The BI Weekly 5 is a collection of tips, news and data affecting the boating industry this week. Be sure to look for the BI Weekly 5 every Tuesday on BoatingIndustry.com.
1. Washington marina fire causes $1 million+ in damage
At least seven boats were destroyed or sunk and others were damaged when a fire broke out at the Shelter Bay Marina in La Conner, Wash.
2. Brunswick Corp. upgraded by Wells Fargo, downgraded by Jefferson Research
Two differing views on Brunswick Corp. stock in the last week. On Monday, Wells Fargo analysts gave it an “overweight” rating (marking it as a good value). That follows Friday’s move by Jefferson Research to downgrade the stock from a “Buy” to a “Hold.”
3. Senators introduce reauthorization bill for Sport Fish Restoration and Boating Safety Trust Fund
Senators Jay Rockefeller, D-W.V., and John Thune, R-S.D., have introduced S. 2028 to reauthorize the fund, which provides financing for programs such as safety training and water access.
The only apparent change to current law is an increase in funding and the extension of fund expiration dates.
4. Consumer confidence drops in February
After increasing in January, consumer confidence slipped this month, The Conference Board reported.
The index dropped from 79.4 last month to 78.1 in February, driven by a decline in future expectations. On a positive note, the current conditions portion of the index hit its highest mark since 2008.
5. Five payroll tax mistakes to avoid
The Small Business Administration offers advice on common small business tax mistakes. Here are five things to watch out for.