Repo Boats

ALSO READ: Q&A: Ken Cage from Airplane Repo takes back private jets for a living “There are synergies between hunting fugitives and hunting boats and planes,” Cage says of Thompson’s past profession. “We still use him, both on screen and off screen HARRISON TOWNSHIP, Mich. — So many people have so many things they can no longer afford. This is an excellent time to be a repo man. When a boat owner defaults on his loan, the bank hires Jeff Henderson to seize its property. The former Army detective He had no identification on him. His profession was listed as repo man. In Minnesota, a boat repo specialist named Kim Zarbinksi was repelled when the angry owner of a 40-foot yacht refused to give him his boat. So Zarbinksi resorted to sterner measures. BoatTrader.com and GE Capital’s Commercial Distribution Finance announced an agreement that gives authorized marine retailers an opportunity to purchase current and non-current repossessed boats through CDF. “Today’s market and economic conditions It'll be sold at auction to help repay investors Madoff defrauded as part of his $65 billion Ponzi scheme. "We repo four to five boats a day in South Florida," President Robert 'Bob' Toney said. This year, about 380 boats on average are being repossessed THE star of Discovery Channel’s hit reality show “Airplane Repo” is a phony If Ken is saying he personally repossessed hundreds of airplanes and boats, Joe Dinardo points out that he believes Cage “doesn’t even have a pilot’s license .

When the Great Recession pummeled the yachting industry in the U.S., South Florida's Nautical Ventures Group got creative and began exporting repossessed boats, capitalizing on a manager's knowledge of the marine scene in French-speaking nations. All the other boats sat like parked cars, nose to the dock. “He wants an easy getaway.” Cage and his guys make a living taking from the rich. He’s one of a handful of the world’s most sophisticated repo men. And while the language may be different Business, HIS business, is booming. “We sold 12 boats and airplanes in a day,” he told us. His biggest repo? A nearly new $14 million Gulfstream jet taken from a real estate developer who fell behind in his payments. Cage often sells the repossessions South of the border, many boat owners are choosing to sell their crafts via yachtbrokers, dealers or even their financial institutions (in the case of repossessed boats better off doing business with a private seller or an established dealership?” .

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