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Old 01-21-2009, 04:40 PM   #11
acecycleins
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Looks like that purchase of MV is working like I expected. Nice move for H-D. All they need to do is buy one more loser and Chapter 13 is in the works.
The arguement that MV is part of a cause and effect situation is weak in this case (even though I know you pointed it out in jest- I hope). It's the Lending arm that is taking the hit because all those unqualified buyers (people with sub 680 credit scores) have defaulted on their 7-8yr loans. Harley had more liberal lending practices than GE Moneybank does. Like I said, they shouldn't get ANY bailout funds they should sell the lienholder to a stronger lender.
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Old 01-21-2009, 05:17 PM   #12
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It's Those Honky Slavemasters Makin A Comeback I Tell Ya! Pretty Soons All Uv Us Plain Folk Be Right Back Where We Started! Playin In Jug Bands And Sleepin In Tater Sacks!
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Old 01-21-2009, 05:34 PM   #13
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Hmmm $13.00 HD stock.
Right now, the only stock I own is in the form of mutual funds. At $13/share, I just might have to buy some of the great HD.

I saw an interview with Warren Buffett (that rich old dude). He said, "When other people are scared, be greedy. And when other people are greedy, be scared." Of course, it's easy to buy up cheap stock when you have millions to play with. But that's a whole other matter altogether.
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Old 01-21-2009, 07:54 PM   #14
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It's Those Honky Slavemasters Makin A Comeback I Tell Ya! Pretty Soons All Uv Us Plain Folk Be Right Back Where We Started! Playin In Jug Bands And Sleepin In Tater Sacks!
You're into the strong brew this evening, aren't you.
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Old 01-22-2009, 05:34 AM   #15
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Yeah well NPR and PBS are asking for $550 million. It's really going to be a treat watching the gov't spend a trillion bucks "wisely" as the Dali suggests.

Someone shoot up a flare when that first gov't program that no longer works gets cut.
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Old 01-22-2009, 05:46 AM   #16
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You are correct. Buying a dying Italian marque was the height of genuis by H-D. I can't think of a better move they could have made at this time.
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Old 01-22-2009, 05:56 AM   #17
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Yeah well NPR and PBS are asking for $550 million. It's really going to be a treat watching the gov't spend a trillion bucks "wisely" as the Dali suggests.

Someone shoot up a flare when that first gov't program that no longer works gets cut.
I read years ago where it was shown that NPR news costs 7 times as much to produce as ABC, CBS, NBC, etc. That's where your tax dollars go. Publicly waaaay over funded commie-prop.
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Old 01-22-2009, 06:24 AM   #18
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Originally Posted by sfcdjevans View Post
Hmmm $13.00 HD stock.

Psst where's this line to get the bail out stuff, I can always use some of that.

The Gov of NY speculated that the total disaster may run 63 trillion, more than the GDP of the planet. How the hell do you do that? Please don't tell me bad housing loans.
Alot of bad bike loans?
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Old 01-22-2009, 06:29 AM   #19
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The arguement that MV is part of a cause and effect situation is weak in this case (even though I know you pointed it out in jest- I hope). It's the Lending arm that is taking the hit because all those unqualified buyers (people with sub 680 credit scores) have defaulted on their 7-8yr loans. Harley had more liberal lending practices than GE Moneybank does. Like I said, they shouldn't get ANY bailout funds they should sell the lienholder to a stronger lender.
Sub 680? Pfff, try sub 600 beacon scores. He's absolutly right though. Customer's with 590 beacons score's go right accross the street from my dealership that we can't get financed, and return with a 25,000.00 Full dresser flxtwrdg deluxe Roadkiller?
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Old 01-22-2009, 06:37 AM   #20
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I'm not saying buying MV was a briliant move. Not if Eaglemark knew they had issues. But if Eaglemark were strong then MV wouldn't look like such a bad deal. Mostly, I chalk that up to bad timing and communication between HD divisions. What could have been a very cool way to expand HD in Europe and MV here will now freeze money needed to correct Eaglemark disaster. That's boneheaded mgmt.
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