Correct Craft Sold?

[etwman]

There is surfacing information that there's a new majority owner of Correct Craft and that it is no longer the world's oldest family owned boat manufacturer. Apparently it was a very surprised sell out that occurred about 3-4 weeks ago, especially to Walt Meloon who was 49% owner. The other 51% were other family that sold out.

Does anyone have anymore information on this? This is viable information and came from a very valid source.

[NautiqueJeff]

RE: Correct Craft Sold?

From what I understand, Ken Meloon is preparing for retirement, and has sold his share of the company to a non-Meloon. This person has been on the Board at Correct Craft for a long time, and is someone with very similar values to those of the Meloon family. While it is true that the Meloons no longer hold a majority share, I don't expect any major changes to the company in the near future.

[nautique210]

I understand that Correct Craft is also closing the Mid-West warehouse in Angola, Indiana.

[NautiqueJeff]

There is some information about recent changes to ownership of MWCC here.

[Separator]

Humm....I think the ownership figures are a little off in a previous post...

Rumer has it that there is about 4-5 % of the company that is not owned by Walt Meloon or the new majority outside stock holder.

Wonder how one could get a hold of some of that action? :grin:

[EarlyRiser]

Sep, I believe you could marry into it. Just hope there are some good looking ones left ER

[Separator]

Not to thread jack but maybe this follows with the CCI sale...Has anybody had contact with or seen Gary Meloon at CC since the sale went through?

[NautiqueJeff]

I spoke with Gary the day before yesterday about some plans for the Masters. He is still the Tournament Director for the Masters this year. From what I have been able to gather, Gary has decided to go back to school to pursue his Bachelor's degree, and after that he may continue on to work on his MBA.

[OldFart]

hey Sep! long time no see.

[Separator]

Oh....so to cut to the chase he is no longer employed at Correct Craft.

Wow....Whats happening with this company that all of the family are leaving or being ask to leave?

[AuMDLST]

Interesting - I was at SECC when several conversations were taking place via telephone and was somewhat informed about "new employees" having the potential ability to get the Meloons out of CC as well as those that are very close to the Meloon family

[Separator]

I spoke with Gary the day before yesterday about some plans for the Masters. He is still the Tournament Director for the Masters this year. From what I have been able to gather, Gary has decided to go back to school to pursue his Bachelor's degree, and after that he may continue on to work on his MBA.

I understand no one else has been able to contact him thru CC since his exiting so Jeff with your inside contact info for Gary you must be related to the family in some way (meloons, warners, others)?

[bobchris]

how about friends?

[Hollywood]

They used to go to kindergarten together.

[Separator]

They used to go to kindergarten together.

That's good Hollywood :grin:

So with yours and BobChris's idea that could make them kindergarten friends :grin: