Yesterday Friday a U.S. bankruptcy judge in Fort Worth agreed to the sale of American IronHorse Motorcycles to Scott Meyers for $6.7 million. The total cost of the acquisition by Scott Meyers will be in excess of $8 million because it includes liabilities in the form of warranties on existing bikes. So, it’s very good news for all IronHorse dealers and motorcycle owners because the new IronHorse will honor all existing warranties. Evidently, by doing so, the new owner wants to rebuild a very tarnished company’s image. Scott Meyers is 54, a CPA by training, a former CEO of group of defense contractors called Alliant Techsystems, and owns 2 IronHorse dealerships in Minnesota and Montana. To run the new IronHorse, he will move to the existing factory in Fort Worth, TX. Meyers said the purchase is being financed by $2.5 million of his own money and a $6.7 million line of credit from Textron Financial, IronHorse’s main lender and a unit of Textron Corp.. To re-launch the business, he intends to pursue a strategy of producing limited edition high quality models. American IronHorse. (picture Scott Meyers).
Scott Meyers New Owner Of American IronHorse Motorcycles
Published by May 24th, 2008 in Builders, Customs and Editorial.45 Responses to “Scott Meyers New Owner Of American IronHorse Motorcycles”
Comments are currently closed.
Congrats to Scott, can’t think of a better person to take over AIH!!! Hopefully will see you soon at Blackwater’s open house.
It can work if AIH makes better quality bikes, 3 models maximum, not looking like the ones of Big Dog,
Make some good looking, functional bikes and you have a chance… making the same old A.I.H. obviously won’t work. Heaven knows we have Big Dog, Rucker, & Big Bear Choppers available to deliver all the clunky, non-proportionate, predictable style bikes… and please resist the urge for the tacky paint!
Seriously, I wish you the best of luck Scott, and I’m curious what your new models will look like… perhaps Cyril might assist you in designing a classy line?
Biker DATA would like to wish you much success with the American IronHorse Motorcycle Company. I personally love the name AIH and the Slammer is a great looking ride.
Scott all the best to you and your new venture. I heard about you will speaking with some dealers just last week while attending the spring Myrtle Beach Rally. That particular dealer was excited and had nothing but good things to say about you.
PS: AIH would be a perfect promotional bike to giveaway for the 2009 rally season, Lets talk!
This is great news. Best wishs to Scott and may the AIH rule.
Excellent news!!!
Excellent news!!!
Very best wishes for success!
Thanks for the update Cyril. As always you have the most important industry news available in real time.
We will be looking forward to your story on Scott Meyers success with American IronHorse.
I agree. Cyril publishes the most important and interesting news before anybody else. Hey, he is an insider.
That’s great news. Lets see a custom bagger in the AIH line up for 2009
Congrats Scott! As the #1 American IronHorse Dealer, a former Board member, one of the 4 original investors in AIH, a local Fort Worth resident. and one of the stock holders who just lost hundreds of thousand with the loss of our stock through the BK… I still believe strongly in the brand and look forward to working with you to make American IronHorse as special as we all know it can be.
And as a MN native myself, it’s good to see a home town guy bringing good stuff to Texas! You are going to love it here!!!
Let me know how I can help.
Charles Strand, IronHorse Of Texas, http://www.IHOT.us
Scott if you keep the integrity of your team from your own dealerships that were critical to the timing of this deal and the teaming of the Arlen Ness partnership you will no doubt succeed, you staff at Blackwater has always been proffesional and the best to deal with. They seemed to care more about the AIH reputation more than the company did . No doubt you and your team are the best fit to run the new AIH
Excellent news!!!
Very best wishes for success! Thanks for the update Cyril.
Congratulations
Wish Scott and the AIH team the best of luck bringing the brand back to the forefront of the V-Twin Industry. A word of caution to new ownership …..Beware of self promoting dealer/investor – seems to have agenda and history of business practices that may not be in the best interest of the overall success of AIH future.
Best of luck to Scott in reviving the AIH brand. The Slammer, new Texas Chopper, and possibly a functional bagger in the $20-25000 range would be a great start to getting AIH back into the market. It is my hope that the previous management will not be in place with the new owner. There has been a pattern of deception with the dealers and vendors that needs a clean sweep.
The other complication I see happening is the fact that the current AIH dealers are owed thousands of dollars each for previous warranty claims. It will be interesting to see how the dealers will be guaranteed payment if they begin doing warranty work again. The promise of payment will not be enough, it must be guaranteed by AIH.
Scott congrats and the best of luck. i know you will bring pride back into american ironhorse and be very successful at it. It is great to see someone as great a guy as you are takeing the helm and being someone we can talk to with any concerns. now bring on the choppers!!!!!!!!!!!!!!!!!
Congratulations Scott, and as always Thanks Cyril for keeping us all up to date with all the news you supply.!!!
Congrats on the acquistion.. NOW..Please Please get Mechanics at these damn dealerships who can actually work on Pro-street bikes, Why in the hell is a snow mobile/ Quad Mechanic working on my 07 slammer and it still runs like crap. They state” they can do anything about the bike,,Its the way its made, For 53.000 dollars,,it better be able to do what i want it to do. Do something with the Fuel injection system.It sucks.
Please do something with the cluster. This is the 3rd time its out of serivce.. And now I can’t get it fixed.
This message is for Bobby,i too own a 2007 slammer .did u ever download the fuel injection update for the bike ?Also the right side drive will be a problem hydraulics how many miles on your bike
.. NOW..Please Please get Mechanics at these damn dealerships who can actually work on Pro-street bikes A most welcome and accurate point here by Bobby.
This is a great concern for owners of these type of bikes.As usual up front when the the bike is purchased we are always told…Oh yeah…we have a excellent service department,etc: Just wait till you take it back for service or repair though. As simple as the S & S carbs are a lot of mechanics don’t know nothing about the adjustments or settings. They put the wrong oil in the oil tank and you ride it out by trusting in these jerks that did it. These are dealer,owners who do not have the customer in their best intrest. Check um out Scott.
This really seems like a good way to turn $2.5MM (of his money) into $0MM. Does anyone understand how long and how much per bike profit you have to make to repay the $8MM in capital required to purchase AIH. This doesn’t take into consideration, the other overhead, interest, re-staffing, and down (and weakening) economy. The hole only gets deeper. It appears its just a way for the lender to try and get some of their $6.7MM back (they usually get their money first). I hope he can make it, but it seems very doubtful.
Newt,
thanks for this comment …Beware of self promoting dealer/investor – seems to have agenda and history of business practices that may not be in the best interest of the overall success of AIH future.
….It sounds as tho you know this dealer/investor. Hope Scott thinks long and hard about your comment.
The best of luck to Mr. Meyers. I managed the highly successful American IronHorse Finance program for HSBC Retail Services, and believe we played an integral part in AIH’s most successful year, financing over $22 million worth of bikes in 2006. Having rode up the mountain with AIH, and then back down, I have a great affinity for the brand and all of the AIH employees and dealers I met over the years.
If I can be of any service to the new organization, please don’t hesitate to call.
Best regards,
John Marlin
john.marlin1@gmail.com
I am very interested in your product and would like to learn more about where and how to get one
so please let me know what I need to do
If Mr. Meyers intends to rebuild AIH’s tarnished image he can start with my bike.
I purchased my bike 2 years ago, it ran for less than 3 months and has spent 10 months at the local AIH dealer and another “service center”. I then went through the lemon law process for almost a year before AIH agreed to settle by replacing my bike. After 6 weeks of excuses (“we’re trying to locate a suitable replacement” “blah, blah, blah…”) they filed bankruptcy, reneging on the settlement. Now left with a 30K+ boat anchor, I guess I am one of the “legacy costs” CEO Hendrickson wanted to legally stiff to help “prospective buyers’ i.e. Mr. Meyers.
Funny how Mr. Hendrickson felt “bad for the investors who lost money” with no mention of the customers AIH screwed during his tenure.
bob128_99@yahoo.com
The Dealers have been burned along with the customers and vendors.
This is a first of someone trying to make it right for warranties, when they don’t have to.
If Titan had offered this, maybe things would have gone better for them.
It’s very good news to hear this is in the works. I personally love the product.
The paint is my favorite out of the manufacturers we carry. I love the chrome work.
AIH puts out a very clean and classy bike. They handle excellent on the road.
I think it’s worth keeping the horse alive and trying to get it better than it ever was.
Please do not keep Buck or Chuck Ross in the picture. 4 letter words shouldn’t be part
of a calm conversation. Down to earth people who love the company and it’s product should only
be a part of it. Best Wishes to Scott Meyers. Let’s not see certain dealers being treated extra special with pricing etc. All dealers are important and should be treated fairly! NO UNDERCUTTING THE DEALERS. NO MORE FIRE SALES. DO BUSINESS TO STAY IN BUSINESS!
I agree with Slick …..Buck and Chuck should be shown the door immediately. Their word is no good. This should be the f**cing they get for the f**king they gave everyone else – dealers, customers, vendors, etc. There will be no trust if the current management team is in place. Clean house, Scott and the rebuilding will be much easier.
Interesting, i’ve been paying for warranty repairs myself for some time now (covered warranty items), wonder how i’ll get repaid for these? I still have some time left on my existing warranty, and a few things that need to be done, i better get my bike into the shop and get them documented.
Message to Geroge dated June First.
George. All I Know is that I bring my 07 slammer back to the AIH dealer. (Interesting how the son of a bitch there rides a Harley)..Anyway. I say it runs like shit. THere response it the Fuel Injection system. Propritary rights Thunder Heart will not release any information on system because of enviromental acts & Emmissions… WHat Hydaulic problem..shit, Now what..?
My Bike has about 3000 miles on it..or there abouts..My damn speedometer is broken for the 3rd f*cking time..so,,i have no idea,,,What Map do you have..or can you e-mail me direct at Robert@Midhudsonwaste.com.. I have to tell you,,the bike is so damn pretty..its amazing,,Its sorta like a super hot chick that doesn’t put out..so why bother,,, F*ck thunder heart..50 grand for a bike,,it better run like a raped ape.(as it should) It smokes.back fires. oil stains on my damn pipes..Hopefully this New guy throws these lying no good sons of bitches the f*ck out. and demands dealer mechanics to know what the hell there doing.. If the New owner does not take the bull by the horns and make some serious changes, he can take my bike, cut it up and stick it up his ass.than he’s another asshole who has wasted millions .. Any body know of a good mechanic in Northern New York.. sorry for the Ranting..but when a honda shadow 450 blows my doors off..i want to kick the shit outta AIH.
I’m prepared to rip out the fuel injection system. or trade the bike in for a Big Dog..Help….please
Bobby, I feel your frustrations up there. All these high end manufactures should demand dealer mechanics and service advisors know what their doing. Good luck to you.
To “Another Charles” and “Newt”,
Obviously your comments are being made about me, the real Charles Strand. Any Dealer who is not “self promoting” isn’t much of a business person. My commitment to AIH is not in question. I loaned them $250,000 in the beginning which I lost, I served on the Board for 6 years without pay, I constantly fought to get rid of the bad “Wall Street Bankers” management in the past, and for the last 4 years have sold more bikes for them than any other dealer by far… out sold Dealer #2 last year 3-1.
I never stopped honoring AIH warranty, to the tune of over $100,000 out of my pocket as I had faith that the company would survive. If any dealers got screwed, which from what I understand is not the plan, I got screwed more than anyone.
Scott Meyers has agreed to honor all existing and past consumer warranty liabilities, even though he doesn’t have to. He is the first CEO that has expressed a concern for Dealers and consumers alike. He came to our 4 Year Anniversary event last Saturday and helped sell bikes and fielded hundreds of customer questions… in my book, he is the right guy.
See him in action at; http://www.ihot.us/Past_Events.cfm
He has only had possession of the company for 1 week, seems like everyone should give him a chance.
As for me, I didn’t get into this business to be popular, I got into it to sell motorcycles, and suggest that you “anonymous” tough talkers do the same. If it wasn’t for our sales of AIH bikes over the last 4 years, the company would have been gone a long time ago. So rather than complain and call names, step up and sell more bikes, “self promote”!
Charles Strand, Iron Horse Of Texas
Mr. Stand, I have several questions, first, I own a 07 Legend with warranty on it. I took it to a authorized Iron Horse dealer in March, not knowing that Iron Horse had file Chapter 11. Long story short, the dealer would not work or fix my bike unless I was a cash customer. Being up the creek without a paddle, I spent over 2K on the bike to get fix. All the work would have been covered under warranty. Therefore, I have called Iron Horse more than once, no response, left messages; again no response. I have contacted the dealer for there help in getting my money back since Iron Horse has been bought out and they will not even talk to me about this. Whom do I need to contact to get my money back, whom do I need to talk to about poor service from a Iron Horse dealer, whom do I need to talk to about getting my bike fix again for a problem that it was taken to the shop for in March!!!! I really like the bike, but enough is enough, the bike is less than a year and half old and it stays in the shop more than on the dam road. Call me if you have any answers – 843-753-3269
Mr. Strand – From what I hear from the other AIH dealers you have succeeded when you say you did not get into the business to be popular. Your back room dealings with AIH contributed greatly to the demise of this brand, especially the blowout sale in Sturgis that officially announced that AIH was dead. Hopefully Mr. Meyers is astute enough to clean house regarding the management team and provide a level playing field for the dealers. It is tough to reveve a brand that has burned so many customers, dealers, and vendors.
Mr Strand,
Myself and many many others are thrilled about Scott Myers taking over the reigns at AIH and we all wish him the best in his endevors at AIH. If you are all that you claim to be about yourself as a top selling and warranty dealer that is great. But at what expense as for as your past employees go? Without the skilled and hard working service employees all that warranty coverage could not have happened. Where are all these skilled employees today that got the work done for you ? What about the promises made to them as for as promotions,etc: What about the spy camaras they worked under ? How many times did they get at least a hello from you ? Once again, wishing Scott Meyers all the best with AIH. I do beleive he is the right man for the job to keep AIH on track.
Mr. Strand-It was interesting to read your post as well as some of the others here.
The fact is that American Ironhorse is in this situation NOT because of “Your back room dealings with AIH…” higher interest rates, tightening credit standards and increased energy prices or a decline in demand for luxury goods. Nor as dealer-world.com quoted Mr. Meyers, “American IronHorse swamped the market with bikes in 2005 and when inventory started to stick they agreed to pay for the flooring.”
The ill will created with customers like myself IS the reason American Ironhorse is in bankruptcy. In 2005 American Ironhorse increased production in response to sales at that time, but did not have (and did not desire to develop, or incur the expense to develop) the infrastructure to deal with warrantee claims, and customer service issues. They chose not to incur the expense of honoring their vehicle warrantee beyond having the dealer “tinker” with our vehicles.
Your mention that you” got screwed more than anyone”. I beg to differ; you’re a business owner who takes a risk each day to make a profit. Investors (along with you and your 250K) invested, vendors extended credit, all with hopes of a return, but knowing things may not pan out and your money could be lost. I’m just a guy who walked into a motorcycle dealer to buy a bike. Now I’m out $30K+ with nothing to show for it.
Before you beatify yourself and Mr. Meyers for Sainthood look at the customers AIH has screwed.
Bottom line, American Ironhorse, with or without Mr. Meyers, is a black eye to the DFW business community and the motorcycle industry.
bob128_99@yahoo.com
Saint Charles:
OK, You stood on your pulpit, said your speech. and by the looks of it. You got tomatoes thrown at you. You and AL sharpton should March together. Bottom line is. American Iron Horse Bikes SUCK,
The back door dealings..the Bullshit sales Pitches that customers received ie.. 07 slammer. bike of the year. 07 slammer roars with attitude. What a crock of shit.
There are no Mechanics at these dealer ships to fix these bikes. I stood at the counter ready to beat the balls outta the assbag that sold me my hunk of crap, (becasue he was a self promoting AIH dealer and a lying piece of shit) I watched as he was put on hold BY american iron horse for 2 hours, just to be told the “There’s only one guy at AIH that could help with the fuel injection system. he just went to lunch”
My Meyers. If you read any of this. You spent alot of money. Get your infrastructure together, help the dealers sell YOUR BIKES. fix whats wrong with them. At this point your just getting rid of table scrap just to screw the next customer that walks through the door. Get real Mechanics,,,
I/we know you only have the business about a week,,,problem is ,Your dealer ships have no idea what the hell is going on..My bike runs like shit. and they can’t fix it.
What are you going to do.?
Just to clarify the misinformation many of you seem to want to spread; The sale in Sturgis last year was not my sale, none of those bikes were mine. The “factory” asked me and 5 other dealers to come and help sell some old bikes that they had to sell in order to stay in business. After the first day, I called Buck the CEO and asked if we could raise the price as they were too cheap… he said yes, and we did.
I had nothing to do with the employees at AIH getting fired or laid off, when I was on the Board, 5 years ago, no one ever got laid off. So get your story straight or shut up.
I have never been given preferential pricing and until now, had a very adversarial relationship with AIH management.
No other dealer lost more than me in the BK or suffered more due to the bad publicity… it has been in our local paper every week for the last 6 months and sales have sucked as a result.
I always question a bunch of cowards who spread BS under alias names, if you believe what you are saying, why not use your real name.
Charles Strand
OK, one final comment to try and answer the questions that have been asked of me on this thread;
Glen, as for your Legend, It’s a shame that the dealer you bought from refused to do the warranty, or that he had to as he couldn’t get paid by AIH… but surely no one can hold that against the new owner who has only had the company for 10 days and is trying to sift through the ashes to get everyone taken care of. I would suggest that you wait a week or two and then get with LT who is in charge of Warranty at AIH to see what they can do for you. 817-665-2000
John,
Not sure what “back door dealings” you keep referring to, but I can assure you, and can prove if needed, that I have never had any “back door dealings” with AIH. I was the one who filed the DOT complaint that they were off-loading inventory at used bike auctions and causing unfair competition with their Dealers. At one point 5 used bike dealers in my territory had “new” AIH bikes for sale for less than I could buy them for, but selling them without warranties and lying to customers about the coverage on them.
You guys sound like a bunch of school kids spreading gossip, try getting some facts before you go slandering people you know nothing about.
“Another Charles”;
My past employees are “Past employees” because they didn’t do their jobs… no one fires people because they were doing a great job. The “spy cameras” are “security cameras” required by our insurance company and none of us have time to, or do, watch 12 hrs of video each day to spy… the only times we have ever went to any video was in the case of theft, injury or a liability issue which is what they are there for, like most businesses. Get a life!
Oh, I forgot… “Hi”, Bye!!!
The bottom line is that there is a “New” American IronHorse and the new owner is working hard to get it back on its feet and take care of the dealers and customers… but give him a chance. None of the problems mentioned in this thread have anything to do with him or me. Anyone who has an AIH bike and can’t get warranty work done on it… bring it to my shop and we’ll fix it… don’t know what more we can do!
There are a lot of Dealers who are being eliminated for having bad customer service reviews, and should be. Our Dealership has been rated at the top of the AIH Customer Satisfaction Survey for the last 3 years… you can’t please everyone, but we try.
Please give the new owner a chance, I think you’ll all see that he has great intentions and plans for the company.
If anyone cares to talk to me as a man, instead of an anonymous blogger, you can email me at Charles@IHOT.us or get any of mine or our satff’s emails from our web site… other than that, I don’t care to take anymore time talking to ghosts.
Charles Strand
Question for Charles:
Are the rumors true that you were backing Bill Rucker to bid on AIH and up against Scott Meyer?
If so, you seem too supportive for being on the losing teem!
Slice, it’s not true that Charles was backing Bill Rucker. But he was firmly behind Buck Hendrickson, the COO then CEO who spent the last two years destroying American IronHorse. Buck has now been let go.
Charles also has implied that Bob Schleizer who has been the CFO during this disaster was soon to be let go. This hasn’t happened, Meyer has decided to keep Schleizer on for some reason that no one in the industry can fathom. Of course it may have something to do with the way Bob testified in court:-)
I guess you can say that he was cheering for the loosing team. I believe the words he used in the forums linked below were “The current CEO (that was Buck) , and what is left of his staff, will all be part of a grand restructuring that will make you all eat your words…”.
I don’t see Buck, and I sure don’t see any evidence of a grand restructuring. Scot Meyers has let the VP of Engineering go, literally eliminating the last employee who actually had any idea about how bikes are built. He kept Jeff Long, who has been the right hand man and king ass kisser to every single CEO since the departure of Bill Rucker. Jeff hasn’t done a single minute of work (except taking credit for the work of others. I guess that qualifies as work?) in the past five years and, now that he’s stroking Scott Meyers, I don’t see that changing any time soon.
Unless IronHorse can get back into a position where they can give Charles the sweetheart deals, selling him the bikes for far less than the cost to manufacture and letting him cherry pick the other dealers sold bikes on the production floor, I see trouble on the horizon for Charles’ number one dealer status.
To set the record straight, IronHorse was destroyed by an incompetent board who hired 5 incompetent CEOs and 4 incompetent CFOs in a four and a half year period. These same board members repeatedly came into the business and assigned themselves jobs so that they could put even more of he investors money in their pockets. Hell, Bob Schliezer who I’ve noted above is still there, was one of those board members! And to top it off, his son is still on the payroll, still doing absolutely nothing! But then there’s that testimony………. Charles routinely complains about his quarter million dollar investment in the company, but IronHorse may have actually spent that when they were trying to keep themselves out of a lawsuit brought on by Charles and his boyfriend almost killing a girl who was riding on the back of one of their bikes.
If you want to see more of Charles’ ranting please read below.
Dom
http://motorcyclebloggers.com/2008/01/27/american-iron-horse-battle-royale-here/#more-1015
http://motorcyclebloggers.com/2007/06/22/rumor-harley-davidson-and-ducati-merger/
?
Totally false. I wouldn’t back Bill Rucker in anything! I was the head of the audit committee when we fired him for taking $300,000 from AIH that he wasn’t supposed to.
I was supporting a group that made an offer on AIH, but after talking to Scott Meyers, withdrew our bid and decided to work and support him and his plan. My wish is to be a Dealer and have a good, reliable supplier… period.
Charles Strand
If you are truly going to clean house, Schleizer must go. He was involved with 3 different CEO’s and the trust level from the employees, vendors, and dealers is zero. Scott – show him the door.
Mr. Strand needs to keep his mouth shut and run his dealership. All of the other dealers hate his guts and they’re tired of his rude, bullying tactics. If he is such a great motorcycle guy why doesn’t he start his own company and run it how he wants to. Should be a real winner.
Raymond,
I know most of the AIH Dealers, and about half do hate me, the other half are great friends. In business, everyone always hates the guy that is in first palce, mostly out of jealousy. All I have done on this site is to try and offer support for Mr. Meyers and AIH.
Most Harley Dealers hate Bruce, but HD loves him!
All of you “annonomous” idiots have taken your shots at me for whatever reason from a cowardly position of fake names & initials. I’m sure Mr. Meyers is smart enough to look at numbers, not opinions… opinions always have flaws, numbers never lie.
Surely you don’t expect anyone to take your suggestions seriously when you don’t even have the courage to attach your name to them?
I am “running my Dealership” and quite successfully. If you want to blame someone for your troubles, “start with the man in the mirror”. I could care less about how many of my competitors “like me”, what a bunch children… “Oh, so and so doesn’t like you,…”
Get real!
Charles Strand
Dom,
Another cowardly idiot spreading lies. The girl that got hurt on the back of Billy Shipley’s bike, who I’ve always thought was an idiot, got hurt because she and Billy were drunk and tried to pass a group of riders on a 15 MPH corner at 40 MPH, almost killing everyone… again, all of this is public record and no one, other than the drunk girl, tried to tie us to it as we had nothing to do with it. Billy was convicted of Felony Vehiclular Assault as it was his fault.
The bike involved in the wreck was not purchased from me nor had we ever worked on it… but chicken shits like you, and them, always sue the money, not the fault.
As you have decided to get personal here, and as I’m sure you are the one with a “boy firend”, (I have a beautiful woman a 2 great kids…) I would be happy to meet you in person and show you what a pussy you really are, might make you my bitch just for fun?
I’ve heard your story before and it is clear you are one of the AIH employees that got layed off and somehow blames me for it… try getting a job and stop blaming everyone for your failure as a person… it has to be getting old collecting unemployment and watching Oprah?
I’d love to “shut up” as I have a lot better things to do than talk to a bunch of losers, but as you keep talking shit and taking cheap shots at me… I feel compelled to respond. I take your comments as an insult to my family and when I find out who you are you won’t think your so tough.
I hope to meet you again soon and kick the shit out of you so you know what a punk you really are!
Charles Strand