Aquacraft (Hobbico) Files for Bankrupcy

[Steven Vaccaro]

They let the brain behind AQ walk away.

Ya, but he wasn't the only one in the world that could build them a boat.

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[T.S.Davis]

True but few with his level of talent. Could easily have been a $ decision to let it happen.

My point was that they don't have a guy to do the R&D anymore. Not sure if they ever hired a replacement. That could have been a $ decision too. Product development certainly screached to a halt.

[Steven Vaccaro]

True but few with his level of talent. Could easily have been a $ decision to let it happen.

My point was that they don't have a guy to do the R&D anymore. Not sure if they ever hired a replacement. That could have been a $ decision too. Product development certainly screached to a halt.

Sad to see the company that started the brushless rtr boat revolution die.

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[Doby]

So my SV-27 just became a collectors item.

[Rumpelhardt]

From what little I've seen on the subject It would appear Hobbico is not dead quite yet. In Hospice and on the brink maybe but they still have a detectable pulse.

[T.S.Davis]

Maybe just a restructure?

That AQ gig would be tuff. They wanted Mike to stay local so you would have to have skills and be willing to relocate. Big sell.

[Steven Vaccaro]

They are 100-500 million in debt, it looks like a bunch of vendors they own money to will get screwed and then they will be sold or come back with less dept. Its a great system. :-(

[T.S.Davis]

Ah got it. Make some bad decisions and then pass that carnage on through to others.

Steven, I could use a 100 million worth of boat crap. I'll be placing the order later today. You'll take a check right? I'm good for it.

[Ken Haines]

They are 100-500 million in debt, it looks like a bunch of vendors they own money to will get screwed and then they will be sold or come back with less dept. Its a great system. :-(

I agree.....always thought the bankruptcy loophole must be unfair
to those that are owed. Actually got a small taste of that from a
manufactured home dealer years ago. Lost a small deposit on a unit.

That being said, hard to hold back.....
Apparently in some cases it is OK.
Sorry, but I really struggle with the irony

[Ken Haines]

On a more positive note.....
since the end of the summer many races
especially Fast Electric have been full or
completely sold out. Just look on RcRacingEvents
or on Racemastersevents and see the pending races.

Not sure what this upsurge can be attributed too,
but certainly FE was boosted years ago by the
efforts of Mike Zaborowski, Russ Williamson and
the rest of the gang at Aquacraft / Hobbico.
Thanks for your all past years of efforts to our sport.

[Steven Vaccaro]

Ah got it. Make some bad decisions and then pass that carnage on through to others.

Steven, I could use a 100 million worth of boat crap. I'll be placing the order later today. You'll take a check right? I'm good for it.

GM got the best deal ever! Screw over all the vendors, the stockholders share value became worthless, then after all that they had another stock sell as if they were a brand new company. The IPO raised a cool 20 billion. NICE! https://finance.yahoo.com/news/timel...154651946.html

[Ken Haines]

GM got the best deal ever! Screw over all the vendors, the stockholders share value became worthless, then after all that they had another stock sell as if they were a brand new company. The IPO raised a cool 20 billion. NICE! https://finance.yahoo.com/news/timel...154651946.html

Pretty sure you know I was referring to that
4 times bankruptcy guy....certainly many
people / lenders got screwed.

The bankruptcy loophole does seem oddly wrong....
but hopefully it is able to save Hobbico from forever
closing the doors.

[CraigP]

They are 100-500 million in debt, it looks like a bunch of vendors they own money to will get screwed and then they will be sold or come back with less dept. Its a great system. :-(

That’s a big number on a shrinking market. One can only imagine how they spent that much money...

[Steven Vaccaro]

Pretty sure you know I was referring to that
4 times bankruptcy guy....certainly many
people / lenders got screwed.

The bankruptcy loophole does seem oddly wrong....
but hopefully it is able to save Hobbico from forever
closing the doors.

Im trying to keep "that guy" out of it. He's very toxic. Its much easier to pick on GM. :-)

[Ken Haines]

Im trying to keep "that guy" out of it. He's very toxic. Its much easier to pick on GM. :-)

Lol....good idea

Btw, what are your race schedule plans for this year ?

There are already 174 boats entered for the MMEU IMPBA FE Nationals in June.
Looks like a very well FE attended Spring Nat's at Doug's club in Atlanta too.
Too late to enter the Winter Nat's (sold Out)
and also the SOWEGA race in Tifton (sold Out)

We would enjoy seeing you and the boys somewhere this year !

[Steven Vaccaro]

Luis is headed to the Winter nats with you guys in a couple of weeks.

Im working on the Spring Atlanta nats for both Luis and I. And I hope Luis, myself and the sons can make the Michigan race.

[Rumpelhardt]

Im trying to keep "that guy" out of it. He's very toxic. Its much easier to pick on GM. :-)

Picking on GM has been one of my great passions ever since they did away with real Pontiac V8s. I despise Chevrolet and have since the late 70s.

[Ken Haines]

Luis is headed to the Winter nats with you guys in a couple of weeks.

Im working on the Spring Atlanta nats for both Luis and I. And I hope Luis, myself and the sons can make the Michigan race.

Luis Oquendo you are referring to ?
He is a friend or family ?
I apologize as I have not met him I do not beleive

[Ken Haines]

We are actually in Washingtonville, NY at some friends of my wife.
We came up for the Mike Paganelli 50th year Birthday Party in Rye Brook.
What a great fun party, I will have to post some pics latter....he was in
his usual form and with the help of the band entertained us the whole evening !
However, we are still in shock leaving 70 to 80 degree temps for the 20's
and single digit nights you are having. We will be so happy to return
to warm Florida latter today :)

[Steven Vaccaro]

We are actually in Washingtonville, NY at some friends of my wife.
We came up for the Mike Paganelli 50th year Birthday Party in Rye Brook.
What a great fun party, I will have to post some pics latter....he was in
his usual form and with the help of the band entertained us the whole evening !
However, we are still in shock leaving 70 to 80 degree temps for the 20's
and single digit nights you are having. We will be so happy to return
to warm Florida latter today :)

Sounds like a good time. Im sure Mike did most of the entertaining.

Luis Oquendo is who I was referring to. He works for me.

[Shooter]

Castle creations, and now this. There just isn't any $$$$ to be made in this stuff. Nobody wants to pay $500 to get a spec boat on the water, except us fools!

[ray schrauwen]

So my SV-27 just became a collectors item.

Similar to the AMC Pacer.

[Rumpelhardt]

It's all my fault. I always seem to come into new hobbies at their downward trend. My getting into a hobby ushers in it's demise.

[Ken Haines]

Sounds like a good time. Im sure Mike did most of the entertaining.

Luis Oquendo is who I was referring to. He works for me.

Great, now I understand the connection.
I look forward to meeting him in person at Melbourne

[Doby]

Love it or hate it..the SV-27 pretty much started all the FE madness.

[ray schrauwen]

Love it or hate it..the SV-27 pretty much started all the FE madness.

Maybe for rtr newbies like yerself...

I remember when I had to have one...

It helped greatly.

[T.S.Davis]

I held out on the SV for years. I was already horribly addicted without it. Now I have a pair of them. Somewhere. They're in the basement I just know it. haha

Steven, git er done. Make it happen kappen. We would really like to see you and the boys more than once every 5 year. That's crap.

[MarkF]

I think MRP was the first to do RTR boats. They had a good size list of boats to choose from as well.

Mark

[Doby]

I think MRP was the first to do RTR boats. They had a good size list of boats to choose from as well.

Mark

Nothing with any real speed.

[Steven Vaccaro]

I held out on the SV for years. I was already horribly addicted without it. Now I have a pair of them. Somewhere. They're in the basement I just know it. haha

Steven, git er done. Make it happen kappen. We would really like to see you and the boys more than once every 5 year. That's crap.

I was just in Michigan 2 years ago. Im glad you miss me that much. :-)

Im either going to Michigan or Atlanta. I think its going to be Michigan. Id love to do both, but Atlanta is a 2 day drive for me. I cant handle 18 hours of driving and be of much use on the next day.