NEW ROAD RACING SERIES FOR 2009 ANNOUNCED

The Motorcycle Industry Council (MIC) reported it plans to launch a new professional road racing series next year in the United States. The MIC has formally established United States Sport Bike, Inc., (USSB) and is already at work on creating a national championship for 2009 that will take place at major racing facilities, feature factory super bike teams and rules similar to those now in place – rules that encourage technological development that advances motorcycle engineering, an MIC spokesperson explained. “The USSBSM Championship is being designed to carry on America’s tradition, spanning more than two decades, of world-class super bike racing that showcases the nation’s best riders on the best motorcycles in the country,” they stated. MIC President Tim Buche added, “We initiated USSB because next year it will offer the only racing series in America for unrestrained factory super bikes and their teams, as well as those who aspire to join their ranks and compete with them.”

MICHELIN WON’T SUPPLY MOTOGP TIRES

“Michelin has decided not to submit a bid to the governing body of the MotoGP World Championship,” informed spokesperson Sherri Martin, who continued by saying, “At the same time, Michelin regrets not being able to contribute to the organizers’ important discussions to improve rider safety and reduce costs.” The MotoGP Championship organizers reportedly decided to use a single tire supplier for the coming seasons, which is said to have eliminated the competitive environment of the event for tire manufacturers. “The R&D resources dedicated for MotoGP will be reallocated to support innovation, which is at the heart of Michelin’s customer-focused strategy,” Martin added.

SMITH TO LEAVE S&S

As S&S Cycle heads into its 51st year of business, company president, Brett Smith, announced his resignation, effective Dec. 1, 2008. “It has been an honor serving as a steward to our family business the past 6 1/2 years,” said Smith, “I am confident the measures we’ve taken over the past several years with respect to new products like the X-Wedge, our dealer development efforts, rapid international sales growth and a clear focus on emissions related efforts have set a solid foundation on which to build over the next decade.” Chairman George Smith will reportedly reassume the role of interim CEO and lead the company as Brett transitions out of the presidency.

TOP 1 OIL SETS LAND SPEED RECORD

Top 1 Oil spokesperson Anne Szczesny told us, “After five days of pushing their streamliner motorcycle to new limits on the salt flats of Bonneville, the Top 1 Ack Attack team achieved what it came to do – topple the existing absolute FIM motorcycle land speed record with a blistering 360.913 mph run.” The new record was witnessed by an FIM official onsite, but it is still subject to FIM ratification, Szczesny explained.

PAISANO APPOINTS NEW CEO

Joe Teresi announced he has named John Lagana to succeed him as publisher and CEO of Paisano Publications, which publishes Easyriders, V-Twin, Biker, In the Wind, Tattoo, Tattoo Flash, Tattoo Savage, RebelRodz and Amusin’ Krusin’ magazines and industry newspaper V-Twin News. The company also promotes the V-Twin Expo, the industry’s largest V-Twin trade show, a company press release explained. It told us Lagana comes to Paisano with over 20 years of experience in senior management positions at well-known magazines including Forbes, Rolling Stone, Maxim and The Week. “We are very pleased that John Lagana has agreed to join the Paisano family,” stated Teresi, who added he and his wife, Ellen, will continue to serve as chairman and vice chairman but will be retiring from the day-to-day business to pursue more leisurely interests.

FACT RED FLAG RULES

Three new Fair and Accurate Credit Transactions (FACT) Act regulations, referred to as the Red Flag Rules, go into effect Nov. 1, 2008, an online news site reported. “According to a Business Alert issued by the Federal Trade Commission in June 2008, the Red Flag Rules apply to a broad list of businesses, including ‘financial institutions’ and ‘creditors’ with ‘covered accounts’,” the site explained. A creditor is reportedly defined to include “lenders such as banks, finance companies, automobile dealers, mortgage brokers, utility companies and telecommunications companies.” The regulations apply to all businesses that have “covered accounts,” which includes any account for which there is a foreseeable risk of identity theft. The site stated the three new regulations inlcudes “one that requires financial institutions or creditors to develop and implement an Identity Theft Prevention Program in connection with both new and existing accounts; another that requires users of consumer reports to respond to Notices of Address Discrepancies that they receive; and a third that places special requirements on issuers of debit or credit cards to assess the validity of a change of address if they receive notification of a change of address for a consumer’s debit or credit card account and, within a short period of time afterward they receive a request for an additional or replacement card for the same account.”