MAY 20TH, 2009
By JON MOHR
By JON MOHR
Stimulating discussion
With the news this week that the U.S. Small Business Administration will begin an interest-free loan program that provides up to $35,000 for small businesses facing immediate financial hardship, the federal government has taken a step that could offer immediate assistance to many marine businesses around the country. But will it help you, or any of the businesses you know? And, with the billions being spent on economic recovery, have you seen any of the benefits at your company, or in your area? Read more >>
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. 