Another one bites the dust,,,,

[Elmer Fudge]

Chinese to buy US bike firm Huffy <br /> <br />BMX biking has polished its image since the sport's early days <br />Huffy, a 115-year-old US bicycle maker and one of the country's best-known brands, looks set to fall into Chinese hands. <br />Huffy is to reorganise, allowing its Chinese suppliers and a firm linked to the Chinese government to raise their shareholding to 51% over five years. <br /><br />Famous for its BMX stunt bikes, Huffy ran into problems after it bought Canada's Gen-X in 2002 and is currently under bankruptcy protection. <br /><br />The agreement "will result in Huffy emerging from bankruptcy later this year", chief executive John Muskovich said. <br /><br />The deal comes at a time when an increasing number of US firms have become takeover targets for Chinese buyers. <br /><br />Outstanding bills <br /><br />Huffy will issue new shares to pay off its debts, and will then give them to suppliers and the China Export & Credit Insurance Corporation. <br /><br />The two creditors, known as the Sinosure Group, will also get debt notes worth a total of $12m (£6.6m). <br /><br /> <br />Huffy wants to turn profits around <br /><br />As part of the rescue plan, Huffy will become a private company and hand over its pension liabilities to the US agency, the Pension Benefit Guaranty Corp. <br /><br />The firm's problems began when it bought Gen-X, which makes bikes and basketball backboards as well as in-line skates, golf clubs and snowboards. <br /><br />Competition in the industry is fierce, however, and Huffy has found the pricing environment harsh, analysts said. <br /><br />More and more US firms have become targets for Chinese companies. <br /><br />Politicians have written to President George W Bush in an effort to block an $18.5bn buyout of US oil company Unocal by China's CNOOC oil group. <br /><br />And last year, Lenovo bought IBM's personal computer business for $1.7bn.

 

[Stratosfied]

Re: Another one bites the dust,,,,

ey ya wa ti shci ehti ohi? <br /><br />This will soon be the venacular, start getting used to it.

 

[kenimpzoom]

Re: Another one bites the dust,,,,

Hmmm, seems the Japanese did the same thing for a while, and we were fine with that.<br /><br />Ken

 

[SoulWinner]

Re: Another one bites the dust,,,,

Ken, When the Japanese were buying into American corps, they were not a Communist enemy who was radically building up their military. China is also buying oil fields, and many other things that give me the willies. When they decide retake Taiwan, we won't be able to stop them. No one will.

 

[Elmer Fudge]

Re: Another one bites the dust,,,,

Originally posted by SoulWinner:<br /> Ken, When the Japanese were buying into American corps, they were not a Communist enemy who was radically building up their military. China is also buying oil fields, and many other things that give me the willies. When they decide retake Taiwan, we won't be able to stop them. No one will.

Taiwan don't bother me much, sooner or later it will fall under their control, its only a matter of time.<br />What bothers me is that China is on a buying spree, they're buying up practically everything that they can lay their hands on, be it weaponary, agriculturical products you name it they're buying it, what becomes problematic is the oil field leases, the oil from those fields are then taken off the market,in doing so China is denying its access eventually to us and other countries.<br />The price for a barrell of crude oil now tops $60.00 and climbing.<br />This strategy now employed by the chinese gov't will be disasterous for America and its allies, of this i have absolutly no doubt.

 

[rwise]

Re: Another one bites the dust,,,,

and it will keep climbing because of china, have you tried to buy anything that was made in the USA lately? Maytag(sp) is up also (or was it whirlpool)and if they get it all plants in the USA will be closed, all they want is the name and reputation.

 

[kenimpzoom]

Re: Another one bites the dust,,,,

First off, I am not a friend of China. They arent very good on human rights or freedom. But...<br /><br />China isnt really communist any more, they just wont come out and admit it.<br /><br />The only problem I have with China is their lack of free press.<br /><br />We critize them for oppression, but we do nearly the same things here in the USA. Remember "red scare".<br /><br />Ken

 

[Elmer Fudge]

Re: Another one bites the dust,,,,

Originally posted by KenImpZoom:<br /> First off, I am not a friend of China. They arent very good on human rights or freedom. But...<br /><br />China isnt really communist any more, they just wont come out and admit it.<br /><br />The only problem I have with China is their lack of free press.<br /><br />We critize them for oppression, but we do nearly the same things here in the USA. Remember "red scare".<br /><br />Ken

Tell that to the people of Tibet.<br /><br />Who do we oppress in the USA?

 

[NYMINUTE]

Re: Another one bites the dust,,,,

yow yankee clock sucker no know how too make a bike wite.

 

[rwise]

Re: Another one bites the dust,,,,

If it says "made in china" I put it back on the shelf!

 

[Vlad D Impeller]

Re: Another one bites the dust,,,,

If we don't wake up in this country, pretty soon even the shelves will be coming from China.

 

[Dave Abrahamson]

Re: Another one bites the dust,,,,

Originally posted by Vlad D Impeller:<br /> If we don't wake up in this country, pretty soon even the shelves will be coming from China.

Look closer...I'm sure they already are. I work for a physical therapy co. and it amazes me to see the plate weights/free weights are made in China....we can't even pour cast iron weights here in the USA??!!! It blows my mind to think it is somehow cheaper to ship WEIGHTS here from China!!! There were foundrys galore where I came from (MA). Are there any left?!<br />Good luck buying anything under 19.99 that was made anywhere but China.<br /><br />Dissapointed Dave

 

[beezee28]

Re: Another one bites the dust,,,,

Economic, gentlemen. It all boils down to the dollars and cents. If you have the money and the company is willing to sell and come out with a profit then that company is going to be sold come h*ll or high water. Either way you look at it, money talks... You might not like it because we are indoctorinated with information that China is bad because they are buying up companys and material etc... What different is it when someone buys a rundown company in Russia. It the buyer than a Communist?? <br /><br />Japan did the same thing to the US way back where they came and bought up a lot of real estate at premium price and the seller have big smiles on their face after signing their property over because they made money... It is the capitalist way of business and where there is demand there will be supply.

 

[NYMINUTE]

Re: Another one bites the dust,,,,

We all need to practice the phrase. " you want fries with that?" and in the South add ya'll. America will be a service oriented country before 2025.

 

[NathanY]

Re: Another one bites the dust,,,,

What are you talking about before 2025? We are a service oriented country. 80% of our industry is service oriented.

 

[Vlad D Impeller]

Re: Another one bites the dust,,,,

Does 80% of our industry serving the orient sounds better to ya?

 

[CntrySngr]

Re: Another one bites the dust,,,,

Originally posted by Elmer Fudge:<br /> Tell that to the people of Tibet.

Amen!

 

[kenimpzoom]

Re: Another one bites the dust,,,,

A really good read that talks about China buying Unocal and why all of the sudden purchases by China.<br /><br /> http://www.rigzone.com/news/article.asp?a_id=23399 <br /><br />Forbes' Richard Lehman, who writes about fixed income added some interesting insight, when he compared China's suddenly aggressive forays into the heartland of U.S. manufacturing. Referring to the recent purchase of IBM's personal computer business by Lenovo, and the recent bid for Maytag, Lehman cited "previous instances of nations with huge foreign exchange reserves deciding they need to do something beside sit on them." <br /><br />First he reminded us of the 1970s, "when the Arabs didn't know what to do with their new-found wealth." In that instance "they decided to put it on deposit with multi-national banks so they could lend it to developing countries to finance their oil imports. The end result was worldwide sovereign debt defaults." Continuing, Lehman reminded us of the 1980s, a time when "Japan decided it couldn't just sit on its reserves and decided instead to invest in golf courses, hotel resorts and signature office properties." Lehman correctly described Japan's move as a "Big mistake." When the real estate bubble burst in Japan, stocks crashed, banks eventually collapsed, and the Japanese economy has been in a recession/depression scenario ever since. <br /><br />Lehman's thoughtful analysis notes the following. "China may have learned from the mistakes of others. They are focused on buying companies with established brand names, leading technology and distribution networks. In short, they may be focused on using their dollar reserves, earned from selling us cheap stuff, to buy our means of production." <br /><br />Continuing he added: "While this is extremely smart on their part, it has serious negative implications for the U.S. and, eventually, for the rest of the world. The current world order for international trade is a game that strongly favors the U.S. We are the engine driving the world economy through our purchase of mainly consumable goods and resources. We pay for these goods and resources with dollar-denominated paper. If our trading partners choose to sit on those dollar reserves or invest them in U.S. Treasury debt, it's a double win for us, since we have really not paid for what we received. If they choose to use those reserves to buy real estate or other hard assets, that is some improvement over holding Treasuries, but is a resource of limited potential." <br /><br /><br />Ken

 

[technostingray]

Re: Another one bites the dust,,,,

Well, it looks like the cool weather is gone and SUMMER is really upon us. We have had three straight days of over 100 temps. Around here if you ask an old timer when it will rain again he will tell you sometime in november. When it gets hotter more people talk about the weather, but nobody ever does anything about it. Nothing is more constant than change, however......

 

[dogsdad]

Re: Another one bites the dust,,,,

Red China may have figured out how to use capitalism aginst us, but they are by no means capitalists. They are communists and they believe in taking the world over.<br /><br />You can take that to the bank.