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...been a grueling few weeks for American companies, but particularly so for Harley-Davidson, purveyor of bikes that easily top $30,000. Last month, the company reported that its fourth-quarter global sales fell 13.1%. Last year, its profits sank nearly 30%. And it's been a wipeout for investors: Harley-Davidson's stock price has plunged nearly 70%, to $11.96 a share in mid-February, from $37.34 a share one year ago. Americans haven't lost reverence for Harley-Davidson, but a key problem is that people are simply less willing to spend money on luxury items. Overall motorbike...
...Responding to the economic crisis, last month Harley said it would cut production of new bikes this year between 10% and 13%. But analysts like Ed Aaron, of RBC Capital Markets in Denver, say that's hardly enough and that the company's sales projections are overly optimistic. In an interview last week, Bergmann, Harley-Davidson's CFO, said that given the company's plans to shed more than 10% of its workforce and close some factories, "I actually think we're going at it the right way. I think Wall Street will eventually appreciate how we're managing...
...angst is also rising for Harley-Davidson dealers like Emily Vindeni, of Glendale, Calif. In a typical month, Vindeni sells about 70 bikes at her shop. In January, however, she sold 42. Vindeni recently cut her staff by 10 people, to 65. She's reduced her inventory and lowered prices on some items. The Sportster is usually one of the slowest-selling models, "the ones we're trying to get rid of at the end of the year," she says. But soon after arriving at her showroom, the Sportster Iron 883 sold out. "They've been saying for a long...
...café called Tory Row is slated to open at the end of the month on Brattle Street in the former home of the Greenhouse Café, which closed nearly two years ago after three decades in the Square. Tory Row will be a full service, 80-seat restaurant with both European and American elements, according to co-owner Matthew W. Curtis. The café’s interior design and menu are still being finalized. Richard Getz, who owns the 3 Brattle St. location, hinted that the restaurant would open near the end of the month, but both...
...Richardson also shared the spotlight as she won the 3000-meter run. She came out on top with a time of 9:30.30 over a heavily favored Princeton quartet. The sophomore provisionally qualified for the NCAA Championships next month and placed fifth on the Harvard all-time top-10 performance list...