Meloon Family Sells out In Orlando

I'm not sure if this story has been posted or not. The Meloon Family's Orlando based Correct Craft dealer is now a Master Craft dealer. It sounds like the Meloons hold very little interest in the company. Check out the links below for more...

Orlando boat dealer sales away from Correct Craft

Vince

Editied by Keith: I removed the second link, it was to a blog and was not a creditable source

I hate the papers, and all the coments.

The family did not sell out to Master Craft.

Only Walt is opening a new dealership!!!!

Not the family!!!!!!!!!

sell out is a different word than sell, whats the scoop? who owns 51% of Correct Craft?

Dave,

If I read this correctly myself and from my research of the past of the meloon family is pretty big. So it is sad that Walt and everyone at SECC is now a Mastercraft Dealer but there must be some backing to the story on why this happened. Someone must have been knifed on that part that they lost the selling right of CC. Now there is Nautiques of Orlando. So that part of the family has crossed to the dark side and selling mastercrap as some people say.

So Ken Meloon, Mr. Ralph Meloon Sr and the other family members are still there for us Correctcraftfan's.

Just my 2 cents

-Phil

From what I have read, Walt owned SECC. Businesses don't usually mess with sucessful business avenues (aka cash cows), so there is a reason, that we will never know, that CC pulled the dealership rights from Walt.

jbear wrote: Chexi wrote: once the Meloon family sold control of CC So.....WHO did they sell to? Not mastercrap....even tho the paper says so? Why on earth would the family sell out anyhow? Just to make money? john

John, Chexi is referring to the sale of CC to one of those investment groups. 5 - 10 years ago? I don't know exactly when it was nor do I know the % of stock ownership but it hasn't been a good old family business for awhile. You know corporate goals are to make $$$ so considering their typical marketing schemes, I wouldn't be surprised if they come out with the "TUBE NAUTIQUE" !!! Endorsements for pro tubers will then follow!

so considering their typical marketing schemes, I wouldn't be surprised if they come out with the "TUBE NAUTIQUE" !!! Endorsements for pro tubers will then follow![/QUOTE]


Sweet... More huge heavy wallowing pig boats with roll bars to swamp my little ski boat! I guess the only good news is it will showcase driving ability as all you need for tubing is someone heavy to man the tube...

Where did you come up with that title? Sure didn't get it from the articles you posted What a load of BS, plenty of speculation in this thread already. This is PN news!

John, MC's headquarters is in Tennessee.

The whole thing is crazy. I find it particularly odd that it appears people on this website have more loyality and pride in the name "Correct Craft" than people with the surname Meloon?!? Just my .02

Vince, thanks for the clarification. I think HW was trying to dispell the notion that the Meloons had sold their shares of Correct Craft to Mastercraft.

Cape Cod CC wrote: TRBenj I hear you on them selling to MasterCraft. One of the articles states they did, but they clearly got it wrong. Tx

The goings on regarding the Changing of the guard at CC and the opening of the new Dealership at OWC has been public knowledge for quite some time. Whoever wrote that story and states that mastercraft purchased CC should be fired, Publishing wrong information when this has been public info for atleast a month now, irresponsible to say the least.

Cape Cod CC wrote: HW: The title is just what it is. It's not derogatory or even an opinion. The Meloon family did sell their shares off.

The title then those crappy articles made it seem like they chose not to be part of CC and wanted to go work for MC. Yeah, Walt N sold his shares but I don't think he volunteered SECC to get dropped.

Looks like Walt N and Gary basically got fired then went to work for the competitor, nothing shocking about that.

I had the chance to speak with Walter Meloon yesterday. In my conversation with him, a few things were cleared up and some rumors were put to rest.

As most of you already know, the former SECC is no longer a Correct Craft dealer. The details behind this change are a private business matter between Walter Meloon and Correct Craft, Inc. I can tell you that Walter wanted to continue operating as a dealer in the narrow niche of performance tow boats and therefore did take on a competitive boat line. The dealership has been renamed to Southeast Marine, operating as Mastercraft of Orlando.

Furthermore, Walter did sell his 43% share of Correct Craft stock to recent majority owner, and long-time board member, Daryle Doden. Doden, founder of Ambassador Steel Corporation of Auburn, IN, now owns 99% of Correct Craft, Inc.

-Keith

You're making it sound like Walter sold his stocks AFTER the dealer change around. When did the stock sell, and when did the rug get pulled out?