Remembering Nicky Hayden – Growing Up a Racer

Growing up in Kentucky, Nicky Hayden was a motorcycle racing protégé from an early age, but winning hasn’t come easy to the Hayden family. Over the last 15 years, Nicky Hayden has become one of the most recognisable faces in the motorcycle racing world. He’s morphed from the Kentucky Kid to an old hand of the paddock, and now the Kentucky Legend. But where did that legendary status come from? Hard work, dedication and an insatiable love of racing are the traits that have made Hayden famous, but the cornerstone has always been family and loyalty. “I grew up in Kentucky, where horse racing was really big, and my dad always jokes that with horses you’ve got to have the right bloodline,” said Hayden. “Both my mom and dad raced, so maybe he really was looking for a good bloodline!”

Ride in Peace, Nicky Hayden

It is with a heavy heart that we report the passing of Nicky Hayden today, the American motorcycle racer finally succumbing to the injuries he sustained on Wednesday, at 7:09 PM CEST. The former-MotoGP Champion was struck by a car, while he was training on his bicycle near the Rimini coast. After the incident, Hayden was ultimately treated at the trauma center at the Bufalini Hospital in Cesena, where he later passed away. While motorcycle fans around the world have been hoping for good news throughout this past weekend, and looking for signs that Nicky’s condition would improve, today Nicky’s race ended, with his family and friends at his side.

Americas Top Öhlins Dealer Pleads Guilty to Tax Fraud

Daniel Laine Kyle of Carmel-by-the-Sea, California – known best for his speed shop, Kyle Racing – pleaded guilty to defrauding the US government earlier this week, after it was found that Kyle had been hiding cash-based purchases made at this business. Dan Kyle Racing is known best for being the largest Öhlins suspension dealership in the United States (if not the world), as the company offered aggressive pricing on the Swedish-born suspension, and was one of the first Öhlins dealers with an online presence in the early days of the internet. According to the plea agreement made between Kyle and the US Attorney’s Office, Kyle pleaded guilty to tax fraud and structuring currency transactions in order to avoid the reporting requirements in the US Tax Code.

The 2017 Saroléa SP7 Is Ready for the Isle of Man TT

The focus for electric motorcycles at the Isle of Man TT may center around Team Mugen’s dual entry with John McGuinness and Guy Martin, but one should not overlook this very attractive entry from Belgium. Saroléa is back for the 2017 Isle of Man TT, continuing with its state-of-the-art carbon fiber chassis goodness and retro fairing design. On board will once again be Dean Harrison, who will be gunning for a podium-finish on the 2017 Saroléa SP7. If looks alone could get you across the finish line, then Saroléa would have our vote. The Belgians have always been in the running for a strong result though, finishing 4th in 2014 and 5th in 2015. Maybe this year will be “their year” at the TT.

India Is Now the World’s Biggest Motorcycle Market

Did you just feel that? That movement was a tectonic shift in the motorcycle landscape, as India just surpassed China as the world’s largest market for two-wheel vehicles. Just how big is the Indian motorcycle market? Last year, over 17.7 million motorcycles were sold in India. That is over 48,000 motorcycles sold…each day. Compared to China, that is a margin of roughly one million motorcycles per year (16.8 million units sold last year). India has seen a sharp rise in the sales of two-wheelers within its borders over the seven years, growing over 32% during that timeframe. Transportation in general has been growing in India, but that growth has been fueled by the country’s two-wheeler market.

The Good, The Bad, and The Ugly About Motorcycle Patents

I am really excited about the Suzuki brand right now. Out of the four Japanese motorcycle manufacturers, the recession affected Suzuki the most, probably more than many people realize, but the Hamamatsu brand is poised to bring out some exciting machines in the coming few years. Could we finally see a turbocharged Suzuki this year though? The rumor mill is pointing to yes…but just pointing, and the reason is because of patents. Much of this internet rumors stems from a flood of patents that have been found, where Suzuki is patenting technology related to turbo-powered engines in motorcycles, or because of other patents that make reference or inference to being part of a turbocharged motorcycle.

No, Royal Enfield Isn’t Buying Ducati

I woke up this morning to a message from a colleague, with a link to a story that linked Royal Enfield to buying Ducati Motor Holding. The story was from a fairly reliable news publication, but the headline read “Royal Enfield Might Consider Buying Ducati Pretty Soon” – the grammarist in me cringed.* “Might consider” is the most nebulous phrase in the English language. Let’s think about that phrase for a moment, as it literally means that you are considering the possibility of considering something. Don’t get me started on the timeliness of “Pretty Soon” in the news realm, as well. Metaphysics and meaningless headlines aside, for our purposes this narrative devolves further in that this story offers nothing new, beyond the story that Reuters published two weeks ago, which set off alarms in the motorcycle industry around the world.

KTM Caught Testing an Electric Street Bike

Spy photos from Austria have caught KTM testing a rather interesting motorcycle – one that does not run on a petroleum-based fuel, but rather it has an electric drivetrain at its core. This isn’t the first time that KTM has experimented with an electric motorcycle, of course, with the KTM Freeride E being available in select markets. However, the machine seen here is a pretty big step forward for the Austrian brand, from its modest electric dirt bike. Using the chassis of a KTM 390 Duke to house the battery, inverter, and motor, KTM’s electric street bike (we’ll call it the KTM E-Duke for now) looks like a rolling mess, but is what you would expect from a project in its early stages of development.

For the Geeks, Your Luke Skywalker HJC Helmet Is Here

I am a solid Star Wars geek, but not in the dress-up and go to a convention sort of way – if you know what I mean. But, this new lid from HJC might have me singing a different tune, as it mimics Luke Skywalker’s X-Wing “Red 5” fighter helmet, in a DOT legal ¾ helmet format. That’s just cool…in a really un-cool sort of way. Based off the budget-friendly HJC IS-5 helmet, this Luke Skywalker replica will cost roughly $180 when it comes out (at a date still to be determined). Additionally, 10 versions of the lid will be signed by Mark Hamill, and auctioned for charity (UNICEF and the Starlight Children’s Foundation), if your geekdom takes you in such a direction (and you have a four-figure wallet).

Hayden: “It’s Clear That There Is A Problem”

Assen had been earmarked as a key round for Honda in its search for competitiveness in WorldSBK. It passed with more confirmation that the team’s struggles will continue. Nine points were all that Nicky Hayden had to show for himself at the end of a trying weekend at the TT Circuit of Assen. The Honda rider was able to show some signs of improved competitiveness at times during the weekend, but overall the same flaws of the Honda Fireblade have been exposed once again. Reliability and inability to bring competitive upgrades to the table cost Hayden dearly at Assen. The week before the Dutch round, the team tested a new engine specification in Portimao and the American came away disappointed with a lack of progress.

Dorna Sports Fined For Tax Evasion

03/01/2016 @ 3:36 pm, by David Emmett5 COMMENTS

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The Spanish Supreme Court has imposed multi-million dollar fines on Dorna Sports and its executives for tax offenses arising out of the sale of shares in 2003 and 2004.

The court found that Dorna CEO Carmelo Ezpeleta and COO & CFO Enrique Aldama had simulated the sale of shares in order to avoid paying income tax and to receive undeclared dividends from the shares the two men hold.

The ruling of the Division of Administrative Litigation of the Supreme Court was that Dorna Sports S.L. sold shares to a separate company owned by the same partners (including Ezpeleta and Aldama) who were selling the shares.

The share purchase was financed using debt held in part by the partners who owned the company buying the shares. Dorna claimed that this was a form of leveraged recapitalization, but the Supreme court disagreed with that assessment.

In reality, the Supreme Court ruled, Dorna and its executives were pursuing a means of receiving hidden dividends.

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April Fools: IRS Makes Helmets Tax Deductible on 2014 Return

04/01/2015 @ 7:25 am, by Jensen Beeler23 COMMENTS

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If you’ve already filed your 2014 tax return, you might want to make an addendum before April 15th, as the Internal Revenue Service (IRS) has made several last-minute exemption to the US Tax Code, one of which allows motorcyclists to claim up to $500 on a new helmet purchase as tax deductible.

The move comes about after a report by the Centers for Disease Control and Prevention released a study that suggested billions of dollars could be saved if all motorcyclists wore helmets.

Citing the efforts of groups like the  American Motorcyclist Association (AMA) whose anti-helmet political agenda has resonated the most with the same anti-tax libertarians who routinely fail to pay federal income taxes, the IRS has finally decided to fight fire with fire, and believes it has effectively found a way to bring a non-compliant tax group in line with the law.

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Marco Melandri Convicted of Tax Evasion in Italy

10/26/2012 @ 10:17 pm, by David Emmett3 COMMENTS

Marco Melandri has been given a suspended jail term of one year and seven months for tax evasion by a court in his home town of Ravenna. Melandri was found guilty of trying to evade taxes during the period he lived in Derby, in the UK, the court finding that Melandri’s residence for tax purposes should have been in Ravenna, Italy, Melandri’s home town.

Melandri was a resident in the UK to take advantage of the British non-domiciled resident status, which allows wealthy non-UK citizens with large incomes from sources outside the UK to avoid paying tax on that income. Melandri was one of several riders who had elected to have their residence in Britain for precisely that reason.

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Harley-Davidson Turns Down $25 Million Tax Credit

11/15/2010 @ 8:56 am, by Jensen Beeler15 COMMENTS

Two months ago when Harley-Davidson stuck an ultimatum to its union workers, the company asked for work force concessions while it threatend to move production out of its Tomahawk and Menomonee Falls. Hoping to help sway the vote and keep Harley put, the State of Wisconsin extended Harley-Davidson a $25 million tax incentive to help lure the company into keeping production at its Wisconsin facilities. While the unions eventually caved to Harley-Davidson’s will, the Bar & Shield company announced today that it will not be taking Wisconsin up on its offer for tax breaks.

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Capirossi Loses Appeal – Must Pay €2 Million Fine

05/19/2010 @ 5:54 pm, by Jensen Beeler3 COMMENTS

There must have been someone going around the MotoGP paddock many years back, handing out bad financial advice to any rider they could find, because Loris Capirossi is now the second MotoGP rider (that we here at A&R can think of), that’s been slapped with an income tax evasion fine in the past few years. Capirex, like Valentino Rossi before him, has found himself on the wrong-end of the law, after losing an appeal to his charge of income tax evasion, and accordingly must pay a €2 million fine for his actions.

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Rossi Sued for Outstanding Accountant’s Bill

09/17/2009 @ 11:46 am, by Jensen BeelerComments Off on Rossi Sued for Outstanding Accountant’s Bill

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UPDATE: The Italian Order of Accountants has ruled against Rossi, who now has 40 days to appeal their decision.

After settling an unpaid tax-debt with the Italian government in 2008, Valentino Rossi paid nearly €30 million in back-taxes with the help of accounting firm Cesaroni-Cappellini. The firm saved Rossi nearly €150 million, and was entitled by contract to ~1% of the MotoGP star’s savings.

Doing some quick judo-math, that’s nearly a €3 million tab (€1.7M-€2.5M to be exact) that Rossi has racked up at Cesaroni-Cappellini, and according to the firm Rossi has yet to actually pay them for their services.

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Federal Stimulus Makes Motorcycle Purchases Tax Deductible

02/19/2009 @ 8:48 am, by Jensen Beeler3 COMMENTS

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The Federal stimulus package signed into law yesterday is laddened with initiatives designed to help boost our nation’s economy. None of these provisions, however, will affect the die-hard motorcyclist more than the provision, which allows motorcycle buyers to deduct the sales and excise taxes on their 2009 tax return. Yeah, you really just read that. If you buy a motorcycle under $49,500 and subject to certain restrictions, you can take the tax portion of the OTD price and subtract it from your tax statement next April 15th. How much a buyer benefits will depend on the taxes paid and their personal tax situation, but it the case of your typical sportbike, that’s still nearly a grand off your taxes.

Motorcycle dealers counting on a big boost will not find it here and would be far better served by concentrating on building their business and delivering excellent customer service.

 

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