Some See Early Signs Of Rising Tide For Boats

"For the first time in several months I have a sense, call it what you will, that we've seen the bottom of these horrible times, at least in our industry. ... We're actually seeing some lift out there, better than it has been in some time."

Privately held Genmar has laid off over 2,000 employees and has about 1,800 left. Jacobs wouldn't give current sales figures, but said sales before the slump had been about $1.1 billion to $1.2 billion a year. While sales of Ranger and other Genmar freshwater fishing boat lines are down only 27 to 28 percent, he said, other Genmar brands are off 50 to 55 percent.

Jacobs said he expects Genmar to be the industry's major beneficiary of competitors going bust because of its extensive dealer network and deep lineup of new models.

Brunswick — whose 17 boat brands include Bayliner, Crestliner, Lund and Hatteras, and also makes Mercury motors — is not expressing a lot of optimism.

The Lake Forest, Ill.-based company has closed or mothballed half the 28 factories it was running in 2007. Total employment in its marine operations is down nearly 50 percent since the beginning of 2008. Sales in its boat segment were down 64 percent in the first quarter of 2009 from the same period a year earlier, while marine engine segment sales were down 45 percent.