Like a lot of you, I'm shocked that Genmar has filed for Chapter 11. But when I think about it, maybe I'm more shocked that I'm actually shocked. With all the trouble in the auto markets right now, it just seems logical that a major boat manufacturer would follow close behind.

Trouble is, it's not just a major boat manufacturer – it's Genmar, parent company of Ranger. And Ranger, as we know, pretty much started it all in bass fishing, and is the sole reason for the existence of FLW Outdoors in its modern form.

The bad news keeps coming these days. There are bright spots on the tackle side. Go to any lake, river or stream right now and you'll see as many, or more people fishing than last year. They're buying right-priced hooks and crankbaits and plastics.

Sure there's hurt in the tackle business, but it largely centers on the mass-retailing business at stores like Walmart (a retail outlet that significantly scaled back its fishing inventory to a shadow of what it once was).



Fishing media's in dire straights, largely due to the disappearance of boat/motor and Detroit advertising dollars. Seems I get a new call each week from a good friend who was laid off from fishing media and is looking for work.

But the Genmar bankruptcy strikes the nerve center of bass fishing like nothing else. Although we don't, at this point, know the ins and outs of how the court will proceed, we can venture a guess that the heavy Ranger contingency monies might be in jeopardy. It's hard to imagine the court allowing mega Ranger bonuses when the builder's in bankruptcy protection.

But who knows, maybe those bonuses are somehow structured outside the Ranger business proper, and thus not subject to the court's oversight.

And remember that FLW Outdoors was not part of the filing. The FLW Tour seems healthy, with heavy underwriting from Walmart, Proctor & Gamble, The National Guard, BP and so many others. The FLW Series is drawing strong numbers in the East, even if it's not in the West. The Strens and BFLs are healthy too, as is College Fishing.

Still, the Genmar bankruptcy is clearly a seminal moment in the sport. I think it marks the end of a bubble we all enjoyed, where BassFans with a 680 credit score and little money down could get a 10-plus-year boat loan. A time when we could use inflated home equity to finance a boat downpayment. A time when credit was cheap and easy and gas was affordable.

It's a different world right now, and I think it's time for the leagues to recognize that.

The smartest play right now for both BASS and FLW Outdoors would be to cap the horsepower limit somewhere in the mid-100s. Maybe 175's the right number, but I lean toward 150. The modern era of tournament bass fishing was built with 18-foot boats and 100- to 150-horsepower powerplants. And when you move back down by 3 to 4 feet and 100 horsepower, bass boating gets affordable again for a lot of folks.

Several tour pros I spoke with today said they'd have no problem with such a move. Heck, they think it's a great idea. You can still run 50 to 60 mph, you save a ton of money (including interest and gas cost), you can tow with a V6, folks with 100 horses can compete, aluminum comes back into play, and although the pros didn't say it, slower speeds create a safer boating experience.

Then again, most tour pros aren't $10,000 upside-down in a big rig. A horsepower cap would devastate the resale market for 20-plus-foot boats. But to tell the truth, there's a glut of used inventory on the market already and prices are adjusting through market forces.

The auto industry's correcting itself. The boat business is correcting itself. Fishing media's correcting itself. It's time the leagues correct themselves, or soon they'll be left with no choice.

A new BassFan Poll asks readers whether the leagues should reduce horsepower limits. To participate in the poll, and view the results, visit the homepage, then scroll down the right-hand side to find the poll.