Cannondale shuts down

[gncc400exxx]

just read this on racerxill.com



January 24, 2002

Cannondale Shuts Down

Racer X has learned that the Cannondale motorcycle project may be over. The company closed its Bedford and Bethel plants, in Pennsylvania, today, marking the end of production on motorcycles and quadcycles, as well as the bicycles that come out of those buildings. The ambitious Cannondale motorcycle project had been troubled from the start, though it appeared they were turning a corner recently, especially in the quadcycle market. However, several calls have come in from people close to the company saying that Cannondale did not make the payroll this week and had shut its doors. We will let you know more on this breaking story.

[TC17]

you can't be serious? :eek: :(

[Ryan]

That sucks, I thought it was just a rumor? :(

Thats a low blow for Atvs...

[DGR Designs]

dangit. they would still be around if they had priced there quads lower i bet

[NTPracing22]

:eek:

[gncc400exxx]

don't shoot the messenger ,just letting you know what i've seen

[rookiex]

No way.

[lil400exman]

well i wont have any competition from them for a few seasons until honda realeses there new quad but it helps the quad industry it sounds weird but it will........................if you wanna hear how post askin why................

[400exBro]

please tell me this a joke !!!!!!!!


noooo my dream has just hit rock bottom!!

[kicker696]

y and how will this be better for atvs?

[lil400exman]

well if some of you heard of a car company named tucker? well we will call c-dale tucker, and honda suzuki kawasaki polaris and yamaha-gm

well tucker made great cars way ahead of there time the cars were bulit in the 30's and were equilvelent to what maufactuers like gm were buliding in the mid-70's.well only rich people could afford tucker cars so they couldnt make a whole lot but they tried and they eventually got down until the normal market could buy it and it lost what made it really famous.so seeing this gm startsw making there cars and stuff cheaper better options for the money and made differnt models so people got the best for the money so tucker was drove out cause they could get a little less machine but better price and nicer features too that is what happened to c-dale they kind of cut off the own market by making them so expensive too i know it costs alot to make but if they did sell more they could make up ther difference so they didnt make the best descions but they tried and i give them kudos for that

pj!;)

[lil400exman]

also i forgot part of my story

see tucker was so far ahead of gm that it was realeasing their sercret things too early so the enigineers couldnt come up with stuff quick enough and good enough improvements to be a match so when they got just so far they couldnt go really that much farther but see japanese manufactures are smart and orcherstrating to get this stuff out right at the right time to make it work out right......................

[400exBro]

so does that mean there is hope????

[Tainted Glory]

ive been talking to dealers around here. honestly, its more than likely a fact. it turns out, i talked to four dealers. one dealer has sold 2 cannondale atv's since 01. one dealer sold 1 since 01. two havent sold a SINGLE quad since 01. these dealers have left over 02's and after they get rid of the ones they have now, they're done. sure cannondale's a great company, but their target audience is WAY WAY too small. it is a blow to the head for the atv industry mainly because it will discourage other manufactorers from producing new high performacne quads.

[LapTraffic]

BUSINESS 101 LESSON.

If it cost more to make a bike then what you can sell it for; then the more you sell the more in the hole you go. Read their financials.

The solution is not in selling them for less, they need to cut their production cost to increase their margin.

The market would not bear a quad priced higher than the entry level cannibal, it barely supported that, and they lost money on every sale.


Cannondale makes a great bike, it's far greater than anything the big 4 is regurgitating. They'll get picked up, but under new management I think you'll be seeing a bit more disparity in the product lines, the cannibal has to be cheapened up, both in the production area and in the retail side to be trull competitive.Or youll see an entry level quad with 'some' of the features, eliminate the canninbal and speed and keep the high end stuff.

anyway, that's my non educated take.

[Tainted Glory]

in my opinion this is what cannondale should do to save themselves...make themselves a limited production quad. have one small factory that builds quads as people order them. then, after the initial order is placed, two weeks later, Cannondale ships the quad to the buyer. sort of like ferrari.

[Atreyu]

Somebody should buy them:square :square :square

[Knight440]

isn't this old news i though that happend weeks ago?

[Knight440]

Originally posted by Tainted Glory
in my opinion this is what cannondale should do to save themselves...make themselves a limited production quad. have one small factory that builds quads as people order them. then, after the initial order is placed, two weeks later, Cannondale ships the quad to the buyer. sort of like ferrari.


I agree:D

[GT300]

Looks like you c-dale riders will be sort of like the tecate 4 owners. Sucks big time.

[Lo flyer]

Hey give them props for giving it a big time shot :D :D :D They were dudes like us trying to make a hoter faster and better quad out of the box. Long live C-Dale.:cool: :cool: :cool:

[raptor_02]

Cannondale quads will continue to be made. Someone may buy them out or Cannondale may just be shutting down temporate time. I sure hope they don't shut down :(

[R-Crazy]

this sucks, especially because any problems found out will have to fixed by your self. also, there will be no way to get stock stuff, AND the aftermarket for them is so little, it will all go away. NOOOOOOOOOOOOOOOOOOO

dave

glad i kept the 400 , id be angry to buy a c dale and have that happen

[markeg192]

I heard Harley was maybe buying them out. How do you think that would effect thier prices?
They couldn't price thier quads lower since they are more expensive to build. Performance costs money. Most people would rather pay $5300 for a 400ex and make thier choices what mods to do with the other $1700.
Hopefully all those who have Dale's wiil still be able to find parts.

[LapTraffic]

Im not angry at all and I bought mine last month, if I had the cash Id get a second one right now.

Why support mediocrity?

[TeamC&GRacer]

i dont think that the cannondale "product" will die out, but the cannondale name will die out. cannondale will either be bought out or they will start a new company under a different name and try to fix the problems they had financially with the old company. I belive they will try to reduce the cost of their manufacturing and keep the msrp down to attract more buyers with the quads performace but not scare the buyers away with the price tag.

[rookiex]

I want to know.Will stock or after market parts still be out??Would it still be worth getting a dale?

I HATE CANNONDALE!!!!!!!!!!!!!!!!!!!!!!!!!!!
Just kidding

[Sporttrax400ex]

Man this ****ing sux i just bought a damn cdale last week now the price value is gonna drop. This sux 4 cdale owners i guees. Now i am thinkng of saling it if i can:mad: :mad: :mad: :mad

[QuAdRaCeR244]

:eek: :( :mad: :huh Oh well Honda is better!lol, Canondales are ok :eek: :( :mad: :huh

[NTPracing22]

Cannondale his the tracks and dunes by storm, much like the 250r. The 250r still has parts being made for it, the c-dales always will too. if youd on't think so...then open a shop with cannondale parts. :D

[Leo]

I thought this was a big rumor?

Leo

[Guy400]

Originally posted by Leo
I thought this was a big rumor?

Leo It was until Friday when Cannondale told their employees there's no paychecks for the week:(

[roostfrom250ex]

This was in my local paper this week.
I think it was thursday.

[KrazyKid300ex]

if you people want cannondales you might have to come to where there are manufactured. Bethel CT. this is where they are made and i think you can buy them from them. idk im about a hour away from them.

That article says that those who lost thier jobs are getting them back..?

[AlaskaSpeed]

Originally posted by Sporttrax400ex
Man this ****ing sux i just bought a damn cdale last week now the price value is gonna drop. This sux 4 cdale owners i guees. Now i am thinkng of saling it if i can:mad: :mad: :mad: :mad

Quit yer whining....lol. I highly doubt you have the forsight to buy a Cannondale or ANY quad for it's resale value....that is pure bs....

If ya get really desperate to sell, PM me and I will take your worthless quad off your hands cheap...I mean since the value is so depleted now....lmao

[DEAL]

Wouldn't the value go up?
Like what happend with 250rs.

[Rastus]

That's what I was thinking.

[lil400exman]

long live 250r's.....................muaahhhhaaaa!

[Tainted Glory]

value going up isnt likely. if cannondale is finished, stock parts will become scarce. the r is still running strong becuase hondas still around. by law, if a company is still in business and dicontinues a model, they are required by law to make replacements parts of another 7 years. in cannondales case, they arent cutting a model, they are closing the entire motorsports division. im going to wait only 2-3 months and see how this plays out before i buy my quad. cannondale raised the bar in atv's and its a shame to see them go,

[Rip_Tear]

Hmm, funny this post is after the other post about buying a C-Dale... I bet they will be back, there will be a big article about them in the ATV mag's before they go right out of the picture!

[Sick0]

Thats paper say there where slow, and had to lay off poeple. But they said there were going to recall some of them back. So i would think there where staying a float.
I'm layoff right now, Thats doesn't Mean the County Concreate is going under. I'm not saying thats it is good either.

[ZMAN]

mabe the people that built cannondales will go to work for honda:rolleyes:

[Tommy 17]

Originally posted by KrazyKid300ex
if you people want cannondales you might have to come to where there are manufactured. Bethel CT. this is where they are made and i think you can buy them from them. idk im about a hour away from them.


they are not made in ct they are made in bedford pa!!!

not good:grr i was thinkin maybe i would get one sooner or later
anyone wanna trade 1 for a nice 250R?

[Pappy]

i wouldnt be surprised if the file bankruptcy....regroup and be back up and running in a few months. i think the amount of capitol they laid out in development etc. caused this. if they can reorganize under bankruptcy they should have no problem pulling thru this.

on the other hand.....anyone wanna go up there for the big closing sale:huh

[killed300ex]

Originally posted by Pappy

on the other hand.....anyone wanna go up there for the big closing sale:huh


Ill go but only if you buy me a cdale. lol i hope they pull through, cause it would stink to see a company that revolutionized the atv world die cause they arent selling anyhting
killed

[400exBro]

ooo i think they are selling...

but the one thing that bothers me too see was that it was an americain company......!!!!!!

does japan rule the off-road game???? i sure hope not!!!!!! America has the technology and strength to build state of the art bike and atvs, what is holding them back.... Japan???

come cannondale step up i will support you if you are able to get back up off your feet and look the ricers in the face and say we can do it!!!!
and i will be there, and buy a cannibal....



(no offense btw to anyone)

[lil400exman]

hey just buy a 250r mod it with a engine and shocks and you'll be beatin other quads for years!!!!!!!!!!!!:D

[Predator36]

Originally posted by 400exBro

does japan rule the off-road game???? i sure hope not!!!!!! America has the technology and strength to build state of the art bike and atvs, what is holding them back.... Japan???



(no offense btw to anyone)

Its called business 101, the high cost of labor in the US allows us to have enough money left over after our needs are met to allow us to ride ATVs and Motorcycles evenings and weekends. Even the Japs understand this. That is why a large percentage of the complex parts for a Jap bike (gears, cylinders, seals, and much more) comes out of Tiawan where the cost of labor is low. Do a little research and you may not find this but spend a little time overseas in the right places or check the containers that are coming into the plants that the Japs have here in the US and you will be shocked at how little is built in the US. This is not a bad thing unless you have your head in the sand and are willing to pay extra for US only made products. We have the technology on most things, Japan has us beat on a few, but our efficiancy sucks.

Example: Watch the machine that assembles the V-Force reed cage (not in the US by the way) and then ask any American company to quote you a price to do this and you will quickly see the problem.

Needless to say I have a lot of respect for Japaneese buisness but think we have the ability to beat them if we choose to take the steps to do so.

[joeroadking]

I do not think you have heard the end of DALE yet , they will likely sell there motorsports division, lets be honest the quads are top notch, some of the best but there mx bikes leave a lot to be desired,and are not even in the same league as bikes like cr250 and ktms etc no flame just my opionion And I think they will never see dollar one with the two wheelers unfourtantly bussiness is all about the numbers, regardless of how good the product is , I like many others have wanted a dale but have been waiting to see if something like this happens, I like the fact thati f I need parts for the honda 250r they are very avail and cheap **** you could build 5 250rs a week just from parts on ebay, It is a dissapoint they show so much promise, and what a product they built trutthfullyway ahead of its time, and people are slow to embrace change, the alum chassis,programable mapping,unconvential looking powertrain, and price is this a atv or a ferrari ? do i have to pull the motor to adjust the valves ?what do they mean it has no carb?, no company can sell atvs at a loss and stay in bussiness.I personally like to know that with the exception of machine shop work I can personally fix all aspects of my 250r or 400ex for that matter with basic tools I, no laptop required, and I am sure this stuff all though clearly a step in the right directions scares the average sport atv guy, I hope they pull threw ! I have much respect for the company and was not trying to flame at all just laying the facts out as I see them.

[Jnine]

Cannondale in not done, they are simply getting a new parent company. In reality this is a good thing because now they have the capital to make some of the changes they need to, reorganize, and they will come back more competitive than ever. Believe me, I feel much better about the future of Cannondale and their ATVs today than I did 3 days ago.

As for the post about the high input cost on engines made in the US, you are right. I believe the dealer cost for the CDale engine is $5400! That has to change and it will. Every other ATV engine that I can think of is manufactured overseas, and I would not be afraid of a CDale engine manufactured overseas either. It's all in the workforce training & quality standards. I don't think anyone can doubt CDales dedication to building the very best product they can design. THey certainly put in a h**l of a lot more effort than any of the other ATV factories! Lets face it, the workmanship on the 400EX would NEVER make it into the CR or YZ lineup. Cannondale raised the bar for everyone in the ATV game.

As for the injection, better get used to it guys. Injection is a very efficient way to manage fuel intake/exhaust, and that means lower emmissions. The guys that love a good 'ol simple carb may want them forever, but the head-in-the-sand thing is a short term prospect. Fuel injection will become the standard someday because of the reduced emmission. In fact, I am going to another new model intro tomorrow for a sport/utility machine, and this model has fuel injection also. Cannondale showed it was a viable option, along with the aluminum frame.

I would expect some big announcments from CDale in the next week or so about the changes in store. We'll know more about their future then, but they are still in the game, and they will be better than before. If you want proof, they are hitting the Indy dealer show next month, and they are getting models lined up for that now.

[AlaskaSpeed]

Great points, John....thanks for replying. Anyone that knows anything is not concerned about the sky falling with Cannondale. I wouldn't trade mine for anything, it is the best quad I have ever owned. JIM

[Tainted Glory]

if cannondale wants to make it the 2nd time around they have to change. first off-advertising. they should pay off dirtwheels like suzuki and get great reviews. honeslty, they should advertise in mags as well. 8 out of 10 people have never heard of cannondale. once their name is well known, the business will rise dramatically.

they do magazines, there is always a page in the back

tv is key, 2 years ago it was rare to see quad or dirtbike commercials but now the big 4 all have em, soooo c dale needs to do it, throw in some clips of mx and gncc racing and stuff

oh yeah, if u rember c dale won every category but the old farts at dirtwheels picked the z 400 becuase it was easier to trail ride:huh

[OG350]

Just remember this that foriegn sweatshops will never beat our american quality.

[ridesa00400EX]

i might just have to go buy me a cannondale. the prices are gonna drop big time. only prob is, gonna be hard to find parts for

[Evan]

JMO- I think cdale made to many models to begin with, they should have improved on the FX400 like they did and left that as their only model at least for a couple years and kept the price as low as possible. The general public will pay up to a certain amount for a ATV, 6500 is about it, any higher and it better have mondo features. Also too many models, they could have had 2 at the most, have the cannibal and the moto and thats it. The cannibal and speed are to simliar, the glamis?? Im sorry there may be duners but not enough to make a dedicated ATV for.. The blaze-10k for a woods racer:huh I dont see many sold as long as people are wining on nearly stock 400exs. JMO

well alot of people bought the stuff, also i think the top pro level gncc quads cost 28k to build i read it in atv sport......they jsut gotta straighten thier crap out

[AlaskaSpeed]

Originally posted by X-Rider
JMO- I think cdale made to many models to begin with, they should have improved on the FX400 like they did and left that as their only model at least for a couple years and kept the price as low as possible. The general public will pay up to a certain amount for a ATV, 6500 is about it, any higher and it better have mondo features. Also too many models, they could have had 2 at the most, have the cannibal and the moto and thats it. The cannibal and speed are to simliar, the glamis?? Im sorry there may be duners but not enough to make a dedicated ATV for.. The blaze-10k for a woods racer:huh I dont see many sold as long as people are wining on nearly stock 400exs. JMO

What on earth do you call "Mondo features"???:huh

State of the art aluminum frame, EFI, programmable ECU to run any mapping you want, strongest motor avaliable in any ATV.....I just hope Cannondale doesn't ask you for your opinion...:o MONDO FEATURES NEEDED>>>>BUhahahahahahahahahahahaha

[Jnine]

Cannondale did sell a fairly decent amount of quads last year, and depite the pricing, they did sell even more Moto 440s than they had hoped for. That is a very good sign for them.

I understand what you mean about "foreign sweatshops" and American quality. However, like anywhere else there are good & bad manufacturers. Being in the ATV world as we all are, God knows there are plenty of cobblers that we don't have to look far to find. (Even on this site occasionally.) The thing is, there are some shops overseas with excellent manufacturing capabilities, and even some Harley (As American as you can get) parts are made overseas. Some of them also come back in a box stamped "Made in USA"! Thats true! In some ways it is OK. to let the overseas operations make the individual parts. You can control quality of the individual piece quite well in that manner. In fact, there are some forging operations that are only done overseas. They would probably be best off taking a page from the auto people and become an assembley operation. That way they simply order in parts, and have a building where they assemble quads.

[DirtDiggler]

I don't think parts will be hard to find even if they disappear from the market. I believe the law says you have to continue producing parts for 10 years regardless of the situation. I don't know how they do this without any money (maybe the outsource the designs) but it is the law.

[Evan]

Cannondale Announces Plans To File
Voluntary Chapter 11 Petition

(Bethel, CT - 1/27/03) Cannondale Corporation (Nasdaq: BIKE), has announced that it intends to file a voluntary petition for reorganization under Chapter 11 of the U.S. Bankruptcy Code on January 28th.

Cannondale and its lenders, The CIT/Business Credit, Inc. and Pegasus Partners II, L.P. have reached an agreement in principle that, subject to Bankruptcy Court approval, will provide the Company with interim financing to fund post-petition operating expenses and to meet supplier and employee commitments. "The interim financing will be used to continue the operation of our bicycle business," said Cannondale Founder and President Joe Montgomery.

Cannondale has also reached an agreement in principle with Pegasus Partners II, L.P. to sell substantially all of its assets to Pegasus Partners II, L.P. pursuant to Section 363 of the Bankruptcy Code, subject to better and higher offers and court approval. Pegasus would operate the bicycle business as a going concern with the involvement of current management and would purchase separately the Company's motorsports assets, including the intellectual property related to the design of Cannondale's motorsports products. In the meantime, management continues to work with other potential interested buyers for either or both of these businesses.

Because the Company has obtained interim post-petition financing, Cannondale will be able to pay vendors for goods and services received after the filing in the ordinary course of business.

Montgomery explained that difficulties with Cannondale's motorsports business made the filing necessary, and that the Company has determined to suspend operations of the motorsports division pending a potential sale. "The motorsports division was threatening the bicycle division," explained Montgomery. "Although we believe in the value of our motorsports products, we did not have sufficient financial resources to make the additional investments necessary. We look forward to bringing a renewed focus to our core bicycle business and to working through this present challenge with the greatest possible speed."

The suspension of operations of the motorsports division will mean that production workers who had been furloughed from Cannondale's motorsports factory in Bedford, Pennsylvania in December will not be recalled. Production workers at Cannondale's Bedford bicycle factory, who have been idled during a recent shutdown, are scheduled to return to work in the near future.

[joeroadking]

that blows looks like it is for real ! hope someone steps up and saves the motorsprts division

[exriderdude]

:huh im confused

[Wired]

well as of right now the price on cannondale stock has dropped another -27 points enabling people to trade stocks at the price of $0.23 cents. now for all you people that have faith in cannondale coming out of this or maybe you know something the rest of us dont, this would probably be a good time to get in and buy up a couple thousand stock of cannondale. but from what i gathered it looks like everyones having a mad dash to get out of this company. just by the ammounts of trading going on and prices fluxuating every hour. good luck cannondale

[bakerboyz]

Stick a fork in them cause the're done.

The motorsports business and factory will be sold for parts. No one out there will buy that business and try to compete angainst the big boys ( Honda, Kawa, Yam, polaris) it would be suicide.

Grab parts while you can. Even though there is a law requiring spare parts be available. It doesn't require parts to be readily available. And the government cares about ATV owners almost as much as it cares about Saddam Hussein.

[Scott]

The motorsports division will be bought by someone. And odds are they'll quickly dispose of the dirtbike side of the house and just stick with the ATVs. The C-dale bikes didn't make much of a ripple in the market, but the quads were the best thing on the market. Set up overseas for manufacturing and assembling of the engines to lower the manufacturing costs, and you could still use the C-dale factories for the assembly of the machines. Thin down the product line and just stick to what was working. I think the machine will pull through.

[Pappy]

wired....i have already snagged some stock:cool:

c dale shouldnt of made dirtbike no way is there bike competitve with the 4

[400exNH]

The Good

Cool Race Image
High Performance
A+ Tech Support


The Bad

High Maintenance
Poor Reliability
High Price Tag
Small Market

If you analyze the above from a business perspective, you can see how they went under.

[ranger400ex]

The Good

Cool Race Image YEP
High Performance YEP
A+ Tech Support YEP


The Bad

High Maintenance-WRONG!, they are a race bike and should be treated as such. This is not your G-pa's '87 300fourtrax for hunting, it is a race quad. how many race cars you know run a full season on same oil, brakes, lubrication, etc. EXACTLY...NONE!!
(And this is no different for any of the big four either, if you own and race, you maintain!!)

Poor Reliability- WRONG! Only if you don't follow the above.

High Price Tag-WRONG! I had a LTZ prepped to ride,bought new for less than dealer cost(I work at a dealer part-time), and bought everything at cost, total price ALOT MORE THAN ANY OF THE DALES, and no where near as reliable..ie cheap steel tube frame, trail/recreation built motor, alot more maintenace involved than the dale if you are racing, SOLD, and no where near what was in it (And yes I know none of these toys are an investment)

Small Market-Right on this one, but that is what they were intended for. Not for the everyday Joe, but for those who are "deep" in the sport

If you analyze the above from a business perspective, you can see how they went under.--WRONG, they went under because they drug the motorcycles along too far, and were taking care of every problem that arised with no regards for expenditures involved(Dont see any of the big ones doing that right??).

The big hill for any business Dale crossed as of a short time ago, the R&D/implementation/redesign/stage, but this is where the money ran out. It is up to someone to take it from here, and they have a fairly easy road ahead if they choose to jump in. No matter who it is, their homework is done for them, the test has been studied for, the answer-sheet is there, and the only thing the new "owners" need to do is fill out the test and make the A+!!

Signed,

Riding into the sunset on a Dale!

Ben

[400exNH]

I disagree with you Ben. You can defend the Cannondale all you want but you must first do some comparisons against the competitors.

High Maintenance-
Compare a Cannondale to a 400ex or a CRF400R, stock for stock riding recreationally in all types of terrain and weather and tell me the Cannondale is not high maintenance or as reliable as a Honda (or any other manufactures for that matter).

Poor reliability
Just like you said, goes with the above.

High price Tag
Come on now. Race ready maybe. But please you still need are going to sink money into it and modify it, nobody keeps them stock. Do the math on this one.

And BTW, my statements I my previous post was not just for the ATV line, it was for the entire Cannondale motorsports line.

[400exNH]

Whoops, I meant a CRF450R..
:-)

Haggle back and forth all you like.

Simply put they produce a machine thats to advanced to manufacture "cheaply" like their competition and thus needed to get a much larger premium then they did.

The cannibal and speed were a true bargain at the out the door numbers I have seen (the cannibal was selling only a few hundred above what many paid for their raptors), and there just wasnt enough profit in these models to keep up with all the expenses.

You guys know the rest, chapter11

[DirtDiggler]

anyway you divide up the price your still getting.

more hp
aluminum frame that's stronger than the ex or z frame.
better stock suspension than the other bikes
if nothing else tougher maybe better tires.

even if you brought an ex or z up to dale power you still wouldn't have as good a frame of suspension. I've seen cannibals go out the door for about a grand or a little more than a grand over the z and it would cost more than that to make up the difference.

I think if anything they should have spent a little more time ironing out the problems before release so they wouldn't have had to shell out for so many free fixes. I also think they could have gotten away with 2 models instead of 5 and offered the other stuff as options. Then they wouldn't have to buy all that stuff for the other models they could have just ordered it and had a wait of a 2 weeks or a month. oh well jmo

[Benficachop]

Yea it sucks i think word has gotten around fast alot of sites alreadt said that.

[Knight440]

We all asked for it and they made it but you didn't buy it!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

[Chanman420q]

if they didnt go making quads for every type of riding and making 100 diffrant dirtbikes just to change the front tire type i think they woulda done better.

Never shoulda made the glamis or Speed