Issue link: https://read.dmtmag.com/i/343790
www.PowersportsBusiness.com FINANCE Powersports Business • July 13, 2014 • 15 Harley-Davidson Financial Services, Inc. (HDFS) has agreed to pay $228,000 to more than 600 Massachusetts consumers in order to resolve concerns that it failed to pay proper refunds under the terms of its motorcycle finance agreements, Attorney General Martha Coakley announced in June. Under the terms of the settlement, HDFS will reimburse $228,000 to more than 600 Mas- sachusetts borrowers. Notices and payments will be mailed to eligible borrowers in early July. HDFS will also pay $25,000 to the Common- wealth for the cost of the investigation. "We are pleased that this finance company stepped forward to reimburse Massachusetts customers and promptly adopted changes to its procedures," Coakley said. "We are con- tinuing to review the practices of other motor vehicle finance companies operating in the Commonwealth to ensure compliance with contractual obligations." According to the assurance of discontinu- ance, filed in Suffolk Superior Court, HDFS allegedly didn't always provide correct refunds of finance contract enrollment fees. Borrowers typically pay these optional enrollment fees in exchange for additional special loan terms. When borrowers pay their loans off early, they are often entitled to obtain pro-rated refunds of these fees. The refunds are customarily remit- ted to borrowers through the auto dealership that helped arrange their loan. PSB FOREIGN CURRENCY EXCHANGE 6/20/14 1 Month Ago 6 Months Ago Year Ago Annual Price Price %Change Price %Change Price %Change High Low Australian Dollar 1.07 1.08 1.2% 1.12 5.2% 1.09 2.2% 1.03 1.15 British Pound 0.59 0.59 1.0% 0.61 4.1% 0.65 10.0% 0.59 0.67 Canadian Dollar 1.08 1.09 1.2% 1.07 -0.9% 1.04 -3.8% 1.02 1.13 Euro 0.74 0.73 -0.9% 0.73 -0.7% 0.76 3.0% 0.72 0.78 Indian Rupee 60.16 58.76 -2.3% 62.14 3.3% 59.75 -0.7% 58.36 68.14 Indonesian Rupiah 11,972 11,488 -4.0% 12,213 2.0% 9,925 -17.1% 9,920 12,260 Japanese Yen 102.16 101.35 -0.8% 104.10 1.9% 98.09 -4.0% 95.89 105.11 Malaysian Ringget 3.22 3.22 -0.1% 3.29 1.9% 3.20 -0.8% 3.14 3.35 Phillipine Peso 43.78 43.73 -0.1% 44.49 1.6% 43.80 0.0% 43.04 45.40 Singapore Dollar 1.25 1.25 0.1% 1.27 1.3% 1.28 2.1% 1.24 1.28 South Korean Won 1,020.70 1,025.35 0.5% 1,061.20 4.0% 1,145.70 12.2% 1,015.80 1,161.35 Taiwan Dollar 30.00 30.14 0.5% 29.93 -0.2% 29.98 -0.1% 29.36 30.59 Thailand Bhat 32.46 32.54 0.2% 32.63 0.5% 31.13 -4.1% 30.93 33.13 Note: A positive percent change reflects a weakening of the U.S. dollar and a strengthening of the foreign currency. Source: Wells Fargo Securities LLC POWERSPORTS BUSINESS STOCKS Stock Price Price Percent 52-Week Company Ticker 6/20/14 5/23/14 Change High Low Arctic Cat, Inc. ACAT $38.90 $37.27 4.4% $61.13 $40.13 ARI Network Services, Inc. ARIS $3.07 $2.74 12.0% $3.51 $2.25 Assurant, Inc. AIZ $68.12 $66.57 2.3% $69.26 $45.03 Brunswick Corp. BC $41.76 $43.24 -3.4% $47.69 $29.92 General Electric Co. GE $26.97 $26.51 1.7% $28.09 $21.11 Harley-Davidson, Inc. HOG $71.37 $70.71 0.9% $70.04 $49.15 Honda Motor Corp. ADR HMC $35.63 $34.71 2.7% $42.96 $33.32 Orbital Engine Corp. Ltd. ADR OE $2.25 $2.44 -7.7% $4.32 $1.99 Polaris Industries, Inc. PII $129.16 $130.50 -1.0% $146.99 $83.20 TCF Financial Corporation TCB $16.49 $15.68 5.2% $17.39 $13.49 Stock Price Price Percent 52-Week Company Ticker 6/20/14 5/23/14 Change High Low ArvinMeritor ARM $14.59 $13.94 4.7% $12.95 $4.29 ADP ADP $79.45 $78.85 0.8% $83.82 $63.98 Bridgestone Corp. ADR BRDCY $18.09 $17.18 5.3% $19.17 $15.69 Carlisle Companies CSL $86.37 $84.53 2.2% $80.70 $60.34 Cooper Tire & Rubber CTB $29.83 $28.22 5.7% $34.80 $20.55 Dover Corporation DOV $90.71 $87.01 4.3% $85.93 $55.95 Intl. Speedway Corp. Cl. A ISCA $32.26 $31.22 3.3% $38.01 $29.30 Deere & Company DE $92.04 $89.98 2.3% $94.59 $79.50 MarineMax, Inc. HZO $15.85 $15.25 3.9% $17.06 $10.17 Spy Inc. XSPY $0.90 $1.06 -15.1% $2.25 $0.50 Speedway Motorsports, Inc. TRK $18.20 $18.44 -1.3% $20.75 $17.16 Universal Technical Institute UTI $11.72 $11.11 5.5% $15.16 $9.96 POWERSPORTS BUSINESS INDEX COMPONENTS INTERNATIONAL STOCKS OF INTEREST Source: Wells Fargo Securities LLC Stock Price Price Percent 52-Week Company Ticker 6/20/14 5/23/14 Change High Low BMW AG BMW-ETR 92.56 € 89.88 € 3.0% 94.23 € 63.27 € BRP, Inc. DOO-TSE $26.60 $28.89 -7.9% $31.98 $23.41 Kawasaki Heavy Industries 7012-TKS 397 ¥ 370 ¥ 7.3% 496 ¥ 283 ¥ KTM Powersports AG KTM-WBO 85.00 € 85.00 € 0.0% 84.00 € 49.70 € Michelin ML-PAR 90.33 € 89.15 € 1.3% 93.39 € 57.23 € NGK Sparkplug 5334-TKS 2999 ¥ 2720 ¥ 10.3% 2643 ¥ 1491 ¥ Suzuki Motor 7269-TKS 3201 ¥ 3003 ¥ 6.6% 2982 ¥ 2051 ¥ Yamaha Motor 7272-TKS 1748 ¥ 1555 ¥ 12.4% 1825 ¥ 1217 ¥ Yokohama Rubber 5101-TKS 949 ¥ 887 ¥ 7.0% 1312 ¥ 829 ¥ DOMESTIC STOCKS OF INTEREST HDFS to pay $228K fine