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. New Jersey dealer missing in boat crash
Andrew Biddle, a champion powerboat racer and manager of New Jersey’s Professional Boat Sales, is missing and presumed dead after his pontoon boat collided with a buoy near Longport, N.J.
The Coast Guard has suspended its search, although state police continued to search, according to news reports. A passenger on the boat survived the crash and swam to shore.
Professional Boat Sales, based in Egg Harbor Township near Atlantic City, made news earlier this year when the company’s owner was arrested at the Atlantic City Boat Show.
2. Deadly year for Colorado boaters
More boaters have already died this year in Colorado’s waters than in all but one year over the last two decades.
State officials reported last week that there had been 15 deaths so far in 2014, equaling the 2009 mark of 15, with months left to go in the boating season there.
3. Brunswick stock lowered to “underperform”
For the most part, the market seemed to have a positive response to Brunswick’s earnings reported last week, but the analysts at Zacks were apparently unimpressed. In a note to investors, Zacks lowered its rating from “neutral” to “underperform.” Ahead of the earnings release, analysts at B. Riley had raised the stocks rating from neutral to “buy.”
4. Consumer confidence up for third month in a row
Consumer confidence continued its upswing in July, hitting a mark of 90.9, up from 86.4 in June, according to The Conference Board. That’s the highest level since 2007.
5. Primer on Canada’s new anti-spam law
Most companies in the boating industry do business in the U.S. and Canada. If you’re sending emails across the border, here’s a primer on what you need to know about Canada’s new law.