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RIDE, YOU FOOLS! General Motors acquires Specialized Bicycles
Posted by: Black Landlord
Date: March 31, 2008 08:22PM
[www.sjbizjournal.us]

Quote

Monday, March 31, 2008 - 13:49 PM PDT
General Motors to purchase Morgan Hill bicycle company
Silicon Valley / San Jose Business Journal

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.
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Re: RIDE, YOU FOOLS! General Motors acquires Specialized Bicycles
Posted by: papercup
Date: March 31, 2008 08:27PM
Not even a very funny April Fools joke.

That link is a .us site, not the real .com site.
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Re: RIDE, YOU FOOLS! General Motors acquires Specialized Bicycles
Posted by: Black Landlord
Date: March 31, 2008 08:33PM
The San Jose Business Journal is an international news agency-- the .us is to differentiate the US site from its foreign conglomerates.
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Re: RIDE, YOU FOOLS! General Motors acquires Specialized Bicycles
Posted by: papercup
Date: March 31, 2008 08:38PM
Can you find that story anywhere on the .com site?

Funny thing, I did a fair amount of product photography for Specialized about a decade ago. Still have the Stumpjumper I was given, too.

Now one of my bigger clients is GM.

I still don't believe it, though.



Edited 2 time(s). Last edit at 03/31/2008 08:40PM by papercup.
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Re: RIDE, YOU FOOLS! General Motors acquires Specialized Bicycles
Posted by: SteveO
Date: March 31, 2008 08:46PM
Hey, this is just like when GM bought out the streetcar and bus companies...and then shuttered them! They're gonna make bikes extinct now so everyone has to take cars! grinning smiley LOL
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Re: RIDE, YOU FOOLS! General Motors acquires Specialized Bicycles
Posted by: Black Landlord
Date: March 31, 2008 08:51PM
Quote
SteveO
Hey, this is just like when GM bought out the streetcar and bus companies...and then shuttered them! They're gonna make bikes extinct now so everyone has to take cars! grinning smiley LOL
As far as I know GM bought up and dismantled the infrastructure, not the vehicle manufacturers.
I'd be more comfortable if Specialized bought G.M. I don't recall Specialized needing a givernment bailout . . .
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Re: RIDE, YOU FOOLS! General Motors acquires Specialized Bicycles
Posted by: M A V I C
Date: March 31, 2008 08:52PM
Quote
SteveO
Hey, this is just like when GM bought out the streetcar and bus companies...and then shuttered them! They're gonna make bikes extinct now so everyone has to take cars! grinning smiley LOL

Not only did they buy the streetcars, but they bought the permits to run them in certain cities so no other company can put them in.




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Re: RIDE, YOU FOOLS! General Motors acquires Specialized Bicycles
Posted by: papercup
Date: March 31, 2008 08:55PM
"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."


The dead giveaway is the quote from supposed GM VP, “Flora Lopi” - an anagram of the words April fool.

[www.interbiketimes.com]
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Re: RIDE, YOU FOOLS! General Motors acquires Specialized Bicycles
Posted by: billb
Date: March 31, 2008 08:58PM
GM will find a way to shoehorn a V-6 into the thing.
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Re: RIDE, YOU FOOLS! General Motors acquires Specialized Bicycles
Posted by: M A V I C
Date: March 31, 2008 09:01PM
Look at the related articles:
Cycling websites jump the gun on joke [Atlanta]
Best resources for cycling fun [Cincinnati]
Cycling: More fun than an April Fools joke [Charlotte]

And, yes, the rest of the site is .com




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Re: RIDE, YOU FOOLS! General Motors acquires Specialized Bicycles
Posted by: Mr Downtown
Date: March 31, 2008 09:18PM
Quote
SteveO
Hey, this is just like when GM bought out the streetcar and bus companies...and then shuttered them!

Urban legend. [www.lava.net]
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Re: RIDE, YOU FOOLS! General Motors acquires Specialized Bicycles
Posted by: Racer X
Date: March 31, 2008 09:25PM
Quote
billb
GM will find a way to shoehorn a V-6 into the thing.

I'd buy one.
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Re: RIDE, YOU FOOLS! General Motors acquires Specialized Bicycles
Posted by: M A V I C
Date: March 31, 2008 09:32PM
Quote
Mr Downtown
Quote
SteveO
Hey, this is just like when GM bought out the streetcar and bus companies...and then shuttered them!

Urban legend. [www.lava.net]

Interesting. According to the City of Seattle (well, it could have been Ford) the reason the street cards and cable car system was dismantled here was because they bought the system and shut it down. They also still hold the permits.




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Re: RIDE, YOU FOOLS! General Motors acquires Specialized Bicycles
Posted by: rgG
Date: March 31, 2008 09:47PM
Quote
Racer X
Quote
billb
GM will find a way to shoehorn a V-6 into the thing.

I'd buy one.

No you wouldn't. It's a big block V-8 for you or nothin. grinning smiley





Alpharetta, GA (Atlanta suburb)
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Re: RIDE, YOU FOOLS! General Motors acquires Specialized Bicycles
Posted by: Black Landlord
Date: March 31, 2008 11:06PM
Quote
Mr Downtown
Quote
SteveO
Hey, this is just like when GM bought out the streetcar and bus companies...and then shuttered them!

Urban legend. [www.lava.net]

The Specialized purchase may be an April Fool's joke (are you guys going to ruin Santa and the Tooth Fairy next?) but the linked document is nothing more than a slanted position piece.
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Re: RIDE, YOU FOOLS! General Motors acquires Specialized Bicycles
Posted by: Racer X
Date: April 01, 2008 01:02AM
Quote
rgG
Quote
Racer X
Quote
billb
GM will find a way to shoehorn a V-6 into the thing.

I'd buy one.

No you wouldn't. It's a big block V-8 for you or nothin. grinning smiley

aluminum supercharged Buick V-6 is perfectly adequate for commuting in Seattle.

V-8 is for my riding lawnmower and chainsaws.
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Re: RIDE, YOU FOOLS! General Motors acquires Specialized Bicycles
Posted by: N-OS X-tasy!
Date: April 01, 2008 02:57AM
Quote
rgG
Quote
Racer X
Quote
billb
GM will find a way to shoehorn a V-6 into the thing.

I'd buy one.

No you wouldn't. It's a big block V-8 for you or nothin. grinning smiley

I was thinkin' Hemi.



It is what it is.
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Re: RIDE, YOU FOOLS! General Motors acquires Specialized Bicycles
Posted by: Lux Interior
Date: April 01, 2008 04:26AM
Quote
papercup
Still have the Stumpjumper I was given, too.

I still have the StumpJumper I bought in 89. Hasn't seen any action since 97, though, and the frame is the only original part.
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