Fiordifrutta on Schwinns?
Interesting thing on Velonews:
Dorel Industries has bought Cannondale Bicycle Corporation, the corporation announced Monday.
Dorel (www.dorel.com), headquartered in Montréal, owns Pacific Cycles, the parent company of Schwinn, GT and Mongoose. The purchase is reported as an all-cash transaction valued between $190 million and $200 million.
CRAP.
Here’s why:
1. I was planning on opening an Etrade account today for the sole purpose of purchasing Cannondale stock. As it was recently trading at four cents ($.04) a share. Now it’s at ten cents a share.
2. Josh Lipka will be riding a Schwinn.
3. I’m sort of thinking that Cannondales are going to start sucking? I don’t know…but being owned by a company that owns such prestigious brands as Roadmaster doesn’t bode well.
I’m willing to bet in a year or two we will be saying byebye to “Handmade in the USA” emblazoned on every blank surface of a Cannondale frame.
On the other hand, this could possibly keep Cannondale from disappearing.
And to think, if I had only $200 million, I could have owned my own bike company.
supposedly Pacific is going to have two different divisions one being the low end walmart stuff, and the other being the high end IDB stuff. not too sure but some of the recent GT offerings are pretty damn decent. time will only tell which way it will go.
My guess is they’ll emblazen, “Made in America” because technically Canada is (North) America.
Enjoy NC. Go west, young man! Asheville is sweet. Sorry I’ll be missing you.
I hope the Cannondales remain a high quality ride, but I imagine the Pacific Bikes company will look to make OPEX cuts any where they can. Unfortunately, this will probably result in the Super Six being renamed the Super Sux.
Teddie, what do you have going on that weekend? Oh, that other race over there in Cali. I’m sure this NC race will be so much better. Also, you won’t have me next to you on the West Coast to yell obnoxiously and propel you to victory. Please say hi to Jens for me.
Well, one more bike company down the crapper…