H/D loan bailout

[CasterTroy]

http://motorcycledaily.com/25november09_hdcreditarm.htm

The struggling Goliath that is Harley-Davidson took a spoonful of government-aid elixir on November 23rd. A group of investors are using $562 million in TALF-which stands for Term Asset-Backed Securities Loan Facility, if that helps you at all-funding to underwrite a huge bond deal. The bond terms vary between one and three years and are backed by the Federal program.

H-D's flagging profits have been further diminished by the blows dealt to HDFS, Harley's financing arm (which has been hit hard by the recession and has already borrowed money at very high interest rates from private investors). TALF makes H-D bonds attractive and carry a low interest rate, because the funds are backed by the Federal Reserve bank. That money should be used to finance motorcycle purchases and, hopefully, spur the Motor Company into solid black ink again.


In other H-D news, subsidiary MV Agusta-up for sale-will be brokered by Italian investment firm BNP Paribas. Despite the exotic-bike maker's new model releases, it's still hemorrhaging money. When it does sell, it'll probably go for a lot less money than the $109 million H-D paid for it in July of 2008

OK I have to ask: If 1/2 the kids in the US will be on food stamps....and 1/2 the companies suckin at the gov teet for funds......where's this money coming from?

Nancy? (Pelosi) PLEASE save us all