This has to be good news for the boating industry. The Wall Street Journal reported today that Brunswick, the parent company to Sea Ray Boats and Mercury Marine, closed at its highest stock price since the start of the recession.
When Brunswick was down to $2.14 last March with not much hope in sight, it paralleled the depths to which the economy had faltered. You don’t need an MBA to figure out that when people lose their disposable income, the leisure industries take the biggest hits.
While no one is saying everything’s back to the good old days, this is a positive sign that maybe we’ve turned the corner. That the NMMA is predicting flat sales numbers for 2010, rather than another double-digit percentage loss in sales, is another good sign.
The Brunswick CEO is quoted as being cautiously optimistic in this article. It’s a billiard news site, but it’s mostly about the boat biz.