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Chris Craft Management/Ownership History

December 18 2011 at 11:56 AM
Norm  (no login)


Response to That may be true

Paul, and All

If you chart the ownership of Chris Craft I think it is possible to chart the quality of the build based on the passion/investment that was or wasn't there...

My take on it:

Shields buys CC in 1960 and was a good steward who left Chris Craft do what they did best - he invested heavily in the 60's until;

Siegel (Montrose Chemicals) wrestled it away in a takeover in 1968, and they diversified heavily into TV, DDT was banned in the US in 1972 - major cash-flow for Montrose gone overnight. Then the fuel crisis that hit with the OPEC embargo in 1973.

Last wooden boat built in 1971 and the mahogany interiors in the Commanders disappeared around this time. The cost cutting had started.

1970-1980 Lack of passionate ownership period. It must have been hard for the Chris Craft employees to be under the control of a company that lacked the passion for quality and had to be more concerned about survival and the bottom line. Add in rising fuel prices and the related additional cost to production and shipping.

1981 Murray Industries passionate but always under-funded and competition stiff from Brunswick Corp.

Bankrupt CC Murray Industries sold to OMC in 1989 until they in turn went bankrupt in 2000.

1981-2000 Lack of cash-flow period - early focus on racing. Competition fierce to build more boat for the buck.

Stellican Industries buys the name and they are all about the passion - they restored Indian Motorcycles to their former glory and Riva boats in Italy was the first company they resurrected.

 
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