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#11
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Performance Goes Chapter 11
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#12
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Performance Goes Chapter 11
On Sun, 18 Nov 2018 14:12:57 -0800, sltom992 wrote:
On Sunday, November 18, 2018 at 1:51:47 PM UTC-8, jbeattie wrote: Oh well: https://www.bicycleretailer.com/indu.../15/ase-owner- performance-bicycle-and-asi-file-chapter-11#.W_HVJ-hKjIU -- Jay Beattie. Lately every time I've been in there I've been rather surprised at the sheer amount of bicycles they had for sale. That is the standard bike store around here. The difference is the amount of junk on the wall. I've watched several local bike shops go out of business because they stocked too many bikes and no one is buying bikes except off of the Internet. I have four REALLY good bikes well equipped for more than good prices and I've on sold one bike in the last two years. When you can get a new CF bike for a good price why should you settle for a used and proven bike? Like Nashbar it would have been a good idea for Performance to invest more heavily into components and accessories and less into bike sales since this sales problem has been around for five or six years. Do people in general work on their bicycles? I think those that do are "the odd freak". AFAIU, most people have long viewed a bicycle as a disposible toy that they buy for the kids and for themselves for fitness, although go to a gym seems to be where that are has gone. When we had kids in the street, I was doing puncture repairs for the local kids because 'dad can't fix it' or it was too expensive to take to the local bike shop. otherwise, in the local blocks, there are two adults with something other than wally-mart style bicycle. |
#13
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Performance Goes Chapter 11
On 11/18/2018 1:51 PM, jbeattie wrote:
Oh well: https://www.bicycleretailer.com/indu...1#.W_HVJ-hKjIU -- Jay Beattie. They closed their Redwood City store many years ago, then cut the size of their Mountain View store in half. Sad news. |
#14
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Performance Goes Chapter 11
On 11/18/2018 4:13 PM, jbeattie wrote:
On Sunday, November 18, 2018 at 4:06:57 PM UTC-8, Andre Jute wrote: On Sunday, November 18, 2018 at 10:57:48 PM UTC, Sepp Ruf wrote: jbeattie wrote: Oh well: https://www.bicycleretailer.com/indu...1#.W_HVJ-hKjIU What else did you expect? It's still the same CEO who clumsily mismanaged his side of the Cafe Roubaix PR debacle AND eg he is married to a lawyer politician Democrat: https://www.bicycleretailer.com/industry-news/2018/11/07/races-interest-bike-world-dean-wins-and-nothstein-loses-pennsylvania Poor woman. Four counts against her in a single sentence: married to a loser, herself a Democrat, lawyer and politician. What else could go wrong for her? She could live next door to you in Ireland. -- Jay Beattie. Jay, you win the Internet for today. |
#15
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Performance Goes Chapter 11
On Sunday, November 18, 2018 at 4:08:49 PM UTC-8, wrote:
On Sunday, November 18, 2018 at 2:16:16 PM UTC-8, wrote: On Sunday, November 18, 2018 at 4:12:59 PM UTC-6, wrote: On Sunday, November 18, 2018 at 1:51:47 PM UTC-8, jbeattie wrote: Oh well: https://www.bicycleretailer.com/indu...1#.W_HVJ-hKjIU -- Jay Beattie. Lately every time I've been in there I've been rather surprised at the sheer amount of bicycles they had for sale. I've watched several local bike shops go out of business because they stocked too many bikes and no one is buying bikes except off of the Internet. I have four REALLY good bikes well equipped for more than good prices and I've on sold one bike in the last two years. When you can get a new CF bike for a good price why should you settle for a used and proven bike? Like Nashbar it would have been a good idea for Performance to invest more heavily into components and accessories and less into bike sales since this sales problem has been around for five or six years. Apparently you do not know that Performance bought out Nashbar 10-15-20 years ago. Performance and Nashbar are the same company. Kind of like Ford/Mercury/Lincoln are the same company. Apparently I do know, but why would you think that makes the slightest bit of difference? The drag on the mother company isn't from Nashbar but of Performance. Hard to tell what role Nashbar played, but it declared bankruptcy, too. I looked up the bankruptcy docket, and the whole ball of wax is for sale (or will be assuming the motion to sell substantially all assets is approved). I wonder which one of the creditors will end up with Performance, assuming it continues in existence. Fuji is probably the most valuable asset. I think Muzi should make a bid. We can sell them here on RBT. Joerg has one. Maybe we can sell him another. -- Jay Beattie. |
#16
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Performance Goes Chapter 11
On 11/18/2018 5:18 PM, news18 wrote:
snip When we had kids in the street, I was doing puncture repairs for the local kids because 'dad can't fix it' or it was too expensive to take to the local bike shop. I am still that person. |
#17
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Performance Goes Chapter 11
On Monday, November 19, 2018 at 12:13:16 AM UTC, jbeattie wrote:
On Sunday, November 18, 2018 at 4:06:57 PM UTC-8, Andre Jute wrote: On Sunday, November 18, 2018 at 10:57:48 PM UTC, Sepp Ruf wrote: jbeattie wrote: Oh well: https://www.bicycleretailer.com/indu...1#.W_HVJ-hKjIU What else did you expect? It's still the same CEO who clumsily mismanaged his side of the Cafe Roubaix PR debacle AND eg he is married to a lawyer politician Democrat: https://www.bicycleretailer.com/industry-news/2018/11/07/races-interest-bike-world-dean-wins-and-nothstein-loses-pennsylvania Poor woman. Four counts against her in a single sentence: married to a loser, herself a Democrat, lawyer and politician. What else could go wrong for her? She could live next door to you in Ireland. We have a quota for lawyers in my neighbourhood, and it is full. Andre Jute Sorry! |
#18
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Performance Goes Chapter 11
On 11/18/2018 9:02 PM, jbeattie wrote:
On Sunday, November 18, 2018 at 4:08:49 PM UTC-8, wrote: On Sunday, November 18, 2018 at 2:16:16 PM UTC-8, wrote: On Sunday, November 18, 2018 at 4:12:59 PM UTC-6, wrote: On Sunday, November 18, 2018 at 1:51:47 PM UTC-8, jbeattie wrote: Oh well: https://www.bicycleretailer.com/indu...1#.W_HVJ-hKjIU -- Jay Beattie. Lately every time I've been in there I've been rather surprised at the sheer amount of bicycles they had for sale. I've watched several local bike shops go out of business because they stocked too many bikes and no one is buying bikes except off of the Internet. I have four REALLY good bikes well equipped for more than good prices and I've on sold one bike in the last two years. When you can get a new CF bike for a good price why should you settle for a used and proven bike? Like Nashbar it would have been a good idea for Performance to invest more heavily into components and accessories and less into bike sales since this sales problem has been around for five or six years. Apparently you do not know that Performance bought out Nashbar 10-15-20 years ago. Performance and Nashbar are the same company. Kind of like Ford/Mercury/Lincoln are the same company. Apparently I do know, but why would you think that makes the slightest bit of difference? The drag on the mother company isn't from Nashbar but of Performance. Hard to tell what role Nashbar played, but it declared bankruptcy, too. I looked up the bankruptcy docket, and the whole ball of wax is for sale (or will be assuming the motion to sell substantially all assets is approved). I wonder which one of the creditors will end up with Performance, assuming it continues in existence. Fuji is probably the most valuable asset. I think Muzi should make a bid. We can sell them here on RBT. Joerg has one. Maybe we can sell him another. -- Jay Beattie. paraphrasing Mencken, our industry lives on the illusion that one chinese bike is different from another. -- Andrew Muzi www.yellowjersey.org/ Open every day since 1 April, 1971 |
#19
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Performance Goes Chapter 11
On Sunday, November 18, 2018 at 9:53:25 PM UTC-8, sms wrote:
On 11/18/2018 5:18 PM, news18 wrote: snip When we had kids in the street, I was doing puncture repairs for the local kids because 'dad can't fix it' or it was too expensive to take to the local bike shop. I am still that person. Between me and two of my neighbors, we could furnish a pro repair shop. Not a lot of repairs for kids, however -- except my adult son. -- Jay Beattie. |
#20
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Performance Goes Chapter 11
On Sunday, November 18, 2018 at 4:11:27 PM UTC-8, jbeattie wrote:
On Sunday, November 18, 2018 at 2:57:48 PM UTC-8, Sepp Ruf wrote: jbeattie wrote: Oh well: https://www.bicycleretailer.com/indu...1#.W_HVJ-hKjIU What else did you expect? It's still the same CEO who clumsily mismanaged his side of the Cafe Roubaix PR debacle AND eg he is married to a lawyer politician Democrat: https://www.bicycleretailer.com/industry-news/2018/11/07/races-interest-bike-world-dean-wins-and-nothstein-loses-pennsylvania Huh? Specialized was the instigator of the Cafe Roubaix "debacle" and ASI stepped in and pushed back as the licensee of the "Roubaix" trademark. https://www.bikeworldnews.com/2013/1...rms-asi-steps/ ASI tied its future to a rock and then jumped into the water -- and from what I can tell, so did some other creditors who became equity owners of Performance. They obviously thought they could get the bland Performance business model to work, which they couldn't -- maybe because they were under capitalized, Cunnane's complaint in the BRAIN article. I'm not seeing a lot of mismanagement except ASI's failure to police its AR with Performance -- although it probably couldn't cut-off its largest retailer. I suppose buying Performance was its only option to keep Fuji afloat, but I certainly don't know. Anyway, ASI purchased a beaten down, debt-ridden asset and couldn't make it cash flow. Same old same old, minus the casinos. -- Jay Beattie. I think that the business model was flawed when they essentially tied their future to bicycle sales and not the component model of Nashbar. There were enough local Performance stores that all they had to do was provide instant service at competitive prices of components. I stopped buying from Performance when they started selling things like innertubes that were 19-26 mm and 27-32 mm. Though their prices were really good and I would stop in when I was low on tubes and get a handful. |
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