Harley Way Down
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yep, we've been discussing HD's woes all day.
http://gl1800riders.com/forums/showthread.php?t=201988
http://gl1800riders.com/forums/showthread.php?t=201988
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1,135 Posts
Sorry, Just saw it on national network news. everyone seems shocked that an American Icon is in such bad shape. Had not read the other posts.
You usually don't see motorcycle manufacturers in the news. I think they have SO OVER sold these things that there are no more buyers of New ones. Plenty of great used ones out there for much less than new $$.
You usually don't see motorcycle manufacturers in the news. I think they have SO OVER sold these things that there are no more buyers of New ones. Plenty of great used ones out there for much less than new $$.
Sales are down and they are laying off workers, but it's hard to believe that the company itself is bad off...how can they be with all the record profits they have made over the last 15 years or so... they had to have put some of those hundreds of millions in profits over the years away for a rainy day.
I'm dating a Harley rider, so don't intend to bash Harley. I just have one question, and I'd have this same question if it was Honda or Yamaha or anybody else.
Harley's 4th qtr. profits fell to $77 Million (take that times 4 to get their yearly profit). Why in the world do they need to be included in a bail out?
Harley's 4th qtr. profits fell to $77 Million (take that times 4 to get their yearly profit). Why in the world do they need to be included in a bail out?
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4,825 Posts
To save jobs??? Who knows... I was pretty resposable, paid all my taxes and chose to rent rather than buying a house an overpriced in artificially inflated market, where's my bailout?? :shrug:
I don't expect government to do anything FOR me, but I wish they'd stop doing things TO me...
I'd think that 4th qtr. sales would be the worst for the year in the motorcycle industry. If $77M is the lowest net profit they'll see in any given quarter, I don't see why anyone needs to lose their job. Seriously, who needs to make more than $77M in profit in a single quarter? And, keep in mind, this is after the salaries/bonuses paid to all the top dogs and all of the other employee salaries and all other expenses . . . this is their profit.
I really wish someone would help me understand the whole bail out thing and explain why it's being done for these huge multi-million dollar companies.
I really wish someone would help me understand the whole bail out thing and explain why it's being done for these huge multi-million dollar companies.
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787 Posts
Because these big multi-million dollar companies keep the World turning in the same direction. And when a company makes a profit, they have to pay taxes on that profit :wrong:. So with a new prez in the oval office, do you think the profit tax is going to be the same?
opcorn:
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822 Posts
I don't expect government to do anything FOR me, but I wish they'd stop doing things TO me... I own my own co. Business is down Profits are down
but think I will get any help no!!! the little guy just have to make it on there own .wish me luck and say a prayer .that is all we can do !!!!!Blade
but think I will get any help no!!! the little guy just have to make it on there own .wish me luck and say a prayer .that is all we can do !!!!!Blade
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+1 :agree: I am in the same boat as you are, I own my business and our sales are the lowest I have seen for over 40 years :wrong: :coffee1:
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They're hopping on the bailout bandwagon just like nearly everyone else looking for a taxpayer handout.
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Making the rounds of the Tampa Bay motorcycle shops shows, motorcycle sales are down everywhere. All brands.
If this continues, more lay-offs will be coming with all manufactures. :-(
If this continues, more lay-offs will be coming with all manufactures. :-(
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I hear this claim frequently, but it's not true. According to the HD annual report, less than 6% of net revenue was generated from merchandise sales.
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its a sad sign of the times... folks losing their job... i think you will see
large scale layoffs through out our nation in all levels... just read the papers or watch TV... our national, state & municipal government are all having short falls in their budgets... thousands of companys are in dire
financial trouble... not only small ones but mega retail giants are going belly up...
IMHO 2009 will be a rough year... in fact the next 3 years will be difficult for lots of folks... i don't plan to buy anything new until I see the economy recovering...
cosmic
large scale layoffs through out our nation in all levels... just read the papers or watch TV... our national, state & municipal government are all having short falls in their budgets... thousands of companys are in dire
financial trouble... not only small ones but mega retail giants are going belly up...
IMHO 2009 will be a rough year... in fact the next 3 years will be difficult for lots of folks... i don't plan to buy anything new until I see the economy recovering...
cosmic
$77M for a quarter equates to over $280M for the year in PROFIT, after their hefty salaries, bonuses, cars, jets, & other perks. Large or small, that's a lot of money. Maybe some of these big corporations need to stop being quite so greedy. It's the small companies that I think the government needs to be helping.
Pearl.. sorry, its just not that much. Lets look at it from another angle, after 9/11 Boeing laid off about 35,000 employees dang near over night. Everyone screamed that with all their surplus cash and the money they were making per quarter that there should be no lay off and there were no concerns. Now lets take those 35,000 employees at a rough burden rate of 100 per hour avg. Ok take 35,000 at 100.00 per hour burden times a 40 hour work week and tell me how long a corp could survive paying for people that have nothing to produce? Now HD isnt that big but the scenerio is. Also lets not forget R&D has to come out of this as well. Now with decreased sales they better be looking ahead knowing its a gloomy picture and know their not exempt. 280 million simply isnt as much cushion as is perceived.
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