dirtsqueezer
07-25-01, 06:15 PM
http://www.interbike.com/01_2001/2001_07/2001_07_25_7069.htm
Very interesting reading.
Very interesting reading.
General Cycling Discussion - Fallout from Schwinn Bankruptcy
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riderx
07-25-01, 10:27 PM
Exactly how did Schwinn get into such a mess? It boggles the mind.
JonR
07-25-01, 11:47 PM
Originally posted by riderx
Exactly how did Schwinn get into such a mess? It boggles the mind.
As one who had to go through the (Chapter 13) bankruptcy process, let me assure you: nothing could be easier than to get into such a mess. :blush:
Exactly how did Schwinn get into such a mess? It boggles the mind.
As one who had to go through the (Chapter 13) bankruptcy process, let me assure you: nothing could be easier than to get into such a mess. :blush:
orguasch
07-26-01, 06:16 PM
They must have a "top Heavy" management, so if you have a very large and highly paid technocrats doing the job, it will eventually pull down the ship, thats what happen...
mike
07-26-01, 07:39 PM
The amazing thing is the unsecured debt that their vendors allowed Schwinn to ring up!
Schwinn is in the sink to Merida for almost $11,000,000!
For international business, it is amazing that could happen. I would always make sure an amount that big was secured with a letter of credit, first-born-son, or something.
In some regards, we can say that Schwinn's creditors allowed Schwinn enough rope to hang itself - probably killing the creditors as well.
Schwinn is in the sink to Merida for almost $11,000,000!
For international business, it is amazing that could happen. I would always make sure an amount that big was secured with a letter of credit, first-born-son, or something.
In some regards, we can say that Schwinn's creditors allowed Schwinn enough rope to hang itself - probably killing the creditors as well.
Joe Pozer
07-27-01, 01:57 PM
What a mess.
In the article it mentioned that the suppliers may tighten the credit of othe U.S. manufacturers. I wonder if that will take down a few more bike companies.
In the article it mentioned that the suppliers may tighten the credit of othe U.S. manufacturers. I wonder if that will take down a few more bike companies.