Saturday, September 8, 2007
canary in the coal mine
In warning that third quarter shipments and full year 2007 and 2008 earnings would be lower than expected - while withdrawing guidance for 2009 altogether - the company, which has left its tire marks on more than its share of critics and short-sellers, cited "a difficult time for the consumer." Well, duh! Especially in the wake of the credit crunch.
Harley, has long been stuffing its distributors with excessive inventory while sparking sales through its its internal finance operation, which it turn has sold the good, bad and ugly loans via securitization.
Don't be surprised if You See Repos on sale for cheap - competing with lower new bike sales.