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Archive for Sunday, January 24, 2010

Harley-Davidson posts fourth-quarter loss

January 24, 2010

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— Harley-Davidson Inc. reported a fourth-quarter loss Friday, its first quarterly deficit in 16 years, after restructuring costs and the sluggish economy.

Harley-Davidson has come under pressure over the last year as tight credit markets and the weak economy led consumers to shun purchases of its high-end, heavyweight motorcycles.

The company has been reorganizing through layoffs, factory closures and shuttering or selling unwanted brands.

“We expect 2010 to continue to be challenging,” Chief Executive Keith Wandell told investors in a conference call.

Comments

kansasmutt 4 years, 11 months ago

The bottom line is banks have shut off credit for any bikes. They feel they are all toys. They dont understand guys like bikes to save thousands of dollars a year on gas spending. The banks also just are saying no to any lending becuse the investers are sitting on billions and dont want to lend it. Until they are made to lend money or face jail time, they wont lend a dime. They ( big banks ) got buzillions and made buzillions on the bailout and they havent loaned a dime of it out. They drew interest on that money, raised intrest , raised fees , raised penalties and took in ten fold of buzillions only to keep it all. CAP one made $64 billion in proffit last quarter , not a bad chunk of change for using our money free of charge for 18 months.Until constaruction grows, you wont see a dime move. You wont see construction grow until the banks are set back to having a huge nestegg and are ready to loan again. I look for this to last 2 to 3 years and then things will free up some. BUT the banks control it all and they want more money and have to fill that greed bucket full before they will loan a dime. The best thing for everyone to do is keep your money out of the banks and stay debt free and let those banks fail. Use local small banks, check to see if your bank is local and if not change banks. Those big fellas will fall fast if we can keep the small ones going. Shop local and save local. Some local banks are Kaw Valley bank - Leavenworth Mutual bank - Baldwin State bank Check your smaller town banks out.

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