Ken Harrison 10:30 a.m., Dec. 10
Well Platinum Equity just bought Little Falls for $70E6. Mr Irwin Jacobs is going to the rich side of the street with the yacht group of Carver and Marquis boats at $6.05E6 which are made in Pulaski, Wis. I would guess why, is because Minnesota has been driving business out of the State for the last 30 years with high taxes. Maybe we could make spark plugs here in Little Falls, for Platinum Equity.
He says he wants to build Larson, FinCraft and Seaswirl fiberglass boats. Now he wants to buy Glenmar's boat manufacturing operation from Platinum. It would be informative to find out who is going to get the $70E6, and how much Platinum Equity will get from each sale of a Larson, FinCraft and Seaswirl if he is successful. The best thing Platinum Equity could do is to take all the equipment, all the designs,all the tooling and move to Mexico to build the boats for 1/10 of what it cost's to do it here in the U.S. This would leave Mr. Jacobs with an empty building and a place to start over. This would get Little Falls on a track to the modern World and create a future for our kids for the next 25 or more years, and would give Mexico the 90 year-old boating industry that can not make it in the future oil economy.
Ref; Star Tribune,1/09/10 page A1