Warren Buffett Loans $300 Million to Harley-DavidsonTue, 03 Feb 2009 00:00:00 -0800
Don’t think that Mr. Buffett is lending the American icon the money out of the goodness of his heart, he is receiving a whopping 15 percent on his money, at those rates I can lend Harley some money!
CNBC.com Warren Buffett poses on a motorcycle at the Burlington Hathaway annual meeting in May, 2008. Berkshire’s Geico subsidiary was promoting its motorcycle insurance.
The money will be used to support Harley’s finance company and its “ongoing motorcycle lending activities.” (If a buyer can’t get a loan, it’s harder to buy the bike.), according to cnbc.com.
Harley-Davidson shares gained 15 percent on the news closing at $13.73, but way down from the 52-week high of $48.05.
By Joe Magro
See also: Harley-Davidson Helps Beat Winter Blues, Harley-Davidson Tri-Glide Led Inauguration Parade, Motorcycle Ride for Diabetes.