Harley-Davidson took its tax cut, closed a factory, and rewarded shareholders

[Mainecat]

Harley-Davidson took its tax cut, closed a factory, and rewarded shareholders Source: vox.com The motorcycle maker in January told Kansas City workers it would close a plant there. Days later, it announced a nearly $700 million stock buyback plan.   By Emily Stewart May 22, 2018, 8:00am EDT  In September 2017, House Speaker Paul Ryan traveled to a Harley-Davidson plant in Menomonee Falls, Wisconsin, to tout the Republican tax bill, which President Trump would sign later that year. “Tax reform can put American manufacturers and American companies like Harley-Davidson on a much better footing to compete in the global economy and keep jobs here in America,” Ryan told workers and company leaders.  Four months later and 500 miles away in Kansas City, Missouri, 800 workers at a Harley-Davidson factory were told they would lose their jobs when the plant closed its doors and shifted operations to a facility in York, Pennsylvania — a net loss of 350 jobs. Workers and union representatives say they didn’t see it coming.  Just days later, the company announced a dividend increase and a stock buyback plan to repurchase 15 million of its shares, valued at about $696 million.  It’s a pattern that’s played out over and over since the tax cuts passed — companies profit, shareholders reap the benefits, and workers get left out. Corporate stock buybacks hit a record $178 billion in the first three months of 2018; average hourly earnings for American workers are up 67 cents over the past year. Harley-Davidson is an American symbol, and President Trump has trotted it out as an example of business success. But as it’s getting its tax cut, it’s outsourcing jobs and paying shareholders.  The tax cuts aren’t saving jobs at Harley-Davidson  .............................. Read more: https://www.vox.com/policy-and-politics/2018/5/22/17350180/harley-davidson-tax-buyback-kansas-city-factory

[GGNHL]

4 minutes ago, Mainecat said:

Harley-Davidson took its tax cut, closed a factory, and rewarded shareholders Source: vox.com The motorcycle maker in January told Kansas City workers it would close a plant there. Days later, it announced a nearly $700 million stock buyback plan.   By Emily Stewart May 22, 2018, 8:00am EDT  In September 2017, House Speaker Paul Ryan traveled to a Harley-Davidson plant in Menomonee Falls, Wisconsin, to tout the Republican tax bill, which President Trump would sign later that year. “Tax reform can put American manufacturers and American companies like Harley-Davidson on a much better footing to compete in the global economy and keep jobs here in America,” Ryan told workers and company leaders.  Four months later and 500 miles away in Kansas City, Missouri, 800 workers at a Harley-Davidson factory were told they would lose their jobs when the plant closed its doors and shifted operations to a facility in York, Pennsylvania — a net loss of 350 jobs. Workers and union representatives say they didn’t see it coming.  Just days later, the company announced a dividend increase and a stock buyback plan to repurchase 15 million of its shares, valued at about $696 million.  It’s a pattern that’s played out over and over since the tax cuts passed — companies profit, shareholders reap the benefits, and workers get left out. Corporate stock buybacks hit a record $178 billion in the first three months of 2018; average hourly earnings for American workers are up 67 cents over the past year. Harley-Davidson is an American symbol, and President Trump has trotted it out as an example of business success. But as it’s getting its tax cut, it’s outsourcing jobs and paying shareholders.  The tax cuts aren’t saving jobs at Harley-Davidson  .............................. Read more: https://www.vox.com/policy-and-politics/2018/5/22/17350180/harley-davidson-tax-buyback-kansas-city-factory

 

But yet your 401k that is invested in HD stock continues to do well. Every company is now putting stock price and shareholders over workers and everything else unfortunately..

 

[Snoslinger]

oh well, at least some 401ks improved...

[xtralettucetomatoe580]

37 minutes ago, Mainecat said:

Harley-Davidson took its tax cut, closed a factory, and rewarded shareholders Source: vox.com The motorcycle maker in January told Kansas City workers it would close a plant there. Days later, it announced a nearly $700 million stock buyback plan.   By Emily Stewart May 22, 2018, 8:00am EDT  In September 2017, House Speaker Paul Ryan traveled to a Harley-Davidson plant in Menomonee Falls, Wisconsin, to tout the Republican tax bill, which President Trump would sign later that year. “Tax reform can put American manufacturers and American companies like Harley-Davidson on a much better footing to compete in the global economy and keep jobs here in America,” Ryan told workers and company leaders.  Four months later and 500 miles away in Kansas City, Missouri, 800 workers at a Harley-Davidson factory were told they would lose their jobs when the plant closed its doors and shifted operations to a facility in York, Pennsylvania — a net loss of 350 jobs. Workers and union representatives say they didn’t see it coming.  Just days later, the company announced a dividend increase and a stock buyback plan to repurchase 15 million of its shares, valued at about $696 million.  It’s a pattern that’s played out over and over since the tax cuts passed — companies profit, shareholders reap the benefits, and workers get left out. Corporate stock buybacks hit a record $178 billion in the first three months of 2018; average hourly earnings for American workers are up 67 cents over the past year. Harley-Davidson is an American symbol, and President Trump has trotted it out as an example of business success. But as it’s getting its tax cut, it’s outsourcing jobs and paying shareholders.  The tax cuts aren’t saving jobs at Harley-Davidson  .............................. Read more: https://www.vox.com/policy-and-politics/2018/5/22/17350180/harley-davidson-tax-buyback-kansas-city-factory

So shifted jobs to another plant in the US probably better tooled for work in the 21st century. That is the tax breaks fault how? Should a company not seek to increase efficiencies just because they have more money coming in? Or should they just continue status quo? Harley has been an industry leader in agile thinking. It’s what brought them back from the brink. They close a poor performing plant and open another. Welcome to the real world. What is the wage of the new plant worker compared to the old? What supply chain efficiencies are gained? What is the truth more than a punch line that is not correlated to tax breaks? 

Here are the facts. Net loss of 350 jobs in a company that employs thousands. Large Cap x expenditure in Penn. Able to boost earnings. Able to better tool for demand and ensure solvency in the future. Sit down Abe. 

[Anler]

Fucking harleys are getting up around and over $40,000. Fucking stupid. 

[Dave]

1 minute ago, Nazipigdog said:

Fucking harleys are getting up around and over $40,000. Fucking stupid. 

I was thinking of getting one eventually again....some good deals on ones 5 or so yrs old with low miles. 

[Anler]

Just now, DAVE said:

I was thinking of getting one eventually again....some good deals on ones 5 or so yrs old with low miles. 

Buy a used one for sure. Some of my buds have been picking up real nice ones for under $10k. No way I would pay that kind of money for a new one. 

[Edmo]

Tell us MC, what does a company do when sales are down?

Harley-Davidson sales decline continues

By Andrew Tangel

Published: Jan 30, 2018 8:24 am ET

 

 

 

 

 

Harley-Davidson Inc. on Tuesday reported its fourth straight year of declining sales as the Milwaukee motorcycle maker struggles to get more riders on Hogs.

Harley's motorcycle-related revenue fell 6.8% in 2017 to $4.92 billion, as retail sales continued to suffer in the U.S. and around the globe. Analysts polled by Thomson Reuters had expected revenue of $4.88 billion.

 

 

[Dave]

1 minute ago, Nazipigdog said:

Buy a used one for sure. Some of my buds have been picking up real nice ones for under $10k. No way I would pay that kind of money for a new one. 

The essential mods are usually done as well most times. Just a little personal preference mods to be good.

[snoughnut]

17 minutes ago, Nazipigdog said:

Fucking harleys are getting up around and over $40,000. Fucking stupid. 

All the old guys with money are dropping dead and sales are tanking, I don't think millenials are interested in overpriced bikes.

[steve from amherst]

4 minutes ago, snoughnut said:

All the old guys with money are dropping dead and sales are tanking, I don't think millenials are interested in overpriced bikes.

That's exactly why their sales are declineng

[motonoggin]

4 minutes ago, snoughnut said:

All the old guys with money are dropping dead and sales are tanking, I don't think millenials are interested in overpriced bikes.

Fuck no they aren't interested. 

I'm sure people will blame millennials for killing Harley Davidson though.

[Ez ryder]

could it have anything to do with the fact no one wants 192os  tec for 2018 prices any more? could they be closing a plant because they have more holdovers than cat poo and doo combined ? was it the correct decision for them to .make? I say yes 100%

now go build a  bike some one under 50 wants 

[hwytohell]

Some are still wondering why they can't have a Studebaker or Packard in the driveway or grab a cold (d)etoilet  brewed  Stroh's  beer from their  Norge or Kelvinator  fridge.  

[BOHICA]

Riding bikes sucks these days...  when the economy was in the shitter and people weren’t clogging up the roads motorcycles were fun.  Plus you use to be able to drink and ride without worry about getting taken out by somebody doing a Facebook live of them driving and talking about there day to there phones.  If I was to do biking all over again I’m pretty sure I would be on a street glide with the tunes cranked and the pipes obnoxiously loud.

[steve from amherst]

2 minutes ago, BOHICA said:

Riding bikes sucks these days...  when the economy was in the shitter and people weren’t clogging up the roads motorcycles were fun.  Plus you use to be able to drink and ride without worry about getting taken out by somebody doing a Facebook live of them driving and talking about there day to there phones.  If I was to do biking all over again I’m pretty sure I would be on a street glide with the tunes cranked and the pipes obnoxiously loud.

My pipes are obnoxiously loud. Wife still dosnt want to go after seeing some dumb ass cross the center line and take out a bike on a weekly basis.

[Frostynuts]

Maybe that,s why bikers are being run over, for those super loud pipes, since the cops don,t seem to have the balls to fine all the douche bags that have those loud pipes that everyone except the bike owner hate. LOL  And I kinda laugh at all those brave bikers that think riding an inch away from the center line is being macho. All they need to do is meet a sleepy transport driver that just happens to wander over the line by six inches or so, and bye, bye tough biker. 

[BOHICA]

My softail night train was stupid loud....  I’m sure the neighbors were happy to see that bike go bye.  Any sort of 2 wheel riding on the roads become not enjoyable with the invention of smart phones.

[Dave]

Just now, BOHICA said:

My softail night train was stupid loud....  I’m sure the neighbors were happy to see that bike go bye.  Any sort of 2 wheel riding on the roads become not enjoyable with the invention of smart phones.

What exhaust?

[washedupmxer]

Geeze I can see why you have to really protect seniors from scammer's.... they'll believe anything

[Dave]

2 minutes ago, Frostynuts said:

Maybe that,s why bikers are being run over, for those super loud pipes, since the cops don,t seem to have the balls to fine all the douche bags that have those loud pipes that everyone except the bike owner hate. LOL  And I kinda laugh at all those brave bikers that think riding an inch away from the center line is being macho. All they need to do is meet a sleepy transport driver that just happens to wander over the line by six inches or so, and bye, bye tough biker. 

I hug the line when I see a douchebag doing that. Fucking idiots.

[Rod]

Lol MC just mad and dumb 

[Zambroski]

Harley Davidson.  I just don’t see the appeal.  

Ahhh....to each their/there/they’re own I guess.

[ArcticCrusher]

59 minutes ago, Nazipigdog said:

Buy a used one for sure. Some of my buds have been picking up real nice ones for under $10k. No way I would pay that kind of money for a new one. 

Ballers don't buy used.

[Zambroski]

1 minute ago, Rod Johnson said:

Lol MC just mad and dumb 

Super bingo!