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

[riversedge]

Source: vox.com



The motorcycle maker in January told Kansas City workers it would close a plant there. Days later, it announced a nearly $700 million stock buyback plan.

By Emily Stewart May 22, 2018, 8:00am EDT




In September 2017, House Speaker Paul Ryan traveled to a Harley-Davidson plant in Menomonee Falls, Wisconsin, to tout the Republican tax bill, which President Trump would sign later that year. “Tax reform can put American manufacturers and American companies like Harley-Davidson on a much better footing to compete in the global economy and keep jobs here in America,” Ryan told workers and company leaders.

Four months later and 500 miles away in Kansas City, Missouri, 800 workers at a Harley-Davidson factory were told they would lose their jobs when the plant closed its doors and shifted operations to a facility in York, Pennsylvania — a net loss of 350 jobs. Workers and union representatives say they didn’t see it coming.

Just days later, the company announced a dividend increase and a stock buyback plan to repurchase 15 million of its shares, valued at about $696 million.

It’s a pattern that’s played out over and over since the tax cuts passed — companies profit, shareholders reap the benefits, and workers get left out. Corporate stock buybacks hit a record $178 billion in the first three months of 2018; average hourly earnings for American workers are up 67 cents over the past year. Harley-Davidson is an American symbol, and President Trump has trotted it out as an example of business success. But as it’s getting its tax cut, it’s outsourcing jobs and paying shareholders.
The tax cuts aren’t saving jobs at Harley-Davidson
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Read more: https://www.vox.com/policy-and-politics/2018/5/22/17350180/harley-davidson-tax-buyback-kansas-city-factory

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President Donald Trump and Vice President Mike Pence walk together to greet Harley-Davidson executives on the South Lawn of the White House in February 2017. Drew Angerer/Getty Images

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[riversedge]

1. TRump also met and bragged to Harley...........

.................
It wasn’t just Ryan who made promises to Harley-Davidson. Trump in February 2017 met with Harley-Davidson executives and union representatives at the White House. He thanked the company for building in America and predicted its operations would grow.

“I think you’re going to even expand — I know your business is now doing very well, and there’s a lot of spirit right now in the country that you weren’t having so much in the last number of months that you have right now,” Trump said. He added that impending changes to “taxing policies,” health care, tariffs, and trade would only make things better...

[beachbum bob]

2. normal republican business practice and a great source of material to run against all republican

candidates this November

not rocket science how to frame the narrative, just democrats really suck at going at it effectively. We won't win if we think we can do with niceities...only

[Fred Sanders]

26. Corruption. Corruption and more corruption is the #1

issue. The massive tax fraud was just another form of corruption.

The mass media will never say "lie" and never say "corruption", because these words are apparently not to be said by the freest of presses in the land of the free speech.

America has the best free speech! Except it doesn't.

[True Dough]

3. MAGA!

The art of the shill!

[Achilleaze]

4. standard republican screw-the-taxpayer move

repubes have totally twisted "ethics" and are morally unfit.

[Fred Sanders]

27. And standard propaganda to announce workers "bonuses"

which are mass reported by the mass media, and then the loss of 350 JOBS, NO BONUSES at all is a mere media footnote.

Corporate media in America is a joke even more so after their Iraq debacle. I thought they would have learned...not at all.

[Botany]

5. And how many of those Harley workers voted for Trump?

Because they had to stop Hillary and her "liberal agenda."

[In_The_Wind]

6. My ride is a 1800 cc Honda Goldwing.

Trike

[Sailor65x1]

8. 18cc?

Man that's a slow bike!

[In_The_Wind]

10. whoops ... 1800 cc ... Need More Coffee this morning!

thanks

[OriginalGeek]

16. 1782 cc's of coffee, STAT!

[elcaja]

7. Harley DavidSAN

Not only did they keep the tax cut money, close an American factory but Harley is building a factory in Thailand. Seems that Chinese steel is cheaper in Asia and the demand is great for the American iconic bike. MAGA indeed!

[IronLionZion]

9. Do people still buy many Harleys?

They may have had a temporary resurgence with appearance in popular TV shows like Sons of Anarchy and movies. But when people look for quality and value, they have many better options: Indian Scout, Yamaha V-star, and options from Honda and Triumph and others.

[Sunlei]

17. yes they do and huge trade in the older Harleys. people collect them

[FSogol]

18. No, their sales in the US are way down. Millennials don't ride motorcycles & HD's customer base

is aging out. That's why they are more interested in expanding to Asia than keeping plants here open.

[jmowreader]

19. They don't ride THOSE motorcycles

Millennials like motorcycles, but not dad bikes like Harleys and Indians. The millennials’ choice is the fully faired sport bike, and they tend to stay small - 650cc is huge to these guys.

[IronLionZion]

24. Yup, and women rarely ride Harleys or other cruisers

the few women who ride tend to use sport bikes.

[jmowreader]

28. I remember when the Fayetteville NC police changed to BMW

A lot of Real Americans (TM) were writing to the paper demanding the removal of the police chief for getting rid of the All American Harley police bikes. The chief had five justifications for doing it, and the biggest one was his officers: most of the cops he'd consider putting on motorcycles are too small to safely engage in a high-speed pursuit on a 700-pound motorcycle.

[Liberalhammer]

22. The key demographic

Is deplorable, middle aged to older white men who make on average 80,000 a year.

[not fooled]

11. Not a bug

a feature.

GOPeePee tax scam working exactly as intended.

[riversedge]

13. Unfortuately, you are correct.

[Solly Mack]

20. Yep

[elmac]

12. make ameriKa great again

ride a Harley

[Bengus81]

14. And peeps in KC and Missouri pull a lever for ANY and ALL Republicans--especially Trump

Nearly a 20 point diff between Trump and Clinton in Missouri. They made their fucking bed,now sleep in it--if the house doesn't get a visit from the repo guy.

Reminds me of the idiots in Kansas--now BITCHING about Trump and crop tariffs. Awww to bad.

[muntrv]

15. Sen. McCaskill should be all over this one in her campaign ads.

[Maxheader]

21. Most common words heard by the GAO over the next decade..

"oh!..We didn't see that coming!"

[Ray Bruns]

23. All I have to say is

Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha Ha.

There is an old saying that goes, "If a con man is talking, and you can't tell who the mark is, YOU'RE THE MARK."

[duforsure]

25. That's trump and the Republicans

Tax scam , completely the opposite of what he claimed it was, again. They lied.