More Trouble for HD
Banned
Joined: Jul 2008
Posts: 1,036
Likes: 67
WTF is going on here
The MOCO announced today June 10, 2009 that they have hired Lawrence G. Hurd as the new President and Chief Operating Officer for Harley Davidson Financial Services. This is the arm of Harley Davidson that has gotten the company teat in the wringer to the tune of 3-4 $$$billion for extending loans to sub prime motorcycle buyers who then defaulted on them. They also loan money to dealers for building their new Taj Mahal stores and do dealer floor planning as well. The guy takes over on June 29 at his new gig.
I said "new" gig but it really is not all that new. It seems like Mr. Hurd has cashed MOCO payroll checks before. From 2002 until 2007 he was the Chief Financial Officer of the MOCO. Ya, one has got to believe that he was either the architect or at least had a major hand in implementing the MOCOs ill conceived plan of financing a new motorcycles to anyone who could sit on a Harley seat without regard to their ability to pay for such.
One last thing that begs to be told. At his last gig, Mr. Hurd worked as the CFO for a firm that specialized in bankrupcy filings and exit financing for mid-market companies in the auto industry. I have not a clue as to why they hired a bankrupcy specialist to be their new Financial Services Officer, I am just tellin the tale.
Before anyone starts SPAMMING me, I have ridden Harleys for more years than many have been on this rock and I blow sweet kisses into my HOGS ears every night before putting her to bed. No, I don't ride any of that sissy metric stuff either. I used to though.
I said "new" gig but it really is not all that new. It seems like Mr. Hurd has cashed MOCO payroll checks before. From 2002 until 2007 he was the Chief Financial Officer of the MOCO. Ya, one has got to believe that he was either the architect or at least had a major hand in implementing the MOCOs ill conceived plan of financing a new motorcycles to anyone who could sit on a Harley seat without regard to their ability to pay for such.
One last thing that begs to be told. At his last gig, Mr. Hurd worked as the CFO for a firm that specialized in bankrupcy filings and exit financing for mid-market companies in the auto industry. I have not a clue as to why they hired a bankrupcy specialist to be their new Financial Services Officer, I am just tellin the tale.
Before anyone starts SPAMMING me, I have ridden Harleys for more years than many have been on this rock and I blow sweet kisses into my HOGS ears every night before putting her to bed. No, I don't ride any of that sissy metric stuff either. I used to though.
Tourer
Joined: Apr 2009
Posts: 336
Likes: 9
From: Elk Grove, California
We will eventually come out of this recession and Harley will survive. But, the Moco will need to make tough choices. Reduce production, reduce the number of dealers, streamline the model line. Just like every other business in the country. And, likely once we get out of the recession, consumers will probably be a little more wary of purchasing big ticket items and maybe be a bit more responsible and not over extending themselves. Or, like history has shown, consumers will have short memories and go back to their old spending habits.
Tourer
Joined: Jun 2009
Posts: 288
Likes: 1
From: Jacksonville, AL
As a "post baby boomer"(30) i have been riding metrics for 10 years. I just ordered my first Harley last month. Took me a while to get here, but now I can own a piece of the dream. I don't think they will be going anywhere for a long time.
As far as growing up in "the good years", I think that is where we are now. Harley is making a huge swing with all the changes to the touring line and sure more will follow. Will everybody like them. No, but I am sure there will still be the availability of the classic we have all grown to love...
My .02
As far as growing up in "the good years", I think that is where we are now. Harley is making a huge swing with all the changes to the touring line and sure more will follow. Will everybody like them. No, but I am sure there will still be the availability of the classic we have all grown to love...
My .02
Club Member
Joined: Oct 2006
Posts: 1,582
Likes: 72
From: North East
Good to hear the "next generation" is interested in and buying Harleys. Every trend goes thru up and down cycles. It's a safe bet the product offering as we know it today won't take HD back to the financial heights of the 90's however what's to say the new models/engines etc. won't accomplish that same goal.
Staying positive.
Tourer
Joined: Oct 2007
Posts: 392
Likes: 2
From: Southeastern Wisconsin
As an earlier poster mentioned, Harley is performing very well (relative to any large manufacturer, see GM, Chrysler, Etc) given the general state of the economy. I did my part, bought an 09 FLTR for myself in late December, and helped my 25 year old son buy his 09 FXDF in late April. I gave him the Rider's Edge class for a Christmas present.
Deals ARE out there if you know what you want to pay price wise, and your reasonable.
I asked for what I thought was the moon on both bike purchases and in each case got everything I asked for reduced from MSRP, price, free service, and free extended warranty, and free gift cards and even a free gas card on the Fat Bob.
It is still frustrating to see SOME dealers who hold on to the MSRP + pricing, or better yet no prices on the bikes at all, but there are smart business owners out there that do know how to do business.
If our generation keeps enlightening the new generation about the joys of riding, H-D will be around for a long time to come.
Deals ARE out there if you know what you want to pay price wise, and your reasonable.
I asked for what I thought was the moon on both bike purchases and in each case got everything I asked for reduced from MSRP, price, free service, and free extended warranty, and free gift cards and even a free gas card on the Fat Bob.
It is still frustrating to see SOME dealers who hold on to the MSRP + pricing, or better yet no prices on the bikes at all, but there are smart business owners out there that do know how to do business.
If our generation keeps enlightening the new generation about the joys of riding, H-D will be around for a long time to come.
Tourer
Joined: Dec 2007
Posts: 374
Likes: 0
From: nampa, idaho
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Ultimate HDF Member
Joined: Aug 2007
Posts: 9,486
Likes: 4
From: Hico, TX (once home to Billy the Kid)
Lets see it all started in 1903?
Harley has made it through the Great War, the Great Depression, the Second World War, the Korean War, Vietnam, more resessions and financial troubles than anyone here knows about or can remember. And far worse than we see here today.
I'm sure they will be just fine.
We (humans) always seem to think what is happening today is the first time it's ever happened. Not so.
Harley has made it through the Great War, the Great Depression, the Second World War, the Korean War, Vietnam, more resessions and financial troubles than anyone here knows about or can remember. And far worse than we see here today.
I'm sure they will be just fine.
We (humans) always seem to think what is happening today is the first time it's ever happened. Not so.
