Cycle Update – Conseco files for protection
January 1, 2003
Filed under Features
Conseco, Inc., Carmel, Ind., Dec. 17 filed for protection from its creditors under Chapter 11 of the federal bankruptcy law. The move had been expected for some time.
Not included in the filing was Mill Creek Bank, the nation’s fourth largest private label credit card issuer, with nearly $3 billion in assets. Mill Creek Servicing Corp., a subsidiary of the bank, is a leading provider of full-service lending programs and credit support to powersports dealers and manufacturers, among other industries.
The bank, which was renamed in August, is a subsidiary of Conseco Finance Corp. In a prepared statement, Conseco said it has reached agreement to sell Conseco Finance to CFN Investment Holdings.
Suomy helmet plans explained
Gearbox International, the importer of Suomy helmets, has announced the formation of Suomy USA to coordinate distribution, marketing, race sponsorship and advertising of the helmet line in the U.S. Hap Jones Distributing will distribute the helmets in the western states from its Tracy, Calif., warehouse, and the Great Lakes area from its Ohio warehouse. Romaha Distributors of Huntingdon Valley, Pa., will handle eastern distribution. Gearbox International will continue to service its dealers directly. The move is effective October, 2002. Gearbox International, 950 Gilman St., #800, Berkeley, Calif., 94710; 800/799-9444.
KTM is ISO 9001 CERTIFIed
KTM Sportmotorcycle USA, Inc. has been certified ISO 9001: 2000 compliant Quality Management System KTM-Sportmotorcycles AG, the parent company/factory in Austria was certified in October 1995.
Kryptonite Adds Managers
Kryptonite, a brand in Ingersoll-Rand’s Security and Safety Americas Sector portable security business unit, has hired several new employees. Tom Fowler becomes Action Sports Strategic Business Manager SBU. He will be responsible for the bicycle, powersports, snowsports and any additional action sports initiatives from Kryptonite.
Reporting to Fowler are Kryptonite veterans Don Warren, category manager, Action Sports, who has been promoted from product manager; James Adamson account manager/distributor sales; Chris Fallon, sales account manager; Eric Lightbody, account manager/international sales and Gustavo Marquevich, international account manager. Mary Woodhouse joins the Action Sports team as product manager.