Archive for December 13th, 2010

Severe weather conditions continued across Wisconsin. Most businesses and the ever important holiday shopping season grinded to a halt.

Power outages along with blizzard conditions, a wind-chill advisory and missing people meant Governor Jim Doyle declared a State of Emergency for all 72 counties.  The Governor’s State of Emergency calls to active duty elements of the Wisconsin National Guard as deemed necessary by Brigadier General Don Dunbar to assist authorities where needed. The declaration instructs all state agencies to assist in any response or recovery efforts that may be encountered.

But the wind and cold brought some unexpected news to help thaw the frostbite.

Harley-Davidson reported that it bought back $297 million in notes.  These were senior unsecured notes, with a face value of $297 million, that were scheduled to mature Feb. 1, 2014. If the company had held the notes until they matured, it would have cost $438 million more in principal and interest.  Harley said it repurchased the notes Dec. 10 for $380.8 million from Davis Selected Advisers LP using cash on hand and that the purchase will lower Harley’s fourth-quarter pretax profit by about $82.7 million.

Should the good folks at H-D be of the mindset to step outside and celebrate today I’m thinking they might want to brush up on their avalanche safety skills and practice using their mountaineer beacons.

Photo courtesy of Seattlest.com

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