| Author | Message | ||
     Hughlysses |
Yea, good luck with that. "Harley-Davidson, Inc. selects investment banking firm to assist in sale of MV Agusta MILWAUKEE (November 19, 2009) - Harley-Davidson, Inc. (NYSE: HOG) has selected the investment banking firm, BNP Paribas in Milan, to assist Harley-Davidson in the sale of MV Agusta. Harley-Davidson is currently identifying potential buyers for the Italian-based motorcycle company. “MV Agusta is a highly desirable company for the right buyer,” said Harley-Davidson Senior Vice President and Chief Financial Officer John Olin. “MV Agusta has a proud heritage and strong brand, high-quality exciting and beautiful products, and passionate enthusiasm on the part of its customers, employees and dealers, and we are confident in our expectation that we will identify an appropriate buyer.” Harley-Davidson announced its plans to divest MV Agusta in October, as part of its go-forward business strategy to focus its effort and investment on leveraging the unique strengths of the Harley-Davidson brand to reach new customers, strengthen relationships with existing customers, and grow the Harley-Davidson brand worldwide. While Harley-Davidson intends to sell MV Agusta, MV Agusta has continued to move forward on the road to revitalization. Under Harley-Davidson’s ownership, MV Agusta has restored production operations and continues to invest substantially in product development, as evidenced by the recent unveiling of the all new Brutale® and F4® models, which generated a highly enthusiastic response among customers and key trade media at the Milan show. MV Agusta is also returning to a position of prominence in the premium performance sport motorcycle category. Harley-Davidson, Inc. is the parent company for the group of companies doing business as Harley-Davidson Motor Company (HDMC), Harley-Davidson Financial Services (HDFS), Buell Motorcycle Company (Buell), and MV Agusta." | ||
| 4cammer |
Hope they get $1.00..... Yep, still bitter. | ||
| Badlionsfan |
Zero Point ZERO | ||
| Mndwgz |
The new buyer should ask the moco to throw Buell onto the deal. | ||
| Davegess |
Heck, they may have to toss in Buell to get someone to take MV for nothing. They are neat bikes but I rather doubt that anyone can make a profit running this company. Maybe the tiny bikes Cagiva makes would be worth something but I just don't see MV ever being profitable. I think they have lost tons of money every year since the relaunch by Cagiva. | ||
| Court |
It should have read . . . "Chief Financial Officer John Olin who has never been on or around a motorcycle in his life and recently joined Harley-Davidson after a career in the cheese spread business". This guy has zero cred in the industry . . . who the hell let him make that statement? Major misstep on behave of the PR team. On the other hand . . . if the suitors come a racing to acquire this massive money drain . . . the one that last sold for 1 Euro . . I'll be happy to eat my words. On the other hand . . . if some jets, villas and booze enter in perhaps the next owner will be plied with the same tactics that snagged HD. | ||
| Ft_bstrd |
Somehow I am having a hard time not wishing a raging case of Ebola on these people. | ||
| Rocketman |
So how would a construction worker as opposed to a cheese maker have written it any better? I don't understand what your motives could be in misleading those wishing to protest Buells closure to HD by placing little to no value upon MV, but to those who do know the shit your spouting you're making yourself look pretty stupid considering HD bought and own MV. If John Olin is following you here, you're credibility with your save Buell quest went out the window right here. THE FACTS Malaysia's Proton Sells Augusta Stake For EUR1 Tuesday December 27, 2005, 3:08 pm UPDATE: Malaysia's Proton Sells Augusta Stake For EUR1 KUALA LUMPUR (Dow Jones)--Proton Holdings Bhd. said Tuesday an Italian financial holding company has bought its entire stake in motorcycle maker MV Augusta SPA for a nominal EUR1. The move will allow Malaysia's loss-making state-owned automaker to reduce its liabilities and refocus on its core activity of making cars after a yearlong investment in the Italian specialty motorcycle maker. Proton sold its 57.8% stake in Augusta to Gevi SPA, which will assume Augusta's EUR106.9-million debt and EUR32.5-million working capital requirements, the Malaysian company said in a statement. The sale was "consistent with Proton's direction of divesting non-core assets," the automaker said. Proton rescued Augusta in 2004 by injecting EUR70 million into the maker of Cagiva, Agusta and Husqvarna brands of high-end motorcycles - a move that surprised many analysts. The divestment will allow Proton to focus on making cars and returning to profit after losing MYR154.3 million ($40.8 million), partially because of MYR90 million in provisions for Augusta, in the quarter ended Sept. 30. "This is a good move as it allows Proton to clean up its books," said an analyst at a Kuala Lumpur-based European bank who declined to be named. Proton said the sale "is not expected to have any effect on earnings," echoing Chairman Azlan Hashim's remarks in November that no further provisions are likely. Ahead of the market opening Tuesday, Proton suspended trade in its shares, which last traded at MYR6.15 and have sunk nearly 32% this year. Proton sold its 57.8% stake in Augusta to Gevi SPA, which will assume Augusta's EUR106.9-million debt and EUR32.5-million working capital requirements + 1 euro Givi purchase of MV = EUR 139,400,001 Rocket | ||
| Boltrider |
There's that word again. Getting back to the core, refocus on its core....just a stupid Wall Street buzz word. | ||
| Jon |
Why could not HD have done the same thing for Buell? Why not sell, rather than kill? Long live my X1. | ||
| Oldog |
Typical blather, simple fact HD is trying to get help selling MV because they cant, FACT the individuals who were purportedly the master minds of that deal are no longer at the "FAG-Ship",( Must have been a bad idea?) the rest is "lipstick on the pig" The MV bikes are nice pieces of Kit, from what I have seen, and I actualy saw a Duc not to long ago ( about got wood over that ) Rocket are Augustas as common in the EU as Buells are here, ( total Buell production 139,000 or there abouts ) I have never seen one, I only hear the stories mostly bad. I would not want to pay the kind of money that Agusta charges (here) and have to fix it each time I rode it, might be why I dont own an Agusta or a Duc Courts comments kinda echo my feelings here, the folks in charge know little about motor cycles and alot about business, With no facts to back this up I believe that IF Buell were still in business, and the plant were idled as the sportster plant is said to be, That when the Barracuda were released the Faithfull and the Benchraicing cephlopods / and spec sheet champs would likely be lined up, assuming BAD dealers did not run them off. the rest of the announcement is blather so who cares? BFFB - Free Erik! | ||
| Rick_a |
Interesting perspective, Rocket. You must have your glasses on...  | ||
| 46champ |
The only way H-D will get any real money for MV is if they throw Buell in on the deal. Then we could spin off buell to a stand alone company. | ||
| Rocketman |
MV's are popular prestige motorcycles in Europe. Popular in the sense they don't sell anywhere near the numbers the Japanese or even Ducati do. But that's what makes them also desirable. As for reputation, I've read and commented countless times on BadWeB regarding the supposed woes of Ducati reliability, ownership costs and maintenance issues, which are just utter rubbish. And yes some Ducati's are troublesome. But then I could take you downtown here to the big multi franchise dealer and introduce you to Mike who's wrenched there for 17 years. And he could tell you plenty of horror stories about Japanese bikes. He has one there now, a 3 year old R1 with an absolutely toasted engine at 20000 miles. The cost of repair has sent the owner in search of a used engine, so he bought an 04 R1 engine for a thousand pounds only to find when fitted there's no room to get the inlet manifolding on. Thousand pound so far, wasted. The point is, you'd expect an R1 engine to be economically rebuild-able at such an age and mileage. Have I heard horror stories about MV's? Well if I'm honest no. In fact I've heard the odd few about Ducati, mainly electronics issues or parts unavailability which has the bike sat idle for weeks even months. But then Ducati as I say are more popular than MV so you may have to dig deeper to find MV horror stories. And I do know people who own MV's and they are stunned by how fabulous their ownership of the bike is. Put it this way. I've yet to come across an MV owner that wasn't happy with it. Not saying they don't exists, but like most things at the expensive end of the market, and especially true if something looks fabulous. Some people arrive there all misty eyed, but the experience is not for them. Maybe the higher than Japanese service and maintenance costs are off putting. Maybe they did get held up waiting for a part when they wouldn't have done so with say a Japanese bike. And maybe they just didn't like the motorcycle for whatever reason. Then there are those that buy them and hardly ever ride them, and some of these people harbour mysterious thoughts about their reliability, mainly based on rumour and here say. So rather than ride them with any vigour and for any real mileage, they tell people who look in admiration and wanting, that the ownership experience is shall we say fragile for want of a better word. What they are actually doing though is showing off their wealth subliminally and letting us know that they are brave with their money because they like to be known as a risk taker when buying their silly toys. Silly because they bought the thing for the wrong reason as motorcycles go. It takes all sorts. Court speaks of his friends who own MV's, but they've never put any mileage on them. One preferring his Busa. Could be a perfect example of motorcycle purchase bravery just because they could afford one - and the bull shit they promote to make themselves appear motorcycle cool but all in the good cause of back slapping and laughter between like minded friends who think themselves motorcycle important. If anyone owns an MV you'd think they'd take time to get to know the brilliance of what they own. But sadly sometimes it's their wealth and head size they wish to promote and they keep the MV tucked up in bed clean and pristine so as when they sell they know there's a chance it will have been a fairly good investment as motorcycles go. In truth they daren't ride it though. One it's beyond their ability to get the best out of it, and two, riding it will decrease the investment potential, and three, the myth needs to be created that they're objects of desire which we should only ride once in a while and not very far and not very hard. Overall the facts are MV do build the world premier production class motorcycles and they do a bloody good job of it if people care to look at the bigger picture. And they are built to be ridden, and ridden to their full potential. So I don't see how MV bashing, especially the company and not so much the bike, is going to help the Buell cause here. What I do see is the ignorance of MV's financial history, and perhaps to some degree the dismissal of their ability to design and build a high end motorcycle and some with innovative design that we've overlooked here, is not going to do the Buell cause any favours. But worse would be likely if John what's his face and his bunch of merry cohorts look upon the Buell saviour brigade as misinformed motorcycling bigots who for all their worth wish to make HD look foolish in their dealings with MV. Before the world turned, and who'd have known, HD's purchase of MV could have been a very fortuitous one for all concerned. I don't buy this those that were responsible have all been booted out bull twaddle. No one goes into a much publicised $100M deal with their heads up their arse. Not even non motorcycling financial directors of Forbes 500 motorcycle corporations. Rocket | ||
| Rfischer |
Rocket's back on his abrasive Euro-centic ranting podium. Complete with obligatory personal attack. Wonder how long Blake will let him spout this time.... | ||
| Buellinachinashop |
"Somehow I am having a hard time not wishing a raging case of Ebola on these people." Cote d'Ivoire ebolavirus (CIEBOV), Reston ebolavirus (REBOV), Sudan ebolavirus (SEBOV) or Zaire virus (ZEBOV)? I'd choose Zaire myself. | ||
| 4cammer |
"Before the world turned, and who'd have known, HD's purchase of MV could have been a very fortuitous one for all concerned." I have yet to talk to anyone that is into bikes or read in any of the rags that this was a logical move for anyone but cash low MV. HD running MV.....who could have predicted the obvious? | ||
| Babired |
after HD rids itself of the MV Aguasta I might consider to buy one  sometime in the future | ||
| Gentleman_jon |
This just in from Sag Harbor. Might be a better idea to get rid of Rocket, and keep the Harley thread. More informative, and rather more civil. Am I right?  | ||
| Buellinachinashop |
I have a question. How is MV being handled until the sale? They had a product launch, but are they actually producing bikes for dealers or are they being made to order only? I understand they only build about 4-6 bikes a day, but that's 20-30 bikes a week..yadda yadda. | ||
| Brumbear |
I actually like mv and ducati. I just happen to LOVE buell's. The thing I see in all this like it or not is a sportster plant in MADRASS INDIA. East troy isn't big enough for sportster production especially as it will probably be the mainstay of Harley for the next couple of years as there is no money for HUGE CROME COWS | ||
| 46champ |
Rocket here in the USA about the only association most of us have with MV motorcycles is with the website mvagusta.net. Thru this whole fiasco that has been the most anti buell website around surpassing stupidbikeplanet. They may have changed their spots in the last couple of weeks but for the most part they're a bunch of elitist jerks. | ||
| Oldog |
Rocket's back on his abrasive Euro-centic ranting podium. Complete with obligatory personal attack. I thought that his observations about MV were interesting, Why the provocitive comments? I asked about how common were MV in europe and I wanted a perspective outside of our [ my ]little universe, I am largely un informed about MV but that kinda rings true about the Status aspect of ownership, err RUB, I thought that the comments reguarding Twaddle speak are not with out merrit, Bad decisions are not unheard of though our automakers are a prime example. I have seen it at the place I used to work the attitude of its some one elses fault was rampant, from what I hear it still is. Thanks for the response Rocket, We agree to disagree .. =) } | ||
| Court |
>>> but for the most part they're a bunch of elitist jerks. All 74 of them. | ||
| Rfischer |
74?? I thought they'd only sold 71 bikes....musta had a big year. | ||
| Edgydrifter |
Buellinachinashop: Always go with the REBOV. That's quality American-made ebola! | ||
| Rex |
A friend of mine has purchases a couple of MV Agustas. They rev very high. I hope that the company that has them, can continue. It has been, and is still a respected name in motorcycling. Small production and expensive. Nothing like the MV's of old, but hey, they are making motorcycles. I wish and hope they get a buyer. Same thing for Buell. Buell should continue, and not be shelved. That just not seem right, especially when you need cash, and Buell could be sold to some group and continue producing motorcycles. Never buy a sweeper from someone that doesn't use a sweeper. If you are the head of a company, you should know the product and use the product. you have to have enthusiasm for your product, not just manage its assets. Without enthusiasm and passion for a company and product, sell it, put the money in the bank and manage the money. I would want someone to have passion in their leadership, if they were in a company I worked for. This is what you had with the original group that purchased back HD. They were motorcycle enthusiasts and wanted to make motorcycles. I believe Erik Buell and his employees were these kinds of people. You came to work to make motorcycles, you enjoyed coming to work to make motorcycles, you enjoyed working hard and long hours, because you loved what you were doing. The people on the production line at Buell loved what they were doing,even if it was the same thing everyday. They realized that they were making motorcycles and gear for us, the enthusiasts. We loved our brand, and they were proud that we did. I have seen guys at the plant, during homecoming, take a bike into the building and spend time helping the owner with a problem. They loved to come out and look at the bikes. I saw the excitement in their eyes, when buell owners would pull up. they would come out, take photos and look at the bike and see what the person had done to his bike. They lived the passion. I am not saying that the current HD excecutives do not, but they should. | ||
| Rocketman |
This topic is about MV, as are some others. At every opportunity there are those that keep bleeding on the topic with the same old nonsense that MV sold for a euro and is probably worth the same now. There are many topics on the Buell situation, and yes MV comes up in them. They're bound to. But why spoil the topics by turning them sour? What good purpose does it serve Buell? In my opinion the MV situation should be better understood. Especially by an American public who for understandable reasons don't revere the brand perhaps as much as us European settlers do. Why a certain person here seems to take pleasure by misleading all in to believing MV is a laughing stock or something similar is just bloody childish. Frankly if his modus operandi is he thinks he's throwing me enough rope to hang myself then he'd be right. I'd willingly hang rather than see you fed some of the crap spouted here. Anyway, if MV is only worth a euro, about a dollar and a half, why hasn't a wealthy guy like Court bought it and put Erik in the chair to build Buells alongside MV's? Talks cheap and it's what people do, not say, that counts. So you guys with the long knives pipe down or use 'em. I've got a police issue stab vest somewhere. Rocket | ||
| Fast1075 |
I like ya Rocket...it is never boring when you type....carry on...let the games continue...i really enjoy a good game of point/counterpoint. Or as the old Monte Python skit goes...is this a 5 minute argument??? |
