Congress 2010
IFBSO's 49th annual Congress took place from June 9-12 in Chicago, USA. Attended by a total of 25 delegates representing most of the Federation's 39 member shows, the event was once again held in conjunction with IFBSO's sister organisation ICOMIA (International Council of Marine Industry Associations).
The joint Congress was hosted by the Chicago-based National Marine Manufacturers Association, which as the largest recreational marine industry association in the world was able to call on a wide variety of industry talent including Brunswick chief Dusty McCoy and Dan Kowitz of the sponsorship giant IEG as well as experts from its own staff.
Dusty McCoy, whose responsibility covers Mercury, Mercruiser, Mariner and Cummins engines as well as more than 30 boat lines including Bayliner, SeaRay, Hatteras and Sealine, provided a global perspective on the boat industry and its prospects for the future. His presentation, subtitled "The imperative for growth", looked with concern at the current market trends in recreational boating, and outlined what he saw as the only solution.
Over three days of sessions in Chicago's Drake Hotel, IFBSO delegates were also able to exchange experience and discuss best practice among their colleagues facing similar problems and opportunities throughout the world.
Executive Committee appointments
Paolo Lombardi from Italy (right) was elected as a member of the IFBSO Executive Committee at the IFBSO Annual General Meeting in Chicago, USA, on June 12. Paolo is Chairman of Fieri di Genova, which along with the Italian marine industry association UCINA operates the Genoa International Boat Show.
Also elected onto the Committee at the same meeting was Goetz-Ulf Jungmichel of Germany. Goetz manages Boot Dusseldorf, and was previously a co-opted member of the Exec. Bengt Wallin of Sweden (Batmassan Goteborg) was re-elected as Treasurer of the Federation.
Market watch
After an early season improvement in share value, the bellwether public corporations specialising in the marine industry have seen prices slide back over the past couple of months. Brunswick hit nearly $23 in April before tumbling to $12.78 in early July. However, the $12.78 is still almost four times the company's 52-week low of $3.49, reached at the same point last year.
On the other side of the Atlantic, Beneteau has dropped back from a peak of €13.88 in March 2010 to €11.02 in July, against a 52-week low of €7.26. Beneteau was hit less hard by the recession than Brunswick, losing 48% in share price between peak and trough compared with Brunswick's massive 85%.