General Motors to purchase Morgan Hill bicycle company

http://www.sjbizjournal.us/sanjose/s...1/daily75.html

Car giant takes stake in bicycle industry, acquiring Specialized
Bicycles

General Motors has announced the acquisition of Specialized Bicycle
Components. The boards of directors of both companies approved the
acquisition on Friday. The acquisition is expected to be completed in
the third quarter of 2008 pending regulatory approval in the US,
Canada and Europe. Terms of the all-share acquisition from Specialized
Founder and President Mike Sinyard and Merida of Taiwan were not
disclosed.

The deal does not include GM acquiring any of the 19 Specialized
Concept Stores, a retail formula launched in 2006. All Specialized
Concept Stores are independently owned.

"In light of global concerns about climate change, GM has been at the
forefront in developing new transportation choices that limit our
impact on the environment," said Flora Lopi, GM's vice president,
Environment, Energy and Safety Policy. "GM's engineering, marketing
and distribution expertise combined with Specialized's branding among
cycling enthusiasts make this a winning combination for GM investors
and consumers."

Specialized founder and president Mike Sinyard said, "All of us here
at Specialized are thrilled to be a part of GM. While Specialized
remains committed to independent bicycle dealers, our products will
also now be available across the nation in GM dealerships. Specialized
will never be available through mass merchants. The acquisition by GM
will enhance the service to the specialty retail channel, increase
investments in dedicated merchandising programs, introduce sales
efforts in mainstream outlets, support advocacy and the activity of
cycling, invest and expand in Europe and, most important, bolster an
already strong research and development budget."

GM Chairman and CEO Rick Wagoner said, "We're starting our second
century at a time of fundamental change in the way we address our
transportation needs. In addition to our leadership role in developing
the next generation of more sustainable technologies in hybrid and
alternative fuel engines, we'll leverage the unique synergies of the
bicycle community to introduce some of our ideas for addressing
critical issues concerning energy, the environment and globalization."

Sinyard is contracted to stay on through until the end of March 2009.
Robert Kruse, currently executive director of Vehicle Integration,
Safety, Regional Chief Engineers and Performance Division for GM's
North America engineering staff will work alongside Sinyard. No other
management changes have been announced. Kruse is an enthusiastic road
cyclist, having three times ridden RAGBRAI, the annual bike ride
across Iowa.

General Motors Corp is the world's largest automaker. Founded in 1908,
GM has 274,000 employees worldwide. With global headquarters in
Detroit, GM manufactures cars and trucks in 35 countries. In 2006,
nearly 9.1 million GM cars and trucks were sold globally under the
following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden,
HUMMER, Opel, Pontiac, Saab, Saturn, Vauxhall and Wuling.

Specialized Bicycles, founded by Mike Sinyard in Morgan Hill, CA, in
1974, designs and manufactures a complete line of high-performance
bicycles and components, including the first production mountain bike,
which now resides in the Smithsonian Institute, and its Body Geometry
line of medically proven cycling accessories. Specialized is a company
of devout cyclists whose goal is to create cutting edge, functional
and technically advanced products that provide a performance benefit
for the enthusiast cyclist.



**** And people were upset when GT got sold. ****

On Mar 31, 10:39 pm, wrote:
http://www.sjbizjournal.us/sanjose/s...1/daily75.html

Car giant takes stake in bicycle industry, acquiring Specialized
Bicycles

General Motors has announced the acquisition of Specialized Bicycle
Components. The boards of directors of both companies approved the
acquisition on Friday. The acquisition is expected to be completed in
the third quarter of 2008 pending regulatory approval in the US,
Canada and Europe. Terms of the all-share acquisition from Specialized
Founder and President Mike Sinyard and Merida of Taiwan were not
disclosed.

The deal does not include GM acquiring any of the 19 Specialized
Concept Stores, a retail formula launched in 2006. All Specialized
Concept Stores are independently owned.

"In light of global concerns about climate change, GM has been at the
forefront in developing new transportation choices that limit our
impact on the environment," said Flora Lopi, GM's vice president,
Environment, Energy and Safety Policy. "GM's engineering, marketing
and distribution expertise combined with Specialized's branding among
cycling enthusiasts make this a winning combination for GM investors
and consumers."

Specialized founder and president Mike Sinyard said, "All of us here
at Specialized are thrilled to be a part of GM. While Specialized
remains committed to independent bicycle dealers, our products will
also now be available across the nation in GM dealerships. Specialized
will never be available through mass merchants. The acquisition by GM
will enhance the service to the specialty retail channel, increase
investments in dedicated merchandising programs, introduce sales
efforts in mainstream outlets, support advocacy and the activity of
cycling, invest and expand in Europe and, most important, bolster an
already strong research and development budget."

GM Chairman and CEO Rick Wagoner said, "We're starting our second
century at a time of fundamental change in the way we address our
transportation needs. In addition to our leadership role in developing
the next generation of more sustainable technologies in hybrid and
alternative fuel engines, we'll leverage the unique synergies of the
bicycle community to introduce some of our ideas for addressing
critical issues concerning energy, the environment and globalization."

Sinyard is contracted to stay on through until the end of March 2009.
Robert Kruse, currently executive director of Vehicle Integration,
Safety, Regional Chief Engineers and Performance Division for GM's
North America engineering staff will work alongside Sinyard. No other
management changes have been announced. Kruse is an enthusiastic road
cyclist, having three times ridden RAGBRAI, the annual bike ride
across Iowa.

General Motors Corp is the world's largest automaker. Founded in 1908,
GM has 274,000 employees worldwide. With global headquarters in
Detroit, GM manufactures cars and trucks in 35 countries. In 2006,
nearly 9.1 million GM cars and trucks were sold globally under the
following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden,
HUMMER, Opel, Pontiac, Saab, Saturn, Vauxhall and Wuling.

Specialized Bicycles, founded by Mike Sinyard in Morgan Hill, CA, in
1974, designs and manufactures a complete line of high-performance
bicycles and components, including the first production mountain bike,
which now resides in the Smithsonian Institute, and its Body Geometry
line of medically proven cycling accessories. Specialized is a company
of devout cyclists whose goal is to create cutting edge, functional
and technically advanced products that provide a performance benefit
for the enthusiast cyclist.

**** And people were upset when GT got sold. ****

I'm suspicious now, an April Fool's joke one day early?

wrote:
On Mar 31, 10:39 pm, wrote:
http://www.sjbizjournal.us/sanjose/s...1/daily75.html

Car giant takes stake in bicycle industry, acquiring Specialized
Bicycles

General Motors has announced the acquisition of Specialized Bicycle
Components. The boards of directors of both companies approved the
acquisition on Friday. The acquisition is expected to be completed in
the third quarter of 2008 pending regulatory approval in the US,
Canada and Europe. Terms of the all-share acquisition from Specialized
Founder and President Mike Sinyard and Merida of Taiwan were not
disclosed.

The deal does not include GM acquiring any of the 19 Specialized
Concept Stores, a retail formula launched in 2006. All Specialized
Concept Stores are independently owned.

"In light of global concerns about climate change, GM has been at the
forefront in developing new transportation choices that limit our
impact on the environment," said Flora Lopi, GM's vice president,
Environment, Energy and Safety Policy. "GM's engineering, marketing
and distribution expertise combined with Specialized's branding among
cycling enthusiasts make this a winning combination for GM investors
and consumers."

Specialized founder and president Mike Sinyard said, "All of us here
at Specialized are thrilled to be a part of GM. While Specialized
remains committed to independent bicycle dealers, our products will
also now be available across the nation in GM dealerships. Specialized
will never be available through mass merchants. The acquisition by GM
will enhance the service to the specialty retail channel, increase
investments in dedicated merchandising programs, introduce sales
efforts in mainstream outlets, support advocacy and the activity of
cycling, invest and expand in Europe and, most important, bolster an
already strong research and development budget."

GM Chairman and CEO Rick Wagoner said, "We're starting our second
century at a time of fundamental change in the way we address our
transportation needs. In addition to our leadership role in developing
the next generation of more sustainable technologies in hybrid and
alternative fuel engines, we'll leverage the unique synergies of the
bicycle community to introduce some of our ideas for addressing
critical issues concerning energy, the environment and globalization."

Sinyard is contracted to stay on through until the end of March 2009.
Robert Kruse, currently executive director of Vehicle Integration,
Safety, Regional Chief Engineers and Performance Division for GM's
North America engineering staff will work alongside Sinyard. No other
management changes have been announced. Kruse is an enthusiastic road
cyclist, having three times ridden RAGBRAI, the annual bike ride
across Iowa.

General Motors Corp is the world's largest automaker. Founded in 1908,
GM has 274,000 employees worldwide. With global headquarters in
Detroit, GM manufactures cars and trucks in 35 countries. In 2006,
nearly 9.1 million GM cars and trucks were sold globally under the
following brands: Buick, Cadillac, Chevrolet, GMC, GM Daewoo, Holden,
HUMMER, Opel, Pontiac, Saab, Saturn, Vauxhall and Wuling.

Specialized Bicycles, founded by Mike Sinyard in Morgan Hill, CA, in
1974, designs and manufactures a complete line of high-performance
bicycles and components, including the first production mountain bike,
which now resides in the Smithsonian Institute, and its Body Geometry
line of medically proven cycling accessories. Specialized is a company
of devout cyclists whose goal is to create cutting edge, functional
and technically advanced products that provide a performance benefit
for the enthusiast cyclist.

**** And people were upset when GT got sold. ****

I'm suspicious now, an April Fool's joke one day early?

Just spin I am sure. I went to the NYC auto show last week with a buddy.
The place was filled with personal aircraft carriers. GM had some
mammoth "car" spinning around on a turntable and they were taking
questions. We asked if they thought it was irresponsible to promote big
fluffed up trucks for personal transportation.

We got the spin answer that GM was investing in "alternative fuels" and
that the cost of them will be $1/gallon.