Posted by Đavīd on January 23, 2009, 8:02 pm
I just stumbled across this article dated Jan. 21, 2009
http://www.motorcycle.com/news/harleydavidson-seeks-federal-bailout-87855.html
or http://tinyurl.com/bqh3n8 -Harley-Davidson is awaiting news in regards to
whether the Federal DepositInsurance Corporation will designate the company as
eligible for federalfunding under a bank bailout program.Sen. Bob Casey, D-Pa.,
wrote a letter January 16 to Federal DepositInsurance Corp. chairman Sheila
Blair, saying Harley-Davidson recentlyinquired whether its financing company and
subsidiaries, Harley-DavidsonCredit Corp. and Eaglemark Savings Bank, are
eligible for the TemporaryLiquidity Guarantee Program, or TLGP.Casey said he
supports Harley's request for eligibility and wants the FDICto make a decision
on the company's eligibility, ideally ahead of thecompany's fourth-quarter
earnings report due out Friday. "Without access toTLGP, Harley-Davidson may be
forced to make tough decisions that will impactworkers in Pennsylvania,
jeopardize the local economy, and negatively impactthe state economy," Casey
wrote in the letter.The TLGP guarantees unsecured corporate debt against
default, which wouldcover the bills of Harley-Davidson's internal financial
entities if theywere unable to pay bills themselves. H-D employs nearly 3,000
people at itsplant in York County, PA., and another 1,500 work at dealerships in
thestate.Against an industry wide slowdown, analysts expect Harley sales to be
down20 percent for the fourth quarter, and Raymond James analyst Joseph
D.Hovorka said in a client note that sales among 55 dealers surveyed were
"thesoftest reading ever for our survey." Sales are expected to slide another
20percent to 30 percent this year as consumers cut purchases of luxury
goods.Four analysts - Goldman Sachs, Standard & Poor's, RBC and Raymond James
-have downgraded Harley shares in as many weeks, and the company's formerHDFS
president, Sy Naqvi, left the company early this month. H-D's stockprice has
dropped from $80-plus per share in December 2006 to $13.70 thisweek. Davīd
Greenville, NC
Posted by =?iso-8859-1?B?0GF272Q=?= on January 23, 2009, 9:56 pm
Ģtruncatedģ
Dayum, I hate when that happens. For some crazy reason, sometimes my news
server jumbles up the text after a URL.
My settings were Unencode with wrap at 76 characters. Changed it to MIME
with wrap at 76 characters. I hope this is an improvement.
Drinks on me.
Davīd
Greenville, NC
Posted by =?iso-8859-1?B?0GF272Q=?= on January 23, 2009, 10:17 pm
I just stumbled across this article dated Jan. 21, 2009
-
Harley-Davidson is awaiting news in regards to whether the Federal
DepositInsurance Corporation will designate the company as eligible for
federalfunding under a bank bailout program.
Sen. Bob Casey, D-Pa., wrote a letter January 16 to Federal
DepositInsurance Corp. chairman Sheila Blair, saying Harley-Davidson
recentlyinquired whether its financing company and subsidiaries,
Harley-DavidsonCredit Corp. and Eaglemark Savings Bank, are eligible for the
TemporaryLiquidity Guarantee Program, or TLGP.
Casey said he supports Harley's request for eligibility and wants the
FDICto make a decision on the company's eligibility, ideally ahead of
thecompany's fourth-quarter earnings report due out Friday. "Without access
toTLGP, Harley-Davidson may be forced to make tough decisions that will
impactworkers in Pennsylvania, jeopardize the local economy, and negatively
impactthe state economy," Casey wrote in the letter.
The TLGP guarantees unsecured corporate debt against default, which
wouldcover the bills of Harley-Davidson's internal financial entities if
theywere unable to pay bills themselves. H-D employs nearly 3,000 people at
itsplant in York County, PA., and another 1,500 work at dealerships in
thestate.
Against an industry wide slowdown, analysts expect Harley sales to be
down20 percent for the fourth quarter, and Raymond James analyst Joseph
D.Hovorka said in a client note that sales among 55 dealers surveyed were
"thesoftest reading ever for our survey." Sales are expected to slide
another 20percent to 30 percent this year as consumers cut purchases of
luxury goods.
Four analysts - Goldman Sachs, Standard & Poor's, RBC and Raymond
James -have downgraded Harley shares in as many weeks, and the company's
formerHDFS president, Sy Naqvi, left the company early this month. H-D's
stockprice has dropped from $80-plus per share in December 2006 to $13.70
this week.
Davīd
Greenville, NC
http://www.motorcycle.com/news/harleydavidson-seeks-federal-bailout-87855.html
or http://tinyurl.com/bqh3n8
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