Walter Meloon is selling MasterCraft

[contour]

http://www.boating-industry.com/output.cfm?id=1787095

[Nautiqueman]

RE: Walter Meloon is selling MasterCraft

To me, It is almost like he renounced his citizenship.

[bwana50]

RE: Walter Meloon is selling MasterCraft

Too weird. To me it seems like reputation would be an issue. Potential boat buyer: "You used to say Correct Craft was the best, now you're apparently saying MasterCraft is the best? Which is it?"

[SGY]

RE: Walter Meloon is selling MasterCraft

Here's another article:

http://www.orlandosentinel.com/busin...,3758496.story

I'm sad. SECC was always there when I had a question about my boat. Woody, who will remain at SEMC, is a top notch guy.

With Ken Meloon being the Chairman of the Board and Greg Meloon holding a upper management level position with CC, this has got to be a major family division. Or, maybe the family has already divided.

I'm very fond of Ken and Greg. Those guys were awesome when i bought my 05 196 from MWCC.

[jmo]

RE: Walter Meloon is selling MasterCraft

Based on the second link it seems CC revoked SECC's dealership rights and left them no choice but to go to another line of boats if they wanted to keep their retail business alive. There much be some serious family feuding going on behind closed doors to cause this sequence of events...

[Nautiqueman]

RE: Walter Meloon is selling MasterCraft

"MasterCraft is the No. 1 manufacturer in the tournament product line," Meloon said. "They are much larger than Correct Craft."

If Meloon can be quoted as saying that in the article from the Orlando Sentinel, then he is only loyal to money, NOT Correct Craft. After owning 21 Nautiques over the years, I may be more loyal to the brand than he is.

[SNMike]

Re: RE: Walter Meloon is selling MasterCraft

"MasterCraft is the No. 1 manufacturer in the tournament product line," Meloon said. "They are much larger than Correct Craft."

If Meloon can be quoted as saying that in the article from the Orlando Sentinel, then he is only loyal to money, NOT Correct Craft. After owning 21 Nautiques over the years, I may be more loyal to the brand than he is.

Isn't it ironic that 6 consecutive JD Powers awards, which he helped secure, would suggest otherwise. What a dang shame. It's not my place to give info on this matter, suffice it to say he didn't just all of a sudden wake up and say, "DOH, MasterCraft is #1. What was I thinking?"

[AbunDiga909]

to be honest, i think this is for the betterment of correctcraft. not saying the meloons are bad people or businessmen, but at this point it time, i just think it could be the right time for the company and the family to finally go their separate ways.

nonetheless, still shocking

[NautiqueJeff]

Here's another article that the Orlando Business Journal published yesterday. From what I have heard, this one probably is the most factual of the articles I have seen.

After more than eight decades as principal owners of Orlando boat manufacturer Correct Craft Inc., the Meloon family sold most of its remaining shares in the company to longtime board member Daryle Doden. Many members of the family remain with the company, including board Chairman Ken Meloon and Greg Meloon, vice president of product development. Gary and Walt Meloon, meanwhile, have become the new owners of a MasterCraft dealership on South Orange Avenue. Correct Craft and MasterCraft Boat Co. in Vonore, Tenn., have competed against each other for 40 years. The Meloon family, which has been selling its shares to Doden for years, retains less than 1 percent ownership in Correct Craft, which reported annual revenue of $107.7 million in 2007.

[etwman]

Wonder what a seat at the table for the Meloon Family Thanksgiving dinner would run? I could be wrong, but I would venture to say it won't be taking place in the CC conference room this year.

To some I guess its like a lifelong marriage gone bad, all the dedicated CC boat owners are the kids, and everyone is standing around wondering who to support, yet few no the real story.

[MikeC]

etwman, I'm right there with you wondering how much fun their Thanksgiving will be. I'd really like to know if Walter is going to give all of his family members Mastercraft schwag for Christmas.

As for who to support, I don't think there is any question - they sold their stock knowingly, I don't believe it was stolen our from under them, so their obvious decision was to move on. Personally I don't believe that I'll go out and buy a MC just because a dealer changed in Florida. If my dealer changes in Atlanta again I'll go to the new dealer for parts, maintenance and purchases, I won't go buy whatever boat the old dealer decides to sell next - sorry but sometimes it's just business.

[etwman]

Mike maybe some of the guys from Malibu can bring the rolls and cranberry sauce.....

[SNMike]

Mike maybe some of the guys from Malibu can bring the rolls and cranberry sauce.....

I think they're better known for giving "turkeys"! :twisted:

[EarlyRiser]

I find it shocking, sad, and pathetic all at once. WOW! The lesson to be learned from this scenario is a business Masters degree by itself! ER

[etwman]

This all is very ironic to me as I read this in the papers. Our company specializes in selling and servicing a high end niche market. We purchase materials from a well established, very reputable company. This vendor (who we buy from) over the past 75 years has built a great empire of producing a superior material to aid in our installations. Their tech support staff, as well as their sales force is phenomenal. Over the past two years their upper management has made some questionable decisions which have resulted in 10-12 of these key people leaving, one of which was family. Since then the quality has suffered slightly but the company will definitely survive on its reputation. The one thing this vendor failed to realize was how much of an invaluable asset those 10-12 people really were, but it’s too late. What are those key people doing now that had extensive product knowledge and sales experience? They are knocking on my door selling a very good competitors product and opening my eyes to different options. This is something in which I am now strongly considering because they can truly explain the difference between the products, something very few can do. Rule #1, never let good key knowledgeable employees leave without exploring every possible option under the sun to retain them, they are worth much more than you can imagine.