Yacht Firm Taking On Water

Everyone knows that one of the first things to go in a bad economy are the yachts (both the customers’ and the managers’).

Bangor Daily News: Three months after laying off nearly 50 employees from its local production facility, The Hinckley Co. announced Monday that it is laying off 25 more.

The slumping economy remains the reason the luxury yacht manufacturer is cutting back at its Trenton plant. According to company officials, the latest layoffs will reduce the number of employees Hinckley has in Maine to 215.

That number represents about half the company’s workforce.

Ed Roberts, vice president for marketing and product development, said Monday that Hinckley had hoped that orders for its luxury sailing yachts and its powerboats would increase at the end of 2008, but such demand did not materialise.

The company survived the Great Depression, mind you, but it’s unclear what can help it now. (Any ideas?) If only Obama would buy a presidential yacht…

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