This was just the beginning of OMC's problems, however. In 1988, the boat market peaked and then went into a tailspin. Although Chapman decided to purchase 15 boatmakers to assure OMC of captive customers for their outboard engines, the company did not develop a comprehensive or well-designed strategy to manage its growing operations efficiently. In the middle of the worst downturn in the industry's history, Chapman reduced staff, closed factories, and eliminated whole product lines, such as Chris-Craft engines and boat models—all to no avail. Between 1990 and 1993, OMC suffered losses totaling $440 million.