Skip to comments.China poised to take over U.S. Huffy bikes
Posted on 06/28/2005 5:07:18 PM PDT by Fitzcarraldo
NEW YORK, June 28 (Reuters) - Chinese suppliers and an agent of China's government are poised to take control of Huffy Corp. (HUFCQ.PK: Quote, Profile, Research) , a venerable U.S. brand name, as the bicycle maker restructures under bankruptcy protection, it said on Tuesday.
Huffy, making bikes for Americans for more than a century, said it had agreed to a reorganization plan which would allow it to terminate its staff pension plans. The company would turn responsibility for the benefits over to the Pension Benefit Guaranty Corp., a unit of the federal government that insures pension plans.
(Excerpt) Read more at reuters.com ...
Get ready fellow Americans; in 10-30 years your most prized possessions may be a rice bowl and a bicycle.
2) China buys Huffy, makes the bikes for a pittance and sells them at high prices to Americans, then,
3) China bankrupts the Americans, then has Americans build bikes for a pittance and sells them to oil-rich countries, etc.
Let's see...that's Unocal, Maytag and Huffy Corp. within a few days?
If they can win the war without firing a shot, so much the better. Don't want to damage a perfectly good Ameriucan slave labor force of the future. Very Sun Tzu.
We're doomed. No more Huffy bikes.
Our government is in the pension business too, huh?
If knew that Huffy still made bikes I would have never bought my Trek 5200.
At least I know my bike was Made in the USA!
Maybe the Chinese would take over the pension plans of acquired companies later; it would be nice to know we'd have a hole to squat over in our old age.
First Schwinn, now Huffy?
How are we going to restore the value of the dollar, get a surplus in our balance of trade, if we dont have any american companies left to make things here that people in other countries want to buy?
What are we going to make/produce in sufficient volume here in america? How many things left are actually "Made in USA"?
I think the Chinese plan is to bring back "Made in the USA" in a big way...
How is it that we can fix the pensions of companies that are bankrupt but we can't fix the social security plan? How can we pay United pilot owners their pensions with federal tax money and deny boomer's the money that was promised them?
More good news.
When is it Harley Davidsons turn to go?
5200 is a great bike. Why did you choose this over the Madone 5.9? I am thinking about a Orbea Onix.
Neither Huffy nor Schwinn has built an American made bicycle for many years. Most are made in the same factory that Trek and Giant use to make their lower level bikes. On the other hand most of the custom higher level bikes are made here in the USA.
my first couple of bikes were huffys. of course, they were outsourced to england. ironically, i believe raleigh bikes fell to the chinese a couple of years back...
i'll stick to my klein mantra... *great* going up hills
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