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AVGWarhawk · 11-08-10, 03:19 PM

Restructuring

Harley has not provided details on the additional job losses, but the restructuring objectives are clear.
The company, for example, is on schedule to close its Capitol Drive plant in Wauwatosa in 2010.
It also is closing its Franklin distribution center this year.
"We need to reduce excess capacity and make the necessary changes that will enable us to be more competitive for the long term," Ziemer said.
Harley-Davidson remains focused on its long-term goals as well as getting through the recession, according to Ziemer, who recently announced his retirement effective May 1.
He has been replaced by Keith Wandell, president and chief operating officer at Johnson Controls Inc., an automotive parts supplier.
No company would like having its U.S. sales down nearly 10%, Ziemer said, but Harley is doing "amazingly well" compared with automakers and manufacturers of other big-ticket products.
Harley's overall results were better than expected, according to analysts.
The company did much better than its foreign competitors, including Honda Motor Co., and captured market share, said Robin Diedrich, senior consumer analyst at Edward Jones.
There also were encouraging signs at Harley-Davidson Financial Services, the company's consumer lending arm.
Tom Bergmann, Harley's chief financial officer, said during a conference call that he believes HDFS would be able to meet its funding needs for the year - something that had been questionable.
The company's decision in February to cut its dividend, coupled with a $600 million debt offering and other efforts, should cover the division's need for $1 billion in funding, Bergmann said.
Harley-Davidson Financial Services has toughened its loan-writing standards and collection efforts. Still, its credit losses on retail motorcycle loans widened from a year earlier.
"I expect credit losses to go up throughout 2009 as we look at rising unemployment and falling consumer confidence," Bergmann said.

Harley has laid off quite a few over the past two years. This is a move to survive as a company.

11-08-10, 03:19 PM	#10
AVGWarhawk Lucky Jack Join Date: Jun 2005 Location: In a 1954 Buick. Posts: 28,257 Downloads: 90 Uploads: 0	Restructuring Harley has not provided details on the additional job losses, but the restructuring objectives are clear. The company, for example, is on schedule to close its Capitol Drive plant in Wauwatosa in 2010. It also is closing its Franklin distribution center this year. "We need to reduce excess capacity and make the necessary changes that will enable us to be more competitive for the long term," Ziemer said. Harley-Davidson remains focused on its long-term goals as well as getting through the recession, according to Ziemer, who recently announced his retirement effective May 1. He has been replaced by Keith Wandell, president and chief operating officer at Johnson Controls Inc., an automotive parts supplier. No company would like having its U.S. sales down nearly 10%, Ziemer said, but Harley is doing "amazingly well" compared with automakers and manufacturers of other big-ticket products. Harley's overall results were better than expected, according to analysts. The company did much better than its foreign competitors, including Honda Motor Co., and captured market share, said Robin Diedrich, senior consumer analyst at Edward Jones. There also were encouraging signs at Harley-Davidson Financial Services, the company's consumer lending arm. Tom Bergmann, Harley's chief financial officer, said during a conference call that he believes HDFS would be able to meet its funding needs for the year - something that had been questionable. The company's decision in February to cut its dividend, coupled with a $600 million debt offering and other efforts, should cover the division's need for $1 billion in funding, Bergmann said. Harley-Davidson Financial Services has toughened its loan-writing standards and collection efforts. Still, its credit losses on retail motorcycle loans widened from a year earlier. "I expect credit losses to go up throughout 2009 as we look at rising unemployment and falling consumer confidence," Bergmann said. Harley has laid off quite a few over the past two years. This is a move to survive as a company. __________________ “You're painfully alive in a drugged and dying culture.” ― Richard Yates, Revolutionary Road