350 jobs to go at Princess - large scale restructuring.

jfm said:
EXCEPT that the big losses are on the bigger stuff
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How do you know that? I thought the whole business case for moving into building the bigger stuff was based on the fact that margins are supposed to be healthier at that end of the market
 
benjenbav said:
If that person starts with a 43 and finds that it is worth diddly in the open market as a 2y/o except that it is worth 75% of the price of an all-new 45, chances are they'll trade up and up, right to the point when the music stops.
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Isn't that the marketing strategy of all production boat builders?
 
Deleted User said:
Isn't that the marketing strategy of all production boat builders?
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...And aren't their finances often a little bit creaky unless they have billionaire backers?

One of the difficulties of trying to create a micro-economy which isn't checked by supply/demand market forces.
 
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benjenbav said:
...And aren't their finances often a little bit creaky unless they have billionaire backers?
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IIRC we have agreed before that production boat building is a really lousy business to be in from so many points of view and not an industry you'd willingly choose to sink your hard earned cash into unless you're a Chinese billionaire happy to have a boat builder as a trophy company
 
Deleted User said:
IIRC we have agreed before that production boat building is a really lousy business to be in from so many points of view and not an industry you'd willingly choose to sink your hard earned cash into unless you're a Chinese billionaire happy to have a boat builder as a trophy company
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Problem is its only really Sunseeker that has the Trophy value IMHO. Princess need to get some more Sleb owners and work on their product movie placement (e.g. Bond movies) to get into the Trophy category. As I've said before, its very difficult to 'out Sunseeker' Sunseeker as they do it so well.
 
Deleted User said:
IIRC we have agreed before that production boat building is a really lousy business to be in from so many points of view and not an industry you'd willingly choose to sink your hard earned cash into unless you're a Chinese billionaire happy to have a boat builder as a trophy company
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When you put it like that it sounds like football clubs. Once upon a time we thought we'd struck gold with a US credit card magnate. But now that we're looking like being the best club in the SkyBet Championship we could do with someone new. No takers, I gather.:D
 
"Is there really a need for 43, 49, 52, 56, 60, 64, 68, 72, 75, 82, 88 and 98 models!? "

One attractive 30 footer in the range might generate long term profit, even if it had to be knocked out at cost.
 
jfm said:
BTW, I don't know but I thought 75 replaces 72.
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I'd have thought so as well, but the PMYS quarterly magazine I received today has feature articles on both the 72 and the 75. It may of course be that PMYS still have a stock 72 on order, so are trying to generate some interest.
 
benjenbav said:
When you put it like that it sounds like football clubs. Once upon a time we thought we'd struck gold with a US credit card magnate. But now that we're looking like being the best club in the SkyBet Championship we could do with someone new. No takers, I gather.:D
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You need some N Italians with business sense;)
 
petem said:
Problem is its only really Sunseeker that has the Trophy value IMHO. Princess need to get some more Sleb owners and work on their product movie placement (e.g. Bond movies) to get into the Trophy category. As I've said before, its very difficult to 'out Sunseeker' Sunseeker as they do it so well.
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Pete,

Sunseeker do most things exceedingly well, it"s just that people do not wish to accept the fact.

Mr Braithwaite has proven to be a very honest and clever man with great foresight who was ridiculed for making boats for the bling bling market.

Look who wants to copy him now.
 
DougH said:
Pete,

Sunseeker do most things exceedingly well, it"s just that people do not wish to accept the fact.

Mr Braithwaite has proven to be a very honest and clever man with great foresight who was ridiculed for making boats for the bling bling market.

Look who wants to copy him now.
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I agree Doug. Fifteen years ago I thought their image was a bit dodgy, I don't now. Of the big 4 UK builders I have no doubt they will be the last man standing.
 
Excellent - they've followed the advice of this forum! http://www.ybw.com/news-from-yachti...-boss-named-chairman-of-princess-yachts-16607

"Executive chairman", as opposed to chairman, means the boss, ie the CEO. Gates has a new boss.
This is excellent news for Princess - they needed new management badly because recent history has just been too accident prone for too long. I hope Mr Sheriff is able to pull off a great turnaround of the company's financial performance while keeping their great model line up - best of luck to him.

(As for following this forum's advice, they just need a few internal staircase options and our work here is done!)
 
Interesting appointment, and perhaps Princess feel it appropriate to follow Sunseeker, with a senior person from the UK auto business. I wish Princess every success.
 
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