Bico: Emergency Steps

VERL, Germany (May 12) - Bico's lack of funds has urged them to take a drastic step: their 600 members received an invitation for a extraordinary member meeting on 11 May in which they have proposed an extra € 5,000 fee to be forwarded by each member. (It was wrapped as a conversion of the previous 10,000 Deutschemark entry fee in a € 10,000 entry fee). Another proposal was to pay half the annual bonus for 2002 in kind (bike products) and the other half to be withheld by Bico under a usufructary right for 12 years with a fixed annual 5% interest. The money is urgently needed to prevent suspension of payment. Bico MD Oliver Schill was not available to react on the outcome of the assembly. Dealer manager Andreas Lübeck and purchase manager Wolfgang Link have resigned from Bico, because they don't agree with the new line of business as proposed on May 11. Lübeck was the man behind the Bico-Life shop concept (which in the new line of business will be temporarily shelved in favor of the all-important wholesale function). Purchase manager Wolfgang Link shares Lübeck's viewpoint that the new Bico will loose too much of its manufacturer-to-retailer service functions. Previously, Bico dismissed its product manager Stephan Esser and its GM Conrad Greif. Coincidentally but simultaneously, Messe Cologne gave out a press release stating that Bico will be present at this year's IFMA. Bico had previously announced that it would stage their own exposition in a nearby hotel, not for reasons of lower cost but to offer their members a better trade climate than the Messe halls.(OB)