MRAA applauds passage of the Red Tape Reduction and Small Business Job Creation Act

MINNEAPOLIS — The Marine Retailers Association of the Americas thanks the 245 Members of the House of Representatives who stood for small businesses everywhere by passing H.R. 4078, a comprehensive regulatory reform bill that streamlines the time consuming rulemaking and permitting process, brings transparency to rules issued by federal agencies, and prohibits agencies from issuing a cascade of regulations when a change in administrations occurs.

The bill would also create a process to give the public the meaningful voice it is supposed to have in the rulemaking process. Thirteen Democrats joined House Republicans in supporting H.R. 4078 in the July 26 floor vote.

“We applaud House Members for passing this important legislation, which is a first step on our road to making government more transparent and to simplifying the rulemaking system that has been growing at a rapid rate for many years,” says Dave Foulkrod, MRAA Chairman. “MRAA now urges the Senate to swiftly follow the House leadership on this bill. Passage of regulatory reform legislation to reduce the cost of complying to federal laws is a key goal for MRAA’s legislative agenda.”

H.R. 4078 is the first attempt by Congress to pass regulatory reform to reduce the crushing burden on businesses and promote a positive policy to help jumpstart our economy since the 1980s.

Get the Most Out of Your Service Department

Learn how to get the most out of your service department at the 2012 Marine Dealer Conference & Expo. Here are overviews of two of the sessions to be included in the Service & Marina Track at this year’s event, to be held Nov. 11-14 in Orlando.

Tuesday, November 13

Winning the War for Trades Talent, by Neal Harrell
As the boating market begins to recover, are you finding it more and more difficult to recruit skilled workers for your service department? Make sure to attend this session. You will learn tactics your dealership can employ to recruit, train and retain a high performance team.

Taking Your Service Department to the Next (Profit) Level, by Valerie Ziebron

If you’ve survived this recession, you probably have a decent service department. You measure technician efficiency. You track customers’ satisfaction with the service experience. And you probably make a little profit for the dealership in the process. But chances are you’re still leaving money on the table, right? This session can help. You will uncover strategies for turning your service department into a high performance profit machine.

 

MRAA Members save $50 PER EMPLOYEE off of the regular registration rate!

 

The event brochure, complete with individual session info, is available here.

To take advantage of the $399 Early Bird* rate, click here to register.

*Early bird rate is valid until September 14, 2012. Beginning September 15, 2012, standard registration rate is $449. MRAA members will still receive a $50 discount, but the discount will be taken off of the $449 rate.

Congress looks at repeal of Estate Tax

Congress is busy looking at repeal of the Estate (Death) Tax.

Congressman Kevin Brady (R-Texas) is taking the lead in the House of Representatives and issued a press release on July 26 to release a study by the Joint Economic Committee Republican staff called “Estate Tax Fails on All Fronts.”

The Estate Tax threshold of $5 million and a reduced tax rate from 55 percent to 35 percent is part of the Bush Tax Cuts. However, Congress is looking at some very political legislation prior to the November elections. Most D.C. insiders believe Congress will more seriously look at all the Bush Tax Cuts in a Lame Duck session after the elections.

MRAA has long worked to permanently and totally repeal the Estate Tax, which places an unfair tax on the estates of small business and farm owners and oftentimes causes the property to be sold to pay the tax. Most recently, MRAA signed onto to a letter with other national trade associations and the U.S. Chamber of Commerce expressing its support of the Brady Bill (H.R. 1259) and Estate Tax repeal.

The Brady Bill has 218 co-sponsors in the House of Representatives. On July 26, Congressman Brady also hosted a special call-in press conference on repeal of the Estate Tax. MRAA attended the press conference. Senator John Thune (R- SD), who introduced a companion bill to H.R. 1259 in the Senate (S. 2242) with 37 co-sponsors, also attended the press conference.

Phone conference on Death Tax scheduled for today

New Study: “Cost & Consequences of the Federal Estate Tax”

WASHINGTON, D.C. — Congressman Kevin Brady, the author of the House bill to End the Death Tax Permanently, is releasing a major study Wednesday morning from the Joint Economic Committee Republicans that proves the Death tax is harmful and ineffective taxation that hinders entrepreneurship, hurts future revenues, and robs capital out of the free market.

Since its creation in 1916, the federal estate tax has robbed as much capital stock from the American economy ($1.1 trillion) as it has generated in federal revenue ($1.2 trillion), which doesn’t even capture the punitive compliance burden. The Death Tax not only fails to decrease inequality, it perversely creates a barrier to upward mobility for family-owned small businesses, farms and ranches.  

What: Telephone News Conference
Who: Texas Congressman Kevin Brady will be joined by Sen. John Thune (R-SD), the author of the Senate bill to permanently end the Death Tax, House co-sponsor Congressman Devin Nunes (R-CA), middle class farmers, ranchers and small business people affected by the Death Tax
When: Wednesday, July 25, 2012 @ 10:30am ET
Call-in Number: 800-857-7944 (Password: Texas)

Congressman Kevin Brady is the top Republican on the Joint Economic Committee and a senior member of the House Ways & Means Committee. Sen. Thune is the Chairman of the Senate Republican Conference and a member of the Senate Finance Committee.

MDCE will Power your Profits!

Here’s a sneak peek at some of the tracks from the Marine Dealer Conference & Expo’s 2012 Powering Profits Track. The track features all-new topics for this year, and will provide you a well-rounded view into drive additional profitability to your dealership. Here are four of the tracks that will be featured.

Tuesday, November 13

Growth: How to Know When You’re Ready, by David Spader
Should your dealership seek stability or growth? Attend this seminar to receive the tools to answer this critical question. You will receive a list of key numbers and measures to guide you in deciding whether to focus on stability or growth; a self-assessment that allows you to rank your dealership in regards to its readiness for stability and growth; and a business development model designed to map out the next step to healthy, strong and stable growth for your company.

An attendee favorite! Best Ideas Panel, moderated by Mike Davin
What are the most effective strategies dealers have discovered to find success in today’s market? Find out in this seminar! You’ll walk away with some of the industry’s best ideas, plus receive tips and advice on how to implement these proven practices from the dealers that have put them to work in their business and reaped the rewards. At the end of the session, you’ll have a chance to vote on the single best idea.


Wednesday, November 14

Techniques for Boosting Repeat Business, by Sam Dantzler
To maximize profitability, you need to embrace strategies to retain current customers, driving repeat business at every opportunity. In this session, Sam will share proven customer relationship management strategies used by leading Harley dealers in areas such as lead capture, customer follow-up, events and staff training.

Pricing Strategies to Maximize Sales & Gross Margins, by David Parker
There are several pricing strategies in the marine marketplace today. Learn how to maximize each of the four most common and discover which one actually provides the best return in sales and gross margins.

The event brochure, complete with individual session info, is available here.

To take advantage of the $399 Early Bird* rate, click here to register.

Singleton Marine Group continues to expand

DADEVILLE, ALA. — The Singleton Marine Group continues to fulfill its expansion plans with the acquisition of Darrel Moore’s Marine in Spring, Texas. With the recent purchase of Phil Dill in Dallas, the Dadeville, Ala.-based firm is fulfilling its mission statement of steady growth through better customer service, and the acquisition of new facilities that buy into the promise of not being the biggest, but the very best boat dealer in the world.

“Through the decades, Moore’s Marine has established a sterling reputation for the finest in customer service, earning multiple Top 10 Dealer awards from a wide range of manufacturers,” says Anthony Aisquith managing partner of Singleton Marine. “Our relationship with our manufacturers offers us a unique opportunity to expand into other markets nationwide. This dealership displays the long-term characteristics that will allow us to continue our expansion and maintain the high level of customer satisfaction that has made us an industry leader.

Humble beginnings define the organization. Singleton Marine Group began, like many dealerships, as a mom-and-pop operation in 1989. Philip Singleton was managing road construction and development around the Lake Martin resort area when he started the company. Encompassing 11 locations in four states including Blue Creek Marina in Dadeville, Ala.; Parker Creek Marina in Equality, Ala.; Singleton Marine of Atlanta in Buford, Ga., with three locations; Keowee North Marine in Salem, S.C.; SMG at Boats with Gusto in Greensboro, Ga.; Phil Dill Boats in Lewisville, Texas; Waterfront Marina in Eatonton, Ga.; and The Cliff’s Marina in Travelers Rest, S.C.

Singleton Marine Group is the world’s largest dealer for Cobalt Boats, Harris Pontoons, Regal boats and Yamaha Jet boats. They are a top 5 dealer for Malibu Boats and represent the Carver/Marquis line. They have recently begun a new relationship with Bennington Pontoons and Zodiac Inflatables. They continue to be recognized as one of the top boat dealers in the country by Boating Industry magazine, ranking in the top ten this past year alone.

For more information, please contact:

Anthony Aisquith
1-877-889-BOAT (2628)
anthony@singletonmarinegroup.com
www.singletonmarinegroup.com

Buckeye Marine to open location in Muskoka

BOBCAYGEON, ONT — On July 14th, Buckeye Marine officially opened the Muskoka Boat Gallery at 1112 Juddhaven Rd., Minett, ONT.

“We are excited to be expanding our sales operations into the Muskoka area. We feel that this will allow us the opportunity to explore a new market and expand our MasterCraft and pre-owned boat sales into a new and exciting market.” said Marketing Coordinator Carly Poole.

“With our new location, Muskoka Boat Gallery, we intend to use the skills and professionalism acquired through 63 years of business at Buckeye to create a premier boat sales facility servicing the Muskoka and Georgian Bay regions. Muskoka Boat Gallery is nestled in the rugged landscape on beautiful Lake Rosseau and is easily accessible and highly visible to boaters. Our facility is located in Wallace Bay surrounded by the notable Red Leaves facility,” said Poole. “As we open our doors, our main focus will be to promote the MasterCraft brand as well as offer the sale of pre-owned boats. Like at our main location, we are dedicated to creating lasting family memories that start with an honest enjoyable sales experience. With a focus on extra-ordinary customer service and integrity, we will work hard to match customers with the best products to suit their boating lifestyle.”

Buckeye Marine is an internationally award winning, family owned and operated boat dealership, which has been located in Bobcaygeon, Ontario since 1949. Our full sales and service dryland facility is conveniently located in the Kawartha Lakes region between Pigeon and Sturgeon lakes on the Trent Severn Waterway. We are proud to offer top of the line boat manufacturers such as Chaparral, MasterCraft, PrinceCraft, Regal, and Zodiac, Yamaha, Mercury, Mercruiser, Volvo and Ilmor. We also offer pre-owned & brokerage boat sales as well as top notch service, boat & engine storage, parts and accessories sales, in-house financing, boating courses, rentals and much more.

For more information on this initiative or other news and events happening at Buckeye Marine, please contact:

Carly Poole
Marketing
Tel: (705)738-5151
Cell: (705) 738-8066
www.buckeyemarine.com

Availability of funds for small business loans to increase?

If the U.S. Federal Reserve follows the lead of the Bank of England, it could help small business get loans from participating banks. Under such a program, the Federal Reserve would give banks very low interest rates on loans to small businesses and home mortgages. This could have a significant impact on marine retailers as availability of funds has been an issue since the financial crisis in 2008.

Click here to read about speculation that the U.S. Federal Reserve may announce the adoption of a similar program during next week’s monetary policy report to Congress.

Incremental gains continue for marine bankers in 2nd quarter ‘12

Overall marine lending volume rose incrementally and an uptick on loans for new boats have been reported by NMBA members in a survey on their activity for the 2012 second quarter ended June 30. The spring report also marks the first reading in the past 18 months where all respondents said boat lending was the same or improved over the previous quarter with the latter group accounting for 89%, highest in the past five quarters.

Observers suggest the readings mirror the increased sales activity being reported by boat builders in the spring. That, in turn, may have been supported by growing consumer confidence and a firming housing market. Marine lenders expect gains to continue into the summer quarter, but are split with slightly more than half expecting growth with the balance eyeing flat activity.

Mild early spring weather may have pulled boat buying earlier into the model year and may also have shifted some borrowing ahead. Survey respondents indicated this when they noted lower credit ratings for borrowers and more tightness by lenders in 2Q, reflecting more demand for loans across all lines. For the balance of the year there may be additional borrowing headwinds with consumer concerns on the economy (especially job prospects), healthcare coverage questions, and expectations of a disconcerting national election atmosphere.

The NMBA introduced the brief quarterly members’ survey in 1Q 2011 to gauge changes in the lending environment and identify trends that could be used for business planning. One-quarter of the NMBA lender members (loan originators/brokers/ financial service firms, banks, credit unions, and finance companies) responded to the 2nd quarter 2012 survey, with the majority having a national presence.

The list of survey questions follows:

How does dollar volume of loans booked 2Q2012 compare to 2Q2011?

89% responded: volume was up

11% responded: volume was the same

What percentage of dollar volume of loans booked 2Q2012 is on new boats?

50% responded: <26%

38% responded: 26-50%

12% responded: 51-75%

What percentage of dollar volume of loans booked 2Q2012 is refinance business?

78% responded: <26%

22% responded: 26-50%

What is your outlook for 3Q2012 compared to 2Q2011?

56% expect loan business to be up

44% expect loan business to be about the same

How does lending criteria 2Q2012 compare to 1Q2012?

11% more stringent

22% less stringent

67% feel criteria is about the same

How does credit quality 2Q2012 compare to 1Q2012?

22% responded they believe credit quality is better

22% responded they believe credit quality is worse

56% responded credit quality is about the same

How has your average boat loan amount changed in 2012 from 2011?

78% responded: increased

11% responded: decreased

11% responded: same

How has your average margin on boat loans changed in 2012 from 2011?

11% responded: increased

22% responded: decreased

67% responded: same

NMBA
231 South La Salle Street
Suite 2050
Chicago, IL 60604
Tel: 312-946-6260
www.marinebankers.org
info@marinebankers.org

No changes made to important boating fund

The following link goes to a very brief section of H.R. 4348, the “Highway Bill” that re-authorizes the Sport Fish Restoration and Boating Trust Fund through 2014. As you will read no other changes were made to this important fund, which was the unified position of the Anglers and Boaters Coalition, which the Marine Retailers Association of the Americas is a part of.

I have not been able to find language in the law pertaining to re-opening of the Harbor Maintenance Fund to fund Corps of Engineers dredging projects. As you may recall, the Administration has frozen the fund in essence stopping all dredging projects of deep water ports and channels so the fund balance can be used to net against the rising federal budget deficit.

You’ll see in the following link that there is a very brief two lines that only change the dates in the law authorizing expenditures to the end of 2013.

Read the bill text.

Larry Innis
MRAA Legislative Affairs