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April 01, 2008

GM Stuns Cycling Industry: Becomes New Owner of Specialized

***UPDATE - 530PM***

APRIL FOOLS!!! ;-D

As one of the pranksters responsible writes me:

Well, the cat's out of the bag.

Specialized had a good laugh about it, but then they asked us to pull the story so we did.

They were getting overwhelmed with phone calls from dealers.

Thanks for posting that link, Kiril.!

Richard (aka Fritz), of Cyclicious

BikeBiz started getting e-mail, soon after posting, from folks around the world, all atwitter over the news. ;-D

The story linked in my original story, below (I was one of several BikeBloggers approached to help "report" the news of the original stories.), have been updated with details on those responsible, and reaction from Specialized, which found it very amusing, even as they found themselves swamped with phone calls from dealers expressing concern. ;-D

A trade news website was among those initially fooled, as reported (With a captured image, from a Google Search) by another conspirator, who shares links to some other spoofs, including cycling ones.

***END UPDATE***

General Motors announces it's taking over Specialized Bicycles!

Wow!

Being a proud, longtime, owner of a Specialized Sirrus Sport Hybrid Road Bicycle, this story caught my attention.

The boards of both companies apparently agreed to this on Friday, according to the report in the San Jose Business Journal.

The deal is expected to be completed later this year pending regulatory approval in the US, and elsewhere.

I found the following quote to be quite interesting:

"In light of global concerns about climate change, GM has been at the forefront in developing new transportation choices that limit our impact on the environment," said Flora Lopi, GM's vice president, Environment, Energy and Safety Policy. "GM's engineering, marketing and distribution expertise combined with Specialized's branding among cycling enthusiasts make this a winning combination for GM investors and consumers."

Just as interesting was the following by Specialized founder and president Mike Sinyard:

"All of us here at Specialized are thrilled to be a part of GM.

"Specialized will maintain commitment to the IBD as well as now being available across the nation in GM dealerships. These are quality retail outlets, not big box discounters. Specialized will never be available in mass merchants.

GM Chairman and CEO Rick Wagoner sounds real gung ho about this, too, saying someting about "changing the way we address our transportation needs", and "leveraging the unique synergies of the bicycle community to introduce some of our ideas for addressing critical issues concerning energy, the environment and globalisation."

It will be interesting to see how industry, media, and ordinary folks reactions will play out in the coming days.

I'd love to hear from readers in the comments to this post as well.

Do you think this is a good move by the parties involved?

Is it good for bicycling ?

Along those lines...

There will apparently be a conference call with Specialized founder Mike Sinyard, and Robert Kruse, an Executive Director for GM's North American Engineering Staff, later today.

BikeBiz.com reports it will book a slot on the call:

If you have a question for Sinyard or the GM execs, leave a comment at BikeBiz and they promise to try to use some of the questions during the conference call, which starts at midday, US mountain time.

April 1, 2008 in Bicycling Humor, Cycling News Network | Permalink

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Comments

Thanks for helping out with that, Kiril.

Posted by: Fritz | Apr 2, 2008 11:28:57 AM

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