$6.9 Million worth of Hay for IronHorse
The story continues over who will end up taking the reins of embattled American IronHorse Motorcycles. Will it be Scott Meyers or the founder of American IronHorse Bill Rucker or possibly someone else riding off into the sunset with IronHorse? Meyers was the first to pitch a $6.7 million bid which was set by the federal bankruptcy court in May. Rucker followed shortly after with a motion to buy the company for $6.9 million. Both men, Meyers (former president of Alliant Techsystems and multiple Ironhorse Dealership owner) and Rucker (founder of IronHorse and forced out in 03′, operates Rucker Performance-a motorcycle maker and auto customizer) have the drive and or ego’s as well as the money to throw around it seems. For us the question(s) seem to be, 1) do they have the skills/talent etc to turn this company around in a down economy when even H-D is downsizing production and staff? 2) What will become of those owners who have one (or multiple) of IronHorse’s bikes sitting in their garage? IronHorse, which now has eight employees, had a work force of 450 in 2005 when sales peaked at $100 million. Whoever wins will surely get a lot of interest from owners, along with dealers, (who have approximately 750) and Textron Corp (who is the companies main lender) with 400.
