Victor B Porter 1931 - 2021

Victor B. Porter, Chairman Emeritus of Formula Boats/Thunderbird Products, Decatur, Indiana, passed away Sunday, October 24, 2021. He was born February 3, 1931, and on June 1, 1950, he married Kristine Striker, his bride of 71 years. Vic Porter spent over sixty years in the boating industry. From small-town beginnings to larger-than-life reality, Vic’s story is truly the American dream.  Vic Porter’s early career ventures included mobile homes sales, real estate, and his own business, Vic’s Frozen Food Center and Center Ice Cream. An entrepreneur at heart, Vic felt the urge to start down a new path, and in 1958, that decision led him to his place in the marine industry today. Interesting developments followed each move Vic made throughout the past 60-plus years.  In 1958, Vic started a boat company, Duo, Inc., to manufacture fiberglass boats in his converted ice cream plant with three employees. His first model, the Volare, was a catamaran equipped with two outboard motors. In 1959, the hundredth boat was built, and the Hepcat, a trimaran, was introduced. Vic was president, and also doubled as sales manager. The following three years, Vic developed the Catfish and monohull runabout design X-Series and F-Series boats. By 1962, Duo Inc. was booming. Vic now had 30 employees who built 20 boats per week. Business continued to expand in a new 18,000-square-foot facility with plans to double capacity. In 1962, Vic developed a V-hull boat series for a better ride. 1964 marked Vic’s first million-dollar year, and in 1965 the plant grew to 100,000 square feet and employed 185 people. 1966 was a whirlwind year and Vic travelled nonstop for a month, visiting 21 cities and numerous dealers to promote and sell his product. Duo, Inc. caught the eye of Starcraft Corporation, a larger, regional boat company, and in 1966 Vic sold Duo, remaining for a time as president. Vic’s entrepreneurial urge surfaced again, and he decided to captain a new ship in 1970.  Signa Corporation was the next step in Vic’s developing career. Manufacturing tri-hull boats in a 20,000-square-foot facility with 50 employees, it wasn’t long before Vic’s second successful boat company attracted the attention of investors. In 1973, Fuqua Industries purchased Signa Corporation. Fuqua had previously purchased Thunderbird Products and Formula Boats in 1969. Vic was named chairman of the small boat group, with $3 million in sales reported that year. Fuqua Industries manufactured the three small boat lines, including both Signa tri-hulls and Formula deep-V hull boats, through 1975.  Once again, Vic felt the need to head up a company all his own, and took advantage of the opportunity created by an energy crisis. In 1976, Vic purchased the small boat group from Fuqua Industries. Vic continued the company as Thunderbird Products, manufacturing the Signa and Formula boat lines. In 1979, Signa tri-hull production was ended, as market advancement indicated heavy preference for the deep-V hull Formula boats. The same year marked Thunderbird Products’ introduction of the Formula 302, a special edition offshore performance boat. In every direction, Vic led the company, creativity prevailed and successful innovation followed.  Vic made it a point during his boating career to be involved in the best interests of the industry. He was active in the BIA when it merged with the NAEBM to become the NMMA (National Marine Manufacturers Association) in 1979. During his years at Signa and at Thunderbird/Formula, Vic served both the BIA and the NMMA in various board positions.  In 1980, integrated, continuous cockpit liners improved both structure and design flow. 1982 marked Formula’s first use of Imron® hull graphics. In 1984, as an industry first, Thunderbird Products innovated and installed curved, tempered glass windshields. Also that year, the Silent Thunder exhaust system was introduced. In 1988, a brand-new, state-of-the-art facility was completed — 345,000 square feet to manufacture the highest quality powerboats possible with a dedicated workforce of 600 employees. From facility additions to the development of new boat lines – Sun Sports in 1994, FAS³Techs in 1997, Super Sports in 1999, Yachts in 2002, Crossovers in 2012, and the Flagship of the Formula lineup, the 500 Super Sport Crossover in 2021 Vic led the company with imagination and integrity into a model business manufacturing today’s prestigious Formula Boats. Vic was often seen in the manufacturing area and in the office. Vic’s entrepreneurial spirit took him, his family and his business to places he only imagined.  Vic remained happily married to his wife of 71 years, Kristine. Together they have six children, five of whom are actively involved in the Formula Boats business. Vic and Kris have 17 grandchildren, and over the years have seen interest in the company flow into the third generation; six grandchildren full time and a fourth generation employed as summer help. Vic and Kris have also been blessed with 19 great-grandchildren.  Vic appreciated the support of his community, family and employees throughout his life, and responded with personal involvement. Over the years he served with a number of organizations in various capacities such as the local Chamber of Commerce, including serving as president, in many areas with his church, area Boy Scouts, and helping spearhead the development and funding of Decatur’s Industrial Park. Vic was Adams County’s Republican Party chairman from 1973-1975, and was on the board of directors of the county hospital. In earlier years he was a volunteer fireman and helped coordinate a high school drug awareness program. He also served on the board of directors of Indiana Central College, the Cole Foundation Board and on various committees of the National Marine Manufacturers Association. The Porter Family Foundation provides philanthropic funding to local schools, churches and charities and provided the seed money for the formation of Woodcrest, a local not-for-profit retirement community. The Foundation donated the land for the new hospital in Decatur, as well as aiding substantially in funding an oncology center. He and Kristine also established an ongoing fund through the Adams County Community Foundation to benefit community projects. Over the years, Vic Porter’s service and entrepreneurial spirit gained recognition. In 1964, Vic received the Outstanding Young Businessman Award from the Decatur Chamber of Commerce, and in 1990, Vic was a finalist for the Indiana Entrepreneur of the Year Award and was that year’s recipient of the Spirit of Entrepreneurship Award, recognizing his outstanding involvement and contributions in his community and state. In 1994, the board of directors of Woodcrest chose the Porter name for the auditorium there, and in 1997, Vic was awarded the Stephen Decatur Community Service Award. In 2000, Thunderbird earned the Large Business of the Year Award. In 2012, Vic was inducted into Junior Achievement's Greater Fort Wayne Business Hall of Fame.  2016 marked the celebration of Indiana's 200th birthday. Vic was honored for his community involvement and contributions and was asked to participate in the monumental event. He was chosen to be a torchbearer for the Indiana Bicentenial Torch Relay, was held from September 9 through October 15. 2,200 torchbearers represented all 92 Indiana counties. Vic carried the torch by boat for 1/3 mile through Decatur.  October 16, 2016 marked Vic's induction to the NMMA Hall of Fame. The National Marine Manufacturers Association Hall of Fame was established in 1988 to recognize and honor individuals who have made or continue to make substantial contributions towards the advancement of the marine Industry. One has to be nominated and meet criteria that take many decades of dedication, effort and passion for the industry. Vic had clearly demonstrated a lifetime love for boating and striving to advance the industry.  As gratifying as all this is, his greatest satisfaction surely was that his family is carrying on in full accord with his example of living and giving, as well as continuing the business with the same values and goals he established.   His goal was to build a viable, Decatur-based, boat manufacturing company, and from the looks of it, mission accomplished. From small-town beginnings to the personally fulfilling present, Vic spent his time well, as proven by his business success and family following.