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Finance committee The U.S. government has a tax holiday for state and excise sales tax on recreational vehicles up to $50,000. That can save, depending on the price of the vehicle, typically upwards of 7% or 8% on the purchase price until the end of the year. Secondly, the U.S. government is con
April 30th, 2009Committee meeting
Jeff Hanemaayer
Finance committee Specifically, it was a recommendation to the CSCF program to include dealer floor plan, which at this stage the government is not including. That particular program is being managed by BDC. We have, as a more general recommendation, suggested that BDC, whether it be under the CSC
April 30th, 2009Committee meeting
Jeff Hanemaayer
Finance committee Bombardier is no longer in the business, so I don't quite understand how---
April 30th, 2009Committee meeting
Jeff Hanemaayer
Finance committee Bombardier is no longer in business. It was bought by GE.
April 30th, 2009Committee meeting
Jeff Hanemaayer
Finance committee I'm sorry, you mean Bombardier manufacturing; I thought you meant Bombardier financial.
April 30th, 2009Committee meeting
Jeff Hanemaayer
Finance committee Would it be in Bombardier's interest to set up a finance business? You'd have to ask Bombardier.
April 30th, 2009Committee meeting
Jeff Hanemaayer
Finance committee I'm a little at a loss as to why we would suggest Bombardier manufacturing--
April 30th, 2009Committee meeting
Jeff Hanemaayer
Finance committee The gentlemen from TAG said their model basically only supports their own organization, so I don't think they'd be interested in providing financing.
April 30th, 2009Committee meeting
Jeff Hanemaayer
Finance committee We have not considered that. We would need capital sources. That's the key. Typically we're in the business of either manufacturing or retailing RVs, not in the business of acquiring capital to finance large loan portfolios.
April 30th, 2009Committee meeting
Jeff Hanemaayer
Finance committee As was mentioned earlier, BDC's current mandate does not include RV dealer floor plans. That's one of the changes we'd like. To say how well they worked, then, for us really doesn't apply. Perhaps I can add a comment to an earlier question to Jeff. In terms of interest rates for
April 30th, 2009Committee meeting
Jeff Hanemaayer
Finance committee That's correct.
April 30th, 2009Committee meeting
Jeff Hanemaayer
Finance committee Currently the Bank of Montreal is fairly involved in RV floor plan financing--they're the example I mentioned--but it's restricted to dealers that they've had long-time relationships with. Like the other banks, they're really not interested in offering more lending to the segment
April 30th, 2009Committee meeting
Jeff Hanemaayer
Finance committee You're asking about retail financing now, not the wholesale financing that I've been mainly speaking about?
April 30th, 2009Committee meeting
Jeff Hanemaayer
Finance committee Are you going to answer this question, Pierre?
April 30th, 2009Committee meeting
Jeff Hanemaayer
Finance committee As the CSCF is currently written, it does not include the RV dealer floor plan as a form of a loan that can be used for the asset-backed securities. It only includes loans and leases for vehicles and equipment. It does not include RV floor plan inventory.
April 30th, 2009Committee meeting
Jeff Hanemaayer