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Anyone know why this stock went down so much or any other info on this stock?
Wow.... I hope there are not to many more layoffs.. I have heard to rumors from the plant in palm coats.. One is that they will be going up 1 a week to 5 boats after the 1st of the years and the other was that they would be closing after the 1st of the year... You know how rumors are though...all you can do is sit and see what happens.. When did the layoff at Whaler happen and did they say how many people?
I have been in UWRL for awhile with it now.. Kinda new to the stock trading...Did the forex for awhile... I bought what I could on friday 50000 more shares..I know it is not much but trying to buy what I can... Just waiting for the rest of my money to clear at the begining of the week and will buy some more... Hope this things continues the way it has been going... Good luck to all next week...
Whay a nice run up today... Hope for some more in the next few days
Nice climb up on friday... Lets hope it keeps moving up little jumps everyday... I would be fine with that..
Thats what I am hoping for.. I was thinking between 18 - 20 and see what the charts look like from there... Lets keep it going BC....
Yes there was a good jump today..They cut some of there loses... I am hope to go up a bit more and then thinking of getting out..I have been in since the mid 10's
Blaming Poor Sales, Sea Ray Lays Off 170 From Palm Coast Plant; Future Uncertain
FlaglerLive | September 17, 2010
Sea Ray, the boat manufacturer and one of Flagler County’s largest and best-paying private employers, laid off 170 workers at its Palm Coast plant on Thursday. That’s at least a third of the plant’s workforce. The lay-offs will have considerable repercussions on a local economy already battered by high unemployment. After falling in summer, local joblessness was on the rise again even before the Sea Ray lay-offs. Figures released Friday put Flagler County’s unemployment rate for August at 16.4 percent, second-worst in the state.
Several local parts manufacturers and lumber yards depend on Sea Ray for big chunks of business. And while Sea Ray is not as large an employer as Palm Coast Data, which has about 1,000 employees, Sea Ray’s median salaries are more than double those at Palm Coast Data, which fall closer to the minimum wage.
One year ago, the Palm Coast plant employed 270. That number rose last spring, when the boat manufacturer geared up for the summer season and was expecting to sell six boats per week from the plant. The boats didn’t sell at that pace, however, and backed up the company’s inventory. At its height in the middle of the last decade, the plant was producing a dozen boats per week.
Sea Ray workers were told of the lay-offs Thursday afternoon in several groups by their building managers from the plant’s fabrication, assembly and lamination buildings. The meetings were only a few minutes long. Those who were laid off were told that the plant will be building four boats per week until at least the end of the year, necessitating the layoffs, and that “when we need you, your supervisor has the option to call you back.”
Supervisors then escorted them back to their work areas where they handed in their identification and company keys (if they had any) and picked up their personal items, then walked out to the parking lot, where they were required to hand in their yellow vehicle window stickers that identify them as employees, so they would opt be able to return. The news was somber but not unexpected: many workers had been in and out of employment at the plant, and many more had been revolving through several jobs over the past few years, trying to hold on to work.
Many of the laid-off workers were not directly employed by Sea Ray, but by Aerotek, the national staffing agency through which Sea Ray has been employing many of its workers. (The arrangement enables companies with seasonal or uncertain employment terms to avoid the bureaucracy that comes along with hiring full-time employees. Aerotek assumes that bureaucracy and actually signs employees’ checks.)
The lay-offs are distinct from the company’s usual furloughs, which take place in July (July 16 to 24 last summer) and December (Dec. 16 to Jan. 3), and from the rotation some workers were on last year—working one week and being off three. The difference this time is that the lay-offs are open-ended. The same day, Sea Ray, which is based in Knoxville but owned by Lake Forest, Ill.-based Brunswick Corp., announced that it was furloughing 600 employees at two plants in Tennessee on Oct. 4, months before the usual winter furloughs.
Locally, Sea Ray has been the beneficiary of generous county and state subsidies. In 2007, the company threatened to leave the county if planned developments were to proceed in its neighborhood. To entice it to stay, the county agreed, among other things, to build a 3,000-foot road extension from Roberts Road to Colbert Lane for the company, at taxpayers’ expense. The $2 million in state and local dollars included $300,000 from Flagler County taxpayers. At the time, the Sea Ray plant employed some 700 people.
At an internal Chairman’s Award ceremony about a month ago, employees were told that Brunswick had considered shuttering the Palm Coast plant and moving the operation to Sykes Creek on Merritt Island, just south of Titusville. Employees were told that because of the very low number of warranty claims against boats manufactured at the Palm Coast plant–a sign of quality manufacturing that saves the company large sums of money–the plan to move the operation was dropped. But it wasn’t the first time, nor is it likely to be the last, that Brunswick has considered shuttering the plant.
Repeated calls to the Brunswick about Thursday’s layoffs office were not returned.
At the end of July, Brunswick’s 16 boat brands reported net sales of $296.6 million for the second quarter of 2010, an increase of 114 percent compared with $138.8 million in the second quarter of 2009, but an operating loss of $23.6 million. That compares with an operating loss of $107.9 million in the second quarter of 2009.
There are alot more people that are able to buy the whalers too... I mean how many $400,000 - $1,000,000 boats can you sell and make and not have to slow down some...
Yes you are right...MAINTENCE does work on fridays... But no need to go there because I am telling you what happened.. I work there and this is what happened yesterday
They don't work on fridays at the sea ray and I think the whaler one too... They work 4 tens and are closed fridays...
Which one do you live by?
Yes slow season is coming..don't want to flood the market to much with the big boats now too
The plant in Flagler is there #1 plant they have.. They build the Sport yachts of Sea Rays and Meridian Yachts.. Maybe there will be some new out soon about this..Not sure.. But they are going down in boat count at this plant too...
I have stock in BC and was still wondering if it is good to hold it for a bit longer..
Yes it is new news... I was there today when it happened
There is no link to it... It was a Sea Ray Plant
Yes there was today at one of the boat plants
So what happens when the company has a layoff? does that hurt the stock alot?
He looks like an educated monkey with the glasses though...lol
Goodmorning everyone.. I am new to this pennystock trading, But I got in UWRL on 8-26 @ .0012...Just been sitting back and watching charts and things... Traded the forex for a few years and wanted to get into some stock trading...Go UWRL....
Well I guess I posted to quick.. I had found it in a post above...LOL... One more search and I would have found it
Ok I am kinda new to this stock trading.. What does the CE stand for that they are talking about removing... Hope it don't sound like a stupid question...LOL...