russ69
Backside Slider
Pegram hasn't got the memo yet.
I guess he got the memo, not listed for Imola entry list.
Pegram hasn't got the memo yet.
Just three paragraphs from that article are worth the cost of a Wharton MBA... read and understand this and you'll know everything you need to know about doing business in India (or China).
"...the family-run Hero company balking at paying Honda royalties as specified under contract.
Insiders say that Hero has not paid EBR about $20 million owed for engineering and design work EBR did on 13 new Hero models for the Indian market. EBR bore the expense of the engineering and design work, then ran out of operating capital while waiting to be paid for that work, those insiders said.
Speculation is rampant that Hero delayed payment to force EBR into receivership so it could pay less to acquire the part of the company it didn’t already own."
So I learned something today that explains Erik Buell's decision to put EBR into Wisconsin receivership instead of the more normal Chapter 11 ...
Owners of a company that goes into Wisconsin receivership cannot hold any ownership position in the company once it emerges on the other side. Hero has been effectively blocked from buying EBR.
Hero stiffed EBR on $20 million in debts hoping to force them into bankruptcy and get the other 50.1% of the company for pennies... and in return Erik found a way to go scorched earth on their asses and deny them anything.
^This^Very disappointing to learn how Hero operated.
That would be awesome. I hope Hero gets screwed big time out of this.
http://motorcyclefeed.com/breaking-ebr-restarts-as-wholly-acquired-division-of-hero-6250/
Yeah, that brilliant business move to block Hero from acquiring EBR?