Author Topic: Norton (Read 1709 times)

Omninorm · « **on:** December 02, 2019, 10:32:21 am »

Some really cool bikes from them... this was from the 2019 show but yeah can't recall seeing them discussed much here.
Love the ones from 6:24 and 6:50

manxkipper · « **Reply #1 on:** January 30, 2020, 05:51:13 am »

Norton UK have been placed under administration. Seems monies owed to the fiscus cannot be paid. There is also something fishy with pension fund monies where Stuart Garner is the sole trustee and all funds are invested in Norton Co.

Altie7deLaan · « **Reply #2 on:** January 30, 2020, 06:35:57 am »

o koek...
hoop hulle kan op die map bly, die prysklas val buite meeste mense se greep. maar ongelooflike mooi bikes wat hulle bou.

manxkipper · « **Reply #3 on:** February 03, 2020, 08:11:27 am »

https://www.rideapart.com/articles/395990/norton-motorcycles-stuart-garner-pensions/

jaybiker · « **Reply #4 on:** February 03, 2020, 08:49:36 am »

The Norton Manufacturing Company, later Norton Motors was beset with financial woes throughout it's entire history. James Lansdowne Norton was forced to liquidate his company in 1913, but kept up active participation under the new ownership until his death in 1925.

The various changes of ownership and 'revivals' of the brand over the years have all been due to the efforts of people with a deep enthusiasm to keep the brand alive.

What a shame then to see it's latest demise brought about by a bunch of crooks whose only interest was in scamming the investors for money, with no care for motorcycles or the Norton marque whatsoever.

manxkipper · « **Reply #5 on:** February 03, 2020, 10:34:00 am »

It is very sad. I feel sorry for all those that paid in full for a bike they will never receive. The pensioners scam is terrible news. Depriving people of the funds they have actively set aside for retirement in one manner or another is a disgrace.

Sheepman · « **Reply #6 on:** February 04, 2020, 10:05:34 am »

Seems the company has been placed in business rescue, thus there is still a chance that it ( or parts of it ) can be saved.I really hope so !

manxkipper · « **Reply #7 on:** February 05, 2020, 10:53:44 am »

Listening to this chap's youtube take on the monies owning by Norton I doubt very much that any self respecting business entity or person will take over the current company. Smoke and mirrors stuff by Garner!

https://youtu.be/0ryb8qoIdWM

Sheepman · « **Reply #8 on:** February 05, 2020, 11:50:36 am »

Quote from: manxkipper on February 05, 2020, 10:53:44 am

Listening to this chap's youtube take on the monies owning by Norton I doubt very much that any self respecting business entity or person will take over the current company. Smoke and mirrors stuff by Garner!

https://youtu.be/0ryb8qoIdWM

Thanks for posting - agreed, its clearly more a case of liquidation of the company than business rescue. Garner obviously over and over re - capitalized the business with various forms of credit lines, without seriously considering changing his business model !

manxkipper · « **Reply #9 on:** February 05, 2020, 02:51:50 pm »

Thankfully my Nortons were built before 1970 so no issues with parts availability. The current owners of new Norton models are going to have a tough time with parts if there is no rescue. The reliability of the new Norton models has not been good to date either.

manxkipper · « **Reply #10 on:** February 13, 2020, 08:25:00 am »

https://www.theguardian.com/business/2020/feb/12/inquiry-government-funding-norton-motorcycles

Pensioners funds appear to have been converted into toys as the article says. I have an idea that there will be a substantial increase in the misappropriation of funds coming to light shortly.

"Norton owns a fleet of luxury vehicles, including six Aston Martins, three Range Rovers and an F Type Jaguar. According to the accountants, the car collection is worth close to £800,000".

https://youtu.be/Xvbn3r4D5X4

Altie7deLaan · « **Reply #11 on:** February 17, 2020, 07:42:10 pm »

John McGuinness not with Norton anymore.

"Norton will not run at the TT this year after the firm was taken into administration by Metro Bank and CEO Stuart Garner is facing serious questions from the pensions regulator, among others.

“I’m just a bit embarrassed really, how it’s all come out, I feel sorry for people who’ve lost out, but I don’t know all the details,” said McGuinness.

“It’s a bad ending isn’t it? A bad ending to what should have been an iconic thing.”

It is believed that Norton still owes McGuinness in the region of £60,000 in wages for last year’s TT."

McGuinness signed on with Bournemouth Kawasaki:

"For this year’s Isle Of Man TT, John McGuinness will be piloting the Quattro Plant Bournemouth Kawasaki ZX-10RR. Unveiled in a press launch at the London Motorcycle Show, the Kawasaki ZX-10RR will be the first time the 23-time winner will be racing a Kawasaki-powered machine. The ZX-10RR will be racing in the RST Superbike category, RL360 Superstock and Senior TT Races. Additionally, McGuinness will be racing the new bike in the Superbike and Superstock races in May, at the NW 200. "

manxkipper · « **Reply #12 on:** February 17, 2020, 10:27:33 pm »

https://www.superbike.co.uk/article/norton-was-it-a-fraud-from-the-start

An entertaining read.

IceCreamMan · « **Reply #13 on:** February 17, 2020, 10:41:21 pm »

Quote from: manxkipper on February 17, 2020, 10:27:33 pm

https://www.superbike.co.uk/article/norton-was-it-a-fraud-from-the-start

An entertaining read.

Jeepers

jaybiker · « **Reply #14 on:** February 18, 2020, 12:25:48 pm »

It's not about the bike.

sidetrack · « **Reply #15 on:** February 18, 2020, 12:58:05 pm »

CEO does not pitch, this guy is like the ex chairperson of SAL

https://advrider.com/norton-ceo-fails-to-appear-at-hearing/

Sheepman · « **Reply #16 on:** February 18, 2020, 02:12:23 pm »

Quote from: manxkipper on February 17, 2020, 10:27:33 pm

https://www.superbike.co.uk/article/norton-was-it-a-fraud-from-the-start

An entertaining read.

Indeed ! Seems Garner not only didn't understand the motorcycle business........he never understood business at all, if facts reported on are true

Unfortunately, this type of story has been told and seen many times before at many places and in many sectors and will continue to do so.

Roxtar · « **Reply #17 on:** February 24, 2020, 10:09:49 am »

Bye-bye Norton (again), bye-bye pension fund money.....

Fudmucker · « **Reply #18 on:** February 26, 2020, 06:33:28 am »

Quote from: Roxtar on February 24, 2020, 10:09:49 am

Bye-bye Norton (again), bye-bye pension fund money.....

This is a perfect Kilroy moment - he must be proud.

Pension money of the workers used to fund the losses of the business caused by the CEO.

Altie7deLaan · « **Reply #19 on:** February 26, 2020, 08:03:50 am »

Sad, baie sad.
And to think there was a time when the english built beautiful fast bikes that was a force on the racetracks, before the might of Japan overtook everyone with their 2 strokes.
Also surprised to hear that ex Spondon owner got taken for a ride too, I have always admired the work done by Spondon and guys like Harris.
Whatever you or I think of Stuart Garner, I do believe he has a passion for the Norton brand though.
Aai nee man..