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Welcome to Norwest Marine
Then all of a sudden it wasn't about fuel; it was about finance. Who knew that an economic meltdown would not only make us forget about pricey petroleum, it would actually bring the price down? The laws of supply and demand. When the economy tanks, people stop buying everything, including fuel.
Looking back, we wonder how some boaters reacted. When fuel passed $5 a gallon, they declared the sport of powerboating dead and called the nearest broker. Thinking that the price of fuel would never come down to "reasonable" levels but would keep going up until we couldn't afford to even drive to our marina, some sold their boats for whatever they could get.
Now, a totally different crowd is scared, this time by the economic car wreck that started on Wall Street and migrated to main street. Desperate to get "Liquid," it is now they who are phoning brokers and listing their boats at whatever price they think will generate a sale.
From all of this we can learn a few things. One, a bubble is a bubble, whether it's in real estate or petroleum. When the price of something goes up real fast, you can bet it will also fall pretty fast. Two, the fish that follows the school stands a much better chance of getting hooked. People who sold their boats at fire-sale prices, have done themslves a disservice. Not only did they take a major bath, but when they decide to get back into boating-and a lot of them will-it's going to cost them dearly.
Third, anyone who sold his or her boat gave up something more important than money. A boat is precisely what we all need in tough times. It's a refuge that can remove you-physically and mentally-from unrelenting work day headaches, if only for a short time. It is an escape, and escape can keep you from going crazy with worry when reality is just too much to bear.
So to you my fellow boaters who kept your boats, congratulations! For whatever reason, you did not-excuse the expression-jump ship. You did the right thing. Even if your boat is on land and wrapped in shrinkwrap, you've still got a place to go and escape. And when the good times return, as they always have, you'll appreciate that beautiful boat-your refuge-even more.
R.T.
PMY
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Norwest Marine
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Norwest Marine 130 Water Street Norwalk, CT 06854, USA Toll-free 877-213-0951 Tel (203) 853-2822 Fax (203) 853-4996 Email Us SCsuntan@aol.com |
Pawcatuck Office 7 River Road Pawcatuck, CT 06379, USA Toll-free 866-471-3674 Tel (860) 599-2442 Fax (860) 599-1168 Email Us |
