Archive for June 10th, 2009

Lawrence G. Hund

Lawrence G. Hund

H-D announced the hire (or is it re-hire?) of Lawrence G. Hund as President and Chief Operating Officer (COO) of Harley-Davidson Financial Services, Inc. (HDFS), effective June 29.  HDFS is a wholly owned subsidiary of H-D and provides wholesale financing to dealers and retail financing to customers.

Mr. Hund comes from Tygris Commercial Finance Group, Inc. where he worked the last 8 months as its Chief Financial Officer (CFO). Yes, you read that correct — EIGHT months!  With over 25 years in the commercial finance industry, Mr. Hund oversaw Tygris’ treasury, accounting, tax, planning and analysis and financial operations.   The company was founded in 2008 and from background research it reads as if the company was on a hiring binge of executive talent for much of last year with specialist’s in asset based credit facilities, turnaround and bankruptcy/exit financing to mid-market companies.  In addition, Mr. Hund was hired at Tygris after only 11 months as CFO of Bridge Finance Group.  Rotating through two CFO positions in less than 19 months may not mean anything other than validation of the malaise in the credit markets.  Both companies were deep in the banking and commercial finance sector and served the automotive industries.  Lastly, Mr. Hund was CFO of HDFS from 2002 to 2007 and it’s likely he was either instrumental to the negative asset quality/performance or deeply involved in setting financial strategies which accounted for over $3 Billion in debt at HDFS and nearly $1 Billion of debt at HOG at the start of 2009.

The lingering issues with the credit market and the recessionary economy will continue to haunt HDFS.  Let’s hope that Mr. Hund can create a leading commercial finance franchise and avoid using any of his bankruptcy skills!

Photo courtesy of Tygris.

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million_mile_tagNapster was 10 years ago.  “Thriller” twenty five.  The boy band peak never arrived and Hip-Hop can’t fade fast enough in my humble opinion.  Then you wake one morning and realize how much time has passed!  Sure, it’s the financial crisis, but the change of centuries has pulled away from the train station with no names for this decade.  We’ve been unaware of the passage of time…

Speaking of time.  Peter Frampton (All I Want To Be (Is By Your Side) rotated through my iTunes “Genius” playlist and listening to him dance on the acoustic frets I got the feeling of being transported to another time and place.  I had to stop typing, stop surfing and could only listen.  The lyrics are informal, but we’re surrounded by the pure joy of music.  Music from a time when it was intimate and a powerful art form where people bonded with others in attendance at rock concerts.

And speaking of bonding.  It’s less than three weeks until we do it again…one more time.  WTF?  I’m talking about the H.O.G. Million Mile Monday Ride.  Set for June 29th it’s the second time H.O.G has orchestrated a ride.  Nothing complicated, just a ride on a Monday when most people are staring down the barrel of long work week.  Ride around the block, ride to work, ride to the local dealer or participate in whatever level you’d like, but just ride.  Afterward go to the H.O.G. members site and log your miles or kilometer.  Last year the worldwide members logged 3,000,960 miles.  This year the goal is 5M miles.

Photo courtesy of H-D.

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