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Jul. 21, 2008 – Finance Digest

July 21, 2008
Filed under Features

PowerSports F&I Conference adds keynote speakers
The PowerSports F&I Conference 2008 has announced its keynote speakers for the event, which will be held Sept. 16-17 at the Paris Las Vegas Hotel.
The keynote speakers will be Todd Baldwin, general sales manager of Chaparrel Motorsports, and two officials from Bert’s Mega Mall, Steve Koniarsky, general sales manager, and Jonathan Kyle, finance director.
Topics to be included at the conference include “How to Get Funding,” “Internet Utilization & Telephone Technique”; “Service Contract & Menus”; “Compliance” and “After-Sales & Technology.”
For more information about the conference, visit powersports-fi.com/ or call 800/576-8788.


Warn parent company president retires
Dover Corp., which owns Warn Industries and Performance Motorsports among others, has promoted Robert Livingston to president and chief operating officer, effective July 1, the company said in a press release June 19.
Ronald Hoffman, who previously served as president and CEO, has retired.
Livingston previously served as vice president of Dover and CEO for its Engineered Systems segment. His new responsibilities will encompass oversight of Dover’s four business segments, which include Industrial Products, Engineered Systems, Fluid Management and Electronic Technologies. He will manage the company’s continuing efforts to achieve operational excellence while driving the process to capture synergy opportunities within the company.


ARI adds to its board of directors
ARI, a provider of technology-enabled business solutions, announced P. Lee Poseidon has been appointed to its board of directors.
Poseidon will serve until the company’s annual meeting in December, at which time he will be subject to election by the shareholders.
“Lee’s broad and deep experience in the automotive industry, including providing electronic parts catalogs and dealer business management software systems as well as managing the industry’s premier dealer association, will be an important asset as ARI enters its next phase of profitable growth,” Brian Dearing, chairman of the board, said in a press release.
Poseidon’s recent business experience includes COO roles at Quorum Information Technologies and the National?Automotive Dealers Association’s dealership operations unit.


Arctic Cat CEO made 20 percent less than in 2007
Arctic Cat CEO and President Christopher Twomey made $1.28 million in total compensation during fiscal 2008, which ended in March. The compensation is a 20 percent decrease from 2007, according to an article in the Minneapolis St. Paul Business Journal.
The company’s board of directors paid Twomey a higher base salary than last year. He received $533,250 in fiscal 2008, up $16,050 from the year prior. Twomey’s option awards also increased from $684,632 in 2007 to $720,057 this year.
After receiving an incentive plan award of $304,587 last year, Twomey did not receive any compensation in fiscal 2008. The incentives are based on the company’s ability to meet its annual earnings goal.


Viper motorcycle announces new CFO Posey
In paperwork filed with the Securities and Exchange Commission, Viper Powersports revealed its chief financial officer has resigned.
The form, filed June 20, stated Peter Anton had resigned his position as CFO for Viper Powersports. On the same day, Viper appointed Jerome Posey CFO. Posey had previously served as the company’s CFO before Anton’s short term.
Anton had joined the company earlier this year. Before going to Viper, he was CFO for Big Dog Motorcycles and had 10 years of experience in the custom motorcycle industry.

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