Palmer Johnson shows signs of vitality Palmer Johnson craftsmen such as Jay Sekadlo are breathing a little easier now that more work is coming to the company as it emerges from the shadow of bankruptcy (photo by Paige Funkhouser). Company needs to hire 15-20 carpenters By Heather Freckmann For The News-Chronicle A reassuring sign of spring in Sturgeon Bay returned this month with a newly launched Palmer Johnson yacht gliding beneath the Michigan Street Bridge on its way to sea trials on Green Bay. After Palmer Johnson Yachts slid into bankruptcy nearly two years ago, the sight of Four Wishes stretching its legs might have been melancholy rather than triumphant. Now, with the 86-year-old custom boatbuilder under new ownership, a bold new future is taking shape - and it is taking shape, literally, on the floor of the nearby assembly building. "We're at such a pace right now, we can't keep up with ourselves," said PJ president Mike Kelsey Jr., gazing across the shop floor. "We've got to get these boats done." Kelsey referred to the last two yachts contracted under the previous ownership. One of the boats was Four Wishes, the other is Regency, a 140-foot trideck for Texas businessman Don Davis, scheduled for launch during the first week of May. Regency is the last of the prebankruptcy yachts. Next to Regency in the PJ production building on First Avenue between Kentucky and Jefferson streets, three sleek semicustom vessels are coming to life. No less luxurious than the bigger tri-decks, the new sport yachts are sleek 120-foot, double-deck, express-style cruisers designed by the renowned Italian firm Nuvolari & Lenard. They are sister ships to Cover Drive, built for new PJ owner Timur Mohamed. Cover Drive, completed about the time financial problems sent PJ into bankruptcy, is the style of cruiser now experiencing a wave of popularity among European customers. In fact, at press time, Cover Drive was traveling across the Atlantic by freighter, bound for a Mediterranean tour and a special showcase appearance at the Formula One Grand Prix. "There is no other U.S. company building a boat like this at this size," Kelsey said. "We're even marketing in Russia for the first time in PJ history." The first of the three 120s has been sold to a well-known European yachtsman, Kelsey said. Construction of the second and third officially began last Thursday, April 22, when workers laid the keels. According to Kelsey, materials have already been ordered for a fourth yacht in the same style, which will be built in the space where Regency is now being completed once she's launched. PJ is also bidding on a more megayachts, similar to the 144-foot Four Wishes, on which the company built its reputation in the last generation. As construction moves forward, however, PJ needs more people. Currently employing approximately 140 workers, the company needs to hire more carpenters as quickly as it can. "We've hired back most of our carpenters from Burger Boats," Kelsey said, "but we need to hire 15 to 20 carpenters immediately." Burger, the Manitowoc yacht maker, make a strong pitch to hire PJ workers during the bankruptcy maneuvering. Now, a wage increase program is in place at PJ so all employees are under review for a raise at the end of May, Kelsey said. In addition, PJ has been able to bring back benefits such as the 401(k) program and YMCA memberships that were lost in cost cutting after the bankruptcy was filed. The company was investigating opportunities for expansion, to add capacity and for more economical launching, Kelsey said.