JUNE 10TH, 2009
By JON MOHR
By JON MOHR
Alphabet of the recovery
Add another letter to the alphabet economists have created to try and predict the economic recovery. I was familiar with the “V-shaped” pattern historically followed during most downturns – a sharp decline followed by a quick rebound – as well as alternatives that more closely resembled “U” or “L” – the latter being a period of sustained stagnation. But some experts are beginning to believe “W” is the route our economy is most likely to follow on its way to recovery. (And no, that’s not some sort of slam on the guy who typically gets the blame for putting us in this mess…). Read more >>
By Chris Kourtakis, Owner, H20 Limos Marine Service — With the recent announcements of Chrysler closing up to 800 dealers and GM a possible 1,500 dealerships, will this hurt of help the marine industry? More people keep focusing on the negative, but as we all know there is a silver lining to everything. 
Over the past week, it has been hard for the marine industry to avoid the bad news. Genmar Holdings’ Chapter 11 bankruptcy filing last Monday – and predictions of more to come – has deflated some of the hope created by recent positive economic indicators. But regardless of the fall-out we’re likely to see as the year progresses, we know there will be many survivors. And one of the most effective strategies for survival is diversification. 
Small businesses have an advantage in this economy. So wrote Harvard Business blogger Peter Bergman in 
Of all the talk about this recession, there’s one question, of course, that no one can really answer: When will it end? But the most important question to our businesses right now may be: Has it already ended? The answer to that, according to a news report I read last night, might surprise you. 
At the Marine Dealer Conference & Expo last November, Brunswick CEO Dusty McCoy said [and I'm paraphrasing here] that while many of the recessions the U.S. economy has endured in the past are V-shaped (the economy drops quickly, bottoms out, then rebounds steeply as well) he expects our current recession will be more U-shaped – meaning we won’t experience that quick bounce back. McCoy also said at the time that the economy was still on the left-hand side of the “U” and had not yet bottomed out. Where the economy stands today, some five months later, is a matter open for debate (if you would like to weigh in, please post a comment below), but if the latest Beige Book report issued the U.S. Federal Reserve is any indication, there are signs the economic freefall we’ve been in seems to be slowing, at least in some parts of the country. 
My four-year-old son broke his arm playing in the yard last week. While he was incredibly brave in the hours and days that followed, it has changed him. As the pain has receded, he’s begun thinking out loud about how he’ll avoid breaking something else, as have his father and I. We want him to go back to having fun like he used to, but none of us wants to go back to the hospital anytime soon. The boating industry is in a similar situation. While I’m not sure the pain is receding yet, we know it will, at least to some degree. And we’ve all been thinking, whether to ourselves or out loud, about how we and our businesses will change as the industry rebounds. 