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. Palmer Johnson Yachts moving operations to Netherlands
Yacht manufacturer Palmer Johnson Yachts has confirmed it is moving its operations to the Netherlands after shutting down its facilities in Wisconsin, the Milwaukee Journal Sentinel reported.
"There has been strong interest in the SuperSport range, and the company will gain significant competitive advantages by building the next generation of yachts in Europe," Palmer Johnson said in a statement.
The company is relocating to Europe in order to increase production of its SuperSports series of yachts.
The company plans to shutter its Wisconsin operations by the end of October.
2. Costs for Miami renovations $4 million over budget
The city of Miami may have to pay more than $4 million more than budgeted to prepare Miami Marine Stadium Park & Basin for the Miami International Boat Show, the Miami Herald reported.
According to the paper, Miami city manager Daniel Alfonso sent a memo to city commissioners last week saying that initial estimates of $16 million for the project were well short of the actual cost, predicting a shortfall of $4.38 million.
3. Small business optimism up slightly in August
Small businesses were slightly more optimistic in August than in July as the National Federation of Independent Businesses Small Business Optimism Index gained .5 points to 95.9 for the month.
“The index of Small Business Optimism went nowhere in August, so the good news is it did not fall. Small business owners did not seem to be very concerned about the antics of the stock market or China’s currency devaluation. Maybe it was too late in the month to be fully captured by the survey so more might be revealed in September, but most small business owners have their capital primarily invested in their own firm, not other people’s firms," said NFIB Chief Economist Bill Dunkelberg.
4. Eight facts about American workers
In recognition of Labor Day, the Pew Research Center presents eight interesting facts about American workers, from the declining role of unions to the rise of Millennials.
5. Taking advantage of Instagram ads
With the rollout of advertising on Instagram, the social network is expected to become a major player in social advertising.
(Discover Boating has already started using it, as we wrote about earlier this year.)
Social Media Examiner offers some tips on the best ways to use the network to promote your business.