Ben-Nissan and attorney Robert Zarco, who lost their entire investment) and hired Dillon. Period. If Sturner ran and managed his company correctly, this would not or could not have happened. To blame Dillon for the Passport fiasco is incorrect. The responsibility was, and is Andrew Sturner's.
Miami Man

Boca Raton, FL

#16 May 3, 2009
Sturner was well aware of Dillon's seedy reputation for ripping off people and disappearing in the middle of the night. It was all about hand-over-fist greed, for both of them.
Miami Man

Boca Raton, FL

#17 May 3, 2009
For evidence of Dillon's sordid practices over the years, look into what he did on Long Island - in business, and in politics. Governor Pataki himself could tell you some stories about Jim Dillon, as could the Archdiocese in Rockville Centre. He is regarded as persona non grata all over the country - in business, in politics, in his own family.

Look, also, into what he did at Fierce i Films, in St. Petersburg - including his infringements and running off with investors funds.
sanberger

Fort Lauderdale, FL

#18 May 3, 2009
I agree......But knowing this about someone, you would stay away from doing business with that person. Jim Dillon was a known quantity when he partnered up with Andy Sturner. STURNER WAS TOLD ABOUT HIS BUSINESS DEALINGS AND FRACTURED RELATIONSHIPS...yet, Sturner partnered with him and bought him into his whole business plan....that is what I think makes Sturner's complicity worse. Greed and misjudgment.
Miami Man

Boca Raton, FL

#19 May 6, 2009
Dillon's back! This time as a "consultant" for both boaters AND politicians!! Of course, he fails to mention in his new "Dillon Marine Consulting, Inc." website the atrocities of his previous business endeavors, including Strong Marine, Passport, Hi-Lift and Fierce i Films. Likewise, while offering his "political consulting" services - he also omits mentioning that his immediate boss - for whom he was "chief-of-staff" - was sent to prison for fraud & embezzlement, in one of the worst political scandals in the history of Long Island.

http://dillonmarine.com/home.html
liberal biatch

Dover, NJ

#20 Jun 14, 2010
Miami Man wrote:
Jim Dillon has a long, notorious history - in business, in politics, in his personal relationships. From New York to Miami to St. Pete - wherever he goes - he leaves a trail of trouble & deceit.
Yes - I always knew he was a grifter - he uses the women in his life and brainwashes them. He is a corrupt person and a liar.
Now he has changed his name to Ram Gian Singh. Is he of Indian or Pakistani descent now?

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