| Author | Message | ||
     Dmhines |
Reliable sources in the USA have said that massive Hero Motor Corporation are to buy out all of the EBR shares from Eric Buell and now own the Erik Buell Racing operation in total. Sources also said that Erik Buell has also been given full time employment and the famous American motorcycle brand will remain in place. This is great news for EBR customers and fans along with their agencies and dealers worldwide. This move could also see the EBR WSBK team back on the race track again. http://www.motorcycle.in.th/article.php/Eric-Buell -Racing-Bought-by-Hero-Motor | ||
| Court |
Name 2 of the "reliable" sourceS. The one you posted can't spell "Erik". That makes me leery. I'm eager to hear about the thrilled dealers and customers. Yesterday was certainly interesting. | ||
| Ljm |
I'll bite. Customer x 3. I will be happy when it is substantiated and we can see that there is a future in parts and service. I have mixed feelings if it is Hero, but also admit that we have no way to know if any of the rumors and innuendo are even remotely true. So, that is a tentative happy customer, provided things move forward. | ||
| D_adams |
I'll go out on a limb here and say it is NOT hero. | ||
| Figorvonbuellingham |
I hope its not Hero!!! I thought were excluded from purchasing it? | ||
| Figorvonbuellingham |
Double post (Message edited by figorvonbuellingham on July 24, 2015) | ||
| Germblast |
I really want to get an 1190SX, but if Hero will now owns the company....I won't get one. I have no idea what direction Hero will take EBR. The risk is not worth it especially if I will need replacement parts in the future for the 1190 as just about every bike does. Could end up with poor quality stuff in the future. | ||
| Classax |
IF its HERO I will NOT be a happy customer. | ||
| Snacktoast |
A hypothetical, since we don't know the validity of the source... Consider, just for a moment all of the people that worked for EBR. Not Buell, pre-HD or during HD's ownership. Just when it was purely EBR from October 2010(?) to April 2015. Imagine that the company that withheld payment for your company's engineering services, and essentially trashed the EBR Motorcycles name by shutting dealers and customers out cold turkey (marketing/manpower/funding problems aside).....Would you, for a SECOND, consider working for that corporation if they were now the sole owner and shot caller? ugh... | ||
| Court |
Not happening. Tough to convince me Erik Buell has aligned himself with patently dishonest and dishonorable partners. They'd not be able to give product away. I've yet to be convince that owners and dealers are thrilled. I'm calling bullshit on the story. | ||
| Germblast |
not a f'in chance....walmart is always hiring | ||
| Xb9er |
Not sure how Hero could buy EBR. I think Norton will have the top bid... | ||
| Old_dog |
Hero had cash-flow problems such that they couldn't pay 'EBR the vendor.' But they have the scratch to buy the whole carcass? Doesn't sound right. This story smells. | ||
| Snacktoast |
A source very close to the situation, someone I would trust a lot, has informed that this story is NOT true. I think we can all sleep a little easier tonight... well, at least I can.  | ||
| Coolice |
 | ||
| Ourdee |
Ringing up Male Bovine Defecation. | ||
| Ourdee |
Well? | ||
| Court |
I suspect the facts regarding what has transpired will thrill some....anger some.....amaze some and, as has been typical at every commercial turn of the company, have the internet abuzz with speculation and an endless parade of woulda, coulda, shoulda speculation. | ||
| Carbonfibrebob |
Do tell !!! | ||
| Zac4mac |
According to my "inside" info, no auction yet as of 4am today. | ||
| Readyxb |
^ Here is what IDS had to say about this Hero story: "...With the journalistic bar now set so low, Asphalt & Rubber feels comfortable reporting that there is indeed a new owner for Erik Buell Racing, but it is not Hero MotoCorp, but instead the Flying Spaghetti Monster — deity to the Church of the Flying Spaghetti Monster." Yes! Finally, the truth comes out. | ||
| Trackdad |
Ok, so when is the Auction/Sale supposed to happen? | ||
| D_adams |
End of this week possibly. | ||
| Court |
>>>no auction yet as of 4am today. That's no more accurate than the other story. Be careful what you read and believe. | ||
| Noone1569 |
Paperwork received my EBR owners today stating that the auction is Aug 5th (had a typo saying the 4th earlier) (Message edited by noone1569 on July 27, 2015) | ||
| Snacktoast |
Noone, Per the latest information and paperwork, the auction is scheduled for August 5th at 10am. | ||
| Hughlysses |
Court- I think you got auto-corrected in the first of your two posts above (?). The business with the debt sounds very interesting. Edit- dammit! Another drive-by Phantom post! (Message edited by Hughlysses on July 27, 2015) | ||
| Finedaddy1 |
It wouldn't surprise me if it were an auto manufacture. Audi = Ducati, Mercedes = MV Agusta.. Just speculation, I don't know shit from apple butter about what's going on. | ||
| Davegess |
Yes, the letter from the attorney arrive today. Auction on the 5th with the court scheduled to approve, or not, on the 6th. | ||
| Airbozo |
...mmmmm apple butter...... ...aaarrrgggghhhhh......... | ||
| Court |
Your eyes can deceive you; don't trust them ... | ||
| Ponti1 |
Nothing to add of value, but subscribing to the thread to watch things unfold. | ||
| Cmmagnussen |
Can we change the thread title? I have a micro stroke every time I see it | ||
| Froggy |
Good idea! | ||
| Ponti1 |
LMAO!! Muuuch better | ||
| Dmhines |
Rather have Hero than Obama! LOL | ||
| Snacktoast |
It's like going from the frying pan into the fire!  | ||
| Hughlysses |
Interesting news from multiple Indian sources this morning. They're claiming Hero has reached a settlement with the receiver to buy certain EBR assets (this source states it's EBR's consulting business), which I'm assuming would include all the stuff EBR was working on for Hero: http://www.livemint.com/Companies/FDJSsEeianzBuH4z vLCrMM/Hero-to-acquire-EBRs-consulting-business.ht ml | ||
| Hughlysses |
Here's a press release from Hero which appears to substantiate the above news articles: http://www.moneycontrol.com/stocks/reports/hero-mo tocorp-clarificationrespect-topress-release-concer ningexecutiona-settlement-agreement-by-hmcl-na-inc hmcl-americas-inc-1282281.html | ||
| Dmhines |
So Free and Clear of all encumbrances ... what does that mean? Any claims against EBR will be void and dismissed? | ||
| Hughlysses |
Interesting question. Maybe it translates as "You sell us all the design information on the HX250R, Hastur, diesel/hybrid scooter, etc. for $2.8M, and we give up our 49% interest in EBR."  | ||
| Reepicheep |
I think so Hugh. So my guess is that Hero will get off for 1/3 of what they owed, but they also renounce any ownership of any other part of EBR in return, which adds value to the assets going up for sale. The buyer is free from the fear of Hero litigating, and Hero is free from the fear of the buyer litigating. It would be interesting to go back to the original investment, see how much it was, see what they have to write down, and see what they owed EBR for already done consulting work. | ||
| Hughlysses |
Interesting information in this article: http://www.autocarpro.in/news-national/hero-motoco rp-acquire-ebr-usd28-million-8949
| ||
| Ponti1 |
I would like to think Hughlysses is interpreting correctly. To clear the 49% stake while getting back ~10% of what had been owed from Hero does not sound like too bad an option, especially since it also gets them out of the picture going forward. Further, it may significantly reduce the investment required for the internal motorcycle design/production end of the business to be bought in whole. | ||
| Davegess |
I think Hughlysses may have it right. We will know for sure on 8/6 | ||
| Ljm |
Hopefully this will accomplish the divorce. | ||
| Hughlysses |
Court has some interesting comments in the similar thread on the Quickboard. | ||
| Alchemy |
As I read it, I don't see how this clears the 49%, not that that is important. This is related the the consulting agreement it seems which would have been a creditor eventually cleared by the receiver. This clears those damage claims off the list of all claims before the receiver - if approved. After all the claims are cleared, then any remaining assets (unlikely probably) would be apportioned out according to the percentages of ownership. But each claim that gets cleared makes it easier for someone to buy whatever remains. Of course IANAL so who knows. | ||
| Hughlysses |
^ I'm just thinking that the receiver must have had a substantial incentive to let Hero have their stuff for $2.8M rather than the alleged $20M they owed. The letter says: I took that to mean Hero relinquished their 49% ownership of EBR as part of the deal, but I guess we'll have to wait and see next week. I found a link to a more complete document regarding the settlement: http://www.moneycontrol.com/mccode/news/article/article_pdf.php?autono=2189221&num=0 (Message edited by Hughlysses on July 28, 2015) | ||
| Hybridmomentspass |
"Tough to convince me Erik Buell has aligned himself with patently dishonest and dishonorable partners. " This post interests me more than any others by Court on this subject. When I read this, and knowing how Court is in the know, it makes me think that the rumor/allegations that Hero owed $20M to EBR is false. Maybe Im reading it wrong. But if they, as many have reposted, withheld 20 milllion dollars from EBR, that would, in my opinion, make them 'dishonest and dishonorable partners,' yes? We've all see how rumors spread, such as the "Harley HAS to make parts for 7 years by law..." stuff (which Court usually asks the person to present this information). What if this is the new version of that? I got no stake in it, didnt buy an EBR and could not care less about what Hero is involved, or not involved, in. What I do care about is the truth. Hopefully soon we'll all know the story to all of this and they'll be back to making bikes (please let a Uly type come in about 6 months....) | ||
| Nobuell |
Having 20 million in unpaid invoices for engineering services to one company seems crazy to me. I cannot imagine any company allowing the receivables to extend that high without stopping services. There has to be more to that story. | ||
| Hughlysses |
Here's a reliable US media source confirmation of this transaction: http://www.jsonline.com/business/buell-auction-res cheduled-for-aug-5-b99545931z1-318861161.html | ||
| Court |
The sun is peeking over the horizon and it's bright. | ||
| Hughlysses |
A&R version of the story: http://www.asphaltandrubber.com/news/hero-motocorp -acquires-unfinished-rd-erik-buell-racing/?utm_cam paign=news&utm_medium=twitter&utm_source=twitter Somehow they read the Hero press release and seem to come away thinking EBR owed Hero money. | ||
| Steveford |
Court, A baby's head is like an elephant. Would you care to elaborate? (Message edited by SteveFord on July 28, 2015) | ||
| Hughlysses |
Per this article, now that they've apparently made a deal for the Hero projects EBR was working on, Hero says they have no interest in purchasing the other remaining assets of EBR: http://www.livemint.com/Companies/51ZQM3D5s6k4VK4U Zu0R4O/Hero-MotoCorp-will-not-bid-to-buy-out-bankr upt-partner-EBR.html | ||
| Finedaddy1 |
All sounds very positive to me. Any info. as to who will own EBR yet? | ||
| Hughlysses |
^ I think Court must have a really good idea, but he's not saying. | ||
| Phelan |
Except the Livemint article claims "the 1190cc bikes were $40,000 each". I guess they didn't get the memo that there were 3 different 1190cc models, with the latter 2 being much cheaper and much higher in numbers. | ||
| Phelan |
You heard it from me first- my guess is HD buys the company. Then sells it back to Erik for $1 a year later. Lol | ||
| S21125r |
Why not BRP? If I recall correctly, they were hours away from inking a deal with HD during the first closure before HD backed out. And if Victory is already headed in this direction on their own then this would be a good opportunity for BRP to play catchup. New company name will be EBRP. | ||
| Figorvonbuellingham |
Maybe Magpul will sneak in and grab it. | ||
| Crusty |
I think Mahindra Tractors is trying to expand their product line... | ||
| Hughlysses |
I think Mahindra Tractors is trying to expand their product line... Oh, they make diesel pickups too, which they were supposed to bring to the US a few years ago. That turned into a fiasco of Hero/EBR proportions. | ||
| Readyxb |
Elon Musk | ||
| Ocbueller |
Perhaps a collaboration of Buell and Motus. A Motus powered Buell creation. A Muell or a Butus. | ||
| Ducley |
Mule the StreetTracker guy might not like the name that sounds like his. Hmmmm...Methinks I hear lawsuits in the wind... Butus sounds too much like butt ugly... Butt Ugly Ulys???? | ||
| Oddball |
Muelltus Motuell | ||
| Ourdee |
Mobuell could have a Pegasus logo.....oh |
