EBR Sale Scheduled

[mriulvr]

That does seem to be VERY good news and I would think would make EBR more attractive to other buyers.

 

[stamen]

Keeps getting more and more interesting. What if Harley buys them again?!? lol

 

[BambamXB12r]

As bad as that would be in my opinion it's better than the Hero rumor.

 

[Hughlysses]

Here's confirmation of this story by a reliable US media source:

http://www.jsonline.com/business/buell-auction-rescheduled-for-aug-5-b99545931z1-318861161.html

This link is to a more-complete version of the Hero letter and press release:

http://www.moneycontrol.com/mccode/news/article/article_pdf.php?autono=2189221&num=0

Let's hope we get some REALLY good news next Thursday (or maybe earlier?).

 

[mrlogix]

still a fuckery though. It is better to have Hero out of the picture, but Erik still got screwed. If Hero would have paid like they were supposed to for the 49% of EBR and the engineering services. Erik wouldn't be in this position to begin with. Still don't trust them.

 

[mrlogix]

if I had my guess, Hero scrambled to find a way to purchase the rights unencumbered to the engineering developement that EBR did for their HX250 and 650 to keep another company from purchasing them under the receivership auction.

 

[GregoXB]

In a statement, Hero said: "As per the settlement agreement, HMCL Americas Inc. has agreed to acquire the ownership of certain tangible and intangible assets of (Erik Buell Racing) free and clear of all encumbrances, for a consideration of $2.8 million.

"Intangible assests". Sounds to me like they want the EBR team to finish up the design of their hastur. Obviously those curry eating dot heads don't have the brains to finish it themselves. They want the brain power from EBR with no strings attached.

 

[Hughlysses]

Another news story on the subject this morning; Hero says they have no interest in the remainder of EBR now that they've made an agreement to buy the info on the Hero projects EBR was working on:

http://www.livemint.com/Companies/5...-not-bid-to-buy-out-bankrupt-partner-EBR.html

That sounds like a good thing to me.

 

[mrlogix]

Not saying that Hero out of the picture is a bad thing, just they should have held up their end of the original deal. They defaulted on the $20M.

 

[Baal]

So, Hero pinches EBR financially, forcing them into receivership, then pilfers the assets they want for pennies on the dollar?

Jagoffs.

 

[BambamXB12r]

Jagoffs...
That's putting it nicely

 

[Gloomshadow]

I don't know... WOULD Harley buy it as it stands now? The panic is over that caused them to sell it... and Buell did good things for Harley on the projects they gave him. HD seems to be trying to go liquid cooled and make bikes for the coming generations and overseas sales... IS IT a crazy Idea that Harley could be interested again?? Maybe not.

 

[mrlogix]

If you were Erik and knowing the way the breakup went down, would you be willing to work with Harley?

 

[Gloomshadow]

if you got bought , you got bought.. wouldn't be any choice, you would have to go with the money flow.. or check out!

 

[heagachongoose]

......the suspense is killing me....

 

[thrstrmech]

sale starts tomorrow, Hero has made a deal to only buy the designs EBR had / was doing for them....EBR sale is still a whole package. fingers crossed all goes well and back in business soon.

 

[heagachongoose]

I say they get bought by some random completely unrelated company.

$5 says Wal-Mart throws down a stack of cash and takes home the goodies lol

 

[ReadyXB]

Would love to see someone like Elon Musk partnering with Erik.

 

[mriulvr]

Hopefully someone with the cash to do it right, the vision to see the potential of EBR, and the wisdom to recognize Erik's engineering genius who can help him run a business.

 

[BambamXB12r]

In my opinion someone who can run a business for him while letting him work his engineering magic on the bikes.