Archive for May 3rd, 2009

Harley’s Top Financial Executive Departs

May 3, 2009

IMPORTANT  UPDATE: Tim Conder, analyst with Wachovia Capital Markets LLC, said today (5/4/2009) that Tom Bergmann, James McCaslin and Ronald Hutchinson were all internal candidates for the president/CEO position of Harley-Davidson, Inc., filled by Keith Wandell from Johnson Controls.

At the same time, Conder says Wandell seems to be a good choice to head the company. “(Wandell) appears very solid,” says Conder, adding that “Wandell’s primary adjustment from Johnson Controls to Harley will be an effective transition from an industrial to a consumer focused company.”

He also notes that Wandell is  developing both short-term and long-term strategic plans for Harley, and  has already publicly mentioned opportunities in the sport bike segment in the U.S. and internationally. JD

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Thomas Bergmann, CFO and Head of Finance Arm, Leaves
May 1 Was Moving Day for Several Other Executives at HOG

Thomas E. Bergmann, the top financial officer for Harley-Davidson, Inc., left the company April 30 to look at other career opportunities, the company said Friday. The announcement, made after the stock market closed, also included changes in the responsibilities for several other executives.

Bergmann was Harley’s CFO and also had been acting president for the company’s financial arm, Harley-Davidson Financial Services (HDFS).

“We wish to thank Tom for his many contributions to our business and wish him well in his future endeavors,” said Keith Wandell, Harley’s new president and CEO, who joined the company April 6.

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SBA Expands Loan Eligibility

May 3, 2009

Company’s Net Worth Less than $8.5 million? You May Qualify
More than 70,000 Additional Businesses May Be Eligible

Powersports dealers and manufacturers may have a new friend in the finance business, based upon word from the Small Business Administration Friday.

The SBA says it’s expanding the criteria for small businesses that may qualify for its largest lending program. The SBA’s announcement specifically notes that more than 70,000 additional firms—including auto and RV dealerships and suppliers— could be eligible as a result of the changes.

Automotive News has reported on its website that the program includes loans up to $2 million.

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