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Everything About Bertram Yachts – The History & Story

• Bertram Yachts
• Everything About Bertram Yachts –…

Bertram Yachts have a long American heritage that potential Bertram yacht owners should know about. In this blog, we have mentioned the complete history of the company that helped them get where they are right now. If you love reading history through a timeline, you are definitely going to like this one.

Timeline History and Story of Bertram Yachts

Richard bertram and his fondness for yachting.

Bertram was a competitive sailor and owned a yacht brokerage firm, outside of Miami that he started in 1947. This was his bread before he began the Bertram Yachts. But his fondness for yachting can be dated way back. He was about eight years old when he got his first boat which was a 15’ sneakbox. This was the age when boating became his favorite pastime.

While he was studying at Cornell University, he founded Cornell’s very own Corinthian Yacht Club. Under his participation, the university club won several sailing titles till 1937. He continued sailing even after moving to Miami and even made it to the World Lightning Class championships for the years 1948 and 1949. He went on to participate in several races only to find a company in the other two people. These people were Sherman F. “Red” Crise and Sam Griffith.

Foundation of Bertram Yachts (1960)

In 1958, while participating in one of his races, Richard Bertram noticed a 23-foot-long beauty and immediately fell in love with it. He had never seen a powerboat so magnificent that he himself wanted to own one. He asked the designer, C. Raymond Hunt, to design one for him. Using Hunt’s plan, Bertram in 1960 built his first powerboat yacht Moppie. It was named after his wife’s pet name. This laid the foundation of Bertram Yachts.

Bertram Yachts And The Legend of The 31 Moppie

The Bertram 31 Moppie stands as a testament to Bertram’s genius. The yacht quickly gained acclaim for its superior design and seaworthiness. This iconic vessel became a symbol of Bertram’s commitment to building high-performance yachts that could withstand the rigors of competitive racing and pleasure cruising alike.

Introduction of New Boats (1962, 1963 and 1964)

Bertram Yachts later went on to build new boats. There were three that were built, which were: The 25’ line in 1962 The 38’ line in 1963 The 20’ inboard/outboard model in 1964 While producing these yachts, Bertram decided to have its own production unit. Many people do not know but the production facility was designed in such a way that it could also work as a food-processing warehouse, just in case. Luckily, Bertram never needed it.

Memorial Race for Partner Griffith (1963)

Bertram’s partner passed away in 1963. So, Richard Bertram organized a memorial race to pay tribute to him. Not only did he organize but he also participated and won the race.

This event was not just a tribute but also a demonstration of Bertram’s enduring prowess and dedication to the sport. Dick Bertram participated in the race, showcasing his skill and determination. His performance was nothing short of remarkable. This victory elevated Bertram’s status to that of a celebrated yacht racer and influential figure in the maritime world. His triumph in the memorial race earned him significant media attention, leading to appearances in Rolex advertisements and billboards promoting Camel cigarettes. Bertram’s successful association with the title of ‘Champion’ solidified his legendary status and further cemented the Bertram name in the annals of yachting history.

Nautec Purchased Bertram

Despite Bertram’s success and the iconic status of the 31 Moppie, the yacht manufacturing business faced challenges following Bertram’s departure from the company. The factory experienced a period of stagnation, and the future of the Bertram brand seemed uncertain.

In the wake of this turmoil, Nautec, a prominent entity in the maritime industry, stepped in and acquired the Bertram brand. This acquisition was pivotal in revitalizing the Bertram legacy. Nautec’s investment in the Bertram facilities ensured that production resumed, and the Bertram name continued to be synonymous with quality and innovation in yacht building. Under Nautec’s stewardship, Bertram yachts retained their prestigious reputation, building on the foundation laid by Richard Bertram and his groundbreaking designs.

Whittaker Corporation Purchased Bertram (1968)

In 1968, Bertram Yachts underwent a significant transition when Whittaker Corporation acquired the company from Nautec. This change in ownership brought renewed vigor and ambition to Bertram. Under Whittaker’s stewardship, Bertram continued to dominate the competitive yachting scene. The brand maintained its reputation for high performance, clinching victories in various prestigious events. Whittaker’s investment in Bertram ensured the company not only retained its competitive edge but also expanded its influence in the yachting world.

The Era of Steady Growth (1970 to 1980)

The 1970s through the 1980s marked a period of remarkable growth for Bertram Yachts. During this era, the company capitalized on its strong foundation and continued innovations to expand its market presence. The steady growth was driven by Bertram’s commitment to quality and performance. The yachts produced during this period were renowned for their craftsmanship and advanced design, contributing to the brand’s increasing popularity among yacht enthusiasts. This growth era solidified Bertram’s position as a leading name in the industry, renowned for its luxurious and high-performance vessels.

Hatteras – The Arch-Rival of Bertram (1980s)

As Bertram Yachts continued to thrive, the 1980s brought a new challenge in the form of Hatteras Yachts. The competition between these two giants of the yachting world was intense. Hatteras emerged as a formidable rival, offering a more diverse range of models. The competition was not just about technological advancements but also about market share and innovation. Despite Bertram’s strong performance, Hatteras’s broader model range allowed it to capture a significant portion of the market. This rivalry was a defining moment for both brands, shaping the direction of the industry and the future of luxury yachts.

Financial Difficulties for Bertram (1993)

The early 1990s brought significant challenges for Bertram Yachts. The company’s focus on sportfishing boats, combined with a weakening American economy, created financial strain. The economic downturn affected the luxury goods market, and Bertram was not immune to these pressures. By 1993, the financial difficulties became severe, leading to a forced shutdown of the company. This period was a challenging chapter in Bertram’s history, marked by uncertainty and the need for strategic reassessment.

Bertram Yachts Purchased by Ferretti Group (1998)

In 1998, Bertram Yachts was revived when the Italian Ferretti Group acquired the brand. This acquisition marked a new era for Bertram, bringing fresh energy and innovation to the company. Under Ferretti’s ownership, Bertram underwent a significant transformation. The Italian group invested in modernizing the brand and introduced several new and impressive models. This revival not only reestablished the brand’s presence in the yachting world but also ensured the legacy of its high-performance and luxury yachts continued to thrive.

The Sad Demise of Richard Bertram (2000)

In 2000, the yachting world mourned the loss of Richard Bertram, the visionary founder of Bertram Yachts. His passing marked the end of an era for the company he had so profoundly shaped. His innovative spirit and dedication to yacht design established Bertram as a leader in the industry. Bertram’s legacy includes not only the groundbreaking designs of the 31 Moppie but also his contributions to competitive yachting, which helped define the standards for luxury and performance at sea. His death left a void in the world of yachting, but his influence continues to be felt through the enduring legacy of Bertram Yachts.

Acquisition of All Bertram’s Assets by Gavio Group (2015)

In 2015, Bertram Yachts experienced a new chapter when the Gavio Group acquired all of its assets. The acquisition by the Italian conglomerate marked a strategic move to revitalize the Bertram brand. Gavio Group, known for its investments in luxury and high-performance brands, planned to leverage Bertram’s history to introduce new models and innovations. This acquisition aimed to blend the brand’s legacy with modern advancements, ensuring the brand continued to deliver excellence in yacht design and performance.

Legacy and Influence

Bertram’s impact on yacht design.

Bertram Yachts has had a profound impact on yacht design over the decades. The brand is renowned for its emphasis on performance, durability, and innovation. The introduction of the Bertram 31 Moppie in the 1960s, for instance, revolutionized sportfishing yachts with its superior hull design and handling characteristics. Bertram’s commitment to engineering excellence set new benchmarks in the industry, influencing the design of sportfishing and luxury yachts worldwide. The company’s focus on creating vessels that excel both in competition and leisure has left a lasting mark on yacht design.

Influence on Other Yacht Manufacturers

Bertram Yachts’ pioneering designs and competitive successes have inspired many other yacht manufacturers. The company’s innovations in hull design, engineering, and performance have been emulated by other brands seeking to replicate Bertram’s success. The emphasis on high-performance and reliable construction established by the brand became a benchmark for others in the industry. As a result, many yacht manufacturers have adopted Bertram’s design principles, leading to a broader evolution in yacht design standards.

Contributions to Yacht Design Technology

Bertram Yachts has made significant contributions to yacht design technology. The brand’s use of advanced materials, innovative hull designs, and cutting-edge engineering techniques has driven technological advancements in the industry. Bertram’s commitment to integrating new technologies into their vessels has set a precedent for other manufacturers, fostering a culture of continuous improvement and innovation. The incorporation of these technologies has enhanced performance and improved the overall experience for yacht owners and enthusiasts.

Bertram’s Community and Culture

The bertram owner’s community.

The Bertram brand has cultivated a strong and dedicated community of owners and enthusiasts. The owners often share a deep appreciation for Bertram’s history and craftsmanship. This community is united by a common passion for high-performance yachts and a shared admiration for the Bertram legacy. The camaraderie among Bertram owners extends beyond the yachts themselves, creating a network of individuals who celebrate their shared experiences on the water.

Events, Clubs, and Gatherings Related to Bertram

Bertram Yachts fosters a vibrant culture through various events, clubs, and gatherings. These include yacht shows, regattas, and owner’s club meetings, where enthusiasts come together to showcase their vessels and celebrate the Bertram legacy. These events provide opportunities for Bertram owners to connect, share stories, and participate in the broader yachting community. The brand’s events and clubs help maintain the strong sense of tradition and community that has been a hallmark of the company since its inception.

The Present Scenario of Bertram Yachts

Despite the ups and downs and the acquisition changes, Bertram continues to be a popular yacht brand. In 2018, Bertram Yachts under the ownership of the Gavio Group introduced a new model, Bertram Yacht 61 Convertible at the Newport International Boat Show on September 13, 2018.

At Miami International Yacht Sales, we have an amazing lineup of Bertram yachts for sale . To own a Bertram, reach out to our expert yacht brokers now. Call us at +1-305-857-8939 to book an appointment today!

Also Read: Everything You Need to Know About Bertram Yachts Interesting Facts About Bertram Yachts

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Bertram Yachts’ History

A rented warehouse in Hialeah, FL was the original base of production of the now-legendary 31 Bertram. Richard Bertram had a string of racing successes in various Moppie models, culminating in his setting the World Speed Record for diesel engines. He applied the structural integrity knowledge he gained during the races to constructing new models. The company built 1,986 Bertram 31s over 16 years, including 50 special-edition models. The iconic vessel came in four configurations: the original open Sportfisherman with a lower steering station and no aft bulkhead, the Fly Bridge Cruiser with a rear bulkhead, a hardtop, an express cruiser, and the Bahia Mar model.

Whittaker Corporation acquired Bertram in 1968, expanding the Bertram factory to become one of the largest pleasure-boat builders in the world. Over the next five decades, the legendary Miami-based sport fishing yacht manufacturer has become one of the world’s most successful and respected marine enterprises. Over the entire span of Bertram Yachts’ History, the company has built unparalleled customer loyalty with their dedication to the finest details of design and engineering. In 1998, after a series of non-boatbuilding owners, Bertram Yacht joined the Ferretti Group, a conglomerate company in motoryacht manufacturing. Their combined technologies and processes have created new levels of luxury and pleasure in the sport fishing market.

The fishing room and comfort of the roomy cockpit is unrivaled by any vessel her size. A large BlueWater fighting chair centers the cockpit and the sole is covered in premium grade teak. Built into the transom is a large live well, illuminated by LED lights for your convenience. In the main salon, there is an enormous bed forward to the bow with oversized cushions and lockers to port and starboard. Beneath the port locker is a refrigerator with storage and a separate compartment for the Marine a/c unit. A set of custom tackle boxes is in the backrest above this locker, and to port is a custom rod locker that locks by key and holds many rods, butts, and reels. The head is located beneath the forward bunk, and a generous amount of spinning rod storage is above the bed port and starboard. Above on bridge is a custom Pipewelders hardtop and rail with rod holders and custom eisenglass. All surfaces of this beautiful Bertram yacht are finished in premium grade varnished teak and glistening Awlgrip, and she is currently listed at US$219,000.

Atlantic Yacht and Ship is America’s oldest and most respected yacht and ship brokerage , with over 53 years of experience in yacht and superyacht sales. We have a large selection of new and used luxury yachts for sale , and take great care in matching our clients with their ideal vessels. The purchasing of a yacht can be an intricate and complex endeavor. At Atlantic Yacht and Ship, we have the reputation and experience to strategically guide you through this process and make buying a yacht a joy. Contact Atlantic Yacht & Ship at 1.888.230.0439 to make your dream of yacht ownership a reality!

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Full Chapter One

• Bertram Yachts

by David Pascoe

Yep, this is our introductory photo to Bertram Yachts. Not very complimentary? Read on because in the aftermath of hurricanes Andrew and Opal, most Bertrams survived  with as little damage as this one did.

Bertram has a well-deserved reputation for building rugged, high quality boats. Bertram has an interesting history, for it was one of the three first production boat companies to start up in 1961 along with Hatteras and the Henry Hinckley Company, all   known for producing top quality boats that have survived to this day.  Well, almost, for the current status of Bertram seems to be that it is teetering on the edge of extinction.

The success of Bertram came about as the result of Dick Bertram's commitment to quality, Ray Hunts revolutionary deep vee hull design, and the timeliness of Castro's overthrow of the Bastista government which brought a flood of cheap labor to Miami. This was augmented by the fact that the Cuban refugees that got jobs at Bertram usually kept them for a lifetime, meaning that the turnover at Bertram was nearly zilch, meaning that Bertram employees were well trained and knew what they were doing.

More that three decades later, the downfall of Bertram was probably that Bertrams ended up being built by Cubans for Cubans, for the later management made the disastrous mistake of concentrating solely on the sport fishing market by completely abandoning the cruising market. When the '89 recession hit, they ended up being in the wrong niche market, from which this large operation could not recover.

Although Bertram did produce many motor yachts, these were half-hearted efforts that often resulted in poorly performing boats based on a deep vee hull that resulted in extremely inefficient fuel hogs that required too much horsepower to drive. Add to that their marketing feel far short so that Bertram ultimately defaulted the entire extremely lucrative motor yacht business to Hatteras, a factor which insured Hatteras's success.

The reputation of Bertram is built on rough and rugged sport fishermen based on the original Ray Hunt design that produced boats that keep on going when others had to put into port. But the downside of a very deep vee hull is that they are inefficient and require a lot more horsepower, as well as fuel, to drive them.  This also resulted in a lower profile hull that significantly limits interior space, a factor which gave Hatteras room to compete in the fish boat market by making beamier boats with bigger and more plush interiors that pleased the ladies.  Apparently Hatteras wisely recognized that the lady of the house

Interiors on these boats are often downright spartan. Not for nothing are they often referred to as macho boats, what with all the formica you'll find on any Bertram made before 1990. The good news is that this can easily be changed by covering with veneers, vinyls or fabrics  over the mica, which can transform some of these dreary interiors in no time.

This lead to Bertram and Hatteras becoming arch rivals with Hatteras ultimately emerging as the winner. While the Bertram crowd rather arrogantly looked down their noses at the folks in High Point, Hatteras sales soared while Bertrams remained relatively flat. Until the '89 recession when they went to zero  from which they never recovered.

While Bertram is often the quality standard by which all others are judged, you may be surprised to hear me say that that reputation is not always well deserved. While I would ascribe some of the industry's best R&D and quality control to Bertram, these boats are not the floating tanks like many people believe. For over two decades Lee Dana was the chief of engineering at Bertram, and from what we've seen of these boats Lee clearly knew where to put the beef and where to take it out.  For the fact is that with a deep vee hull, the weight of these boats had to be kept down if you were going to get any kind of speed out of them, and that is a lesson Bertram learned early on. Model for model, you may be surprise to find that Bertrams are lighter than a Hatteras, especially in hull laminate thickness.

Throughout these pages, we've shown you a lot of pictures of boats that have gone through  hurricances. After seeing so many of these boats bashed and battered, we know how they're built, and we can tell you that they really are tough cookies. These hull laminates are no thicker, or at least not much thicker,  than anybody else's, but it is the engineering expertise - often utterly lacking in so many others -  that makes the difference. These hulls are plain old woven roving construction and hold up better than all the exotic materials you hear about put together. When you hear builders touting the latest and greatest high tech stuff, we say HOOEY! And we'll be pleased to show you the proof, because its contained right here on the pages of this web site. That's why, over and over again, we show you pictures of busted up boats. The only way to test 'em is to break 'em, and that's what storms do.

You may have heard that Bertrams don't blister. For the most part, that is true, although there have been a few. As one who has occasionally wandered through the Bertram yard, we know that one of the reasons is quality control. For example, a green dye was usually added to the resin to help show up incomplete wet out. Also, it was Lee Dana himself who told us about tank coating, the process of using a high quality resin on the exterior and lower quality in the later laminations. No doubt the wrong resin occasionally got sprayed at the wrong time.

This is not to say that you'll find many Bertrams falling apart, although that is not without precedent. As the photos on this page shows, we've seen a lot of Bertrams wrecked by hurricanes so we know how they're built. As a rule, these solid fiberglass hulls will outperform any cored hull under any conditions. As with Hatteras, we've seen dozens of Bertrams survive storms that destroyed all their neighbors. If the ability to survive after hitting a coral head or taking a wave over the stern concerns you, these are the kind of boats to consider. Just be aware that, as with all other builders, mistakes are made. As with all builders, occasionally they do some pretty dumb things - like bolting a cleat to a block of wood that is basically glued to the hull, as you will find in the 42C, and as discovered after hurricane Andrew as all the 42's ripped their cleats out.

Both companies wisely stayed away from exotic materials and continued to build from basic roving and balsa cored construction, decisions that spared them any costly mistakes. Well, almost. In fact, both companies experimented with foam cores in the mid 1980's with both efforts resulting in failures, both in their 38' line of sport fishermen. The experiments quickly came to an end and was not tried again.

One of the worst things you'll find about Bertram are the generators placed under the cockpit decks which, up until the early 80's were wood. Needless to say, the decks leaked like crazy and ruined the generators. Battery placement was usually a nightmare, and if you don't maintain the batteries you end up with a lot of dead ones and frequent replacements. Engine room layouts are usually quite a bit less than ideal, usually cramped and  hard to maintain. Rarely was consideration given toward maintenance, which no doubt contributes greatly to why so many of these older boats are so poorly maintained.

So what about buying used Bertrams today? Much of the fleet is now finding its way to the back lots of boat yards. Prices are down far enough that people who really can't afford them have bought them, only to find that  the upkeep of these aging yachts, particularly the immensely popular but fuel-hoggy 46 Convertible, is a whole lot more than they expected. The small boats, and the more popular 37 and 54 Convertible are still hot items on the market and command steep prices.  But probably one of the best values to be had these days is the rugged 42 Convertible which is not so big and heavy that you need monster diesels to make them go. The 33 & 37 are great boats that initially carried high price tags made even higher by the addition of towers and all the bells and whistles. Yet as time goes on, these prices steadily decline, bringing some of these gems within reach of the less-than-rich.

Unless you're got the bucks, beware of buying diesel Bertrams.  They are hard on engines and keeping them going gets downright expensive. The best values for the budget conscious are with the gas engine boats. But make sure that your choice isn't underpowered because over-worked gas engines don't last long.

Bertram 26.6 II   |  Bertram 28 II   |  Bertram 30 Express | Bertram 30 Moppie | Bertram 31 SF |    Bertram 36 Moppie    |   Bertram 42 Convertible   | Bertram 46 Convertible

From featured article: " MARLIN MONROE " Bertram 42 Convertible

Added Jan-29-2009 From Core and Structural Issues: " Bad News for Bertram " (2008 Bertram 63 Hull Failure - Hull Delamination)

David Pascoe - Biography

David Pascoe is a second generation marine surveyor in his family who began his surveying career at age 16 as an apprentice in 1965 as the era of wooden boats was drawing to a close.

Certified by the National Association of Marine Surveyors in 1972, he has conducted over 5,000 pre purchase surveys in addition to having conducted hundreds of boating accident investigations, including fires, sinkings, hull failures and machinery failure analysis.

Over forty years of knowledge and experience are brought to bear in following books. David Pascoe is the author of:

• " Mid Size Power Boats " (2003)
• " Buyers’ Guide to Outboard Boats " (2002)
• " Surveying Fiberglass Power Boats " (2001, 2nd Edition - 2005)
• " Marine Investigations " (2004).

In addition to readers in the United States, boaters and boat industry professionals worldwide from nearly 80 countries have purchased David Pascoe's books, since introduction of his first book in 2001.

In 2012, David Pascoe has retired from marine surveying business at age 65.

On November 23rd, 2018, David Pascoe has passed away at age 71.

Biography - Long version

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• Introduction to Boat Reviews
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Published by: D. H. Pascoe & Co., Inc. Articles, Images: Copyright © 1997 - 2018 David H. Pascoe All rights reserved. Articles, Images: Copyright © 2019-2022 Junko A. Pascoe All rights reserved. Web site design & developement: Copyright © 1997 - 2023 Junko A. Pascoe All rights reserved. Web site: Maintained by Junko A. Pascoe

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New ownership for Bertram Yachts

The Gavio Group has officially acquired US sportfish yacht builder Bertram Yachts from the Ferretti Group.

Argo Finanziaria, a holding of the Gavio Group, had signed a preliminary agreement in a letter of intent with Ferretti to takeover Bertram, with the acquisition expected to be finalised by 31 March 2015. The Gavio Group, owners of Italian superyacht builder Baglietto , sees the acquisition as a chance to enhance the Group's brand portfolio in terms of the types of yachts it can offer and its reach into the US market.

Bertram Yachts was established by Richard Bertram in 1960. The iconic US builder is known for its famed Moppie yachts, built from 1960 to 1990s. The high-performance runabouts were stars on the motor yacht racing circuit, and the very first Bertram 31 Moppie won the Miami-Nassau Race in 1960, defying the worst weather conditions of the event's history to still break the race record by four minutes. The Ferretti Group acquired Bertram in 1998, and production has focused on its line of sportfishing yachts, its flagship being the Bertram 80.

Gavio Group's acquisition of Bertram follows the takeover of Cantieri Cerri in 2011 and Baglietto in 2012.

"I am very pleased with this acquisition", says Beniamino Gavio, president of Argofin and Baglietto. "Bertram is for sure the brand most similar to Baglietto as they share many common features: a family history characterised by legendary yachts; records broken and competitions won; a logo that, for both brands, is a symbol of freedom and strength (the eagle and seagull); and a very strong national identity that goes hand in hand with far-reaching international fame."

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Ferretti Group announces its presence at Moscow Boat Show 2013

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Written by Zuzana Bednarova

The Ferretti Group, one of the world top companies specializing in the design, building and sale of motor yachts, with an amazing portfolio of eight of the most exclusive and prominent brands, is thrilled to announce its participation in the Moscow Boat Show 2013. From 12 to 17 March, two of the Group fleet’s most successful yachts will be presented as absolute premieres for the Russian market: motor yacht Ferretti 530, representing Ferretti Yachts , and the 27-foot Iseo superyacht tender by Riva .

Ferretti 530 Yacht to make her Russian premiere at Moscow Boat Show

This year’s Moscow Boat Show will also offer the Ferretti Group the opportunity to announce all yachting enthusiasts in Russia and Northern Eurasia a new important achievement in its international growth: the renewal of its exclusive dealership agreement for the Russian Federation with its partner Premium Yachts , one of the leading dealers operating in the boating sector in Russia , which will represent the Ferretti Yachts , Pershing , Itama , Bertram , Riva e Mochi Craft and Ferretti Custom Line brands.

The agreement – which was officially announced today during a press conference attended, among others, by Ferruccio Rossi (Ferretti Group’s CEO), Alexey Kurochkin (Premium Yachts’s President), and Stefano Campanelli (Sales Manager for the EMEA area for Ferretti Yachts, Pershing, Itama, Bertram, Riva, Mochi Craft and Ferretti Custom Line) – is part of Ferretti Group’s strategy for a further expansion on the European markets offering the best short/medium-term growth perspectives, also thanks to the financial soundness regained following the strategic partnership forged with the Weichai Group.

More specifically, the Russian boating market holds a great potential for the Ferretti Group’s development because of the rapid growth of average wealth among the population and an increasing interest for Made in Italy luxury goods, like Ferretti Group yachts.

Through the renewal of the agreement with Premium Yachts, the Group will further strengthen its highly selected distribution network – which currently includes approximately 60 dealers ensuring the best possible customer care in more than 80 countries worldwide – as well as its presence in the traditional EMEA ( Europe , Middle East , Africa ) area, one of the three macro-regions (besides the America and the Asia-Pacific) into which the Group’s sales structure is divided.

Moreover, in a medium/long-term perspective, the Ferretti Group is expecting an increasing interest on the Russian market not only for flying bridge yachts above 70’ in length, but also towards smaller crafts, both flybridge and open/coupé ones, which are particularly suitable for river cruising or pleasure boating in Russia’s large lakes. Consequently, the renewal of the dealership agreement with Premium Yachts also allows to look ahead at the future aiming to conquer new market segments where less competitors are currently present in terms of both products and geographic location.

The press conference, which was held today at the Lotte Hotel in Moscow, had also the objective of introducing attending journalists and yachting enthusiasts to the main new products launched by the Ferretti Group over the last few months, namely: motor yacht Ferretti 870 , Ferretti 690 yacht , and the project of the new flagship Ferretti 960 superyacht for the Ferretti Yachts brand; luxury yacht Pershing 82 ’ and superyacht Pershing 108’ New Edition for Pershing; Riva 63’ Virtus and the project of the new Riva flagship, 122’ Mythos yacht , as well as the entire range of the Itama, Bertram and Mochi Craft brands.

The yachts launched over the last few months by CRN – the Group’s brand specialising in the construction of steel and aluminium yachts between 40 and 90 metres – were also presented during the conference: the two superyachts: CRN superyacht Jade (60 metres long) and CRN mega yacht Chopi Chopi (80 metres long), the latter being one of the largest pleasure vessels ever built in Italy and the largest one ever built by the Ancona-based shipyard.

“The renewal of our dealership agreement with an important partner like Premium Yachts – which has worked on the Russian market for almost 10 years and can boast an outstanding product knowledge and an excellent local market penetration – and the presentation of the Group’s latest models are an integral part of our development strategy on the EMEA markets offering the best growth perspectives in the short-medium term,” stated Ferruccio Rossi, Ferretti Group’s CEO. “The Moscow Boat Show 2013, which has now reached its sixth edition, will extend over approximately 45,000 square metres this year and will be attended by more than 350 international boating companies. This Show represents an interesting business opportunity for us and an unmissable event in terms of visibility, since we are identifying a considerable growth potential in this area thanks to the timeless attractiveness of our products – true ambassadors of Made in Italy production all over the world”.

Please contact CharterWorld - the luxury yacht charter specialist - for more on superyacht news item "Ferretti Group announces its presence at Moscow Boat Show 2013".

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Watch CBS News

Here's what to know about Mike Lynch, the tech tycoon missing in the Sicily yacht disaster

By Aimee Picchi

Edited By Anne Marie Lee

Updated on: August 21, 2024 / 12:05 PM EDT / CBS News

Mike Lynch, once hailed as "Britain's Bill Gates," is now among the six people missing after his luxury yacht sank in a violent storm off the coast of Sicily. At the time of the disaster, Lynch had been trying to shake more than a decade of legal entanglements that ended in June when he was cleared of fraud and conspiracy charges . 

On Wednesday, two bodies had been brought to shore in Porticello, near Palermo, and two more were in the process of being brought ashore. Britain's Telegraph newspaper reported that the bodies of Lynch and his 18-year-old daughter were among the remains recovered Wednesday, but the civil protection chief would not confirm that report to CBS News. 

Lynch, 59, rose to prominence in the late 1990s with the development of his software company, Autonomy, which helped businesses quickly find information buried in email and other digital documents. In 2011, Lynch sold the business to Hewlett-Packard for $11 billion, giving him a $800 million payday and cementing him as one of the U.K.'s richest people. 

But the acquisition was later called one of the "most notorious failed mergers and acquisitions" after HP discovered alleged accounting issues, leading to Lynch's firing by HP's then-CEO, Meg Whitman. HP claimed that Autonomy had used accounting improprieties to bolster its underlying financials ahead of the acquisition, charges that Lynch steadfastly denied. 

The case stretched into a 12-year legal fight that ended in June 2024 when a federal court jury in San Francisco delivered not-guilty verdicts.

"I am looking forward to returning to the U.K. and getting back to what I love most — my family and innovating in my field," Lynch said in a statement after the verdict.

Here's what to know about Lynch. 

What company did Mike Lynch start?

Lynch, who earned a PhD in mathematical computing from the U.K.'s Cambridge University, first cofounded a company called Cambridge Neurodynamics, based on the cofounders' work with pattern recognition. The firm used the tech to match fingerprints and car license plates, according to a 1997 article in The Guardian.

From there, Lynch cofounded Autonomy in 1996, which relied on a statistical model called Bayesian inference, named after a theorem developed by the 18th century statistician Thomas Bayes. (Lynch's luxury yacht was christened the "Bayesian.")

The company tapped into the growing need of businesses to sort through and find information within the vast reams of data created by the increasing use of computers and digital documents.

Autonomy's steady growth during its first decade resulted in Lynch being awarded one of the U.K's highest honors, the Office of the Most Excellent Order of the British Empire in 2006.

Lynch told The Guardian in 1997 that people didn't quite believe that a growing tech business could emerge from the U.K. 

"I have actually heard the comment, 'England, software? I thought you made bone china,'" he told the newspaper. 

What happened after Autonomy's acquisition by HP?

At first, HP celebrated the purchase as a huge coup that would propel the Palo Alto, California, company down a promising new path, but then quickly came to regret it under then-CEO Meg Whitman.

HP claimed it found accounting irregularities, and the company ended up recognizing $8.8 billion in losses in the Autonomy deal. Whitman eventually fired Lynch in 2012, while also laying off thousands of workers as HP's fortunes sagged. 

Throughout the past 12 years, Lynch rejected the allegations. He told the Wall Street Journal in 2012 that he was "ambushed" by the claims, which he described as "completely and utterly wrong."

What happened with Mike Lynch's legal case?

Lynch maintained his innocence while testifying earlier this year before a jury during a 2 1/2 month trial in San Francisco. U.S. Justice Department prosecutors called more than 30 witnesses in an attempt to prove allegations that Lynch engaged in accounting duplicity that bilked billions of dollars from HP.

The jury, as noted above, delivered not-guilty verdicts in June, vindicating Lynch, who pledged to return to the U.K. and to find new ways to innovate. 

Who is Mike Lynch's wife? 

Mike Lynch is married to Angela Bacares, who is one of the people rescued from the Mediterranean after the yacht sank. Lynch and Barares have two daughters. One of them, Hannah, 18, is among the missing, according to the BBC. 

Bacares, 57, owns shares in Darktrace, a British cybersecurity company she and Lynch co-founded, the Sun noted . She sat in the front row of the courtroom during her husband's trial, but generally has preferred to stay out of the public eye, the Times of London reported in July.

"We made the decision that Angela would not be involved in the case. She stayed completely separate. Her focus was the family and children," Lynch told the Times last month.

— With reporting by the Associated Press.

Aimee Picchi is the associate managing editor for CBS MoneyWatch, where she covers business and personal finance. She previously worked at Bloomberg News and has written for national news outlets including USA Today and Consumer Reports.

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Who was onboard tech mogul Mike Lynch's Bayesian yacht?

Topic: Disasters, Accidents and Emergency Incidents

Six people are missing, including a man dubbed the British Bill Gates, after a luxury yacht sank off the Sicilian coast.

British tech entrepreneur Mike Lynch — freshly acquitted from a decade-long trial — had invited his work colleagues aboard a trip through the Mediterranean coast when a freak storm saw the yacht sink within moments.

Fifteen people escaped from the sinking vessel. The search for the missing continues.

Here's what we know so far: 

What happened?

The Italian coastguard said the yacht — the Bayesian — was anchored off the shore of port city Porticello, near the Sicilian capital Palermo, when it was hit by bad weather sometime after 4am on Monday, local time. 

Eyewitnesses said it vanished quickly beneath the waves shortly before dawn.

Managers of the sailing vessel Bayesian, Camper & Nicholsons, confirmed to the ABC that the Bayesian encountered severe weather and subsequently sank. 

"Our priority is assisting with the ongoing search and providing all necessary support to the rescued passengers and crew," they said. 

"The wind was very strong. Bad weather was expected, but not of this magnitude," a coastguard official told Reuters.

Sicily's civil protection agency head, Salvo Cocina, said a waterspout — a tornado over the water — could have struck the yacht.

"They were in the wrong place at the wrong time," Mr Cocina added. 

Storms and heavy rainfall had swept down Italy in recent days after weeks of scorching heat, lifting the temperature of the Mediterranean Sea to record levels and raising the risk of extreme weather conditions, experts told Reuters.

"The sea surface temperature around Sicily was around 30 degrees Celsius, which is almost 3 degrees more than normal. This creates an enormous source of energy that contributes to these storms," meteorologist Luca Mercalli said.

Rescuers recover the body of one of the people aboard the Bayesian.  ( AP: Lucio Ganci )

Captain Karsten Borner of the Sir Robert Baden Powell vessel told journalists he noticed the Bayesian nearby during the storm, but after it calmed he saw a red flare and realised the ship had simply disappeared.

Mr Borner said he and a crew member boarded their tender and found a lifeboat with 15 people, some of them injured, who they then took aboard and alerted the coast guard.

Search crews, including helicopters and divers, are continuing to search the wreckage, lying at a depth of 49 metres.

Specialist divers reached the ship on Monday but access was limited due to objects in the way, the fire brigade said.

The UK Marine Accident Investigation Branch is deploying a team of four inspectors to Italy to conduct a preliminary assessment.

The Foreign Commonwealth and Development office said it was "providing consular support to a number of British nationals and their families".

Sicilian prosecutors have also opened an investigation into the event. 

Who is missing?

Lawyer Chris Morvillo (left), entrepreneur Mike Lynch, and Morgan Stanley chairman Jonathan Bloomer are among the missing. 

There were 12 passengers and 10 crew members aboard the yacht. 

Mr Cocina said the crew and passengers hailed from a variety of countries, including Britain, the United States, Antigua, France, Germany, Ireland, Myanmar, the Netherlands, New Zealand and Spain.

Of the 22, one man is confirmed dead and another six people are still missing. 

They are believed to be inside the hull, fire rescue spokesperson Luca Cari said.

Fabio Cefalù, a fisherman who said he responded to a flare from the vessel but found it sunk, said he stayed at the site for three hours without finding anyone.

"I think they are inside, all the missing people," he said.

Rescue teams recovered the body of the yacht's onboard chef on Monday, identified as Antiguan citizen Ricardo Thomas.

The still missing people include: 

• Mr Lynch's 18-year-old daughter, Hannah 
• Jonathan Bloomer, chairman of global financial services company Morgan Stanley International
• Chris Morvillo , a lawyer at the British multinational law firm Clifford Chance. He worked on Mr Lynch's lawsuit against Hewlett-Packard
• The identities of the remaining two missing are still unconfirmed

Who was rescued? 

Fifteen people escaped from the sinking ship. 

Eight have been hospitalised and others were taken to a nearby hotel.

Charlotte Golunski was among those rescued, recalling the harrowing moments she held her child Sofia above the waves.  ( Supplied: Facebook  )

Among those rescued were:

• Mr Lynch's wife, Angela Bacares, who was the owner of the yacht
• Charlotte Golunski and her one-year-old daughter, Sofia. Ms Golunski is a partner at Mr Lynch's firm, Invoke Capital. She says she momentarily lost hold of Sofia in the water but managed to hold her up above the waves until the lifeboat was inflated
• Ms Golunski's husband James Emslie
• New Zealand captain of the yacht James Catfield. He told Italian newspaper La Repubblica the crew didn't see the storm coming
• A lone Dutch citizen was identified by the Dutch foreign ministry as being rescued, but was not identified

Who is Mike Lynch?

Mr Lynch, once hailed as Britain’s king of technology, was recently freed from a Silicon Valley lawsuit that tarnished his legacy. 

The 59-year-old Cambridge-educated mathematician created Autonomy , a search engine that could pore through emails and other internal business documents to help companies find vital information more quickly. 

He received the OBE for his innovation in 2006. 

He then sold the software to Hewlett-Packard (HP) for $US11 billion ($16 billion) in 2011, with Mr Lynch personally netting $US800 million. 

HP valued Autonomy at $US46 billion ($68 billion) in the months leading up to the deal.

Mike Lynch in 2019 leaving the High Court in London.  ( Reuters: Henry Nicholls/File Photo )

But the deal quickly turned sour after he was accused of forging the software's financial records to make the sale.

As part of a decades-long legal battle against HP, Mr Lynch was extradited to the UK on criminal fraud charges. 

He steadfastly denied any wrongdoing, asserting that he was being made a scapegoat for HP's own bungling. 

He was eventually cleared of all charges in June this year. 

Although he avoided a possible prison sentence, Lynch still faced a bill from a civil case in London that HP mostly won during 2022. Damages haven't been determined in that case, but HP is seeking $US4 billion. 

Following the San Francisco trial, Mr Lynch said he would return to the UK and do what he loved most: "[being with] my family and innovating in my field."

The holiday appeared to be something of a celebration after Mr Lynch's acquittal, with guests including some of the people who had stood by Lynch throughout the ordeal.

This picture shows the rescue operations off the Sicilian coast.  ( AP: Italian Coast Guard  )

In a separate act of tragedy, Mr Lynch's co-defendant in the trial, Stephen Chamberlain, died on Monday, after a road accident left him critically injured.

Mr Chamberlain — Autonomy's former vice-president of finance alongside Mr Lynch — was hit by a car in Cambridgeshire on Saturday morning and had been placed on life support. 

What is the Bayesian?

The luxury yacht is 56m long sailboat, with a 75m mast labelled as the tallest aluminium mast in the world.

It was previously named Salute when it flew under a Dutch flag.

The yacht, built in 2008 by the Italian firm Perini Navi, can accommodate up to 12 guests in six suites and a crew of 10, according to online specialist yacht sites. It was last refitted in 2020.

Online charter sites listed it for rent for up to 195,000 euros (about $AU 321,000) a week. 

This picture taken on Sunday shows the Bayesian (left) and the Duch sailboat Sir Robert Baden Powell anchored off the coast line.   ( AP: Fabio La Bianca/Baia Santa Nicolicchia )

The ship also won a string of awards for its design. 

Ms Golunski said the yacht had travelled through the Aeolian Islands, Milazzo and Cefalù before sinking. 

It is likely the yacht's name would resonate with Mr Lynch because his PhD thesis and the software that made his fortune was based on Bayesian theory.

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At Bertram Yachts, we lead and support every area of our boating business. We ensure that our teams at our facility and in the field have what they need to provide excellent service to our partners and customers. Business & Support roles include Administrative, Finance, Human Resources, Information Technology, Sales, and Marketing

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Our production facility in Tampa, FL is where all the magic happens. Producing the highest quality boats requires a the coordinated effort of a skilled team of craftsman and management personnel

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Think of our Warehouse & Logistics team as the bridge between production and delivery. Through hard work, organization, and dedication, they receive products, process orders, prepare and prep products for shipping. Our warehouse is a team that requires excellent communication and attention to detail.

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Product development is where it all begins. The product development and engineering team designs, engineers, constructs tooling and prototypes all of Bertram’s new products. The team also supports the ongoing refinement and updates of products in production.

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Assembly technician, fiberglass finish technician, fiberglass lamination technician.

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Accounting Generalist

BUSINESS & ADMINISTRATION | TAMPA, FL

The Accounting Generalist has an integral part on the administrative team and is involved in many activities to support the organization. Responsibilities include assisting the Accounting Manager in managing the full cycle of accounting duties, implementing, and executing accounting policies and processes. The Accounting Generalist supports financial and regulatory reporting, tax compliance, tax return preparation, operational accounting activities and internal financial reporting. The Accounting Generalist has theoretical knowledge of bookkeeping and accounting systems, is organized and detail oriented. The Accounting Generalist is professional, credible, acts with integrity, demonstrates high moral and ethical characteristics, and maintains confidentiality..

• 401(k), with a company match
• Medical with HSA
• Disability Insurance
• Life Insurance
• Paid Time Off (PTO)
• Paid Holidays
• Employee Referral Program
• Mentorship/On-the-Job Training

Essential Functions

• Processing the accounts payable and the accounts receivable, collecting documentation when necessary to complete the task
• Reconciling all bank statements daily, maintaining the company bank balance, and remaining cognizant of outstanding checks
• Processing expense report disbursements
• Assisting the Accounting Manager in managing all accounting operations including A/R, A/P, GL transactions
• Assisting the Accounting Manager in managing month-end and year-end close process
• Implementing and monitoring the month, quarter and year-end closing schedules to meet deadlines
• Ensuring proper documentation and back up for every transaction
• Maintaining the accuracy of the general ledger, including fixed asset activity, debt activity
• Maintaining the chart of accounts
• Participating in continuous improvement by developing and maintaining business processes and systems (including software), and developing standards, practices, and procedures to achieve a sound financial practice
• Support tax compliance for various state, local and federal taxes including sales and use tax, property, payroll and income taxes (including but not limited to 1099 preparation, 1095 preparation, sales tax returns)
• Performs other duties as assigned

Job Qualifications

• Bachelor’s degree in Accounting required
• Minimum 1 year of relevant experience in Accounting
• Thorough theoretical knowledge of bookkeeping and accounting principles, practices, standards, laws and regulations
• Strong proficiency in Microsoft Office (Word, Excel, Outlook)
• Knowledge of accounting and bookkeeping software
• Understanding of general ledger functions and the month-end/year end close process
• Demonstrate problem solving and analytical skills
• Ability to manage, prioritize, and multi-task on multiple projects and priorities
• High attention to detail and accuracy
• Ability to work with deadlines and understand and respond to changing priorities
• Self-starter with a positive attitude, strong work ethic and ability to be part of a team culture
• Ability to maintain confidential information

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MANUFACTURING & OPERATIONS | TAMPA, FL

An Assembler Technician is responsible for assembling fiberglass parts and components including hulls, decks, small parts, sub-assemblies, and finished boats.  

Compensation:

• Pay rate starting at $16hr depending on experience
• 401(k), with company match
• Mentorship/On the Job Training

Primary Responsibilities

• Installs basic hull and deck hardware including drilling and sealing of components 
• Installs major mechanical systems components including tanks, generators, stabilizers, bow thrusters, water makers, etc. 
• Installs plumbing components, fittings and hoses for fuel, water, waste and other systems 
• May assist in installing electrical components and wire harnesses 
• Installs major subassemblies such as dash and hardtop modules, windshields, seating and upholstery 
• Assembles hull to deck 
• Installs or assists in installation of engines 
• Applies sealants and adhesives 
• Inspects and verifies work against quality standards 
• Maintaining production equipment in good working order 
• Other duties/responsibilities as assigned 
• Performs other duties as assigned   

Job Requirements

• High school diploma/GED Required 
• Preferred 1 year of marine/boat manufacturing experience  
• Ability to read blueprints, drawings and to accurately measure 
• Ability to use hand tools, electric tools, and pneumatic tools including drills, saws, and grinders 
• Understand and follow written and verbal work instructions 
• Ability to use ladders and stairs to access boats 
• Ability to work in an non-climate-controlled environment 
• Ability to work in dusty environment and follow PPE guidelines including use of eye protection, gloves and respirators as required 
• Ability to work within strict deadlines to meet shipment schedules 
• Ability to prioritize, handle multiple duties and projects at one time 
• Ability to work independently with minimal supervision 
• Ability to lift up to 50lbs 
• Ability to work Overtime, Weekends and Nights when required 

Bertram Yachts is an iconic marine brand that has been producing recreational boats and yachts for over 60 years. The company currently produces premium quality center console, dual console boats and inboard diesel-powered sportfish yachts from 28' to 65' in length. The company’s products are manufactured in Tampa, Florida and are sold through a high-quality worldwide dealer network. The company is rapidly expanding its production capabilities to support demand for new outboard product lines and is looking for dedicated, results-oriented electrical team members.

• Parts inspection and defect identification against a pre-established set of acceptance criteria, including tapping for air voids and conducting thorough visual inspections for any and all surface imperfections which might compromise the final aesthetic finish of the product.
• Surface preparation, fairing, and sanding using hand and pneumatic long-block and circular sanders.
• The selection and use of putties and various compounds to perform fiberglass repairs.
• White and color gel coat repairs of defects associated with resin exotherm, through-prints, orange peel, fisheyes, mold marks, stress cracks, porosity, inclusions, scratches, and others.
• Gel coat/paint spraying, re-spraying, patching, and blending.
• Surface compound application, buffing/polishing, and waxing
• Basic laminating skills
• General production support functions.
• Preferred 1 year of marine, manufacturing experience
• Ability to read blueprints, drawings etc. and to accurately measure
• Ability to use hand tools, electric tools, and pneumatic tools including drills, saws, and grinders
• Ability to understand and follow written and verbal work instructions
• Ability to lift up to 50 lbs
• Ability to use ladders and stairs to access boats
• Ability to work in an open air and covered non-climate-controlled environment
• Ability to work in dusty environment and follow PPE guidelines including use of eye protection, gloves and respirators as required
• Ability to work overtime when required
• Ability to work within strict deadlines to meet shipment schedules
• Ability to prioritize and handle multiple duties/projects at one time, work independently with minimal supervision, and resolve conflict in a professional manner
• Must pass a pre-employment drug screening and background check
• Staging, waxing and preparing molds for lamination
• Masking of molds for application of multi-color gelcoats or for protection of molds
• Spray and hand application of gelcoat to molds
• Using hand lay-up process to apply layers of fiberglass/resin and core materials to molds
• Inspection of parts for any defects between layers
• Preparation of fiberglass laminates between layers by sanding and removing defects
• Locating structural assemblies, cores and other materials through proper use of fixtures and measuring tools
• Production of closed mold/resin transfer molded parts (with advanced training)
• Production of vacuum infusion parts (with advanced training) including layup of dry materials, installation of resin feed and vacuum lines, vacuum bag installation and sealing, and resin infusion.
• Maintaining production equipment in good working order

Warehouse Supervisor

The Warehouse Supervisor works under the direction of the Materials Manager. The Warehouse Supervisor is responsible for managing the Warehouse Team Lead and associates. The Warehouse Supervisor will ensure all incoming and outgoing inventory is processed timely and according to schedule. Responsibilities also include preparing schedules for team members, training new employees on machinery, monitoring compliance and ensuring safety standards are followed. The manager and team must have availability to work nights, weekends and holidays as the workload dictates. 

Bonuses and Compensation:

The starting wage is dependent on relevant experience and skill level.

•  Entry level pay rate of $18.00 per hour with potential advancement to $20.00 during first two years of employment through regular quarterly wage increases based on skills development and general performance evaluation.  Wage increases above $20.00 per hour based on annual performance assessment. 
• Manage all receiving and put away of in-bound product to proper stock location
• Manage all picking and kitting of product as well as movement of material to production line
• Manage to ensure inventory transactions are recorded at time of product movement
• Manage stocking locations and product labeling
• Manage defective product and returns from production line
• Manage outbound delivery and fulfillment of customer service and warranty parts orders
• Manage the yearly inventory and audit process along with monthly cycle counts
• Monitor all KANBAN replenishment and consumables
• Ensure efficient warehouse operations through collaboration and coordination with other departments
• Research, identify, and present new ideas to improve warehouse operations
• Ensure compliance with applicable federal, state, local, and company safety policies
• Oversee the daily workflow of the warehouse; schedule and organize staff to ensure proper staffing
• Hire and train new warehouse employees
• Conduct performance evaluations
• High school diploma or equivalent required; Associate degree preferred
• Bilingual English/Spanish preferred
• Minimum five years manufacturing, warehouse and/or related experience required; two years supervisory experience strongly preferred
• Thorough understanding of warehouse policies and procedures
• Excellent verbal and written communication skills
• Excellent supervisory and interpersonal skills
• Proficient computer skills including use of MS Office (Outlook, Word, Excel) and other programs
• Ability to lift up to 50 pounds at a time

Bertram Yachts LLC provides equal employment opportunities (EEO) to all employees and applicants for employment without regard to race, color, religion, sex, national origin, age, disability, genetics or veteran status. In addition to federal law requirements, Bertram Yachts LLC complies with applicable state and local laws governing non-discrimination in employment in every location in which the company has facilities. This policy applies to all terms and conditions of employment, including recruiting, hiring, placement, promotion, termination, layoff, recall, transfer, leaves of absence, compensation, and training. Bertram Yachts LLC expressly prohibits any form of workplace harassment based on race, color, religion, gender, sexual orientation, gender identity or expression, national origin, age, genetic information, disability, or veteran status. Improper interference with the ability of Bertram Yachts LLC’s employees to perform their job duties may result in discipline up to and including discharge.

Director of Customer Service

Business & Support | Tampa, FL

The Director of Customer Service uses both technical and interpersonal skills to provide outstanding customer support to existing and prospective clients. The Director of Customer Service is responsible for overseeing the daily operations of the customer service department including management and coordination of all warranty support and administration processes, addressing any issues/disputes from customers, support of quality improvement initiatives through warranty data analysis and corrective action processes, and implementation of customer centric product delivery and orientation processes

Quality Assurance Manager

Manufacturing & Operations | Tampa, FL

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Marine Electrician

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As a growing business, new roles open up on a regular basis,  if you have a passion for building premium sportfish yachts and would like to be considered for future positions with Bertram Yachts, please submit your resume along with a letter describing your interest to [email protected]

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