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Still not "snakeoil." I agree his timelines are late but they are actively trying to solve these issues.
Maybe people are sick of the kind of people that are constantly trying to inject social media politics into every thread? Do you have anything to add to the KTM conversation?
PMC owns 60% of GG.. GG in Girona should buy out the 11% from Pierre and keep the trials production going in Spain. At least Spain has energy coming via pipeline from Algeria.. Austria and Germany governments are complete idiots concerning energy costs , the same incompetence as grewson in Ca. The cost of shipping LNG to Europe is expensive. 2 years of inventory as the economy world wide slows is pure arrogance from upper PM management. Fire sale is around the corner.
The Shop
None taken - I think the point JMX82 and I are making is that much of corporate (and political) leadership is a vacuum only populated by people that don't actually produce anything. They are leeches that live of the blood of their labor pool/taxpayer. They are solely interested in how many beans they can collect, without concern for the impact their greed/incompetence has on their subordinates. It appears from the outside that we are seeing exactly this hubris with PMG. The simple fact that they bought the foundry just months ago, KNOWING they were in dire financial straits, only to see it go under less than 6 months later seems to prove our thesis. It's happened over and over again in many industries, big and small. We only care about this instance since it's directly related to our passion for moto. I'm sad for the real working class at KTM, and for us consumers that like their product, that this is happening. After over 10 years and many bikes, I bought my last new KTMs in the 2022 model year. IMHO since then their quality has gone downhill significantly, and now I cannot trust that parts will be available when I need them. Even if they survive this, the product will never be the same again.
Here's the rub. That is the only way they do things. They would never allow it any other way like Bajaj did with Pierer. China would then have the best technology in the world.
Both partners could buy the shooting match if they want to. Right now control is being cock blocked. It's a chess game and the odds are long for Stefan.
The Orange Falling Knife: Part 4 – Atomic-Moto
Thank you.
Here are the others:
The Orange Falling Knife: Part 1 – Atomic-Moto
The Orange Falling Knife: Part 2 – Atomic-Moto
The Orange Falling Knife: Part 3 – Atomic-Moto
The Orange Falling Knife: Part 4 – Atomic-Moto
I don't want to be spammy, should I post the text of each?
BP
Apparently, we've become a society where some people think the phrase "facts of all the value" is philosophically coherent.
Finally a journalist that gets it. I didn't hear him mention anything about a "lifeline" being found. Hhmmm...
Thanks, thoughtful and well written 👍
Great to put things into perspective and show the amazing success PMG has enjoyed as a business in the last 10 years.
IMHO a little bit of "dirt biker bias" forgetting that PMG sells more street bikes than dirt bikes and that MotoGP is used for brand awareness and helps sell bikes, just not dirt bikes.
Also I don't think of bicycles as a red herring as much as a symptom of acquisition fever, did not really make sense and is contributing to the debt (not the main cause but cost of acquisition plus losses didn't help). Here are some numbers for bicycles: they more or less broke even in 2022 (2.5M EBIT) then EBIT turned negative at -47.1M for 2023. Net debt for bicycles was -222.5M in 2023. Then EBIT for H1 2024 was -195M (in 6 months!).
One part that is definitely head scratching to me is reading the financial reports how the risks had been correctly identified and assessed in past years. Hubris I guess.
I don't think you understand what he is saying. You have it 180 degrees ass backwards. He is saying just as I have been and others also the reports do not represent the risk. Why do you think the banksters gave him an unlimited credit card? You seem obsessed on finding something in it where it went bad.
The shitton of red flags where flown by folks in the company and out represented the risk and got dismissed by naysayers.
LOL
While Elon clearly vastly overpromises and under-delivers at times, I think Vivek is the one that was being hit on more directly for being a "snake oil saleman".
Vivek literally made his vast fortune selling an already-established-as-bunk Alzheimers cure that left patients and shareholders behind, while he benefited greatly -- Pretty much in the exact mold of the classic "snake oil" magic health elixir sales scheme.
"Posted from Starlink, my only viable internet option that delivers exactly what it says on the box"
Does it link to the stars?
That's what it says on the box...
Yeah I wasn't referring to Vivek and don't know much about the guy.
I thought you were talking about Boeing!
Well, take a look man, nobody is stopping you.
Pit Row
No, Intel. Wait! Nike?
Guess you are saying don't be part of the labor pool?
No, not really. I’ve always been a part of the labor pool and it’s paid well. Now, even tho I’m in a 40,000+ org, I’m in a position where I have a lot of autonomy, with the authority and the budget to do things the way I feel they should be done. I just never had the balls to go out on my own. Props to those that do.
Dear Vital Oracle, why do you keep doing this to yourself? 500 posts a month is more than enough to assess your reading comprehension, thank you.
I have enjoyed Atomic writing and I'm discussing a minor point of his blog posts about the relative merits of PMG MotoGP and bicycle ventures.
Many focus on MotoGP but as a matter of fact, the debt ran by the bicycle division in 2023 would have been enough to fund the MotoGP effort for 5 years.
I thought that might help put things into perspective.
And of course I would argue that the marketing and R&D benefits of racing MotoGP massively outweigh those of selling bicycles.
Have a nice day.
Thought you were going to go down that whole tired old "oppressed/oppressor" narrative. Good God that gets weak.
Gee, sounds pretty easy to become a billionaire. Have to give my kids the heads up.
First I an asshole because I am wrong, now I am an asshole because I was right…
Same old clown bullshit.
Colonizing Mars is a big one 😂
this has been beat to death. Let me know when rebates come back so I can get a new bike.
I’m just here for the motorcycle stuff…
What isn't real about colonizing Mars? We already have rovers on Mars exploring the surface. We hav e the technology to make it habitable.
The only obstacle is the cost of getting equipment and supplies into space. And SpaceX is well on their way to reducing the cost enough to make the economics viable. It costs NASA and everyone else on the planet $70k per kg of payload. It costs SpaceX $1.5-3k per kg right now. They've already dropped it an order of magnitude. If they drop it below $100 per kg, it's a done deal.
LOL no. I'm from PA too. My old man was a Weatherly coal miner at 12 and my grandpa died of black lung at 68. I don't play the woe-is-me game.
Post a reply to: KTM to file for Bankruptcy/ Self Restructuring on Friday