Sorry if this is a repeat thread. I thought this was interesting:
http://hellforleathermagazine.com/20...payer-bailout/
I'm glad companies I like got bailouts as well.

 

I wondered where the money to build the plant in India come from! I'm glad they put our Tax money where it would do the American worker the most good.

 

This was talked about on CNN this afternoon. Be interesting to see the reactions from the guys in here that say they'd never buy a gm or mopar because they took goverment money

 

I contributed to the bailout fund in 09

 

Never buying anything from anyone who ever took advantage of tax payer funded financial benefits would seriously curtail just about every purchase a consumer could make. I would rather my tax dollars go to prop up industries that pay wages that people work to earn rather than into the welfare state to pay someone to sit on their bum in front of the tube all day.

Full disclosure: I own a Chevy truck, I root for Hendrick Motor Sports and am glad GM didn't go poof.

I own a Harley and likewise am glad HD hasn't gone poof.

 

very true

 

From AP:

Harley borrowed the funds primarily to finance Harley Davidson Financial Services, the company’s arm that offers loans to motorcycle buyers, said spokesman Bob Klein.
Companies such as Harley traditionally take out short-term loans when they need liquid assets. During the economic downturn, much of that funding vanished and companies turned to a federal government program for their cash.
Harley, for example, borrows money from private sector lenders nearly on a daily basis, Klein said. When the federal program became available, the company borrowed as much as $1.5 billion between October 2008 and February 2009, Klein said.
Harley paid back the loans by mid-2009, Klein said.


They were allowed to borrow money because the banks weren't able to provide it due to their own cash problems.


Unlike GM, I didn't see any shareholders getting burned, or the union getting a plum deal in a "new" IPO.

 

Just to clarify- i wasn't posting to be critical of HD, I just think the secret nature of it was interesting. I'm glad the car companies got the bailout, too.

 

I think it's great they got the funds to remain viable.
Besides, What's a few Billion between friends?

 

A little over a year ago, I said that Harley might wind up in Chapter 11 bankruptcy
because of all the bad paper they were carrying.

"I think Harley will wind up in Chapter 11 sometime next year. Not so much because
of bad product development and marketing decisions (although they’ve made some
howlers), but because they got into the same “non-performing mortgage” situation as a
lot of banks did; by making thousands of loans to unqualified buyers. "


https://www.hdforums.com/forum/gener...any-under.html



If they hadn't received the bailout money, they'd have gone under... and I'm damn glad
they got the money.