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Wow! What was Mastercraft thinking??

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  • Wow! What was Mastercraft thinking??

    I found this interesting reply from Mastercraft to its customers on their team talk forum regarding their ridiculous Cash Rewards scheme. THANK GOD I OWN A NAUTIQUE!!



    Here is what MC had to say to its customers upset about Cash Rewards. (cut/paste from MC Team Talk and now removed)


    OK guys – I am going to address this and then this is it. This thread will be closed. Furthermore any future threads about Cash Rewards will be deleted because this dance is getting really old. And if you want to challenge that, we will simply take the site down indefinitely. But before I give you the official statement, let me say a few things …again:

    1) Those of you wanting an apology, you can go ahead and quit reading. There will be no apology because MasterCraft did nothing wrong. We stand by our decision to promote and endorse Cash Rewards.

    2) Team talk is not… I repeat… is NOT a forum where you are allowed to bait us, heckle us and demand some sort of answer from us. That was never the intent of Team Talk and if that is what you guys keep pushing, we will just to end it. We have channels in place for you guys to address your concerns and I can assure you this is not the place. It isn’t that we do not care but presenting it here does little to no good because we are NOT going to handle your issues here. Bottom line - contact a dealer or our customer service instead of hiding behind a mob that “carries” keyboards and monitors instead of a pitchforks and torches.

    3) Please stop the whining about the good ol’ days when MasterCraft did not monitor, close or delete threads. Need I remind you that in the good ol’ days there were not nearly as many members as there are presently? Consequently we created rules for OUR site (yes, our site) that would ensure OUR forum did not become a place where we or others got bashed… at OUR expense. So we monitor, close and delete threads because you guys break the very simplest of rules. For example, we ask that you make no derogatory comments about MasterCraft, yet here I am posting in the “MasterCraft…Cowards??” thread. Bottom line, we have expectations of reasonable discussions by reasonable people, however, that seemingly is becoming harder and harder for you all to do. As a result, we create and enforce rules to ensure sanity and reasonability. If that doesn’t work, then we will take the site down.

    4) Learn the importance of being a bit more objective. The fact that a bunch of you are so fired up about this when none of you used it (except JohnE) is simply childish. Truth is we have been working countless hours on the phone with CR and customers trying to make sure the landing is the smoothest it can be. While many of us here are doing that for the customers that actually used the program, you are on TT acting like you are best friends with the guy that died in high school when the truth is you never had anything to do with him.

    With that said, here is the official statement from MasterCraft about Cash Rewards relevant to what we know at this time. And yes it is from our lawyers because one of the things you never take into consideration when you don’t hear from us is the liability of any written response. Without further adieu...

    OFFICIAL STATEMENT:
    “We understand that there are a lot of questions surrounding Cash Rewards, Inc. (“Cash Rewards”) and the Cash Rewards program developed and administered by Cash Rewards in light of the recent bankruptcy filing by Cash Rewards in Dallas, Texas. We at MasterCraft have questions as well. But we are not in any position to answer questions at this time because the U.S. Bankruptcy Court has not set forth a plan for us, or any other creditors, to follow. The fact remains that Cash Rewards operated a promotional program and who, like many other financial institutions, encountered an unprecedented financial crisis. Cash Rewards is not affiliated with, is not owned by, and is not under the control of MasterCraft. Instead, Cash Rewards is an independent business entity who operated a promotional program with MasterCraft (through MasterCraft’s contract with Cash Rewards) and with various other businesses in a variety of industries. In accordance with the contract, all monies paid into the Cash Rewards program were to be held in escrow pursuant to the terms of the Cash Rewards program. A Bankruptcy Trustee has been appointed to oversee the administration of future claims relating to the Cash Rewards program. It is MasterCraft’s understanding that the Trustee will appoint a new Independent Third Party Administrator to administer the claims process going forward. So while no new certificates may be issued under the Cash Rewards program, consumers who are holding Cash Rewards Certificates will be able to follow through on their claims subject to the terms of the program and subject to any future orders that may be issued by the U.S. Bankruptcy Court.”

    Bottom line – MasterCraft has fully paid their obligations to Cash Rewards so if the dealer paid their part and the customer did their part CORRECTLY, their money is safe and they will receive payout.

    For those of you wanting a contact to address issues with Cash Rewards, we have not received the information from the courts. Once we do, we can certainly make that available.

    Now go do something more productive…

  • #2
    Wow. Just...wow.
    Current Boats —> 2021 Super Air Nautique G23 (On Order) -- 2020 Super Air Nautique G23 -- 2003 Air Nautique 226 -- 1999 Air Tique 176 -- 1981 Fish Nautique (TWIN ENGINE 1 of 3)
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    • #3
      That's why I DONT own a MC. That attitude seems to follow from the company to the dealers and then a lot of the owners. The longer I own my Nauti the happier I am.

      Comment


      • #4
        Wow... I cannot believe this is an official statement from MasterCraft!

        Im glad to be picking up my first Nautique next week!
        2017 Super Air Nautique G23 Coastal Edition
        Crusader H6 Coastal Direct Injection 6.2L
        2010 Super Air Nautique 210TE Coastal Edition
        Crusader 6.0L ZR-409

        Comment


        • #5
          OMG. Wow. Just, wow.
          2012 Axis A22 - on order
          2011 Axis A22 - sold
          2010 SANTE 230 - sold
          2009 SANTE 230 - sold
          2008 SANTE 230 - sold
          2007 VLX - sold
          2002 XStar - sold
          1990 Prostar 190 - sold

          www.chattwake.com

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          • #6
            No wonder we keep hearing rumors that they are going bankrupt. I wouldn't buy anything this day and age from a company that treats their customers like that. Wow is right.
            Current: 08 Super Air 210 Team
            Previous: 07 Super Air 210 Team
            Previous: 02 MC Pro Star 197

            Comment


            • #7
              I never understood it from the beginning. MasterCraft dealers promoted a plan whereby you purchased your boat at a negotiated price and then X number of years later you sent in the required paperwork and you received a check for $10,000. Tons of threads, fairly quickly deleted on TeamTalk, about how Cash Rewards was really picky about the paperwork and frequently rejected claims for no apparent reason. While it was not an MC owned program it was certainly advertised as at the very least being endorsed by MC. In fact I think I remember getting an email from MC about purchasing a new boat and "cashing in" with the Cash Rewards program.

              Reminds me of the Extended Warranty plans that auto dealers used to sell. By the time your car reached the point where it could be used the company had filled for bankruptcy and moved on to start a new one. The scam ones for the most part went away after the State's AG's went after them.
              2018 200 Team H6
              2009 196 Team ZR 409
              2005 196 Limited ZR 375
              2003 196 Limited Excalibur
              1999 196 Masters Edition
              1995 ProStar 190 LT1 (Bayliner)
              1987 ProStar 190

              Comment


              • #8
                Is it like one big happy fuzzy Mastercraft commercial over there? I have never been. Say something negative and it goes away? And then get lectured about it? How nice.... for Mastercraft.
                If that program was on the level, customers have every right to have a cow about it, and talk openly, regardless of who operates the site. $10000? Really.....?
                Last edited by WakeSlayer; 01-20-2010, 10:27 AM.
                the WakeSlayer
                1999 Super Air - Python Powered <-- For Sale
                1968 Correct Craft Mustang

                Comment


                • #9
                  WOW. Looks like that guy forgot about marketing class University of Tenn is right around the corner and they have a great marketing program. There are a lot better ways to handle that situation.

                  Couple things we should all be thankful for:

                  1. Jeff - for running an independent site from CC. Oh and a great new site. How cool is it to have spell check!!!!
                  2. Larry Shea, David Hendrick, Ron Nace (hope I spelled that right) and the rest of customer service at CC. They are great. Although I have not always received the answer I wanted to HEAR, I always got an answer deliveried in a professional way and given direction to fixing my problem. That is what is important to me.
                  3. 97% of the CC dealer network. CC has some of the best people.

                  Maybe we can post the link to this forum on their site. I'd bet there would be a couple CC sells out of it.

                  Comment


                  • #10
                    I think we should appoint this MC official as our ambassador to China. We would be at war in about 5 minutes.

                    Instead of discounting their prices like their competition, they knowingly entered into a suspect promotion with a third party that was designed from the beginning to trip people up and pay as little of the cash back as possible, and then advertised it like it was the second coming. MC, your just dessert has been served. How does it taste?
                    Now
                    2000 SAN

                    Previously
                    1999 Air Nautique
                    1996 Tige Pre-2000
                    1989 Lowe 24' Pontoon / Johnson 100HP outboard

                    Comment


                    • #11
                      To be fair you have to understand that this has been going on over on TeamTalk for years. Because people were having a tough time getting their money from Cash Rewards they were posting a lot on Team Talk. Threads would go on for pages and pages with owners being upset and dealers defending and after a time would be deleted by their moderator. Obviously with Cash Rewards going Bankrupt it came to a head and someone at MC snapped big time. Pretty much a ponzie scheme, Cash Rewards is betting on owners not keeping their boats for the required length of time, trading up, and continued escalating boat sales.
                      2018 200 Team H6
                      2009 196 Team ZR 409
                      2005 196 Limited ZR 375
                      2003 196 Limited Excalibur
                      1999 196 Masters Edition
                      1995 ProStar 190 LT1 (Bayliner)
                      1987 ProStar 190

                      Comment


                      • #12
                        I wonder how they come up with this
                        "Bottom line – Mastercraft has fully paid their obligations to Cash Rewards so if the dealer paid their part and the customer did their part CORRECTLY, their money is safe and they will receive payout."
                        If the rewards company is out of money and MC has no plans on paying where is the money coming from? I know our Malibu dealer(now out of business) was offering the same 10K deal. Does anyone know what there position is on this?

                        Comment


                        • #13
                          What is this deal, cash for clunkers! Sorry, couldn't resist:-)
                          '08 196LE (previous)
                          '07 196LE (previous)
                          2 - '06 196SE's (previous)

                          Comment


                          • #14
                            This is how it works. CR numbers crunchers look at the following:

                            1. Take $10,000
                            2. Discount it by X% of people who CR expects will forget about the rebate (let's say down to $8,000)
                            3. Discount it by Y% of the people who CR expects will not follow the instructions to the letter (huge number based on the nearly impossible instructions devised by CR, let's say down to $3,000)
                            4. The mail is not perfect, so discount for "lost" mail, (let's say down to $2,000)
                            5. Charge MC $2,000 and the dealer $2,000 and expect to make 100% profit, spend the money quickly, and if it turns out the assumptions are wrong, declare bankruptcy from a tropical island while sipping drinks with little umbrellas!
                            Now
                            2000 SAN

                            Previously
                            1999 Air Nautique
                            1996 Tige Pre-2000
                            1989 Lowe 24' Pontoon / Johnson 100HP outboard

                            Comment


                            • #15
                              Funny, this program was all the rage when I bought my 211 in 2005. The MC and Malibu booths even had banners adversing the programs (both were owned by the now bankrupt Cope and McPheters/Ultimate Water Sports group). After about 2 seconds of thought I was dumbfounded that they thought boat buyers were so stupid that they believed this pyramid scheme could ever work and pay them a single cent. Seemed like salesmanship at it's finest, greed over all else.
                              Last edited by Mikeski; 01-20-2010, 03:41 PM. Reason: typo

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