31/12/2011 by info.

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20/04/2011 by info.

Press release follows:

Polaris Industries Inc. today announced the acquisition of Indian Motorcycle. The business was acquired from Indian Motorcycle Limited (“IML”), a company advised by Stellican Limited and Novator Partners LLP, U.K. Private Equity firms. Terms of the transaction were not disclosed.

“We are excited to be part of the revitalization of a quintessentially American brand,” said Scott Wine, CEO of Polaris Industries Inc. “Indian built America’s first motorcycle. With our technology and vision, we are confident we will deliver the classic Indian motorcycle, enhanced by the quality and performance for which Polaris and Victory are known.”

With this acquisition, Polaris adds one of motorcycling’s legendary brands to its strong stable of Victory cruiser and touring bikes. Indian will operate as an autonomous business unit, building upon the potent combination of Polaris’ engineering acumen and innovative technology with Indian’s premium brand, iconic design and rich American heritage.

“We are delighted to have reached an agreement with Polaris. Polaris will utilize its well-known strengths in engineering, manufacturing, and distribution to complete the mission we undertook upon re-launching the brand in 2006: harness the enormous potential of the Indian brand,” said Stephen Julius, chairman of Indian and managing director of Stellican. “Polaris is the most logical owner of Indian Motorcycle. Indian’s heritage brand will allow Polaris to aggressively compete across an expanded spectrum of the motorcycle market.”

Novator Partners LLP is a London based alternative investment firm founded and led by the investor Mr. Thor Bjorgolfsson. An avid motorcycle enthusiast, Mr. Bjorgolfsson said “After a troubled past, our goal was to bring the legendary Indian bikes back on the roads. The initial phase of that project is done and now our great partners at Polaris will carry on the work to realize the full potential of this classic American brand.”

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05/04/2011 by info.

Whether internet speculation or just a sad fact, the different reports of Big Dog Motorcycles taking its final ride is certainly a sign of the motorcycle times.

The reason behind the news, a report from the motorcycle manufacturer’s hometown of Wichita, Kansas and a post on a high profile blog.

Big Dog Motorcycles was founded in 1994 and produces custom style choppers carrying names like Bulldog, Pitbull and Ridgeback. In 2006, Big Dog manufactured its 20,000th motorcycle.

The official word of Big Dog’s recent trouble came from a report in the Wichita Eagle stating the company cut 10 production workers and now has 22 employees. Reportedly, Big Dog hasn’t produced any motorcycles since last year and the company was filling orders for parts and other supplies.

But the popular custom motorcycle blog Cyril Huze wrote of a much darker picture for the small independent motorcycle company on Monday claiming they had called different dealerships carrying the line of bikes to tell them ‘that they are done.’

Big Dog’s President Mike Simmons claims that’s not the case.

“We’re still open just like we were last week,” Simmons told the Wichita Business Journal. He did however defer any discussion of the future of the company to its owner Sheldon Coleman.

We all wait further developments….

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17/03/2011 by info.

We really hope there was nobody riding this when the tsunami hit.  Mother Nature shows us how small and insignificant we all are in the vast scheme of things…

Our thoughts, hopes and best wishes go to the Japanese people during this difficult time.

Because of Japan’s enormous role in the motorcycle industry, Greg Hatton and Jon Bekefy thought it would be fitting to organize motorcycle riders, enthusiasts, employees and fans on every level and create a place to contribute to the relief efforts, helping, in return, a country that has contributed so much to all of us. MotoForJapan is that place.

Link: MotoForJapan

Contributions are forwarded to the Red Cross relief efforts. You can contribute a little or a lot, but anything you give will help get Japan back on its feet. Look outside your own window, then look at the photos and videos from Japan. The people of Japan are strong but they could use a hand during this time of very immediate need.

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21/05/2010 by info.

Press release below:

MINNEAPOLIS (May 20, 2010) – In an effort to improve its long-term competitive positioning, increase operational efficiencies and position the company for future growth, Polaris Industries Inc. (NYSE: PII) today announced plans to realign its operations and refocus on its core strategic manufacturing processes. The Company will create manufacturing centers of excellence for Polaris Products by enhancing the existing Roseau, Minn. and Spirit Lake, Iowa, production facilities and establishing a new facility in Mexico.

The Company is currently evaluating several possible locations in the Monterrey/Saltillo area of Mexico for the new facility. The realignment will lead to the eventual sale or closure of Polaris’ Osceola, Wisconsin manufacturing operations over time. The realignment allows the Company to dedicate capital for strategic investments in painting, welding and assembly operations by outsourcing certain non-strategic component manufacturing processes. The Mexico facility is expected to maintain Polaris’ industry leading quality while improving the Company’s on-time delivery to customers and provide significant savings in logistical and production costs.

“While this was a difficult decision for us, given the impact on our employees at the Osceola facility, we believe the creation of these manufacturing centers of excellence will strengthen our company over the long-term and enable us to maintain our lead in a competitive market,” said Scott Wine, CEO, Polaris Industries Inc. “Pursuing opportunities in new markets outside the United States, while concurrently evaluating our cost structure to improve our long-term competitive positioning are key components to our growth strategy. This decision was based on a thorough review of our worldwide operations and will allow us to improve our ability to meet the quality, delivery and cost standards desired by our dealers and customers.”

The realignment of Polaris’ manufacturing footprint will strengthen the Company’s position in the powersports industry, as it will enable Polaris to have production facilities closer to customers in the southern United States and global markets the Company currently serves or expects to serve in the future. When the manufacturing realignment is completed the Company will have capabilities to manufacture ORVs (both ATVs and side-by-side vehicles), which represents more than two-thirds of the Company’s sales, in multiple locations depending on customer demand.

Snowmobile assembly will remain in the Roseau facility and Victory motorcycle assembly will remain in the Company’s Spirit Lake facility. As part of the manufacturing realignment, certain Osceola manufacturing processes will be moved into the Roseau, Spirit Lake and Mexico facilities to more effectively utilize Company resources. In addition, certain manufacturing processes and equipment are intended to be sold to suppliers whom will continue to supply components to Polaris. Other non-strategic component manufacturing operations currently performed in the Osceola facility will be outsourced. The realignment will begin immediately and is scheduled to be complete in 2012. The Company will look to have the new production facility in Mexico operational beginning in the first half of 2011.

Polaris is currently in negotiations with several suppliers to sell certain non-strategic component manufacturing processes and equipment in the Osceola facility. If successful, Polaris’ intent is that the suppliers will continue to manufacture these components in the current Osceola location. Polaris will operate the Osceola manufacturing facilities during the transition period. Upon completion of the transition, Polaris will provide the affected employees severance benefits and work closely with the Wisconsin Department of Labor and other state and local agencies to offer employment assistance and other services.

The Company expects to record pretax transition charges to its income statement in the range of $20 million to $25 million and incur capital expenditures up to $35 million over the next few years related to the implementation of the manufacturing realignment. The Company expects the Osceola facility exit costs, comprising largely of one-time employee termination benefits, to amount to approximately a third of the total transition charges, while the start-up costs related to the new Mexico facility and other centers of excellence will comprise the balance. Transition charges to be incurred in calendar year 2010 are expected to be in the range of $8 to $10 million. The Company’s current earnings guidance of earnings per share of $3.48 to $3.60 for the full year 2010 will not change as a result of this announcement. The realignment is expected to generate pre-tax costs and expense savings in excess of $30 million on an annual basis when the transition has been completed. The Company expects to begin realizing some of the cost savings as early as 2011.

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16/03/2010 by info.

Shares of Harley-Davidson  (HOG) rose 6% to a three-month high on heavy volume Tuesday morning amid trader speculation that the motorcycle maker could be the target of a leveraged buyout from private-equity giant Kohlberg Kravis Roberts.

While the markets buzzed about the possibility the company could be taken bought out, KKR was mum. “We never comment on deal speculation,” Peter McKillop, director of corporate communications at KKR, told FOX Business.com

Harley-Davidson spokesman Bob Klein said, “We don’t comment on market rumor and speculation.”

Still, the motorcycle maker’s stock gained 6.98% in recent trading to $28.35. Earlier, it hit $28.46, its highest level since Dec. 8. Harley-Davidson’s shares have surged 137% from a year ago.

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09/02/2010 by info.

The Learning Channel has just announced that the long running pseudo reality show American Chopper has finally been cancelled. After Paul, Jr. left the show and Paul, Sr. sued his son, the show finally succumbed to the same fate as many custom build shops. The finale will run this Thursday, February 11th.

I didn’t like the programme but you couldn’t argue with the fact that the series brought custom motorcycles to the attention of a lot of people who probably wouldn’t have thought about or gotten involved with custom bikes, which has to be a good thing for everyone involved in the industry.

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21/12/2009 by info.

We at Pro-Street Cycles would like to wish all our customers and the readers of our blog, a very Happy Christmas and a Peaceful & Enjoyable 2010 !

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03/12/2009 by info.

The vote is over and the employees in York, PA accepted the contract, but almost half of the jobs at the plant will be lost.

Wednesday, the union employees at Harley’s plant in York, Pa., approved a seven-year contract that will likely keep the motorcycle assembly operations in York but will result in the loss of nearly half of the 1,900 jobs.

The vote was 1,587 in favor of the contract and 193 against it, according to the York Daily Record.

Now, with the approved contract, York keeps about half of its jobs. The terminated employees will be eligible for severance pay and a $10,000 buyout payment.

It looks like the plant will survive, costs will be cut and HD will move forward but that is quite a downsizing. Will it be enough to keep the company going?

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15/08/2009 by info.

VIERA — Celebrity motorcycle builder Billy Lane said he has driven every day for nearly three years past a stretch of State Road A1A in Melbourne Beach where he fatally struck and killed Gerald Morelock in a head-on collision.
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It’s there, Lane said in court Friday, that “I pray to God for his soul and for his family.”

For the next six years, Lane will be an inmate in the Florida Department of Corrections after a judge delivered his sentence Friday in Morelock’s Sept. 4, 2006, death. Police said Lane was driving drunk — his blood-alcohol level at twice the legal limit — when his pickup collided with the 56-year-old’s motorcycle.

He had faced up to nine years in prison under the terms of a plea deal in which he pleaded no contest to one count of vehicular homicide.

“I take full responsibility,” Lane, choking back tears, told the judge before his sentencing. “I was very careless. I’m not looking for pity on myself. Whatever you decide today, judge . . . I hope you’ll look at Mr. Morelock and myself and make a fair decision.”

Circuit Court Judge Robert Berger also sentenced Lane to three years of probation and suspended his driver’s license for life.

Lane also must attend a victim awareness class and undergo random drug and alcohol testing during his probation. He already has completed a court-ordered class about driving under the influence, his attorney said.

The sentence capped three years of legal wrangling, which included a change in defense attorneys, a change in judges and a settlement of a wrongful death suit brought by the victim’s family. A civil suit filed by Lane’s passenger, who was injured in the crash, lingers in civil court.

The judge in June approved a plea deal in which prosecutors agreed to drop the DUI manslaughter charge, saying both charges carry the same penalty, and their goal was for Lane to accept responsibility.

In court Friday, Lane’s attorney, Greg Eisenmenger, argued for a sentence without prison time, citing a desire by Morelock’s family for a “positive resolution” and saying the need for restitution outweighed the need for incarceration.

BY KEYONNA SUMMERS • FLORIDA TODAY • August 15, 2009

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