Outboard Marine Corporation
Outboard Marine Corporation
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- Inventory on the way
Product Details
Company | Outboard Marine Corporation |
Certificate Type | Sinking Fund Debenture Bond |
Date Issued | 1970's |
Canceled | Yes |
Printer | Security-Columbian Bank Note Company |
Signatures | Machine printed |
Approximate Size |
12" (w) by 8" (h) |
Product Images |
Representative of the piece you will receive |
Authentic | Yes |
Additional Details | NA |
Historical Context
Outboard Marine Corporation sometimes referred to as Outboard Motor Company was formed in 1929 when ELTO was merged with Lockwood-Ash Motor Company. They began using the name OMC in 1956.
Outboard Marine Corporation was the world's largest manufacturer and supplier of outboard motors and second largest producer of powerboats. Based in Waukegan, Illinois the company had become famous for its brand-name Johnson and Evinrude outboard motors, as well as its Chris-Craft and Grumman powerboats. Other products under the brand names of Four Winns, Seaswirl, Trade Winds, Sunbird, Stratos, and Hydra-Sports include fiberglass runabouts, cruisers, performance boats, and craft for offshore fishing. Outboard Marine also marketed clothing for boating, and resort wear.
Unfortunately, during the late 1980s and early 1990s, Outboard Marine had a difficult time keeping up with the competition, notably archrival Brunswick Corporation, currently the world's largest manufacturer of powerboats.
In April 1997 OMC hired Salomon Brothers to explore future option such as a buyout or merger. In 1997 Detroit Diesel made a $16 a share bid for OMC. They were outbid at $18 a share by Alfred Kingsley who previously owned 2 million shares purchased at $17 a share and had no experience in the outboard industry. The deal was backed by George Soros. Carl Icahn, a corporate raider who bought TWA in 1988, is said to blame Kingsley his lieutenant during the 1980s for the ensuing TWA bankruptcy a few years later. David Jones, former Mercury Marine Division president until August 1997, was hired by Kingsley in September 1997 to become the President and CEO of OMC, but resigned in August 2000 due to financial turmoil at OMC. In March 1998 OMC laid off 200 employees after earlier laying off 348. In September 1998 OMC announced the closure of their Milwaukee, Wisconsin and Waukegan, Illinois plants over the next two years.
Related Collections
Additional Information
Certificates carry no value on any of today's financial indexes and no transfer of ownership is implied. All items offered are collectible in nature only. So, you can frame them, but you can't cash them in!
All of our pieces are original - we do not sell reproductions. If you ever find out that one of our pieces is not authentic, you may return it for a full refund of the purchase price and any associated shipping charges.
FAQ
Are the certificates offered on your site genuine or reproductions?
All of the certificates you see on our site are genuine pieces, we do not sell any reproductions.Are the certificates you sell negotiable on any of today's stock markets or indexes?
No. All of the pieces we sell are either canceled or obsolete and have collectible value only. Â
Are the images presented in your product listings of the exact piece I will receive?
It depends. We try to present images of the exact piece you will receive whenever possible. However, when we are offering quantities of a piece, this is impossible. Within every product page we detail whether or not you will be receiving the exact certificate listed, or if the image is a representative example of the one you will receive. Â
How will you ship my order and how much do you charge?Â
We ship all orders via the United States Postal Service. Most domestic orders are shipped via Ground Advantage. USPS International, Priority and Express Mail, UPS and DHL services are also available, and costs are calculated during checkout. Current charges may be reviewed here.
Can I return my purchase?Â
Absolutely. You may return any merchandise, for any reason, within 30 days of the purchase date for a full refund of the purchase price.
We guarantee all of our pieces to be authentic. If you ever determine that a piece is not authentic, it may be returned for a full refund of the purchase price as well as any associated shipping charges.
Shipping
If your order exceeds $35, and the shipping address is within the United States, shipping via USPS Ground Advantage is FREE!
We make every effort to ship out all orders within 24 hours of receipt.
We ship the majority of orders via the USPS, with domestic orders using the Ground Advantage service.
Shipping is calculated during checkout. Upgraded services such as Priority and Express Mail, as well as UPS and DHL options, are also available.
As soon as your order is shipped you will receive your tracking information via email.
OVERSEAS ORDERS PLEASE NOTE THAT WE DECLARE FULL ORDER VALUE ON ALL SHIPMENTS. CUSTOMER IS RESPONSIBLE FOR ALL VAT/CUSTOMS CHARGES.
Returns
Our goal is to make sure every item you receive is exactly what you had in mind. If you not happy with your purchase, weâll help you get it sorted in a timely and professional manner.
You can return anything we offer for an exchange, refund or store credit within 30 days of delivery. Return shipping costs may apply, and the item must be in its original condition and packaging.
Any shipping charges collected on the original order are not eligible for a refund.