Huffy's been outbid

[Merwin5_10]

Inside news from the field...

A last minute bid from Pacific Coast has exceeded the $60 million dollar bid from huffy to buy out Gt and Schwinn. Pacific has 10 days to gather the $65 million they offered. If they don't they Huffy deal will proceed as planned.

Never a dull moment in the fickle world of Mountain Bikes.

[HELLTACO]

Murry didn't even wants 'em.

[spincrazy]

Man, I hope anyone but Huffy buys em. Pacific coast huh? Who are they?:confused:

[riderx]

Originally posted by spincrazy
Pacific coast huh? Who are they?:confused: Huffy with a different name. Look for them at your nearest Moron-mart. PC purchasing schwinn is just as bad as Huffy buying them.

[Merwin5_10]

Amen, brother. Between the two,I'd back Huffy any day. At least they'd keep the lines in reputable retail spots instead of raping the two companies for some dough on-line and ruining it all.

We'll have to wait and see.

[LeatherFace]

So I'm a bit unclear--did Schwinn buy out GT and now Huffy is going to buy Schwinn? I love GT--what is the world coming to? I say we take up a collection and buy it ourselves... http://www.contrabandent.com/pez/otn/laughing/yelrotflmao.gif

[Merwin5_10]

sorry, but Huffy bought out (or is trying to buy out) Schwinn AND GT. Both companies have been in the red for many years now. The I-Drive, although a great suspension system, didn't generate the revenue they hoped it would. There's another thread where this is discussed. I think its one of the "I need help" threads. Check it out. You may want to know what's in store for GT. It could affect any warrantiesand the ability ot get GT specific parts for some time.

[Merwin5_10]

P.S. I'll pitch in for the collection. All we need is $66 million. I got at least $20 covered. :D

[The Toninator]

Originally posted by LeatherFace
So I'm a bit unclear--did Schwinn buy out GT and now Huffy is going to buy Schwinn? I love GT--what is the world coming to? I say we take up a collection and buy it ourselves... http://www.contrabandent.com/pez/otn/laughing/yelrotflmao.gif
I think schwinn and gt have been together for a while. It was good because gt has a great product and schwinn knew it and left it alone. I don’t know what huffy will do but I don’t think they would change too much of either product. that would be just down right dumb. If bought, huffy would then have a competitive product in the high end market, but if they messed with it WE would know and then so would everybody else because we cant really keep our mouths shut about such thinks (and we shouldnt.) The best way to show dissatisfaction in a product or company is not to buy it or do business with them and if asked politely tell them why.

[BarbaRosa]

http://www.bouldernews.com/business/07bschw.html
Direct Focus bids for Schwinn
By Matt Branaugh
Camera Business Writer


about the schwinn and boulder chap 11 fire sale

[igjr]

Scott Sports Group bought Schwinn from bankruptcy in '93. Made them profitable and sold them to Questor in 97 or so. Schwinn bikes and Fitness were profitable at that point. Then in Late '98, Questor, under the Schwinn umbrella bought GT. GT looked healthy at the time, but, in reality, was about 1 month from Chapter 7 bankruptcy (ie - shut the doors, cease to exist). Questor payed in the neighborhood of $219 million to purchase GT. Now, Schwinn/GT owes $260 million. Take 219 and charge interest - if you can do math, you see where I'm going. GT is valued at app $4 million today. Bad decision, anyone? This is all fact, 100%.

Bids were due to be turned in yesterday. The judge will hold a competitive auction amongst these bidders on Monday. Only then will we know the fate of Schwinn/GT.