HOT NEWS – May 15, 2006
May 15, 2006
Filed under News
H-D, S&S reach resolution
Harley-Davidson Motor Company Group, Inc. and S&S Cycle, Inc. have resolved litigation between the two companies that had been pending in the United States District Court for the Eastern District of Wisconsin.
In March 2005, Harley-Davidson filed a complaint against S&S alleging various acts of patent and trademark infringement. The companies recently reached an amicable resolution to the litigation that involved re-design by S&S of crankcases and oiling systems and a re-write of S&S product descriptions referencing Harley-Davidson’s trademarks.
May is motorcycle awareness month
May is Motorcycle Awareness Month, and the American Motorcyclist Association (AMA) has announced the release of three new public service announcements (PSAs).
The 15-second PSAs remind motorists to watch for motorcycles, caution motorcyclists against combining alcohol and riding, and convey the message that excessive noise poses risks to motorcyclists’ right to ride. The PSAs are intended for free distribution to radio stations nationwide and feature the voice of AMA Life Member Colter Rule.
The new PSAs are available for download in the “Rights Resources” section of the AMA’s Web site — www.amadirectlink.com/legisltn/resources.asp.
Kawasaki Sponsors WMA Series
Kawasaki Motors Corp., U.S.A. serves as presenting sponsor of the 2006 Women’s Motocross Association, Inc. (WMA) Championship, the six-race Hitachi AMA/WMA National Motocross Championship that began May 13 at Glen Helen Raceway in San Bernardino, Calif.
Kawasaki will be involved in the WMA Nationals and will have a presence at all six races.
WMA is an Oregon-based company dedicated to the promotion and development of women’s motocross with an emphasis on the promotion of women’s professional motocross and creating opportunities for women professional racers.
“Kawasaki’s commitment to women in motorcycling matches the WMAs,” said WMA President Miki Keller.
“The WMA race series is a unique opportunity for girls and women to take their riding and racing skills to the highest level,” said Kawasaki Public Relations Manager Jan Plessner.
UTI Reduces Forecast
Universal Technical Institute, Inc. (UTI), a provider of technical education training, said it expects revenue for the second quarter ended March 31, to be approximately $88-$89 million and reduced its revenue outlook for the fiscal year ending Sept. 30.
Excluding equity-based compensation expense, UTI anticipates its net income margin for the quarter to range from 9.5 percent to 10 percent. Including equity-based compensation expense, the net income margin is forecast in the range of 8.5 percent to 9 percent.
UTI officials say external and internal factors continue to negatively impact the company’s ability to recruit, show and retain students according to plan.
Specifically, recruitment efforts and student starts in the southern region lag the prior year due to the lingering hurricane impact and the recovery efforts in the south. Officials say a strong labor market across the country coupled with affordability concerns because of climbing interest rates and increased gas prices have made it more challenging and expensive to recruit and start students.
Christini Taps Funding
Christini Technologies Inc., a pioneer in the design and development of proprietary all-wheel drive systems for motorcycles and bicycles, recently obtained $3 million through a round of equity financing led by Matthew Trattner, president of Tradewise LLC, a group of Wall Street investors, including Vincent Viola, former NYMEX Chairman.
CTI’s AWD motorcycle technology features a durable rigid series of shafts and gears to power the front wheel. The proprietary AWD system is entirely enclosed within the frame and head tube of the motorcycle, resulting in less than 1 percent power loss while adding less than 15 pounds to the motorcycle.
Pennsylvania-based CTI was founded by Steve Christini in 1999 and previously received funding from Philadelphia Angel investment groups and Ben Franklin Technology Partners of Southeastern PA.
The recent round of financing gives Trattner active involvement in CTI’s promotional and development activities and gives him a seat on the company’s board of directors.
Christini said the new funding will be focused on the production launch of the company’s AWD motorcycle, scheduled to be available this fall.
KYMCO Seeks Partners
Taiwan’s Kwang Yang Motor Co. (KYMCO) is seeking business partners for a variety of worldwide initiatives.
Company officials say they are seeking regional agents to cover Pakistan, Czech Republic and Slovak Republic, distributors in China and Indonesia, and joint-venture partners in India and countries in Southeast Asia and South America.
KYMCO products are imported and distributed in the United States exclusively by KYMCO USA.
Italy Sales Climb 11.3%
For the first quarter, ended March 31, sales of motorcycles and scooters in Italy increased 11.3 percent compared to the first three months of 2005. Sales of 50cc units during the first three months of the year totaled 26,726 vehicles, up 4.7 percent compared to the 25,524 vehicles sold last year.
Together, motorcycles, scooters and 50cc units accounted for first quarter sales of 140,853 units, up 30 percent compared to the same three-month period in 2005. psb