Genmar bankruptcy unexpected shocker
Only a few months ago, Irwin Jacobs, head of mega-sporting business Genmar Holdings, Inc., was talking about plans to start a finance group to help boat enthusiasts secure financing in a credit market so tight that good credit borrowers couldn't get a boat loan.
With that financing arm, Jacobs said, Genmar would hopefully duplicate what he felt was one of the most successful units ever at General Motors - General Motors Acceptance Corporation, the company's finance unit.
Late Monday afternoon, Jacobs' Genmar Holdings, Inc. shocked the boating and outdoor world with a filing for protection from creditors via a Chapter 11 bankruptcy petition.
New season: The official start of fishing summer (June 5-8) starts this weekend with the annual arrival of Free Fishing Days in Illinois as well as a host of other states.
Free Fishing Days equates to "you don't need an angling license or special stamps to sample the fishing on all of Illinois' waters."
This ritual is primarily geared to get first-time anglers on to the water to sample the possibilities.
Fishing report: And here's what awaits you when you head for the water.
Fox Chain: Excellent bluegill fishing on the following lakes: Pistakee, Petite, and Channel. There's better muskie action on Channel Lake now with a few large fish spotted cruising the shallows of Lake Catherine. Check the Spring Lake channel for current areas and walleye activity.
Fox River: Smallmouth action getting hotter right close to shoreline areas again, especially near Algonquin and Carpentersville.
Bangs Lake: Excellent largemouth bass activity on the far east end.
Lake Michigan: Perch fishing is slowly picking up off Chicago's usual producing spots, like Belmont and Montrose Harbors. The coho salmon bite appears to be tad better out of Winthrop harbor, but Chicago trollers are taking some fish in the 50-80 foot range.
• Mike Jackson can be reached via e-mail at angler@mikejacksonoutdoors.com, and you can catch his radio program 6-7 a.m. Sundays on WSBC 1240-AM.