I have heard from a few sources that PDQ has closed it's doors. I have
found this post from another source and I'll post it here. Having met
with many of the fine folks involved with PDQ Yachts, I wish them well.
Sanford Kramer

As a PDQ owner, I received the following email yesterday from one of its
brokers.

"This week we were notified by PDQ management that they were "closing
their doors" until a buyout by new investors can be finalized.

In spite of the PDQ's popularity and success in the market, it appears
that a number of factors have all combined at the same time to force PDQ
into this action.

PDQ's profitability has been eroding rapidly due to the significant
increases in material costs, the historic devaluation of the US dollar
(vs the Canadian dollar) and the recent slowdown in the entire
recreational boating market has effectively dried up new orders. As you
know, pricing on the new PDQ's has escalated in the last twelve months,
but has not kept up with their costs and has left them with insufficient
cash to continue operating.

This is obviously a very sad day for [us], but more so for the
outstanding PDQ employees with which we have had the opportunity to
work. For those of you who have had contact with the PDQ staff, I think
you will agree that we could not find a more professional or dedicated
group of people in the industry! The PDQ team developed an outstanding
product and they were very proud to deliver and support it.

The good news is that [xx], who has been the VP of Marketing, is leading
a buyout of the company by a group of private investors. It will take
some time for the details of this buyout to be completed, but [we are]
optimistic that PDQ will be back in operation, with adequate capital to
continue producing the PDQ product line. We sincerely hope that the new
investors will keep the core design, production, commissioning and
marketing staff intact (that is their plan) as they were an incredible
team and certainly stood out as "the best" in the industry. "

As a prospective PDQ owner, I can verify that the above is true.? I had committed for #115 of the PDQ 34 power cats.? It is sitting? in the plant partially completed and they have stopped their production.???They have refunded my money as they did not want it to become tied up in their financial difficulties.? I am extremely disappointed but very much appreciate their respect for my financial integrity.? I have heard of others who have not been so treated by boat manufactures who have encountered the same problems.

I have also talked with the individual who is working to reorganize the company and hope that he is successful.? There seems to be a strong committment to find a solution and allow the company to continue.? I too have been impressed with the quality of the people and their boats.? Apart from my disappointment, I have nothing but a positive reaction about my experience in dealing with them and about what I have seen from being there and seeng the care and pride with which they do their work.? Many of the people have been there for quiet a long time.

As a resident of the Northwest, I have head that Glacier Bay?has stopped its production and let its workers go.? I don't know the details of their situation.

Tom Green?

-----Original Message-----
From: Sanford Kramer SKramer@SanfordKramer.com
To: power-catamaran@lists.samurai.com
Sent: Mon, 5 Nov 2007 4:32 pm
Subject: [PCW] Trouble at PDQ

I have heard from a few sources that PDQ has closed it's doors. I have
found this post from another source and I'll post it here. Having met
with many of the fine folks involved with PDQ Yachts, I wish them well.
Sanford Kramer

As a PDQ owner, I received the following email yesterday from one of its
brokers.

"This week we were notified by PDQ management that they were "closing
their doors" until a buyout by new investors can be finalized.

In spite of the PDQ's popularity and success in the market, it appears
that a number of factors have all combined at the same time to force PDQ
into this action.

PDQ's profitability has been eroding rapidly due to the significant
increases in material costs, the historic devaluation of the US dollar
(vs the Canadian dollar) and the recent slowdown in the entire
recreational boating market has effectively dried up new orders. As you
know, pricing on the new PDQ's has escalated in the last twelve months,
but has not kept up with their costs and has left them with insufficient
cash to continue operating.

This is obviously a very sad day for [us], but more so for the
outstanding PDQ employees with which we have had the opportunity to
work. For those of you who have had contact with the PDQ staff, I think
you will agree that we could not find a more professional or dedicated
group of people in the industry! The PDQ team developed an outstanding
product and they were very proud to deliver and support it.

The good news is that [xx], who has been the VP of Marketing, is leading
a buyout of the company by a group of private investors. It will take
some time for the details of this buyout to be completed, but [we are]
optimistic that PDQ will be back in operation, with adequate capital to
continue producing the PDQ product line. We sincerely hope that the new
investors will keep the core design, production, commissioning and
marketing staff intact (that is their plan) as they were an incredible
team and certainly stood out as "the best" in the industry. "

Power-Catamaran Mailing List

Email and AIM finally together. You've gotta check out free AOL Mail! - http://mail.aol.com