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Started By
Message
re: Bollinger's sell shipyard
Posted on 12/23/14 at 6:00 pm to Revelator
Posted on 12/23/14 at 6:00 pm to Revelator
I think that's stretching it a bit, but still, why give up control of an otherwise lucrative business? It's not like the Coast Guard contract was the only thing keeping the company afloat. It's probably more like, "Hey, I've been doing this for almost 25 years since my father passed the torch on to me and I've made more money than I could possibly spend and I want to go enjoy retirement and pass the torch on to the next generation."
That seems more likely to me.
This post was edited on 12/23/14 at 6:02 pm
1
Posted on 12/23/14 at 6:05 pm to boosiebadazz
quote:
I think that's stretching it a bit, but still, why give up control of an otherwise lucrative business? It's not like the Coast Guard contract was the only thing keeping the company afloat. It's probably more like, "Hey, I've been doing this for almost 25 years since my father passed the torch on to me and I've made more money than I could possibly spend and I want to go enjoy retirement and pass the torch on to the next generation." That seems more likely to me.
I don't know if he sold out because of Mary, that's why I put a question mark at the end of my post. I thought it would be worthy of conversation.
Posted on 12/23/14 at 6:15 pm to Revelator
quote:
I'm afraid it's you that doesn't know anything about what you are saying or about me for that matter.
I'm happy that you know people who work there. Good on you.
Bollinger has been building ships of all kind, commercially and for the Navy and CG since the late 40's. They were always getting contracts and most of that was due to their strong republican ties. So how the hell do you figure that they made some kind of deal with the devil named Mary that might ruin their family business? I can't figure it out.
They sold at a good time to a family member backed by local $$$.
I did business with them and was heavily involved in contracts with them around 2004. Boysie brought in a big time guy in the industry around that time with dreams of taking the company public.
Bad timing since they stepped on their cock with the coast guard refurb project with those small cutters. That and Northrup Grumman and the whole fck up of the contracting strategy for all of the new boats at that time kind of messed them up.
Posted on 12/23/14 at 6:18 pm to notiger1997
quote:
commercially and for the Navy and CG since the late 40's. They were always getting contracts and most of that was due to their strong republican ties. So how the hell do you figure that they made some kind of deal with the devil named Mary that might ruin their family business? I can't figure it out.
I don't know, that's why I put a question mark at the end of my post. I just think it's pretty lame to start calling people immature names when you know nothing about them or their situation.
Posted on 12/23/14 at 6:23 pm to Revelator
Sorry, the non stop political false advertising is annoying.
One good thing I enjoyed from meetings and negotiations was eating on their houseboat a few times. There was a pretty good chef that the family got to know down there, so they hired him to come cook lunches for sr. mgmt every day. They had a houseboat across the street from the shipyard that they had set up for a little restaurant.
Posted on 12/23/14 at 6:28 pm to notiger1997
Posted on 12/23/14 at 6:38 pm to Revelator
I can't tell you it was much fun dealing with them during that time. They kind of got screwed with the way that whole thing went down with Northrop Grumman given the contract authority to manage their ship building operations, so they weren't happy.
I would send letters from time to time to Bollinger about "issues" and they would respond with a CC to the highest ranking folks in the coast guard and various congressmen. That's when you knew you weren't shite.
I would send letters from time to time to Bollinger about "issues" and they would respond with a CC to the highest ranking folks in the coast guard and various congressmen. That's when you knew you weren't shite.
Posted on 12/23/14 at 8:58 pm to notiger1997
Cassidy can't bring home the bacon. Sell the frying pan.
Posted on 12/23/14 at 9:24 pm to notiger1997
quote:
was eating on their houseboat a few times
The 3 story white house boat ? Stayed on that one a few times, fishing for trout and reds out of the pathfinders ! And the wine cellar ! Very nice people and they treat you first class !
Posted on 12/23/14 at 11:12 pm to bayouman
you have to be a real idiot do even think that bollingers sold because of landrieu
this deal has been in the works for a year
this deal has been in the works for a year
Posted on 12/23/14 at 11:24 pm to roguetiger15
quote:Bull! It didn't take more than a few weeks for buyout agreements to be reached for the purchase of banks much larger than Bollinger Shipyards in 2008.
do you guys really think it takes 3 weeks to come to a buyout agreement of this large a size? it takes a year and a half at the least.
Posted on 12/24/14 at 7:54 am to ihometiger
quote:
Hopefully they rename the shipyard too to rid itself of the horrible reputation it justly received from those ships they built for the Coast Guard that made Sunfish sailboats look seaworthy.
Speaking of, they've got BIG problems with FedGov over claims they falsified data during contract performance (specifically with the structural integrity of said boats). They had the case dismissed but the 5th Circuit reversed the dismissal.
LINK
Boysie gets mentioned by name as someone who may have falsified the data himself.
This post was edited on 12/24/14 at 8:02 am
Posted on 12/24/14 at 8:41 am to Quidam65
quote:
Speaking of, they've got BIG problems with FedGov over claims they falsified data during contract performance (specifically with the structural integrity of said boats).
If they are found guilty, I hope the feds throw the books at Boysie.
I really thought with all of his power he would never be formally investigated about those boats.
It was really a very strange situation with how those boats were refurbed. At the time there was a huge power struggle within the ranks of the coast guard and I really had the feeling someone wanted the project to fail from the beginning.
The first set of sea trials or some similiar event was done in basically tropical storm like conditions with huge waves and they ran the boat too fast and the cracks in that hull were found after that.
That's kind of the way my fussy memory is on that issue.
Posted on 12/24/14 at 9:34 am to notiger1997
Per the opinion the plan was to refurbish the boats AND to add an additional 13 feet to the hulls to make them usable to the CG.
That's where everything appears to go wrong--when adding the 13 feet it caused the integrity of the hull to be compromised without doing more (and more expensive) work. So (per the opinion) Boysie crunches some numbers and comes up with a set that will keep the CG happy AND not make him spend more $$$ (if it was a fixed price contract he's stuck with overages). When called out on them, he agreed to get an outside firm to verify them but never did.
Looks like Boysie may have to sell the yard to pay the lawyers (and the Feds if they sustain their False Claims Act charges)
That's where everything appears to go wrong--when adding the 13 feet it caused the integrity of the hull to be compromised without doing more (and more expensive) work. So (per the opinion) Boysie crunches some numbers and comes up with a set that will keep the CG happy AND not make him spend more $$$ (if it was a fixed price contract he's stuck with overages). When called out on them, he agreed to get an outside firm to verify them but never did.
Looks like Boysie may have to sell the yard to pay the lawyers (and the Feds if they sustain their False Claims Act charges)
This post was edited on 12/24/14 at 9:35 am
Posted on 12/24/14 at 9:41 am to Quidam65
Whatever the lawyer fees and penalties might be, I'm sure that is pocket change to him.
Posted on 12/27/14 at 12:51 pm to notiger1997
The deal will be around 2 billion. Just FYI. Not bad.
Posted on 12/27/14 at 1:00 pm to roguetiger15
quote:
The deal will be around 2 billion.
Damn!
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