Intermarine Savannah May Face Closure

Savannah's Intermarine, a company that builds and repairs yachts, has plans to close its doors if it cannot find a buyer. The deadline to sell is November 30, and more than 130 people might be out of their jobs.

Bernie Ebbers, former head of WorldCom, also owns Intermarine Savannah. It appears his money problems may have a direct impact on our community. Thursday the company's president and CEO, Thomas Conboy, was terminated. One day later employees, received a memo, stating that if the company, which has been up for sale, is not bought, it will be closed November 30.

"We're just hoping that between now and end of November, we hope that something happens for us, new people come in here to take over and our jobs will be secure," said Trelllis Dorman, an Intermarine employee.

Calvin Hancock, the company's interim CEO, would not go on camera, but did say the company has been negotiating the sale of the plant to a third party. Still he says the sale is not certain.

And employee Manny Tillman told us, "We're not discouraged, we're trying to keep our heads up, we feel like something good is going to happen in next couple of weeks, so we're trying to be real positive about it."

"It's a good shipyard, a solid shipyard, it just so happens the guy that owns the company is in a bind right now," said Dorman.

Bernie Ebbers, the same man who led WorldCom into one of the biggest bankruptcies in US history, has been selling a number of his assets, and Intermarine Savannah is one of them.

Employees who will be directly affected are having mixed emotions.

"He got stuck in something, I guess it was a greed thing, you can look at it like that," said Dorman.

"It's just a business deal that went bad, I don't blame that on him," said Tillman.

We did ask Hancock if a severance package would be available to employees, he told us there was none, but he did say they were working as hard as possible with their 401 K plans.

Reported by: Elizabeth Trevino