Originally Posted by Ozrider

Paramount is still around, it just has a different name: Waterford. Waterford Cycles are owned by Richard Schwinn, the only member of the family still making bikes.

They are made in Waterford, Wisconsin, just south of Milwaukee. They are great bikes, comparable to a Mercxx or Orbea.

I don't know the whole story, but when the Schwinn family lost the company, Richard Schwinn somehow ended up with Paramount. It is probably an urban legend, but the story in Wisconsin goes that when the company was sold, Richard Schwinn walked out of the Chicago HQ with all of the designs and plans for high end bikes. I believe he is the son of the last CEO.

For some reason, Schwinn was required to change the name from Paramount to Wateford. I think Pacific bought the name or something from the previous owners.

Nonetheless, there is still a Schwinn making tremendous bikes. Check out their website. I recommend these bikes highly.