Industry News
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.
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.
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.
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.
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.
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.
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.
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.
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.
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.
Specialized, Santa Cruz and Saris have each revealed some details of their efforts to help the fight against COVID-19.
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.
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.
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.
FRIEDRICHSHAFEN, Germany (BRAIN) — The organizer of the Eurobike trade show says he is still uncertain whether the trade show will be held as planned in early September, and said the show has dates in late November reserved as a "Plan B" in case the COVID-19 crisis forces a postponement of the September show.
SALT LAKE CITY (BRAIN) — Some event news as the COVID-19 shuffling and re-shuffling continues: CrankTank's Impact media event tied to the Dirty Kanza 200 gravel race will move, with the race, to September.
VALLEJO, Calif. (BRAIN) — Former Cannondale coworkers Stephen Cuomo and Kevin Wren are getting the gang back together at Wren Sports. Cuomo is joining the company as vice president of sales.
CHICAGO (BRAIN) — SRAM, Thule and Aventon have joined a growing group of industry brands making or donating masks for COVID-19 responders.
Employees at SRAM's Zipp facility in Indianapolis are now making masks for hospitals in the area.
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