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Finance committee  Do you mean they're shy to enter into this floor plan?

April 30th, 2009Committee meeting

Jeff Wilcox

Finance committee  The inherent risks, obviously, are to the financial stability of the company, carte blanche. As our floor plan costs increase and the downward pressure on the economy happens in the top end, margins have shrunk, which means our overall profitability has virtually disappeared. So

April 30th, 2009Committee meeting

Jeff Wilcox

Finance committee  Floor plan costs in general, across the marine sector, have almost tripled, and in some places more than that. We compared where we were this time last year with a floor plan interest cost of about 3.5%. We're now approaching 8.5%, so it's about a two and a half times increase.

April 30th, 2009Committee meeting

Jeff Wilcox

Finance committee  Thank you. My name is Jeff Wilcox. I'm president of George's Marine and Sports. Over the past 10 years that I've managed this company, we've taken it from a $100,000 dealership to nearly $14 million. I have been president of the company since 1999 and have been employed with it

April 30th, 2009Committee meeting

Jeff Wilcox