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CVO Social => Other Topics => Topic started by: soulfly on May 22, 2018, 09:41:21 AM

Title: Harley-Davidson took its tax cut, closed a factory, and rewarded shareholders.
Post by: soulfly on May 22, 2018, 09:41:21 AM

“Tax reform can put American manufacturers and American companies like Harley-Davidson on a much better footing to compete in the global economy and keep jobs here in America,” House Speaker Paul Ryan told workers and company leaders.  Four months later and 500 miles away in Kansas City, Missouri, 800 workers at a Harley-Davidson factory were told they would lose their jobs when the plant closed its doors and shifted operations to a facility in York, Pennsylvania — a net loss of 350 jobs. Workers and union representatives say they didn’t see it coming. Just days later, the company announced a dividend increase and a stock buyback plan to repurchase 15 million of its shares, valued at about $696 million.  :soapbox: :oops: :'(

Title: Re: Harley-Davidson took its tax cut, closed a factory, and rewarded shareholders.
Post by: skratch on May 22, 2018, 10:16:16 AM

you do realize that these things are not all related?  the decision to close kc was not made as a result of the tax cut.  that's something that's been in the works for a while.

Title: Re: Harley-Davidson took its tax cut, closed a factory, and rewarded shareholders.
Post by: guppytrash on May 22, 2018, 11:30:55 AM

I agree not related.

That being said anyone who thinks the big corps are going to use those tax cuts to create jobs is drinking some stiff kool-aide.

Lots of moving parts to this conversation. 

Title: Re: Harley-Davidson took its tax cut, closed a factory, and rewarded shareholders.
Post by: iski on May 22, 2018, 02:22:03 PM

V Rods & Dynas no longer in production drove this decision as much as anything, besides the overall decline of sales in the motorcycle market.

Share buyback is done by many companies when stock is considered to be at a low sell point.  HD had a dismal year in the market, stock is down YTD a little over $10 per share or about 20%.

Title: Re: Harley-Davidson took its tax cut, closed a factory, and rewarded shareholders.
Post by: Fired00d on May 22, 2018, 05:24:22 PM

Harley-Davidson Took It's Tax Cut, Closed A Factory and Rewarded Shareholders (https://www.msn.com/en-us/money/companies/harley-davidson-took-its-tax-cut-closed-a-factory-and-rewarded-shareholders/ar-AAxD6bK?ocid=spartanntp)

 :pumpkin:
Ride Safe,
Fired00d
 :fireman: