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Harley-Davidson cut jobs, repurchased shares after tax cut

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posted on May, 22 2018 @ 03:15 PM
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How's the trickling down going? I guess I've dropped a penny or two in my lifetime while walking to the to the grocery store. I suppose that's wealth trickling down in action.


House Speaker Paul Ryan, R-Wis., in September used a Harley-Davidson plant in Menomonee Falls, Wisconsin, as a backdrop for touting the GOP tax measure signed by President Donald Trump late last year, Vox relayed. And Mr. Trump met with Harley-Davidson executives and union representatives at the White House in February, saying the company's business would only get better.

Four months after Ryan's appearance at the Harley-Davidson factory in his home state, 800 workers in Kansas City, Missouri, were told they'd be out of jobs when their plant closes in 2019 and operations shift to York, Pennsylvania, resulting in a net loss of 350 jobs.

Only days after the Kansas City layoff news, Harley-Davidson announced a dividend hike and stock buyback plan worth about $696 million.

The Kansas City plant's closure came as Harley-Davidson is struggling with declining sales and rising costs. It's also consolidating operations at three other factories.

www.cbsnews.com...

Oh it gets worse. Reports are, Harley Davidson plans to move their factory to Bangkok, Thailand:



As with Wells Fargo and Carrier, we're once again learning that trickle down economics is a sham and the American people are paying for it. But hey who cares right? So long as you got your $1500 tax return you're fine for the year right? You can finally buy that Apple computer you always wanted! Meanwhile more jobs are lost, more folks are left unemployed, healthcare cuts continue, costs increase. On the light side you'd be contributed to the economy I guess by spending that tax cut... which is good.... unless that money falls right back into debt?





posted on May, 22 2018 @ 03:17 PM
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Harley Davidson is so close to bankruptcy that nothing is likely to save them. They're desperate Pick another example.



posted on May, 22 2018 @ 03:18 PM
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more taxes create more wealth

for someone

what a world we live in where people are begging for higher taxes, totally clueless, TOTALLY



posted on May, 22 2018 @ 03:18 PM
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a reply to: schuyler




They're desperate Pick another example.
Gibson ...



posted on May, 22 2018 @ 03:20 PM
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a reply to: the2ofusr1

please do a point by point presentation with actual data how higher taxes would have made that business more profitable?

holy crap

everybody needs to keep this in mind while voting this year, these people want to run your government and part of their party platform is to literally raise taxes

do not vote blue
edit on 22-5-2018 by toysforadults because: (no reason given)



posted on May, 22 2018 @ 03:20 PM
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a reply to: Southern Guardian

There are many factors that correlate to this news.

For starters, as with the car and truck industry, they turned to focus their goals on selling loans over quality motorcycles. Another is that millennials aren't buying HD's and has seen this trend coming for quite awhile. Lastly is the competition. New entries into the market and other companies putting out machines that can compete with what HD is offering.

To set this all on partisan shoulders would be a foolish assumption.



posted on May, 22 2018 @ 03:23 PM
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R.I.P. Harley.
They are going to lose a huge portion of their customers if they move from the U.S.



posted on May, 22 2018 @ 03:30 PM
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What are they supposed to do, build bikes and stock them in warehouses till people start buying them and go bankrupt?

To me this just shows that American companies are still suffering because of imports, which Trump actually has not done anything to fix.



posted on May, 22 2018 @ 03:36 PM
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a reply to: Southern Guardian

You're making a blanket statement based on one company that's looking at failure whether the tax cut happened or not? That's not a very honest appraisal.

If you want to look for reasons, look to declining sales, local taxes and union demands for the cause. The move is going to save them 65-70 million a year. They would be dumb to not do that. Of course the unions and the media will play this for all it's worth for partisan reasons.



posted on May, 22 2018 @ 03:38 PM
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originally posted by: rickymouse
What are they supposed to do, build bikes and stock them in warehouses till people start buying them and go bankrupt?

To me this just shows that American companies are still suffering because of imports, which Trump actually has not done anything to fix.


What's he supposed to do, slap tariffs on imports to make them artificially expensive? That's exactly what we hate when other countries do that to US products. If you want an answer, read your first sentence. Harley is not making products US citizens want to buy. Whose problem is that? Trump's? Harley is courting bankruptcy because they are still living in the fifties. They refuse to change, therefore they will die. That's not Trump's fault.



posted on May, 22 2018 @ 03:38 PM
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a reply to: toysforadults

Calm down , I am Canadian and we have our own problems . Oh and at the moment its the Liberals



posted on May, 22 2018 @ 03:39 PM
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originally posted by: JinMI
Lastly is the competition. New entries into the market and other companies putting out machines that can compete with what HD is offering.



not saying youre wrong but can you link me?
the big comp for harley is indian and was victory. victory is gone



posted on May, 22 2018 @ 03:39 PM
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a reply to: Southern Guardian

Not that I Know ALL the specifics, but I remember hearing that HD sales were down due to boomers (their #1 clientele) getting too old to ride and millenials not wanting to buy either.

Cutting production is a biz move.



posted on May, 22 2018 @ 03:40 PM
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a reply to: skunkape23

They are not moving out, they are doing both things. I doubt the bikes assembled from American made parts oversea's will be sold here. I'd imagine they have to do that to compete considering the tariffs they pay to sell in other countries.



posted on May, 22 2018 @ 03:40 PM
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Trickle down sure as heck beats giving it away to a bunch of millionaires whom have no ethics, no sense on how to spend money much less how to budget. It is pretty clear to most Americans according to the polls that they are better off now than with the previous admin, hard for some to admit but facts are fact and fan fiction is still fiction



posted on May, 22 2018 @ 03:43 PM
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a reply to: schuyler

in what ways did they refuse to change?

they added the street line as of 2014. first new line in like 15 years
more choices on the sportster
newer bike to the softail line
the milwaukee 8 engine

what kind of changes are you talking about?

cost and financing stuff?



posted on May, 22 2018 @ 03:45 PM
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a reply to: TinySickTears

Indian

A couple of days ago we reported on the somewhat gloomy news from Harley-Davidson about its year-end financial statement, in which it announced a downturn in sales and the upcoming closure of its Kansas City, MO, factory.

Meanwhile, Polaris (parent company of Indian Motorcycles and Slingshots) is painting a rosier picture with its financial statement released this week. Overall sales revenue in 2017 was up from $4.516 billion to $5.428 billion. Motorcycle sales made up 11% of Polaris’ sales income, and they were up 7% for the year (excluding Victory).



posted on May, 22 2018 @ 03:48 PM
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Liberal Logic - every company in the entire country has to be successful and add jobs or tax cuts are a failure.
Hey OP, there are 30million businesses in the USA. Can you make a start on a thread for each, please?

edit on 22/5/2018 by UKTruth because: (no reason given)



posted on May, 22 2018 @ 03:48 PM
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Harley has been struggling for years, "mostly because they make overpriced junk" so what does the tax cut have to do with it?



posted on May, 22 2018 @ 03:50 PM
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a reply to: schuyler

But I like Harleys...then again I was born in the fifties that Harley is still living in.







 
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