[CMI-CM] Bike news

[Paul Riismandel]

Does this mean we can look forward to $69 Schwinns at K-mart?

 From Wired News (http://www.wired.com/news/business/0,1367,45302,00.html):
Changing hands: Huffy has entered into an agreement to buy the trademark 
and certain assets of Schwinn/GT for more than $60 million.
"An opportunity such as this comes along only rarely," said Don Graber, 
Huffy's chairman, president and chief executive officer. Schwinn is one of 
the most widely recognized brand names in the world and will strengthen 
Huffy, he said.
In a press release, Schwinn said it has filed for Chapter 11 bankruptcy 
proceedings, a move that will be required for Huffy (HUF) to buy some of 
Schwinn's assets.
Last month, Schwinn CEO Jeff Sinclair said the company, which merged with 
GT Bicycles to become Schwinn/GT in 1998, had a short list of buyers and 
that the sale could be complete within the next month. He insisted it would 
not mean the brand's demise.
"What they're buying is assets of the company and one of the prime assets 
of the company is the Schwinn brand," Sinclair said
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