I take it from your posts BB that you sold the mythical NM stock short? Frankly, I'm puzzled by your seeming enthusiasm over this tragedy. But I'm sure it's just me and my smattering knowledge of the blood, sweat and tears Bud and group have put into NM for the past decade or more.
You may take it I had no interest in buying any or all of their stock or having anything to do with the company nor do I now. But that really has nothing to do with my feelings here. I take no pleasure in the demise of Northern. But my sympathies don't lie with the owners, rather I feel horrible for all the others hurt as a result of things that have happened. I feel pain for the employees, the vendors and the multiple buyers with boats in production including the buyer of the boat that sank. When they have all been made whole then I'll feel differently.
Let's be clear, the management and ownership of the company is at fault here. Regardless of why the boat rolled and sank, they're the ones who had the responsibility to not let that happen. They are the ones who closed the doors. And you say a horrible accident led to that? Not within one day. The accident shouldn't have caused such. It should have been fully insured. And it shouldn't have happened. Boat tilts, you stop and continue? They should have had adequate protection and working capital. Management and ownership has responsibilities. They're the ones in control. A lot of others have been very hurt by this. I don't know the owners. I know they've been at it a long time. I feel on a personal basis for anyone who has encountered problems regardless of whether of their own causing. But Northern Marine hasn't been successful for many years. There obviously was some great imperative on their part to launch this boat right then, regardless. Doesn't really matter whether it's the dollies or the boat or both at fault.
So the greatest parts of my sympathy go to the little guys, the ones who did nothing wrong. The ones working just to support their family. The ones trusting the build of their boats to Northern. The ones who are highly unlikely to recover their money. Ownership returns the money to all those who have made payments and don't have boats to show for it, then I'll get on my knees and praise them for their sweat, tears, and honor.
It will be a long time sorting through all the specifics.
And for the record, I take generally this same stance every time a company closes in a manner like this. I feel deeply for those who lose so much through no fault of their own.
As to the company, just an entity, not a human. Well, although another legal entity, this is just a repeat of history. Doors close. Many hurt. Of course last time the current owners were able to buy the assets and restart the company.