Eliminator Boats this AM

[was thatguy]

When you have a business that is related to the boat industry and your airing dirty laundry imo it is best to stay out of it. Let someone else do the dirty work. You work with all these people.

That’s my opinion


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Forgive me, I have no dog in this and know none of the players.
But what part of any of this is “dirty laundry”?

3 primary investment bidders are inventorying a court held BK sealed bid auction, buyer to be notified of winning bid next week.
Which part of this is “dirty”?

Is it because you have some shame or other bad feeling, seeing as you are obviously involved in some way with the BK company?
That’s completely understandable. I was an employee at a fairly successful machine shop when the owner sold it to a conglomerate. They immediately forced it into BK on purpose by shifting losses from their parts warehouses.
It sucked seeing all these suits and competitors coming around like it was some fire sale of the place we were very proud of.
We got even though...we sold all the machines out the side door while the crooks were out of state.

 

[Uncle Dave]

Your right but I thought you had some integrity and wouldn’t do this to open the flood gates. I thought we were all friends. But it’s all here in black and white. Have a blessed day.
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You/EB got the "friendship ". Integrity works in both directions.

There has been very little to no discussion here about this very public issue and impending action.

If it were up to certain parties I'm sure they would have preferred there be absolutely zero discussion about it brought up - or even allowed.

Kind of hard not to comment when the issue becomes an open house for bidders that are traipsing through the place in front of everyone.
EB had the floodgates bust open. RD didn't open them, he could have on many many occasions, but chose not to.

RD is all of the sudden supposed to be the only guy not saying anything when they do bust open? - please.

RD takes a high road when it comes to treating EB with integrity. Other places might say RD went overboard to the point of protecting EB.

It's a pretty tough line for RD to walk and keep everyone happy.

Unless you prefer RD to look uninformed and all of the sudden disconnected from the industry rather than control the message (in a way that was very beneficial to EB) I don't see that you have a damm thing to cry foul over.

UD

 

[ductape1000]

They loose 20k in salary. But now they need to pay x for the building lease. That size is easy 20k unless Bob cuts them a deal.

Hope it all works out for them. I like the fact it wasn’t taken over by another builder. Keeps a certain competition going.

I’d be willing to bet that eliminator has been paying bob rent the whole time so that is in the books already. Owning the property and owning the business within the property are two separate companies. Ask McDonalds how that has worked for them. [emoji39]


Sent from a van down by the river. [emoji3577][emoji41]

 

[JBS]

The building is separate from Eliminator.
As long as he pays the mortgage...

So Bob does not have personal guarantees on any of the debt? Seems difficult to think he would lose the whole business and be able to hold onto such a major asset unless the facility has no equity.

 

[DRYHEAT]

So Bob does not have personal guarantees on any of the debt? Seems difficult to think he would lose the whole business and be able to hold onto such a major asset unless the facility has no equity.

Was wondering the same thing, possibly set up in a family trust?

 

[Boat 405]

Smart man would keep the building separate from the company and rent it back to the business.

 

[ChasingPaper]

Was wondering the same thing, possibly set up in a family trust?

According to property records he owns it personally and just pulled about $1,000,000 cash out in July of this year with a hard money lender.


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[CoolCruzin]

Was wondering the same thing, possibly set up in a family trust?

One way of saving your life time of assets .
Noted for my own assets

 

[JBS]

Smart man would keep the building separate from the company and rent it back to the business.

According to property records he owns it personally and just pulled about $1,000,000 cash out in July of this year with a hard money lender.


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Like I said hard to believe that none of the company debt would not have a personal guarantee. Makes no difference if it is a personal asset.

As I said in my last post if he owes a lot that may be why he can keep it. Taking out the equity while owing is another matter that the court will decide.

So I am clear I wish all parties the best. Having been on the owed side of some BK's make me a little sceptical of debtors

 

[Englewood]

So what are the facts, since you know everything? I have trouble reading posts like this with poor grammar and misused quotation marks. I don't really know you, but you sure seem very arrogant when I read through your posts. So go ahead and tell us all what you seem to know.....

I agree...If you want an expert answer on anything just ask him.

 

[RiverDave]

True dat.

When you started it, did you ever think your website would out value eliminator boats?

True dat.

When you started it, did you ever think your website would out value eliminator boats?

I'm not sure that it actually is valuated higher than Eliminator boats. Hard to say what Websites are worth, to some they are worth a ton, and others not so much.. LOL I constantly get offers from all the big corporations, but it would have to be a pretty sizeable number to get me off of RDP.

RD

 

[steak&lobster]

I'm not sure that it actually is valuated higher than Eliminator boats. Hard to say what Websites are worth, to some they are worth a ton, and others not so much.. LOL I constantly get offers from all the big corporations, but it would have to be a pretty sizeable number to get me off of RDP.

RD

CORP-RDP . . . Nah

 

[RiverDave]

CORP-RDP . . . Nah

LOL Right?

That said if someone or some corp came along with a big enough #, everything is for sale.. LOL

RD

 

[steak&lobster]

LOL Right?

That said if someone or some corp came along with a big enough #, everything is for sale.. LOL

RD

EVERYTHING is for sale...

 

[GRADS]

LOL Right?

That said if someone or some corp came along with a big enough #, everything is for sale.. LOL

RD

With that said, I have now rescinded my offer for Eliminator Boats and am now putting an offer in on RDP. Once the offer goes through I would like everyone to refer to me as King Moderator.

EDIT: and Shintoooo consider this your two week notice.

 

[Spot]

LOL Right?

That said if someone or some corp came along with a big enough #, everything is for sale.. LOL

RD

The crazy thing about forum based websites is they can change overnight. I have mentioned before, I was part of few robust, highly interactive forums for other niches and new management came in, changed a few things and those forums never recovered. I mean they literally went from being as interactive as RDP to 3-5 day old post still being on the first page. Funny thing is, they kept the original owner onboard, and tried to keep everything the same. It didn't matter, the forum was no longer organic. It had a corporate spin to it and everyone left.

Re Eliminator - I wish all the best to all involved. Our first boat as a family was an Eliminator. It was a great boat to us for many-many years.

 

[DrunkenSailor]

I have no doubt that Jake and crew will crush it. Being out of BK should help the company greatly. I can't wait to see what new models they roll out. Exciting times for them for sure.

 

[River Lynchmob]

They loose 20k in salary. But now they need to pay x for the building lease. That size is easy 20k unless Bob cuts them a deal.

Hope it all works out for them. I like the fact it wasn’t taken over by another builder. Keeps a certain competition going.

Eliminator would be paying Bob rent on the building already.

 

[River Lynchmob]

So Bob does not have personal guarantees on any of the debt? Seems difficult to think he would lose the whole business and be able to hold onto such a major asset unless the facility has no equity.

I would think he would have the in an LLC, if he was smart he wouldn't sign a personal guarantee. If I am asked to sign one for a supplier we are planning on using I will find another that will not require a personal guarantee. I will not sign them.

 

[Dirtbag]

For Bobs sake I hope they keep renting out his building!

 

[Bigbore500r]

With that said, I have now rescinded my offer for Eliminator Boats and am now putting an offer in on RDP. Once the offer goes through I would like everyone to refer to me as King Moderator.

EDIT: and Shintoooo consider this your two week notice.

Your post has just de-valued RDP, which is a bad thing as your deal has not closed. Appraisal of said business is now in the toilet, along with your LTV.

 

[JBS]

I would think he would have the in an LLC, if he was smart he wouldn't sign a personal guarantee. If I am asked to sign one for a supplier we are planning on using I will find another that will not require a personal guarantee. I will not sign them.

I am the same way on suppliers and equipment loans. I run a tight ship and have an excellent credit standing. There are many that cannot get away without giving a guarantee. Lines of credit are very difficult without a guarantee.

Eliminator ran for a long time under the chapter 11 without being able to come up with a plan. This may actually lead one to think the business assets were the only assets. Who knows.

 

[zx14]

All I know is Bob is a great guy, a family guy, he gave me more than one, in his words”smokin deals”. He wanted me and my family to go boating.
Here is one deal he made for me, his sons couldn’t believe it.
1995 21’ Daytona, Dana hyd Jack plate and 2.5 efi offshore. 7 or so colors, he let me talk to Larry that did a little custom gel to set it apart from others. I brought him a case of hieniken. For his great work.

$35k. On a competitive trailer. That was a,”smokin deal”.
I came by the shop every day to watch the build.

I’m sure Bob has his finances in order. Best of luck to him.

 

[daveb1]

read through all 5 pages of this before making this post.

initially, i was more concerned about completing warranty repairs on my new boat. this time, it has been there since July with an original estimate of 2-3 weeks to complete repairs.

after awhile, i thought this was a selfish concern on my part. after all. i have known Bob Leach for over 30 years, purchasing multiple boats from him and his son, Brent Leach. i need to be more concerned about Bob in his battle for life.

then, my thoughts return to my boat. it is a 2018, costing over 250k, and Eliminator has had it at their shop longer than i have. i just hope with the company finally sold after operating in BK for almost 10 years, it will continue and be better than ever as well as honoring all warranties.

 

[Singleton]

read through all 5 pages of this before making this post.

initially, i was more concerned about completing warranty repairs on my new boat. this time, it has been there since July with an original estimate of 2-3 weeks to complete repairs.

after awhile, i thought this was a selfish concern on my part. after all. i have known Bob Leach for over 30 years, purchasing multiple boats from him and his son, Brent Leach. i need to be more concerned about Bob in his battle for life.

then, my thoughts return to my boat. it is a 2018, costing over 250k, and Eliminator has had it at their shop longer than i have. i just hope with the company finally sold after operating in BK for almost 10 years, it will continue and be better than ever as well as honoring all warranties.

Your 1 year bow to stern warranty should not be impacted. If Eliminator had that, my Ultra did. The 7 year hull defect warranty is another story. If you have any issue with that, you have to file a claim against that carrier. PIA but doable.

 

[CoolCruzin]

Warranty, what could go wrong after the first 6 months if it’s built right
They build a good boat

 

[ChumpChange]

EDIT: and Shintoooo consider this your two week notice.

Shintoo should feel pretty confident. Everybody knows that two weeks on this site means NEVER!

 

[4Waters]

With that said, I have now rescinded my offer for Eliminator Boats and am now putting an offer in on RDP. Once the offer goes through I would like everyone to refer to me as King Moderator.

EDIT: and Shintoooo consider this your two week notice.

Hey everybody, Grads is going to take a couple week vacation any day now. Just FYI. LOL

 

[QC22]

The crazy thing about forum based websites is they can change overnight. I have mentioned before, I was part of few robust, highly interactive forums for other niches and new management came in, changed a few things and those forums never recovered. I mean they literally went from being as interactive as RDP to 3-5 day old post still being on the first page. Funny thing is, they kept the original owner onboard, and tried to keep everything the same. It didn't matter, the forum was no longer organic. It had a corporate spin to it and everyone left.

Sounds like iboats.com ... Place was very strong, for a long time. When Bruno sold, the forum went garbage. They have a sort of Amazon for boat parts business that may still be cooking for all I know. The feel changed immediately though.

 

[RiverDave]

Sounds like iboats.com ... Place was very strong, for a long time. When Bruno sold, the forum went garbage. They have a sort of Amazon for boat parts business that may still be cooking for all I know. The feel changed immediately though.

Well we can all relax, I don't plan on selling RDP anytime soon.

RD

 

[steak&lobster]

Today is the 7th, any news Scoop Johnson??? @RiverDave

 

[RiverDave]

I believe the hearing is the 10th (Monday)

 

[Fun Times]

Sounds like iboats.com ... Place was very strong, for a long time. When Bruno sold, the forum went garbage. They have a sort of Amazon for boat parts business that may still be cooking for all I know. The feel changed immediately though.

Good to see you posting again Kevin...

 

[Shrub Lurker]

Eliminator by Bayliner, a Brunswick Company.

 

[QC22]

Good to see you posting again Kevin...

Super cool to see you here as well.

 

[Classic Daycruiser]

Eliminator by Bayliner, a Brunswick Company.

This is the end to legendary "Eliminator Boats by Bob Leach".

A special place, in a special time. Glad to be in the been there, done that club (twice).!

 

[FreeBird236]

A little early, but it's the 10th. Anything?

 

[ChumpChange]

A little early, but it's the 10th. Anything?

Yeah. It's my mom's birthday.

 

[RiverDave]

A little early, but it's the 10th. Anything?

I haven't heard from Jake yet, but I expect I will sometime today.

RD

 

[COCA COLA COWBOY]

Anything? I'm curious.

For some it may be hard to go Eliminator without Bob.

 

[28Eliminator]

I haven't heard from Jake yet, but I expect I will sometime today.

RD

Were growing impatient...


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[4Waters]

Were growing impatient...


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Mutiny, LOL

 

[28Eliminator]

Mutiny, LOL

I just want to know if my boat is still going to be an Eliminator, or another Nordic by product...


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[Bobby V]

I just want to know if my boat is still going to be an Eliminator, or Nordic by product...


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A bunch of threads in the New Boats in the Mold section got bumped today by Eliminator Boats.

 

[240Hallett]

I just want to know if my boat is still going to be an Eliminator, or Nordic by product...


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Wait...is that bad??

 

[ChumpChange]

I haven't heard from Jake yet, but I expect I will sometime today.

RD

Something wrong with your State Farm policy?

 

[wiredguy]

Eliminator belongs to Jake!
All the employees that have been working and holding things together will still be right by Jakes side. He does not plan on changing much out back in production besides fine tuning things that me to be.
Couple new Speedster models will be coming in the near future!


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[GRADS]

Eliminator belongs to Jake!
All the employees that have been working and holding things together will still be right by Jakes side. He does not plan on changing much out back in production besides fine tuning things that me to be.
Couple new Speedster models will be coming in the near future!


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That is freakin' awesome! Congratulations Jake and all the peeps that work there!

 

[HighVoltage329]

Good news. You guys have been turning out some great work and sounds like it should continue.

 

[ductape1000]

So... Torches and pitchforks put away. Noted


Sent from a van down by the river. [emoji3577][emoji41]