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Author Topic: Harley in the news again  (Read 12212 times)

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tazmun

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Harley in the news again
« on: November 25, 2008, 12:42:53 PM »

This was in the Milwaukee Journal-Sentinel today:

http://www.jsonline.com/business/34987544.html
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Firechief2

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Re: Harley in the news again
« Reply #1 on: November 25, 2008, 12:49:58 PM »

I think MoCo will come out of this albeit with some bad bruising. It is the dealers that are going to suffer the worst, with many dissappearing.
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Re: Harley in the news again
« Reply #2 on: November 25, 2008, 01:52:10 PM »

As with anyone needing access to the credit markets from both ends (company to get loans and customer to get loans) the months ahead undoubtedly will be hard for Harley and its dealers.
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SERK3

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Re: Harley in the news again
« Reply #3 on: November 25, 2008, 03:10:44 PM »

At least they haven't been to Washington holding out the tin can begging for money like the auto industry has, Then fly home in their corp. jets
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Re: Harley in the news again
« Reply #4 on: November 25, 2008, 04:06:06 PM »

US Treasury is acting to make it easier to get consumer loans:

U.S. Treasury Department Office of Public Affairs

 
Embargoed Until 10 a.m. (EST), November 25, 2008           
Contact Jennifer Zuccarelli, (202) 622-8657
 

Secretary Paulson Remarks on Consumer ABS Lending Facility

 
Washington— Today the Treasury and the Federal Reserve are announcing a facility to finance the issuance of non-mortgage asset-backed paper in order to support lending to consumers and small businesses that is vital to our economy.
 
The consumer asset backed securities market is a source of liquidity to financial institutions that provide federally-guaranteed small business loans and consumer lending such as auto loans, student loans and credit cards.  Issuance of ABS in these areas reached $240 billion in 2007, but credit market stresses led to a steep decline in the third quarter of 2008, and the market essentially came to a halt in October. As a result, millions of Americans cannot find affordable financing for their basic credit needs.  And credit card rates are climbing, making it more expensive for families to finance everyday purchases.  This lack of affordable consumer credit undermines consumer spending and as a result weakens our economy.
 
To address this need and support the return of consumer lending, the Treasury will provide $20 billion of credit protection to the Federal Reserve in connection with its $200 billion Term Asset Backed Securities Loan Facility. By providing liquidity to issuers of consumer asset backed paper, the Federal Reserve facility will enable a broad range of institutions to step up their lending, enabling borrowers to have access to lower cost consumer finance and small business loans.  The facility may be expanded over time and eligible asset classes may be expanded later to include other assets, such as commercial mortgage-backed securities, non-agency residential mortgage-backed securities or other asset classes.
 
Throughout this financial market turmoil, our focus has been to stabilize the system and support the lending that is vital to our economy.  Toward that end we’ve taken steps to strengthen the capital position of our financial institutions, to stabilize the system and to enable them to increase lending to American consumers and businesses.  Similarly, we’ve acted to stabilize the GSEs and to purchase GSE mortgage-backed securities, in order to increase the availability of affordable mortgage credit throughout our nation.  Today’s initiative to support the small business and consumer finance market is similarly aimed at increasing the availability of affordable lending.  Today’s announcement by the Fed that it will purchase direct debt obligations of Fannie Mae, Freddie Mac and the Federal Home Loan Banks, and also mortgage backed securities guaranteed by Fannie, Freddie and Ginnie Mae, underscores our support for the housing market. Nothing is more important to getting through this housing correction than the availability of affordable mortgage finance.
 
It will take time to work through the difficulties in our markets and our economy, and new challenges will continue to arise.  I and my regulatory colleagues are committed to using all the tools at our disposal to preserve the strength of our financial institutions and stabilize our financial markets, to minimize the spillover into the rest of the economy.   
 

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DavidB

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Re: Harley in the news again
« Reply #5 on: November 25, 2008, 08:04:03 PM »

I think MoCo will come out of this albeit with some bad bruising. It is the dealers that are going to suffer the worst, with many dissappearing.

  To bad Harley pushed dealers into building multi million dollor buildings that they cant pay for now.
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RJ749

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Re: Harley in the news again
« Reply #6 on: November 25, 2008, 09:59:33 PM »

  To bad Harley pushed dealers into building multi million dollor buildings that they cant pay for now.


They may come to regret it.  Of course it wasn't Harley that pushed them, they made independant business decisions on their own ::)

It truly is a problem not only for Harley but look at some of the Toyota stores around or Honda or Benz or VW....... it was all part of the euphoria.

Well I guess that seems to be over for the moment.  I hope things get moving, there still are people employed and able to buy, they just aren't.

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Re: Harley in the news again
« Reply #7 on: November 26, 2008, 05:06:29 AM »

They may come to regret it.  Of course it wasn't Harley that pushed them, they made independant business decisions on their own ::)

It truly is a problem not only for Harley but look at some of the Toyota stores around or Honda or Benz or VW....... it was all part of the euphoria.

Well I guess that seems to be over for the moment.  I hope things get moving, there still are people employed and able to buy, they just aren't.



How're things going for you Rog?  Hope everything is still going okay.

  :devil:
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HUBBARD

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Re: Harley in the news again
« Reply #8 on: November 26, 2008, 08:00:58 AM »

They may come to regret it.  Of course it wasn't Harley that pushed them, they made independant business decisions on their own ::)
It truly is a problem not only for Harley but look at some of the Toyota stores around or Honda or Benz or VW....... it was all part of the euphoria.

Well I guess that seems to be over for the moment.  I hope things get moving, there still are people employed and able to buy, they just aren't.



Not what I heard.  I know one in WV that was told to build a new facility, or someone else would.  Fact.  'Course he's not in a squeeze, as he paid up for his new digs.  I've known this man for 30+ years, and I promise you he would not have spent the money if he didn't have to.  Later--HUBBARD
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spydglide

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Re: Harley in the news again
« Reply #9 on: November 26, 2008, 08:22:28 AM »

Not what I heard.  I know one in WV that was told to build a new facility, or someone else would.  Fact.  'Course he's not in a squeeze, as he paid up for his new digs.  I've known this man for 30+ years, and I promise you he would not have spent the money if he didn't have to.  Later--HUBBARD
I think it has been some of both, in many cases the older ones  were 'pressured' to up-grade to the bigger/fancier facilities.  The gov't. injection of additional 'credit' for a society that's already extended to the max is kinda hard for me to understand how this is going to solve any problems except in the very short term.   :-\  spyder
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Re: Harley in the news again
« Reply #10 on: November 26, 2008, 09:10:13 AM »

At least they haven't been to Washington holding out the tin can begging for money like the auto industry has, Then fly home in their corp. jets

BS. HDFS was one of the first to file for assistance. They were well ahead of the first deadline.

SBB

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Re: Harley in the news again
« Reply #11 on: November 26, 2008, 09:14:47 AM »

At least they haven't been to Washington holding out the tin can begging for money like the auto industry has, Then fly home in their corp. jets

Now how stupid was that?

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Re: Harley in the news again
« Reply #12 on: November 26, 2008, 10:48:02 AM »

Now how stupid was that?

 :nixweiss: :nixweiss: :nixweiss: :nixweiss:

I think they were told that by congress.  And, that they arrived empty handed without a long term plan to present in trade for the $
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Re: Harley in the news again
« Reply #13 on: November 26, 2008, 10:50:48 AM »

I thougt is was more arrogant the stupid, but it is typical of those so far up the food chain they have no idea what it is to get by on a "living" wage and how they will blame the hourly union guy for the problems.
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Re: Harley in the news again
« Reply #14 on: November 26, 2008, 10:52:05 AM »

I think they were told that by congress.  And, that they arrived empty handed without a long term plan to present in trade for the $

Can you imagine the press coverage if one of the three automakers had just thought to arrive by Trailways or Greyhound?
That automaker would have gone home with a check instead of the boot!

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