GOT MY ATTENTION…

Andy Adams, Editor

Mar 26, 2024

Maybe it’s the Donald Trump news cycle but there just seems to be a lot of attention going to high-profile court cases these days. I feel like everyone is on trial or is suing everyone else – sometimes both! After a while you become a bit numb to it all but a newsletter last week from Phil Friedland, (a well-known marine industry veteran) got my attention.

His newsletter headline was, “Lawsuit Rocks the Yacht-Sales World – Alleges That Brokers and Their Associations Engaged in a Scheme That Cheated Thousands of Sellers”.  I immediately called some of the yacht brokers that we regularly work with, to ask what’s going on. As background, there has recently been a big class-action suit in the U.S. involving real estate agents and commissions. Quite possibly, one has triggered the other.

The story is that there is an American class-action suit being brought by a yacht owner who is also involved in real estate. As is common in a broad and far-reaching class action suit, the plaintiff names many people and organizations in the suit knowing that it will probably shake out as things progress, if they do progress.

First to connect with me was Pat Sturgeon. Shortly after, several other yacht brokers returned my calls and the general consensus for now, is to sit tight. There are a few reasons. Pat is a YBA and also a CPYB member, and a well-established yacht broker with a fondness for getting involved in the industry. He works ‘cross-border regularly. He is very concerned about this but it’s complicated.

Points we agreed to in our call was first, to sit tight and see how this progresses. Keep the story within the industry for now until we know more. Second, the United States and Canada are different and we have different laws. It takes time for a big action suit to work its way through the U.S. courts and Canadian laws may be very different in their approach to this.

We will be watching this story closely and will bring you information on the probable impact this will have in Canada, if any.

Andy Adams – Editor

Related Posts

Cruisers Yachts Rebrand Flagship Model: Introducing The New 57 Fly

NMEA

Cruisers Yachts, a renowned name in the luxury yacht industry, announces the rebranding of its esteemed 55 FLY model, now named the 57 FLY.
 
“At Cruisers Yachts, we always strive to improve our products and ensure they reflect the true essence of our craftsmanship. After careful consideration, we’ve decided to rename the 55 FLY to the 57 FLY. This change better aligns with the actual length of the yacht and more accurately represents its impressive scale and sophistication.

Read More

Changing Scene

Need to Catch up on News This Week?

Every Tuesday we publish a fresh Digest with informative articles pertaining to the Canadian boating and marine industry. Stay up to date with the latest products, research and industry developments.

Missed an Issue of Boating Industry Canada News Week? If you’re looking for a specific issue, or simply want to catch up on previous issues, check out our Boating Industry Canada News Week Archives.

Not signed up for News Week? Subscribe here.

Just Launched

Kropf Industrial Delivers First All-Electric Travel Lift

Kropf Industrial, manufacturer of the industry-leading Conolift line of boat handling equipment, is excited to announce that its first all-electric travel lift is now in service in Ontario. The advanced design has eliminated both the diesel power unit and the hydraulic system, yielding a simplified machine that is quiet, and free from emissions and the risk of spills.

Read More

Mercury Marine enhances Joystick Piloting capabilities, laying the groundwork for an exciting future in effortless autonomous boating

Hubbell-Marine Stainless steel outlet covers

Mercury Marine®, a division of Brunswick Corporation has announced a software update for its SmartCraft®operating system that gives Joystick Piloting powerful new capabilities. The system can now automatically counteract the effects of wind, waves and current while a boater is driving with the joystick, giving them the ability to dock and maneuver with effortless precision.

Read More

People