NAUTIQUE ANNOUNCES NEW STRATEGIC PLAN

[NautiqueJeff]

Official Correct Craft Press Release ---->
ORLANDO, FLA (October 12, 2010) — Today Nautique announced the beginning of a new four year Strategic Plan. The plan sets aggressive improvement goals for each area of the company.

In 2007, Nautique began execution of its first ever Strategic Plan and the results were dramatic. The company has significantly improved its business model resulting in improved product, market share and customer care. The recently completed plan has resulted in the company being in its most financially stable position ever, despite a significant global economic hurricane during its execution.

The new Strategic Plan, which the Nautique team has been developing for months, divides the company into twelve departments and sets aggressive goals for each of them. The plan is expected to produce significantly positive results for Nautique customers, employees, dealers and vendors over the next four years.

“I am incredibly proud of our team and the results we have achieved the past three years. We have the best team and most financial stability that our company has ever experienced. However, we are not even close to being satisfied.” stated Nautique’s President and CEO, Bill Yeargin. “As part of our execution of a new Strategic Plan we will be making the company even better, which is tough to do when you already lead the industry. We will be the best getting better.” Yeargin added.

To read Bill Yeargin’s Nautique Insider blog regarding the new Strategic Plan visit http://www.nautique.com/blog/.

[RLS]

I guess it is good for Nautique but I am not sure how it is good for people in California. We are down to two dealers in the whole state. Larson Marine who has been one of the largest dealer for Nautique just turned them away because of this great plan. They found selling Malibu would be easier. They have sold against Malibu for years and Nautique had always come out a good value up until about the time this new deal started. I purchased my boat from them at the end of 2007. It was the beginning of the end. I was willing to pay a little more because we had West Coast Correct Craft. Not long after that the new plan closed that, and they raised the price of their boats. One of the dealers told me the great plan has lead to 8 boats being sold in California this year. I think most of those were special order and the California dealers have only brought in one or two boats for the show room. How will Nautique service California with boat sales of 8? The West coast could not have been much more. California is a huge boat market. Where is Nautique? They have priced themselves out of the market. Someone at Larson told me they could not risk bringing in a Team 230 at between $85,000-$95,000 when they could sell the same size Malibu with at least as many option for $65,000. The store in San Jose has 1 2010 Nautique on there lot. They have sold several Malibu's this year. They have also ordered more Malibus than Nautiques. From outside looking in it looks like Nautique has put a lot of eggs in a very few markets and if one should have a major change this great plan will not look so good. How do you walk away from one of the largest markets in the country and think things are good?

Sorry for the rant but I worry about service for my boat and when it comes time to replace it what I will be able to do. At this point how could I consider Nautique if they are going to leave California.

[wake_fun]

Exactly.

[RLS]

I wanted to follow up on my rant. I received two emails from Bill Yeargin about this post. He corrected some of my figures and indicated more boars have been sold in California than I had posted. He also indicated there are more than two dealers in California. I did find one other but they did not have any boats in stock. What amazed me is he would take the time to follow up. He was very gracious and reassured me California would not be forgotten.

[wake_fun]

Central Valley Marine sent me an email saying that they were the only dealer in CA now. So someone doesn't have their facts straightened out