Marine Products maufacturers the Chaparral line. MPX on the NYSE. I had to look at their
sales data and it's down considerably like all pleasure boat manufacturers. I swiped these two quotes from the the 4th Quarter 8-K filed with the SEC.
"For the quarter ended December 31, 2008, Marine Products generated net sales of $22,764,000".
"Net sales for the twelve months ended December 31, 2008 were $175,622,000"
175 million and that's down 26 percent or something! I was thinking about this. We live
in such a litigious society and the potential for a product liability law suit has to
be HUGE. At 175 million in annual sales they are doing something right.
Is it possible that the folks at Chaparral just forgot to check with their attorneys before
making that claim?
I don't know, I'm just having a hard time believing that to be the case. I can imagine that a publically traded company has some serious due diligence before they make such claims.
Do most folks think they just didn't check that out before making the claim?