Keep an eye on your own company stock.
Only time will tell, but market jitters of the past few days could have a very
significant effect upon the boating industry.
- If you are a top level executive or board member, you might want to try to
do something to prop up your stock price (buy back shares).
- If you are an executive and were counting on your stock options to make a
big down payment on your new house - forget it. Executives will be reviewing
their compensation package and may ask for some changes if the down turn
persists. Some companies are already talking about repricing options, but
stockholders are hard to convince.
- If you are a employee with a major portion of your retirement fund in your
company's stock, you might want to be following along closely. If your retirement
is in a more broad based or indexed fund, you might want to follow your fund.
Some Specific Stocks
Stocks that were already down, took an additional beating - Brunswick (BC) was
at 14 7/8 (annual low) this morning (Sep 1). Some companies are buying back
their stock in an effort to stabilize prices.
Brunswick Stock Chart from http://quote.yahoo.com/
A Brunswick stockholder placed the
following note in the Yahoo
Brunswick financial message board this morning.
MarineMax (HZO) was already struggling with its stock price. The stock
market jitters comes at a very bad time for them. They are trying to show
themselves off as a good investment as soon as possible. With all the normal
problems of a startup, plus a few more, a major plunge in the market
could put them at great risk. But from the stock chart below, it may already
be too late.
" If management is not willing to step up its share repurchases in
light of the move to 1990 stock level, then I see no hope for this
stock. Too bad, because the dynamics of this company are still
good enough to be a great long-term investment. Number 1 in
marine sales, number 1 in bowling, Zebco, etc. etc. But why
can't management show some confidence in their stock? Does
anyone know how to let management know this is what the
shareholders expect? "
Marine Max Stock Chart from http://quote.yahoo.co
Mr. Wizard contacted us recently about doing a story on Marine Max. After
looking at this stock price chart, we told him we did not think it took a wizard to make a prediction on this one. (Brunswick
holds a good sized stake in them).
OMC is now private, but you can certainly expect their major banks and lending
institutions to devalue them, based on the general stock market slump.
Do you have any comments on the market's impact on the industry or this article? E-mail us at