It's Official.....Brunswick is Junk

TurtleTone said:
Oh, I forgot to tell everyone. Some slime ball tree hugger keyed my truck and stuck a gas hog sticker on it. What's the best way to run 10,000 volts to the exterior of a truck?
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That is *exactly* the kind of devisiveness that is killing our country.

I may disagree with (some of) Gary's politics, but I would never deface Mike's property because of it. :)

Pirate said:
You can get a spark plug coil from an old car like a model T (look in Hemmings Motor News for suppliers) and connect it to the frame. You can hide a switch or connect it to a relay on a remote. It makes the entire car (at least anything metal) shock you like a spark plug. It worked beautifully on my Jeep. It's illegal, but :huh:....
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Is it ok if you put appropriate warning stickers on the vehicle?

"This vehicle is improperly grounded. Do not touch without appropriate NEC approved Personal Protective Equipment"
 
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Pirate said:
You can get a spark plug coil from an old car like a model T (look in Hemmings Motor News for suppliers) and connect it to the frame. You can hide a switch or connect it to a relay on a remote. It makes the entire car (at least anything metal) shock you like a spark plug. It worked beautifully on my Jeep. It's illegal, but :huh:....
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Thanks Matt, I will look into it.

I know what we can do, we can ship all the tax loving liberals to Canada since it's already in place there, and leave America to the "Work a day, get paid a day" people. Plenty of trees in Canada to hug. I hear the dental care is top notch too.

maybe i'm jaded, well I know i'm jaded, but living in NYC and seeing what goes on here amongst "the people"... I could care less if they can't afford new Jordan's. Wear 10 year old work boots like I do.

As far as food and heat, well i pretty much have no choice there either. Walk into any fast food joint and look who's in there. What they spend on a super sized value meal, I eat well with for a whole day. Tax my assets because I saved and bought them? Bite me! If one more person comes up and asks me for a dollar, i'm going to punch them and their mother.

Ahhhh, I feel better now.
 
Posted by Comsnark There would be no "social security crisis" if the wage tax went ONLY to social security as required by law, and not "general revenue" as is general practice.

Are you saying that there is no separate accounting for money collected through the social security tax?
 
All those years I've been told to live without debt from my dad and grandparents. They were wrong and I got the formula right. Financed the BMW, leased the Mercedes, financed the boat, the business. I'm poor. Obama man is going to get me more cash for gas next season! Biden even says I can renegotiate my principal! Key Bank, I want to cut my principal by 50%! Washington Mutual, let's do 40% on the house! What a country! I'm going to have a party! I'm staying under that $250,000 and reinvesting in the business for the next 4 years until Obama destroys the Democratic party. Then I'm selling and retiring!
 
Woody said:
Posted by Comsnark There would be no "social security crisis" if the wage tax went ONLY to social security as required by law, and not "general revenue" as is general practice.

Are you saying that there is no separate accounting for money collected through the social security tax?
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Heh.

My understanding is as follows: The classic definition of "social security going broke" is when the current wage tax is no longer high enough to cover the outgoing payments.

The fact that the wage tax has been running a surplus for the last few decades is usually not discussed in this context.

The concept of lowering the current wage tax to match current payments is also not discussed.

heh

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I am trying to find fault in Mike of the JuliaValentine logic. Not having much luck. The other day, a friend was telling me about someone who told his kids to "take everything now before I go" because he had racked up $200k in credit card debt, and was not planning to stop.
 
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comsnark said:
Heh.

My understanding is as follows: The classic definition of "social security going broke" is when the current wage tax is no longer high enough to cover the outgoing payments.

The fact that the wage tax has been running a surplus for the last few decades is usually not discussed in this context.

The concept of lowering the current wage tax to match current payments is also not discussed.

heh

- - - - - --

I am trying to find fault in Mike of the JuliaValentine logic. Not having much luck. The other day, a friend was telling me about someone who told his kids to "take everything now before I go" because he had racked up $200k in credit card debt, and was not planning to stop.
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Originally Posted by Woody
Posted by Comsnark There would be no "social security crisis" if the wage tax went ONLY to social security as required by law, and not "general revenue" as is general practice.

But what do you mean by this?
 
Woody said:
Posted by Comsnark There would be no "social security crisis" if the wage tax went ONLY to social security as required by law, and not "general revenue" as is general practice.
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Close but no cigar. The problem with social security in not the retirement income portion. That could be fixed with relative ease by balancing the budget, for example, and not diverting that tax to the general fund. Medicare is the real issue with social security. The health care costs of the baby boomers will overwhelm the program in the not too distant future. No Congress has the guts to deal with this because the members want to get re-elected. The 44% who pay no taxes will continue to elect people who give them money from the rich people Barney Frank is talking about.
 
Social Security as a source of supplemental income in one's retirement years was a neat solution when the actuarial age of death was a little over 65 and there were 30 workers paying into the pot for every retiree, as was the case pre WWII. Now the actuarial age for the average retiree is well up into the 80's, and we are fast approaching the point where there will be only 3 workers per retiree. Yeah, you can increase the social security tax rate to make that system solvent, but if we double the social security tax rate, how many more people will opt out of the system and work for cash or barter?

In many European countries, the average Joe has an official job where he works and pays very high income taxes and gets free health care and other bennies. And old Joe also has a side job where he makes the cash money he needs to live on and to enjoy his annual trip to the beach.

Is this where we are headed? Is it where we want to go?
 
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comsnark said:
That is *exactly* the kind of devisiveness that is killing our country.

I may disagree with (some of) Gary's politics, but I would never deface Mike's property because of it. :)



Is it ok if you put appropriate warning stickers on the vehicle?

"This vehicle is improperly grounded. Do not touch without appropriate NEC approved Personal Protective Equipment"
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It's Bush's fault... and that means McCain approves of it too.
 
Whatever happened to Brunswick is Junk? :grin:
 
tmhudson2 said:
Social Security as a source of supplemental income in one's retirement years was a neat solution when the actuarial age of death was a little over 65 and there were 30 workers paying into the pot for every retiree, as was the case pre WWII. Now the actuarial age for the average retiree is well up into the 80's, and we are fast approaching the point where there will be only 3 workers per retiree. Yeah, you can increase the social security tax rate to make that system solvent, but if we double the social security tax rate, how many more people will opt out of the system and work for cash or barter?

In many European countries, the average Joe has an official job where he works and pays very high income taxes and gets free health care and other bennies. And old Joe also has a side job where he makes the cash money he needs to live on and to enjoy his annual trip to the beach.

Is this where we are headed? Is it where we want to go?
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A key point is that SS was intended to be a supplement. So many some how think SS is supposed to fullfill all their retirement needs.

The annual federal spending is already at approx 60% for social programs. Add 22% for defense, 9% for interest on debt and there isn't alot left to do everything else. I know I don't like where we're heading.
 
midway said:
Whatever happened to Brunswick is Junk? :grin:
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:smt009


Brunswick reports net loss of US$591 million
By IBI Magazine
Brunswick Corp. today reported net sales of US$1.03 billion for its quarter ended September 27, 2008, a 22 per cent decline compared to the same period a year ago. The company reported a net loss of US$591.4 million compared to net earnings of US$1.9 million a year ago. The company said in a statement that its marine sales were off by 28 percent in the quarter.
"The marine market in the United States is becoming increasingly challenging due to difficult economic conditions, financial market upheaval and tightening credit availability, on top of the continuing weak housing market," said Dustan E. McCoy, chairman and CEO in the statement. Retail demand in the US for fiberglass boats in Brunswick's "key segments" dropped by nearly 40 per cent in the third quarter, said McCoy, adding that there has also been a slowdown in demand outside the US.
Its Boat Segment had sales of US$392.5 million for the quarter, down from US$613.9 million a year ago. It reported an operating loss of US$537.4 million, which included trade name impairment charges of US$477.0 million and restructuring charges of US$15.8 million.
"During the quarter, we continued to decrease production throughout our marine operations in an effort to reduce the number of boats held by our dealers," said McCoy. "This included a month-long furlough, during which we halted production at virtually all of our U.S. fiberglass boat manufacturing plants. While this was the right thing to do, it resulted in sales for our major fiberglass brands being down 50 percent in the quarter."
McCoy said that Brunswick reduced the number of fiberglass boats held by its dealers by 1,400 during the quarter. "There remain 36 weeks of supply of fiberglass boats in the pipeline, down one week from the end of June 2008, but up nine weeks compared with the end of September last year," McCoy said. "As announced earlier this month, we will begin closing or furloughing seven fiberglass boat plants in the fourth quarter to continue to address the pipeline inventory situation."
The Marine Engine segment reported sales of US$448.9 million, down 21 per cent compared to the same quarter last year. The segment had an operating loss of US$8.6 million, which includes US$4.5 million of trade name impairments and US$12.9 million of restructuring charges.
"Sales were down in all business units in the Marine Engine segment in the quarter, most notably sales of sterndrive and outboard engines in the United States, which were down 39 percent," McCoy said. "Consistent with actions taken in the Boat Group, Mercury also cut production rates and instituted plant furloughs. Reduced fixed-cost absorption on lower sales had an adverse effect on operating earnings."
Despite the industrywide downturn and weak US economy, McCoy says that Brunswick's cost-cutting initiatives are showing positive results. "Given this environment, limiting our loss from operations to US$0.33 per diluted share before charges and ending the quarter with a significant cash balance is commendable and reflects the hard work of individuals across the entire Brunswick organization," said McCoy. "Our cost reduction activities are taking hold and a relentless focus on managing the balance sheet is evident in our results."

(23 October 2008)
 
Sounds like they are close to getting a hold on the situation, doing what has to be done to survive, still going to hurt a lot of people. Just not much they can do.
 
KayKook said:
:smt009


Brunswick reports net loss of US$591 million
By IBI Magazine

Its Boat Segment had sales of US$392.5 million for the quarter, down from US$613.9 million a year ago. It reported an operating loss of US$537.4 million, which included trade name impairment charges of US$477.0 million and restructuring charges of US$15.8 million.

The Marine Engine segment reported sales of US$448.9 million, down 21 per cent compared to the same quarter last year. The segment had an operating loss of US$8.6 million, which includes US$4.5 million of trade name impairments and US$12.9 million of restructuring charges.

(23 October 2008)
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Sounds to me like they are taking advantage of the 'bad economy' to write off intangible assets they've kept on their books longer than was warranted. These are non-cash charges, and writing them off now will allow Brunswick to report losses now and book comparatively decent numbers later.
 
Just as comparison, BOE marine, owner of clubsearay.com had earnings during its most recent quarter that that exceeded the earnings of Brunswick by more then $500 Million.

When the companies owner Jim Maier was asked if there was going to be a celebration of their financial success the owner replied “You bet. For lunch I’m upgrading to the biggie fries and biggie drink.”
 
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