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So does hiding 2 Billion in debt.
ba dum tis
No way they survive, 3b in debt? If they sell 300,000 bikes a year (which I don't think they do) that is $10,000 debt per each bike sold. Who the fuck ran up this kind of debt, and what exactly for? The whole $60m headquarters in Kalifornia seems exceptionally stupid now, along with TBI electric start 125s, poor warranty service on street bikes, buying MV, buying bicycle brands, etc.. Nuts
So the CNC'd drawer liners for every tool made and air conditioned 2k sq ft indoor mobile work shops were too far?
Who could have scene that coming?
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Anton Wass will buy them!
I know a lot of manufacturers have come and gone in the last 50 years - any this big? Seems almost incomprehensible. Damn they own the amateur mini bike scene - what would that look like if they went away - Cobra would be king for sure in the 50s. Kawi and Yammy show above that 🤔
I’ll be shocked if they’re at A1
So the hospitality truck was a bad purchase?
I like how you guys are picking apart a few million + dollar purchases here and there. you don’t rack up 2.9 billion in debt because you built a nice shop and aquired a tractor trailer. The fuck up is much larger than that.
I waiting for somebody to say they could have saved $2.9 billion by retiring DeCoster!
It’s not like the 2+billion debt was racked up after the bad purchases. They were making bad decisions when they knew they already were in debt. Arrogance and greed.
Red Bull is a privately held company and doesn’t have to report financials, so I’m betting that you are pulling any inferred numbers out of your ass.
If I were Suzuki I’d buy Ktm. Bring back the 380 in an 08 rm chassis with brembo brakes. But if frogs had wings they’d get bird pussy I guess.
Who needs wings!
Almost spit my beer out😂
I still would love to see just how much in bonuses Pierer and the other major executives have paid themselves in bonuses over the last 18-24 months. Something tells me that at least a portion of the higher debt load could be because of something along those lines…….
Pierer can’t be a stupid guy. He had to know as well as anyone that the Covid ‘boom’ of sales was not going to last long term, but that he could leverage that increase to borrow more than he normally could. Then pay out the ‘extra’ cash in executive compensation so that when reality returns and insolvency occurs, there are some nice 10+ digit golden parachutes awaiting for a lucky few….!
So I believe the answer is yes?
Ktm fanboys can get intense. Werent they talking about buying Suzuki?
Pit Row
Will the Bakers Factory survive?
Don't waste your beer!
I'm guessing they went all chips in to the MotoGP project. That couldn't have been cheap to start up something that big and keep up with the constant evolution/innovation
Ready to Race. Haha.
Someone will buy the factory and ktm name at a price that makes business sense and continue production. Gasgas went out of business, but you can still buy the bikes Gasgas made with a different name. I would imagine the Gasgas and husky names are dead or won’t be updated ever.
Rider salaries may go down a decent amount because of this. The group of guys in their early 30s (Anderson, Barcia, Stewart, maybe Roczen) will probably have to retire after this season.
I know it’s not gonna happen but it’s a good dream lol
3billion. Creditors are gonna lose a big chunk. of that. It's clearly possible to trade your way into that mess... but not out.
The brand and assets will be sold for whatever they can get. Get yer wallets out, you can soon buy a rotten orange for a few greenbacks.
There has to be more to this story, total lack of governance by the board and banks.
I remember being a Suzuki owner.
Karma is a bitch boys.
Nobody is saying that is the reason, they are pointing out examples of drunk sailor spending habits of this company. What you do with a dollar you do with a hundred, if you are willing to waste one million you are willing to waste a billion.
It was the KTM napkins in the lunch room that did it!!!
Certainty one for the ages. I only have 2 questions. How was he able to hide that much debt and where did all the money go that was not on the books.
I suspect it had something to do with all the acquisitions that made no sense to us.
https://www.investopedia.com/terms/e/enron.asp
Yeah you’d be looking at about a 40% reduction in available factory SX rides. Bidding for those places is going to def put downward pressure on COMP packages. I’m guessing more private CR22 like teams would surface and as stated older guys retiring.
I am the most worried about the local dealers esp those not diversified with other brands.
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