Archive for » June 26th, 2015«

Boat seller takes deal

 LITTLE ROCK (KATV) -

It took five years after the first complaint against him was filed, but it looks like the scheming ways of a Greers Ferry boat dealer finally caught up with him.

He owes his victims over $200,000.00, but Gary Eubanks will have to satisfy a 10 year prison term before he can start repaying them.  

Under a plea agreement, Eubanks will both spend time in prison and be shackled with a lot of debt when he gets out.

“He said he could sell my boat for me,” Douglas Guterman of Lonoke told us in August of 2013.  “And the reason I wanted it done was…I just had a hip operation and I can’t ride a boat.  So I could not demonstrate it to anybody if I tried to sell it privately.”

Guterman was supposed to get $17,000.00   Eubanks was supposed to get $2,000.00.  Guterman says Eubanks kept all the money from the sale.

We also talked with Darell Siler of Searcy.  Siler paid Eubanks $13,500.00 for a pontoon only to later have the pontoon’s owner reclaim it because Eubanks never paid him the money for the boat.

“He didn’t do everything he was supposed to do?”  

“There is one thing he didn’t do…was pay the previous owner of the boat,” said Siler.

Once Channel Seven started sharing the stories of people who trusted Gary Eubanks to sell their boats only to have Eubanks pocket all the money from those sales…we began to hear from more and more victims.  

In January of 2013 the Attorney General filed a civil suit in an effort to stop Eubanks.  

18 months before that a Searcy attorney representing one of Eubank’s victims wrote a six page letter practically begging for Eubank’s prosecution.  
It didn’t happen…and Eubanks was able to ensnare many more victims in his boat sale consignment schemes before he was charged with felony theft in September of 2013.

“In hindsight it could have been prosecuted,” says Searcy attorney Daniel Brock.  “Again…I don’t want to second guess anybody.  I’m glad at least in this instance justice was eventually served.”

If this plea agreement is approved by the judge…Eubanks will be formally sentenced on August 11th.  

If he behaves himself in prison he could be out in less than two years.   

But the only way he will reduce the over $200,000 he owes his victims…will be to make payments. 

Air date:  June 24th, 2015


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Hatteras Yachts expands sales network

Hatteras Yachts
June 24, 2015
Filed under News

NEW BERN, N.C. —  American sportfishing and motor yacht builder Hatteras Yachts is pleased to announce that Total Offshore Yacht Sales of Wilmington, N.C., has joined its award-winning global network of sales representatives. The addition of this new Hatteras dealership in coastal North Carolina furthers the builder’s goal of strengthening its presence in key fishing and cruising markets in the U.S. and around the world.

“I am very excited to be back with Hatteras,” said Total Offshore Yacht Sales Owner and President David Croom, who represented the company’s yachts when he worked with a previous yacht dealership eight years ago. “Hatteras builds the best boats for customers in our region, many of whom are active offshore yachtsmen or saltwater anglers. The new Hatteras GT Series, in particular, has been very well received by our local sportfishing community.

Croom has been on the water since age 11, when he got his first job on a boat as mate. A U.S. Coast Guard-licensed captain at age 19, he gained experience operating a wide range of vessels including commercial vessels, sailboats, motor yachts and sportfishing boats. A passionate angler, he is a proud member of the Hatteras Marlin Club on Cape Hatteras, N.C. David draws on this rich experience to provide his dealership’s customers with a wide range of services and support before, during and after their yacht purchase.

“We are delighted to welcome David Croom of Total Offshore Yacht Sales, with his well-honed skills both as a yacht broker and as a captain, and his focus on excellent customer service, back to the Hatteras family,” said John Ward, president and CEO of Hatteras/Cabo Yachts. “Total Offshore Yacht Sales is in the heart of Hatteras country, and its proximity to our factory is sure to make for very strong ties between us, the dealership and its clients.”



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Tax breaks ahoy! N.J. sales tax limit on luxury yachts sails through Legislature

TRENTON — The only thing now standing between an expensive yacht buyer and a sales tax break is Gov. Chris Christie.

A bill (S2784) to cap the amount of sales tax New Jersey can collect on boat purchases at $20,000 coasted through both the state Senate, where it passed 36-0 and Assembly, where it passed 65-5 with 4 abstentions. It now lands to Christie’s desk.

The bill’s sponsor, state Sen. Jim Whelan (D-Atlantic), said earlier this month the intent is to boost New Jersey’s boat industry by keeping New Jerseyans from buying boats in neighboring states.

The bill is similar to a budget measure recently passed in New York.

New Jersey’s sales tax is 7 percent, meaning that a buyer would have to spend $285,715 on a boat to pay $20,000 in sales tax. But under the bill, there would be no difference between how much that buyer would pay versus someone buying a $1 million boat.

The liberal think tank New Jersey Policy Perspective has criticized the bill as “just another tax break for the wealthy.”

State Assemblyman Sam Fiocchi (R-Cumberland) suggested expanding the tax break to a larger segment of boaters.

“This bill targets a certain section of the boating community for tax breaks but unfortunately leaves most of the other boaters in its wake,” he said.

But sponsors said it would keep afloat New Jersey’s threatened boat building industry.

MORE POLITICS

Matt Friedman may be reached at mfriedman@njadvancemedia.com. Follow him on Twitter @MattFriedmanSL. Find NJ.com Politics on Facebook.


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Boat sales see first drop in 15 months

Posted on June 19th, 2015
Written by Jack Atzinger


Click to enlarge.

Click to enlarge.

Recreational boat sales fell in May, declining in both the main powerboat segments and industrywide for the first time in 15 months.

The drop was small — 1.6 percent, or 241 boats, to 15,003, in the main segments, and 2.1 percent industrywide, or 501, to 23,363, in 27 states, or about 65 percent of the U.S. market, in Statistical Surveys’ monthly report — but it marked the first time since February 2014 that sales were broadly lower.

The industry has been achieving steady, moderate gains for the last three years as it recovers from the sales slump that occurred during the Great Recession.

Minnesota had the largest decline among the early-reporting states. Sales fell there by 515 boats, from 2,658 in May 2014 to 2,143 this year, but the state still placed fourth in the rankings.

Sales fell by 110 in Texas, from 2,526 last year to 2,416 this year, but the state still ranked third nationally. Florida led the nation and showed a gain, as it usually does, reporting 3,356 sales, 506 more than the 2,850 it had last year.

Statistical Surveys national marine sales manager Ryan Kloppe said manufacturers and dealers did not tell him that they were seeing a slowdown in sales.

“We’ve had a good stretch, with more than a year of sales gains, and we finally see a bit of a dip,” he said. “I think it’s possibly a lull after the spring rush and before the summer rush.”

Kloppe said he expects sales to rebound as the summer selling season moves forward.

The only high-volume category in the main segments that showed a sales increase for the month was 11- to 40-foot fiberglass outboards, a stalwart segment during the industry’s long recovery. Sales rose 4.9 percent to 4,114 boats.

Even sales of personal watercraft were lower, dropping 2.9 percent to 5,695.

Two consistently strong categories — aluminum fishing boats and pontoon boats — showed declines. Fishing boat sales dropped by 1.3 percent to 3,399 and pontoon sales fell 4.1 percent to 5,129.

The bigger-boat categories generally fared better. Sales of 31- to 40-foot cruisers were nearly flat at 161 boats, but sales of 41- to 62-foot yachts rose by 11 to 89 and sales of 63- to 99-foot custom and semicustom yachts rose by 15 to 32.

Apart from Florida, Texas and Minnesota, the top 10 states for sales were: Michigan (No. 2, where sales rose by 155 to 2,833); New York (No. 5, where sales fell by 107 to 1,773); North Carolina (No. 6, where sales rose by 53 to 1,373); New Jersey (No. 7, where sales rose by 113 to 877); Ohio (No. 8, where sales fell by 93 to 796); Tennessee (No. 9, where sales fell by 126 to 769); and Washington (No. 10, where sales rose by 77 to 690).

Sales of jetboats rose nationally by 81 to 436; ski-boat sales fell by one to 829.

Sailboat sales fell by 34, or 13.5 percent, to 218.


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