Well, remember Nordhavn doesn't build just for the US market and they can build in China and deliver to Europe cheaper than one could from the US. I also think at that time they were comparing to inefficient US builders. And, they were not looking to invest in the plant but have someone else do that. I can get a boat built in China with the money of others building the factory. In the US I would have to build it myself. A US facility must be very efficient to compete, very modern. Think of someone like Boeing. Now translate all those production methods to boats. The typical boat builder over history hasn't been that efficient. Now if you're going to be inefficient with your labor in particular then paying less to employees makes a huge difference. Shipping/freight is always a balancing factor and that is shipping of both raw materials and finished product. Another point is that boat manufacturing is not labor intensive. It's not like apparel where the labor is the great majority of the cost and the materials a minimal part. Note that when you look at the boat market as a whole, a small percentage of the manufacturing is done in the Far East. Look at small boats and the vast majority of those are built in the local areas. Pick a 19' Sea Ray. You could never justify building it anywhere but fairly locally where you can truck it to the buyer. But then when it comes to larger boats. Who are the largest yacht builders? Depending on how you define large, they're in the Netherlands, the UK, Italy and the US. Netherlands and Germany for Mega Yachts but then beyond that your largest builders are Azimut-Benetti, Ferretti, Sanlorenzo, Sunseeker, and Westport. Last I looked neither the Netherlands, Italy, or the UK had cheap labor. Now, make a note that two of those five are owned by Chinese companies. That's the greatest available Capital market today. Others and I did a study of the possibility of moving a Far East boat builder to the US a couple of years ago. This was a company that sells the vast majority of their boats in the US. It's also one with a very inefficient operation where it is. With that scenario we could have reduced the costs delivered to the US customer and we would have concentrated on the US market. Now it would have required a very sizable expenditure to build the right facility and to acquire the company. Lead times could have been reduced very significantly and we think sales increased dramatically. As it turns out, while some of the owners wanted desperately to sell, the majority refused.