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It was too little and too late. The Thompson creditors in 1966 forced the sale of the company and Saul Padek got control of all the stock for less than $4,000 cash layout. The Thompson family was out of the boat business at Peshtigo. Under Padek's ownership Thompson Bros. Boat Mfg. Co. declared chapter 11 bankruptcy in September 1966. Padek ...
Rand & Burger Shipyard Advertisement Three Burger Steamship Ferries 1890. The company grew and in an effort to leverage the building of larger steamships in 1872/3 Henry Burger Sr. took on a partner, Mr. Greeneleaf Rand, an established shipbuilder in Manitowoc, having been superintendent of the Manitowoc Dry Dock Company and partner at Hanson & Rand Shipyard, [4] forming Rand & Burger Shipyard ...
On water, the boats have low freeboard, which makes them vulnerable to rapid sinking in poor weather, and the canopies often trap passengers on board as the boats sink. [16] In addition, the duck boat vehicles are very old, replacement parts are difficult to find, and the vehicles are often poorly maintained.
Marinette Marine Corporation (MMC) was founded on the Menominee River in Marinette, Wisconsin, in 1942 as part of the growth in the American shipbuilding industry during World War II. [2] In 2000, Marinette Marine, a privately held company, was purchased by The Manitowoc Company for approximately $48 million.
On June 16, 1995, second generation owner and CEO Ellsworth Peterson, announced that the company was for sale. [5] On September 25, 1995, Larry Maples announced his intention to purchase and operate the company under the name Poseidon Shipbuilding LLC. [5] By November, however, Maple was reported unable to secure the necessary financing. [6]
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