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LS-One

Centurion to hire back 25% of work force

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martinarcher

That's good news. Thumbup.gif

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cyoda44

very good news.... now it's time for Malibu to step it up a notch.

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Malibudude

Malibu was as of a few weeks ago building ~6 boats/day and orders looked promising.

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Bake's Marine

That is good news, any plus in this industry right now is a good thing!

-Paul

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Faceplant409

Has Malibu put Merced Back into production??

GOOD news for Centurion BTW!!!

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Bake's Marine

Has Malibu put Merced Back into production??

GOOD news for Centurion BTW!!!

Nope, I think they have to get Tennessee production over 12 a day first. (lets hope that happens soon!!)

It's too expensive to build boats right now in California thanks to Arnold's taxes and the California EPA stuff.

-Paul

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travlnmannn

Nope, I think they have to get Tennessee production over 12 a day first. (lets hope that happens soon!!)

It's too expensive to build boats right now in California thanks to Arnold's taxes and the California EPA stuff.

-Paul

I'd have to say that all politicians are at fault these days. Can't imagine that we have seen the end of tax increases.

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Baddog

I'd have to say that all politicians are at fault these days. Can't imagine that we have seen the end of tax increases.

Or business leaving California. They make it so darned tough to locate a business in CA anymore.

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Malibudude

California has been hit harder and the west coast in general by this recession than most, combine that with an unfavorable environment for business and you have something short of a meltdown. CA has the highest foreclosure rate and had some of the more inflated property values in the nation. The state gov't is so inept to deal with the budget deficit....2010 isn't going so well they are already saying 20 billion shortfall in revenues.

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Bake's Marine

California has been hit harder and the west coast in general by this recession than most, combine that with an unfavorable environment for business and you have something short of a meltdown. CA has the highest foreclosure rate and had some of the more inflated property values in the nation. The state gov't is so inept to deal with the budget deficit....2010 isn't going so well they are already saying 20 billion shortfall in revenues.

Thanks too bad, things are starting to look a little better here in Washington (at least from what the morning news and a Realtor Friend is telling me)

-Paul

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LS-One

California has been hit harder and the west coast in general by this recession than most, combine that with an unfavorable environment for business and you have something short of a meltdown. CA has the highest foreclosure rate and had some of the more inflated property values in the nation. The state gov't is so inept to deal with the budget deficit....2010 isn't going so well they are already saying 20 billion shortfall in revenues.

Forbes magazine excerpt...

"Merced, Calif., is a quiet, residential city an easy drive from Yosemite National and Pacific Coast beaches. It's also a perfect case study for the aftermath of the housing crisis.

Homes at the median level in Merced have lost 62% of their value from the second quarter of 2006, when they peaked at $336,743, the biggest drop anywhere in the country, according to data provided to Forbes by Local Market Monitor, a Cary, North Carolina-based real estate research firm. Earlier, home building and buying grew exponentially in Merced, but the metro now suffers from a whopping 16.4% unemployment rate, according to the Bureau of Labor Statistics, reflecting a drop-off in building industry jobs and a grim housing market."

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Faceplant409

I'd be willing to bet that the boating industry has a lot to do with Merced's unemployment rate...

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Bake's Marine

I'd be willing to bet that the boating industry has a lot to do with Merced's unemployment rate...

No doubt!!! I bet that's what it is too.

-Paul

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LS-One

I'd be willing to bet that the boating industry has a lot to do with Merced's unemployment rate...

I don't live in Merced but I have operated a business here since 1991. I have a lot of business contacts in both the private and public sector in the County. I have to say the slowdown in the boating industry really hasn't had a big impact on the local economy. It's been a contributor but not a major donor. Merced was a perfect storm for unrealistic housing prices.

1. The western side of the County is close enough to to the San Jose area that Bay Area folks priced out of the housing market in SJ bought homes in the Valley driving up home values. Then fuel went through the roof and living so far from work lost its appeal.

2. After a long battle between three spots in Central Cali, Merced won out and the tenth UC Campus was built. This sent real estate speculation through the roof.

After many years now, Merced has not become the College town everyone thought it would be.

3. We all know what three is. Relaxed criteria for getting a mortgage put people in homes around here that had no business buying a home, let alone at a stupid price. Other people were doing refi's on their new found property values and bought new cars and boats.Now they owe more than its worth and are walking away.

Edited by LS-One

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OTN

Great news, but how many jobs does that really represent? 4? 5? Centurion is pretty small...

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Ndawg12

Great news, but how many jobs does that really represent? 4? 5? Centurion is pretty small...

Way more than that, try 35 to 40 Whistling.gif

Centurion

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