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Harley-Davidson took its tax cut, closed a factory, and rewarded shareholders

Harley-Davidson took its tax cut, closed a factory, and rewarded shareholders

Kingchops
6 years ago

A great example of how Trump and Republicans are saving American jobs with their gift to the rich tax cuts. Harley used the money to buy back stock, a tactic that artificially inflates the stock price so executives and stock holders get richer. While at the same time they sent 350 net jobs to Thailand.

I can't blame corporations for making money, that's what they do after all. But I wonder how many of those 350 workers, who just got screwed, voted for Trump.

https://www.cbsnews.com/news/harley-davidson-cut-jobs-repurchased-shares-after-tax-cut

https://www.vox.com/policy-and-politics/2018/5/22/17350180/harley-davidson-tax-buyback-kansas-city-factory

paulybronco
6 years ago

Politicians can only mandate tax cuts but are powerless to tell any company how to spend their savings and in this case HD has done a very smart thing and bought back its own shares at a reduced price. We all need to get it through our thick skulls that NONE of us are indispensable in any industry and a saving is on the cards in everyones industry. A sad reminder of business today

Kingchops
6 years ago

Seriously? Politicians were out selling the tax cuts as job savers. That was a lie, I call that a scam.
Truth is Republicans and many Democrats are in the pockets of big business, they know exactly who the tax cuts would benefit.

B0GN
6 years ago

It doesn’t matter the language, does it? Scam, trick, deceit or smooth business move. What’s being referred to is the fact the pricks gave everyday working folk the impression that THEY were going to be better off. I guess they’re gonna have more time on their hands, that’s about the only benefit. The same bullshit trickle down economics pitch sounds great in the boardroom but they’re not the ones trying to catch the trickle!!

Kingchops
6 years ago

The reason the Harley story got a lot of attention was because of Paul Ryan. Compare his horse-shit about the effect of tax cuts to reality.

Ferrett62
6 years ago

Are these tax cuts the same as our mob want to give companies here, billions in cuts they will probably expect to get back off us with fuck all passed on to employment or growth.

stevo fxsb
6 years ago

This one befuddles me as well! So you take a 14 percent drop in taxes, close another factory and yet the current share price is on par with the 52wk medium?

Current Price US$42.06

52WK High $56.95
52Wk Low $39.34

I can only assume this is done to attract institutional investors, which by price analysis it has yet to do!

One would expect a jump in Market Capitalization [currently Bn$7.10] but there appears to be no evidence of that either??
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Just appears to me that management are more interested in KPi's and cheaper product to market [IE Thailand/India] then the "heart and and Soul" of the product!

The only other brand's I can think of that said "stick it up your arse" are Ferrari, Lamborghini and Aston Martin....that is to the parent shareholders!

To my way of thinking HD 2018 IS TRYING TO BE TO MUCH TO EVERYONE...AS OPPOSED TO BEING SPECIAL TO SOME!

The "some" will rally if the product is right! But Pimply geeks on an 883????? Wouldn't know what a peanut tank was!!!

Kingchops
6 years ago

"But keep the Trump hate going. "

Oh I will. Your poster boy lately was saving jobs in China. Good to see him "making America great again.

Kingchops
6 years ago

I've never watched The Project in my life. But don't let that stop you making associations where they don't exist. That's how things work in your world after all.

Kingchops
6 years ago

I'm not blaming Trump directly for what Harley didn't do (keep jobs in the U.S). The post was about exposing the bullshit right wing myth of trickle down economics. It's a good example of how it doesn't work.

paulybronco
6 years ago

So this was your statement "I can't blame corporations for making money, that's what they do after all. But I wonder how many of those 350 workers, who just got screwed, voted for Trump." And now your claiming you dont blame him? I hope you limbered up before you do a backflip as you may hurt yourself.

Kingchops
6 years ago

Quoting paulybronco on 29 May 2018 07:12 AM
So this was your statement "I can't blame corporations for making money, that's what they do after all. But I wonder how many of those 350 workers, who just got screwed, voted for Trump." And now your claiming you dont blame him? I hope you limbered up before you do a backflip as you may hurt yourself.

No back-flip at all. I don't blame him directly for the Harley outcome. The right wing government which he leads is to blame overall for implementing a policy of trickle down economics through tax cuts to the rich.

Kingchops
6 years ago

Yes, but I don't remember them giving big tax cuts to corporations under the guise of saving American jobs.

paulybronco
6 years ago

And you still don't get that he provided the tax cuts and the factory did the wise thing and took the money and ran........loss of jobs NOTHING to do with him

Kingchops
6 years ago

I'll have a read.

friday
6 years ago

money is power ?
companies make more money than all politicians stacked to the roof . companies tell politicians when to jump and how high .
peasants have almost zero value = consumers and cannon fodder , as history has shown , when unemployment gets to high and the rich start to look like an easy meal , pack up the peasants and send em off to war .
when Raegan was in , HD scored a deal making missiles in exchange for import tarrifs on foriegn bikes .
HD made another deal with another president , importing HDs ? HD workers aint worth a shit . the taiwnese , Indians or who ever makes HDs , theyre the new workers thats all . its all good for Wall st

paulybronco
6 years ago

Quoting friday on 30 May 2018 08:37 AM
money is power ?
companies make more money than all politicians stacked to the roof . companies tell politicians when to jump and how high .
peasants have almost zero value = consumers and cannon fodder , as history has shown , when unemployment gets to high and the rich start to look like an easy meal , pack up the peasants and send em off to war .
when Raegan was in , HD scored a deal making missiles in exchange for import tarrifs on foriegn bikes .
HD made another deal with another president , importing HDs ? HD workers aint worth a shit . the taiwnese , Indians or who ever makes HDs , theyre the new workers thats all . its all good for Wall st

WTF? Where did HD import HD from again......

paulybronco
6 years ago

LOL Was quietly hoping there was an answer to his statement

friday
6 years ago

It wouldnt surprise me if in the future , HD started importing HDs made in asia , to USA with the USA gov paving the way .
with its work force based in asia , either partially or fully .
Raegan slapped on import tarriffs in the 80s at HDs request , theres no reason present or future gov wouldnt make it easy for them to import their own product into the states , again at HDs request and probably cheaper than the competition.

arent those 750s made in india or that direction , if so then theres already a foriegn machine .

the factory closure is being covered on diff HD type forums and folk are mentioning the cheaper asia work force

paulybronco
6 years ago

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