Nekton (Bad News)

[Shasta_man]

Thanks for saying what we're thinking, Mike. Not advising the customers was just consistent with the rest of what we've heard. And then to try to spin other companies in effect paying their bills for them...

 

[DaveScuba]

I mean it's a perfect "cut/paste" from here.

Yeah, plagiarism, we got 'em by the balls now!

 

[scubabarb]

I did notice that Nekton had no prior complaints posted on the BBB site. However, by not doing anything, nothing happens. Plus, if you claim this loss on your 2010 federal tax return, you need to document that you did what you could to recover the money from Nekton. I know that I may not recover one cent, a criminal charge of fraud may not be brought, and Dixon may set up another company on foreign soil with the money he took from the business. The tax liens that were posted much earlier in this thread (one dated April 2010 for $89,200) are large enough to suggest that Nekton was making A LOT of money. I'm hoping this will capture someone's interest - like the feds - to ask where the money all went.

 

[Wookie]

The tax liens that were posted much earlier in this thread (one dated April 2010 for $89,200) are large enough to suggest that Nekton was making A LOT of money.

I'd kill to have a shipyard bill of only $89,000. Of course, he owns the shipyard, and his crew were labor for much of the overhaul. My shipyard bill for 2008 was on the order of $155,000. I expect it to be higher in Florida.

 

[annasea]

Probably not beneficial but a quick google turned up this and this.

 

[Scared Silly]

Just a quick comment. Having been involved with a business unit that eventually was dissolved let me give a perspective on the final days. I am sure the folks at Nekton were just not sitting on their butts watching things go into the toilet. My guess they were trying to work with their bank(s) and other creditor(s) to figure out a way to save their business. Especially, when they have unpaid payroll and taxes. The latter of which as has been noted is quite serious. No one wins when a business is in debt, has "product" to deliver, and goes belly up. However, there is also a time to cut ones losses.

When a business relies on having paying customers for trips one would hope that deposits would be "held" and not applied until the trip. However, few companies have that much working capital. As such, your deposit becomes the working capital and is used as needed - whether is be for a new engine, to pay the crew, or for food for your trip. This scenario is just like many but not all companies charge your credit card for an item even if the item is not in stock.

At the end of the day a company wants to show a revenue stream otherwise one wants to lend money or buy the company. So deposits are continued to be taken in hopes that product can be delivered. But once the deposits come in unless there is a holding company they are used to paid debts.

When our business unit was closed down customers who bought product and support within the last three months or so got a refund - but only because our parent company stepped in. Had our unit been on its own our customers would have been SOL. This scenario happens all the time.

It sucks to be a consumer or other debtor left holding the bag (of crap rather than gold). It behooves folks to be savvy consumers to do their research whether it is booking a trip or buying a widget. Sometimes, but not always red flags can be found.

Those companies honoring Nekton reservations are savy business just like when some airlines went belly up and other airlines honored tickets. A good way to gain a customer while looking good.

 

[seattitude]

A a 3 time customer on Nekton boats......I can only say Nekton -SHAME ON YOU!!!!!!!!!

 

[scubaflier]

what if they are showing a loss to get in line for some BP monies?

 

[diverdoug1]

what if they are showing a loss to get in line for some BP monies?

Please explain this statement. I am not trying to be flip (although I frequently am), but your post does not make a bit of sense to me.

 

[cappyjon431]

Just a quick comment. Having been involved with a business unit that eventually was dissolved let me give a perspective on the final days. I am sure the folks at Nekton were just not sitting on their butts watching things go into the toilet. My guess they were trying to work with their bank(s) and other creditor(s) to figure out a way to save their business. Especially, when they have unpaid payroll and taxes. The latter of which as has been noted is quite serious. No one wins when a business is in debt, has "product" to deliver, and goes belly up. However, there is also a time to cut ones losses.

When a business relies on having paying customers for trips one would hope that deposits would be "held" and not applied until the trip. However, few companies have that much working capital. As such, your deposit becomes the working capital and is used as needed - whether is be for a new engine, to pay the crew, or for food for your trip. This scenario is just like many but not all companies charge your credit card for an item even if the item is not in stock.

At the end of the day a company wants to show a revenue stream otherwise one wants to lend money or buy the company. So deposits are continued to be taken in hopes that product can be delivered. But once the deposits come in unless there is a holding company they are used to paid debts.

When our business unit was closed down customers who bought product and support within the last three months or so got a refund - but only because our parent company stepped in. Had our unit been on its own our customers would have been SOL. This scenario happens all the time.

It sucks to be a consumer or other debtor left holding the bag (of crap rather than gold). It behooves folks to be savvy consumers to do their research whether it is booking a trip or buying a widget. Sometimes, but not always red flags can be found.

Those companies honoring Nekton reservations are savy business just like when some airlines went belly up and other airlines honored tickets. A good way to gain a customer while looking good.

I will not justify Nekton's behavior in taking deposits when it appeared the company was having severe financial troubles. There is no excusing this behavior and I feel great sympathy for the many people who may have lost their hard earned dollars and their upcoming cruises. I know what it is like to scrimp and save, plan time off work, book flights, only to lose it all because of some unfortunate incident. I think that things could/should have been handled in a much more professional manner. The lack of open and honest communication on Nekton's part is inexcusable.

That being said, there are some serious "human" events that deserve to be mentioned in this thread. There are many long term Nekton employees (office staff, shipyard workers, etc.) who now count themselves as some of the nation's millions of unemployed. These people had families, mortgages, credit card bills, car payments, health insurance, etc. but now they are jobless in a time when jobs are not easy to come by. While John Dixon has been painted as a devil on this board (and once again I am not defending his behavior) please remember that he has a wife and three young children. Imagine the toll the demise of Nekton has on these folks.

It is clearly understandable to be upset about the loss of trips, deposits, etc. I would be pissed too. I think it is also important to remember that when a company goes out of business, there is more too it than the losses of the affected consumers. Some people lost companies, careers, assets, and homes.