were divided into three groups – the Fishing Boat Group, the Recreational Boat Group, and the Aluminum Boat Group. Each group was responsible for all manufacturing and marketing efforts associated with its line of products. The Fishing Boat Group included Stratos, Hydra-Sports, Javelin and Quest by Four Winns. The Recreational Boat Group produced 80 models under the brand names Chris-Craft, Donzi, Four Winns, Seaswirl and Sunbird. The Aluminum Boat Group included Duranautic, Princecraft/Springbok, Suncruiser, Lowe, Sea Nymph, Grumman, and Roughneck. Many of these same brands are still in production today. End of an era As OMC continued to lose money, Harry Bowman, the former CEO of Whirlpool Corporation, was hired to replace Chapman. When the boat industry finally rebounded from its economic downturn in 1994, OMC did not have enough of the right kind of product for its customers since much of it had been sold by Chapman. Bowman immediately formed a joint venture with Volvo to consolidate two engines into one brand name, finalized a contract with a German firm to bring in new technology for high-pressure fuel injectors so that OMC engines could be more fuel-efficient, initiated a thoroughgoing advertising campaign to strengthen its brand name Evinrude and Johnson outboard engines, and began to develop a new generation of outboard motors that were environmentally acceptable, fuel-efficient, and easily repaired. Bowman's strategy worked. By the middle of 1995, OMC's revenues were $1.1 billion. The company faced net revenue losses of $7.3 million in the 2nd quarter of 1997 ending March 31 and would have been worse if $2 million in dividends were not suspended. The previous quarter loss was $14.3 million even after selling assets such as the corporate jet. In April 1997 OMC hired Salomon Brothers to explore future option such as a buyout or merger. In 1997 Detroit Diesel made a $16 a share bid for OMC. They were outbid at $18 a share by Alfred Kingsley who previously owned 2 million shares purchased at $17 a share and had no experience in the outboard industry. The deal was backed by George Soros. Carl Icahn, a corporate raider who bought TWA in 1988, is said to blame Kingsley his lieutenant during the 1980s for the ensuing TWA bankruptcy a few years later. David Jones, former Mercury Marine Division president until August 1997, was hired by Kingsley in September 1997 to become the President and CEO of OMC,