According to Lamar, Stallings periodically called him prior to and during the Preference Period to inquire about the status of Schwinn’s financial condition. 8, p. 32 (line 1); p. 33 (line 8). Lamar provided Stallings with as much information as he knew, such that Schwinn was attempting to secure an infusion of investment capital. Id. at p. 37 (line 15)-p. 38 (line 1); p. 39 (lines 5-15).
Schwinn was, however, able to recruit an up-and- coming rider named Lance Armstrong to its ranks. This was a no-expense-spared project of Frank W. Schwinn, who wanted the bike to be introduced in 1938. It was an unqualified success, other than that it was very expensive to produce and showed little if any real profit potential. Sponsorship of 6-day riders produced a team to showcase the Paramount, the riders such as Jerry Rodman (The Michael Jordan of that time in Chicago) and the rest of the Schwinn Co. bicycle line.
Findings, p. 14. The doctrine should not be applied “where there is only an appearance of inconsistency between the two positions but both schwinn dealers may be reconciled.” Matter of Cassidy, 892 F.2d 637, 642 (7th Cir.), cert. Denied, 498 U.S. 812, 111 S.Ct. 48, 112 L.Ed.2d 24 (1990).
According to Thorholm, this was a departure from past practice, because Murray and Lamar normally did not become involved in payables issues at Schwinn Bicycle Co. Based on his discussions with Lamar and Murray, Thorholm testified that he was concerned that the Defendant would not ship anymore product to Debtors unless the Debtors sent some payments to the Defendant on the outstanding invoices. Debtors’ payables situation during the Preference Period was very poor; most vendors were not being paid. According to Thorholm, collection calls on the part of a vendor could cause a vendor to get paid ahead of other vendors. This was a period when the squeaky wheel did indeed get greased. As a result of his discussions with Lamar during the Preference Period, Thorholm caused the Debtors to send payments to the Defendant on outstanding invoices during the Preference Period in order to keep shipments coming from the Defendant.
The Sting-Ray[28] sales boom of the 1960s accelerated in 1970, with United States bicycle sales doubling over a period of two years. However, there were clear warning signs on the horizon. In the late 1960s, the Varsity and Continental pioneered the use of auxiliary brake levers, which allowed the rider to rest hands on the straight, horizontal center section of the ram’s horn handlebars, yet still have braking control.
Schwinn decided to meet the challenge by developing two lines of sport or road ‘racer’ bicycles. One was already in the catalog — the limited production Paramount series. As always, the Paramount spared no expense; the bicycles were given high-quality lightweight lugged steel frames using double-butted tubes of Reynolds 531 and fitted with quality European components including Campagnolo derailleurs, hubs, and gears. The Paramount series had limited production numbers, making vintage examples quite rare today. Other road bikes were introduced by Schwinn in the early and mid 1960s, such as the Superior, Sierra, and Super Continental, but these were only produced for a few years. The Varsity and Continental sold in large numbers through the 1960s and early 1970s, becoming Scwhinn’s leading models.
The Circuit noted that courts are bound by 28 U.S.C. § 1961 when awarding post-judgment interest, but “prejudgment interest is governed by federal common law, and the courts are free to adopt a more discriminating approach.” Id. at 437. See also U.S.A. Diversified, 193 B.R. Since the Committee established each of the prima facie elements of a preference under § 547(b) as to each of the transfers, the burden shifted to Defendant to prove its affirmative defenses, subsequent new value, and ordinary course of business. 11 U.S.C. § 547(c)(2) and (4) and 547(g). During the Preference Period, Schwinn made 33 payments to True Fitness totaling $313,357.73, and True Fitness shipped a substantial number of treadmills and parts to Schwinn, including many in the 10-day period immediately preceding the Petition Date.
Most models of Schwinn bikes have years of images and information via old catalogs, advertisements and Schwinn documentation. This site gathers and preserves such documentation. This page lists Schwinn bicycles models (sorted alphabetically) and links to their details. You can also sort Schwinn bikes by year here.
The “Distribution Centers” were actually subsidiaries of Schwinn Bicycle Company; namely, Schwinn Sales East, Inc., Schwinn Sales Midwest, Inc., Schwinn Sales West, Inc., and Schwinn Sales South, Inc. The August 25, 1989, modification of the Letter Agreement also specified, “Terms of invoice will be net 30 days from date of shipment. Schwinn schwinn beach cruiser Bicycle Company will remain liable for payment.” Id. A service contract is the best way to extend the life of your equipment and keep your facility safe, but we understand that a contract may not be feasible. We offer on-site repairs and preventive services when needed. Complete our online Service Request Form to request an appointment.
Furthermore, to prevail on an ordinary course of business defense, a preference defendant must prove all of the elements of the defense. Midway Airlines, 69 F.3d at 797. As a result, the appropriate method of valuing the Defendants’ alleged subsequent new value defense yields a reduced preference exposure of $107,152.76. In sum, the judicial estoppel doctrine does not apply here because the Committee has not taken inconsistent positions and the facts at issue were not the same as at the insolvency trial.