Harley Financial Services has it's own subprime loan problems...that's what happens when you loan money on bikes with no money down and low credit scores....I hear that HD has a very high repo rate right now.
napalm
Yep, and the HDFS Prez has gone away after less than 2 years with the MOCO:MILWAUKEE (January 8, 2009) - Harley-Davidson, Inc. (NYSE:HOG) announced today that its Chief Financial Officer, Tom Bergmann, will take on the added responsibility of interim President of Harley-Davidson Financial Services (HDFS), effective immediately. The appointment follows HDFS President Sy Naqvi’s personal decision to resign. Naqvi joined HDFS as President in February 2007. Bergmann will serve as interim HDFS President while the Company conducts a comprehensive external search. “In the current economic environment, HDFS is an especially important priority for us and Tom has been highly involved in guiding that business,” said Jim Ziemer, Chief Executive Officer of Harley-Davidson, Inc. “I am confident Tom is the right person to lead HDFS through this transition.”
Before joining Harley-Davidson as CFO in 2006, Bergmann was the CEO of USF Corporation, a $2.5 billion publicly traded transportation and logistics company. Bergmann also served as Corporate Controller and Vice President of Finance for Financial Services at Sears, Roebuck and Co., and in senior level positions at The St. Paul Companies, Inc. and Johnson & Johnson, among other executive positions he has held. “HDFS has a strong leadership team and I am looking forward to working with them even more closely,” said Bergmann. “We wish Sy well in his future endeavors,” he said.
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Topic: HARLEY STOCK (Read 2157 times)