BikeBiz Bicycle and cycling retail news

Bigha's John Acres speaks to BikeBiz.com about Giant's $252k court win. Giant had sued two of the former investors of the BikeE recumbent company, including Acres. Giant won the breach-of-contract trial in late February. Here Acres speaks for the first time in public about the lost case. He also talks about a second lawsuit, a multi-million dollar claim for compensation against Giant. The first case was heard in front of a federal judge, the second suit will be placed before a jury.

"From 6 April 2005, the rules for calculating the value of the benefit in kind that arises where an employee purchases a computer or bicycle that has previously been loaned to an employee by the employer will be simplified." So says the small print in today's budget.

Steve Down, the English general manager of the Kryptonite Corporation of America, is facing the media this week. He's painfully aware that September 2004's Kryptonite vs Bic problem is the "poster child" for the power of internet chat-rooms to influence corporations. Kryptonite was on the receiving end of thousands of online complaints, starting on bikeforums.net. The company has recently settled one of the class action suits filed against it in the US and Canada.

Before pulling the plug on its MTB race team in 2001, Raleigh had a 110 year pedigree of sponsoring bike whippets. Sponsorship of the Diamondback team fizzled out in 2002. Now the company has returned to is roots and is sponsoring an 11-strong team.

Fast Company magazine has picked Mark Dwight as one of its 'Fast 50 for 2005' business leaders in the US magazine's fourth annual review of the "leaders to watch for in business." Many Timbuk2 courier bags are still sewn by hand in San Francisco, with the new lines - such as top-selling iPod bags - made in China.