Industry News

MORGAN HILL, Calif. (BRAIN) — Specialized has laid off 7% of its workforce as the company reassess its economic position in the wake of COVID-19's impact on the world cycling market.

Tagged Coronavirus

KIRKWOOD, Calif. (BRAIN) — The COVID-19 pandemic has canceled yet another industry event: The QBP U of Q Brand Camp 2020, scheduled for Sept. 15-18 at Kirkwood Resort.

SAN DIEGO (BRAIN) — John Forester, considered the father of "vehicular cycling," died last week at age 90. 

Rich Tauer.

BLOOMINGTON, Minn. (BRAIN) — With a few exceptions, almost every bike retailer in the country has an account with Quality Bicycle Products, giving the Minnesota-based distributor a wide view of what's happening across the IBD nation.

ASHEVILLE, N.C. (BRAIN) — Cane Creek Cycling Components has resumed limited operations at their North Carolina headquarters after being designated as an essential business by the state.

Tagged Coronavirus

DOWNERS GROVE, Ill. (BRAIN) — The latest edition of the National Sporting Goods Association's annual Sports Participation in the US report showed a 1.8% increase in participation in wheel sports (which includes bike riding) last year and a 4% increase in bike riding by women. 

House and presidential agreement now needed.

WASHINGTON, D.C. (BRAIN) — The Senate on Tuesday afternoon agreed to a COVID-19 relief package that will allocate $310 billion to the depleted Paycheck Protection Program to help small businesses.

Tagged Coronavirus

WASHINGTON (BRAIN) — The Small Business Administration and U.S. Treasury Department said Friday afternoon the initial success of the Paycheck Protection Program makes it imperative that funding is approved for it to continue.

Tagged Coronavirus

WASHINGTON (BRAIN) — The Small Business Administration announced Thursday it has no more money to assist small businesses affected by the COVID-19 pandemic and can't accept any more Paycheck Protection Program or Economic Injury Disaster Loan applications.

Tagged Coronavirus

MINNEAPOLIS (BRAIN) — As the industry continues to suffer from a shortage of qualified mechanics, a new organization, the Bicycle Industry Employers Association, has established a curriculum of college-level classes, scheduled to launch in September 2020 at the Minneapolis Community and Technical College.

More and more bike brands are manufacturing PPE or making other donations to aid in the battle against COVID-19. Here are some of the reports we've received this week.

Tagged Coronavirus
Updated: Treasury secretary, SBA administrator make plea to Congress for more funds.

WASHINGTON (BRAIN) — With the Small Business Administration nearing the limit of Paycheck Protection Program loans it can issue, U.S. Treasury Secretary Steven T. Mnuchin and SBA Administrator Jovita Carranza jointly issued a statement Wednesday night calling for Congress to approve additional funding.

Tagged Coronavirus
Aimée Lapic joins company as chief digital officer.

SAN MATEO, Calif. (BRAIN) — GoPro Inc. announced a workforce reduction of more than 20% to reduce operating expenses in the wake of the COVID-19 pandemic, the company announced in a statement Wednesday afternoon.

The Paycheck Protection Program originally authorized $349 billion in forgivable loans.

WASHINGTON (BRAIN) — The Small Business Administration said Tuesday that as of noon Eastern time it had approved $253 billion in forgivable loans during the program's first 12 days.

Tagged Coronavirus
Thompson during a recent 60th birthday ride with colleagues.

NEWBURY PARK, Calif. (BRAIN) — BRAIN checked in with Giant Group's U.S. general manager, John "JT" Thompson, this week to get his view of how the U.S. industry is handling the COVID-19 pandemic. 

Tagged Coronavirus
A look at the programs as a few more bike companies join the battle.
Chris Fortune pilots the e-delivery bike.

Specialized, Santa Cruz and Saris have each revealed some details of their efforts to help the fight against COVID-19.

Tagged Coronavirus

OLATHE, Kan. (BRAIN) — In the second half of March, Garmin device users recorded a 63% increase in indoor cycling, compared to the same period the year before, the company revealed Thursday.

WASHINGTON (BRAIN) — The Federal Reserve infused the Paycheck Protection Program and others with $2.3 trillion in loans Thursday to further support small businesses in the wake of the COVID-19 pandemic.

Tagged Coronavirus

BRASELTON, Ga. (BRAIN) — Fox Factory Holding Corp. has suspended non-essential operations at its North American factories due to COVID-19. The company also has lowered its earnings guidance for its first fiscal quarter and suspended full-year guidance.

Tagged Earnings/Financial Reports
Following 60 days of feedback from the public and groups, the policy could become federal regulation.
The Interior department's proposal to allow e-bikes is under review.

WASHINGTON, D.C. (BRAIN) — The U.S. Department of Interior's policy proposal last year to regulate e-bikes as traditional bikes on non-motorized lands is now under standard review with a public comment period.

Tagged Electric bike

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