www.CVOHARLEY.com
CVO Social => In The News => Topic started by: OBB on March 03, 2019, 06:44:16 AM
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Maybe people should pay their bills :o
https://www.biztimes.com/2019/industries/law/harley-seeking-6-3-million-from-new-berlin-janesville-dealerships/?fbclid=IwAR0q2kfCvLI91RndMdi6xwEg6bMqjTgxu6oPQaj9llbPpufFuODqjt7Qxd8
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I wish I had the option of not paying my bills...
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That might explain why my last Boardtracker parts order took over a month to ship.
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Takes the term "Stealership" to a new level... not only will they rip customers off now they ripping the MoCo off. :oops: :huepfenlol2: :huepfenlol2:
:fireman:
Ride Safe,
Fired00d
:pumpkin:
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Considering the shrinking sales figures I have little doubt this is NOT the only place that is selling out-of-trust and robbing Peter but not paying Paul. This sort of thing was common in the auto industry every time there was a big downturn in sales, as the highly leveraged hot shots tried to play games with inventory, failed to report sales to the automaker or other entity holding the floor plan loan, and in general didn't pay their bills. Any outside observer could easily see what they were doing and could also tell it wasn't going to work, but the desperate dealers still kept digging the hole deeper instead of coming clean up front and seeking help. The automaker I'm most familiar with now tracks dealership financials much more closely to try to head off as many of these situations as possible, but there are still a few even when sales aren't bad. Some people really shouldn't be running these kinds of businesses.
JMHO - Jerry
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No surprise now that auto dealership owners run some HD dealerships.
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Years ago we had a dealership here and in the Tri Cities area that was using money from bike sales to support his boat racing venture along with other things that took them down.
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https://www.biztimes.com/2019/industries/law/harley-seeking-6-3-million-from-new-berlin-janesville-dealerships/
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Pay your bills...
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I worked for a pretty large Japanese motorcycle dealership where the owner had a store in Cincinnati. 2 in Columbus and 5 in the Akron Cleveland area, he also had car dealerships as well, he eventually he sold all the motorcycle stores to a guy that had 3 other motorcycle stores in the area, I think the new owner got to big too quick. We went into work one Saturday, and the people from the bank came in all the stores at the same time and shut us down. As we found out latter, he was financing the same bikes with about three different banks and it caught up with him. The bad part is all the employee's lost there jobs, our last paychecks bounced, for customers, there where bikes torn down waiting for parts, there where deposits put down by customers for new bikes and special order parts that these people never got back. Then the bank had 2 days that you could go in the dealership and pick up your personal belongings, if you had a bike in the shop, you had to provide the title to get it, the techs had to show proof of ownership of there tools, it was a real mess, the best part was the owner did end up in prison for bank fraud, unfortunately after he was released he had a heart attack and died :o paybacks ;D
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Would be nice if the writer of the article could be more correct. He kept referring to "Broadtracker Harley" instead of Boardtracker.
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Boardtracker is my local dealership. I have not darkened their door for over two years. Finally catching up with them. It's a shame, because the previous owner was a stand up guy. They have gone from the top of the heap, MSRP dealership, to this... Sad...
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It's no surprise with declining sales that some dealers will try to survive by robbing Peter to pay Paul. I think we all expected some dealership contraction to accompany increasingly slow sales.