| Author | Message | ||
     Hughlysses |
This may be the answer to many questions asked here recently. http://www.roadracingworld.com/news/hero-motocorp- ltd-trouble-in-india/ | ||
| Cmmagnussen |
20 mill eh? That would have made a difference.... | ||
| Snacktoast |
Seems to me that would have made ALL of the difference  | ||
| Reepicheep |
Doesn't it also mean that EBR isn't as "troubled" as we thought? We know EBR is carrying debt, but we also assumed Hero had a big slice of ownership. If they never paid, then perhaps they don't, and if somebody purchased EBR they have $20M in fewer outstanding obligations than we were thinking. | ||
| Pjd2ss |
So it was the Hero money that was the issue. The EBR payroll is probably on the order of about $20 mil for a year, so you could see how the loss of that money would stop operations... | ||
| Noone1569 |
Operations were stopped pretty much by requirement of Wisconsin 128; no funds can be spent until the receiver authorizes such. Thus, no operations. . .No supplies. . .no wages. . . no insurance . .etc | ||
| Generalcuz |
And there is the missing piece to validate this puzzle. It kind of saddens me that this happened. I wish Erik never took the money from Hero in the first place. It might have taken longer to get bikes to the marketplace and build EBR. "Fiercely Independent," irony.....  | ||
| Sparky |
BBC news channel on TV had a segment on India Financial News last night. When I turned it on there was Hero Boss Pawan Munjal reporting on Hero's finances. I missed the first part of the interview but did catch the part where the new models that EBR designed, the hybrid scooter, various singles, etc. supposedly going to be produced are on hold now. I would like to see a replay of this program. |
