Raymarine / Garmin

[Danny_Labrador]

Is it possible :


More here

http://business.timesonline.co.uk/tol/business/industry_sectors/technology/article6797705.ece

Seems sad

 

[Sans Bateau]

I seemore expensive equipment in the future!!!

 

[jonjo]

And so continues the tragic post war story of the decline of UK manufacturing. Raymarine has been destroyed by short-sighted City finance, no wonder the Germans and French are skeptical of the anglo-saxon capitalist model.

 

[lw395]

And so continues the tragic post war story of the decline of UK manufacturing. Raymarine has been destroyed by short-sighted City finance, no wonder the Germans and French are skeptical of the anglo-saxon capitalist model.

Raymarine, previously known as Autohelm, and Nautech, has been bought by Americans- the mighty Raytheon Corp, in the past. They later got rid of it.

As a British company, it moved a lot of manufacturing offshore.
A merger or buyout by a company such as Garmin is probably the best option for any hope of investment in new products, whereas as an independent British company, it spent an awful lot of cash on a shiny new HQ.

Wonder if the shares will go up much tomorrow?

 

[lw395]

And so continues the tragic post war story of the decline of UK manufacturing. Raymarine has been destroyed by short-sighted City finance, no wonder the Germans and French are skeptical of the anglo-saxon capitalist model.

A better example of the ongoing sell-out might be Suunto's acquisition of TackTick.

 

[lw395]

I seemore expensive equipment in the future!!!

I'm not sure. Raymarine stuff did not seem to be particularly good value. I suspect the market is still open to a genuinely innovative manufacturer. Look at how much TackTick have achieved from nowhere in a short time. There is a world market for many marine electronic items, but Korean fishing boats etc don't want to pay Raymarine prices for a depth sounder or autopilot.

 

[grafozz]

£93.5 m loss !

How does a company that charges , by comparison , so much for its products declare a £93.5 m loss ???? bad management is the only conclusion I can come up with !

 

[jason -and the arguenauts]

A better example of the ongoing sell-out might be Suunto's acquisition of TackTick.

They are both good examples of the collapse of British industry but dont forget that it affects every area of the conomy from supermarkets (Asda) to banks (Abbey and most of the city) to manufacturing (easier to name what remains British) to services ( the leccy and water companies). The govt just doesnt realise that the nationality of a company matters in real practical terms. So they allow a one sided system where foreigners can buy British firms but its way more difficult to do it the other way round.

 

[doris]

And so continues the tragic post war story of the decline of UK manufacturing. Raymarine has been destroyed by short-sighted City finance, no wonder the Germans and French are skeptical of the anglo-saxon capitalist model.

Yeah absolutely. You obviously do not understand markets and regulation.

The wonderful German system saw Porsche try and nick VW only to bust itself and find itself the biter bitten. That wondeful ego driven bear squeeze could not have happened in the UK or US.

There are now many more providors of top quality electronics than ever before, the result of working, inovative markets. Garmin are new to sailing electronics and do not have a full house yet but with RM will have some terrific kit. The quality of RM kit has gone through the floor in recent years as they have moved production to E Europe anyway so this should be a v. good news for all of us.

 

[Alfie168]

Whilst I'm sorry to see TacTic gobbled up, there was probably no alternative for a young small startup company with a niche market advantage that could only be temporary, before the big boys use the economies of scale to smother them.

Raymarine..well I don't know much about them, but have not read glowing comments on here. Its still a shame that they can't succeed alone.

Tim

 

[David_Jersey]

The wonderful German system saw Porsche try and nick VW only to bust itself and find itself the biter bitten. That wondeful ego driven bear squeeze could not have happened in the UK or US.

Is that because the UK & US do not have any car manufacturers that anyone would want to buy?

 

[jonjo]

A better example of the ongoing sell-out might be Suunto's acquisition of TackTick.

I don't know the details but they sound like very different take-over scenarios.

When a small technology company feels that the innovation cycle is fizzling out and market growth is best continued under the wing of a large industrial owner, then a sell out can make perfect sense. When timed correctly the small company is in the driving seat and it can obtain a good price. I was part of such a process, a 60 man UK company was sold to the US for $45 million, 7 years later the technology team is still resident in the same UK office and the US funded salary bill during the post sell out years has amounted to another £16 million flowing into the UK.

Raymarine is completely different. The financial re-engineers of the City got their claws into Raymarine 6? years ago and seduced the management with pots of cheap-credit. Manufacturing was offshored, product quality fell, a swanky new HQ was ordered, product development lost focus then finally the credit crunch arrived and crippled the whole sickly over mortgaged corporation.

The share price had plummeted 97% last time I looked. It is a perfect example of short-term anglo-saxon City greed destroying traditional capitalism now forgotten here but still practiced in China, France and Germany.

 

[jonjo]

Yeah absolutely. You obviously do not understand markets and regulation.

The wonderful German system saw Porsche try and nick VW only to bust itself and find itself the biter bitten. That wondeful ego driven bear squeeze could not have happened in the UK or US.

There are now many more providors of top quality electronics than ever before, the result of working, inovative markets. Garmin are new to sailing electronics and do not have a full house yet but with RM will have some terrific kit. The quality of RM kit has gone through the floor in recent years as they have moved production to E Europe anyway so this should be a v. good news for all of us.

You obviously have no understanding of the sequence of events that destroyed RM. Do you actually want to pin your colours to a discredited version of City capitalism that can wipe 97% off the value of a business and a system that has also improverished this nation for 20 years due to its emergency resuscitation?

 

[doris]

You obviously have no understanding of the sequence of events that destroyed RM. Do you actually want to pin your colours to a discredited version of City capitalism that can wipe 97% off the value of a business and a system that has also improverished this nation for 20 years due to its emergency resuscitation?

The city makes finance available, no-one forces anyone to sign up. The management of RM and their egos blew it, in spades. If you would rather have socialism and state control of finance then there would be no need for RM 'cos none of us could afford boats. But then maybe you would prefer the nanny state.

 

[jonjo]

But then maybe you would prefer the nanny state.

You mean like France? Yes please.

If we don't face up to glaring facts or recent events and this country stumbles down the current road we will both be faced with National Socialism. The people are angry, look at the BNP election results.

The demise of RM is a microcosm of the recent malfunction of this country.

 

[lw395]

Well the shares are back down to 16p, having been up to 22p this morning. So perhaps a few speculators have been singed.