Warren Buffett poses on a motorcycle at the Burlington Hathaway annual meeting in May, 2008. Berkshire’s Geico subsidiary was promoting its motorcycle insurance.
The money will be used to support Harley’s finance company and its “ongoing motorcycle lending activities.” (If a buyer can’t get a loan, it’s harder to buy the bike.), according to cnbc.com.
Harley-Davidson shares gained 15 percent on the news closing at $13.73, but way down from the 52-week high of $48.05.