[tg1]

I'm sure this is old news to everyone:
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Cannondale to File Chapter 11

Ehlert Powersports
Monday January 27, 2003

Cannondale Corporation (Nasdaq: BIKE), Bethel, CT, has announced that it intends to file a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code on January 28.

Cannondale and its lenders, The CIT/Business Credit, Inc. and Pegasus Partners II, L.P. have reached an agreement in principle that, subject to Bankruptcy Court approval, will provide the Company with interim financing to fund post-petition operating expenses and to meet supplier and employee commitments. "The interim financing will be used to continue the operation of our bicycle business," said Cannondale Founder and President Joe Montgomery.

Cannondale has also reached an agreement in principle to sell substantially all of its assets to Pegasus Partners II, L.P., pursuant to Section 363 of the Bankruptcy Code and subject to better and higher offers and court approval. Pegasus would operate the bicycle business as a going concern with the involvement of current management and would purchase separately the Company’s motorsports assets, including the intellectual property related to the design of Cannondale’s motorsports products. In the meantime, management continues to work with other potential interested buyers for either or both of these businesses.

Because the Company has obtained interim post-petition financing, Cannondale will be able to pay vendors for goods and services received after the filing in the ordinary course of business.

The suspension of operations of the motorsports division means workers who had been furloughed from Cannondale’s motorsports factory in Bedford, Penn., in December will not be recalled. Production workers at Cannondale’s Bedford bicycle factory are, however, scheduled to return to work in what was only described as "the near future."
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Rumors are flying around about someone buying C-dale... Can't find any proof, but some of the rumored companies are Harley, Polaris, Cat, and one of the Taiwan mini manufacturers.

What do you guys think?

 

[speedy]

I'm not sure what to make it. I think overall they had the right idea with the EFI, but to make them almost full race ready was much to costly and that turned away too many customers. Cannondale also could have used an advertising campaign. Hopefully somebody picks up where they leave off with the EFI.

 

[robg]

They did seem to have more entry-level quads priced around the same price as the Raptor, didn't they?

I personally think, though, that as you suggested, they needed to advertise better, and also maybe have a little differentiation between machines. I mean, basically it was the exact same machine all the way through the line. The only real differences were the shocks and the fuel map... and the color.

It didn't help that it looks like a Frog.

Rob

 

[fourstroke]

Exactly, the C-Dales were ugly. They didn't need to have 5 different atvs when they could have just had one, and then made available options for more performance. Now it's too late I guess. I think they'll keep making bicylces though.

I've heard rumors that Arctic Cat is continuing with the EFI ATVs.

 

[speedy]

Everyone will have EFI soon enough. So that means honda will have them by 2025

 

[tg1]

Here's the press release about EFI Cats:
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ATV Manufacturer Develops EFI Technology

Thief River Falls based ATV manufacturer - Arctic Cat Inc. announced that an EFI (electronic fuel injection) system has been developed for ATV engines and that implementation still hinges on various feedback from their expansive dealer base and consumers.

Arctic Cat, a technology trendsetter within the snowmobile industry has remained the only snowmobile manufacturer to offer EFI technology on various engine packages until this year and still remains the only snowmobile manufacturer to offer the benefits of EFI on two-stroke engines. Since introducing the EFI system in 1990, Arctic Cat snowmobiles have become well known for guaranteed second pull starts, smooth idling, light throttle pull and automatic temperature and altitude compensation.
With the expanded use of today's ATV, consumers are utilizing their machines in extreme temperatures in all sorts of elevation throughout the world. Just like the snowmobile industry, the advantages and benefits of the fuel system when applied to the ATV market become crystal clear. If utilized, the addition would make Arctic Cat the first ATV manufacturer to implement an EFI system on a utility class ATV.

"Developed internally with a major fuel system supplier, our R&D teams have been running ATV models with the EFI system in place for quite some time now," said Ole Tweet, Arctic Cat's Vice President of New Product Development. "Should we decide to move forward, consumers could see a fuel injected Arctic ATV within a six-to-twelve month time frame."

While not determined, the company says consumers would see a price premium for an Arctic Cat ATV with EFI technology. And initial product offerings would be found in the larger displacement Arctic Cat ATVs.
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I agree the C-dales weren't the prettiest things, and they did lack any real advertising. Someone started a rumor of a 4x4 C-dale a few months ago; imagine what that would have been like!!!

 

[red121572]

Looked like a frog, I thought they looked more like Homer Simpson.

I considered one. I read that they are for highly experienced/racers. I couldnt see paying 8 grand for a quad. I bought a mint 87 Buick Grandnational 6 years ago for only 9 grand!

 

[mueller141]

you really think that the c-dales were ugly? i actually liked them a lot

 

[gomer007]

I herd polaris is going to bying out dale?

 

[meyerz]

A mechanic just returned from a tech school and most of the time there were talking about EFI for the predator. When it will be available, they were not sure.