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[5] [14] By the end of 1996, Specialized had lost 30% of its bike shop sales and, according to Sinyard, "came within a few hundred dollars of declaring bankruptcy". [5] In 2001, Merida Bikes of Taiwan bought 49% of Specialized (initially reported as 19%) for a reported US$30 million. Mike Sinyard remained majority owner and CEO of the company.
The Schwinn Bicycle Company is an American company that develops, manufactures and markets bicycles under the eponymous brand name. The company was founded by Ignaz Schwinn (1860–1948) in Chicago in 1895, [2] [3] and in the 20th century became the dominant manufacturer of American bicycles.
The Hot Rock is the follow-up to Sleater-Kinney's highly acclaimed third album Dig Me Out, released in 1997 by the independent record label Kill Rock Stars.After the success of Dig Me Out and its predecessor Call the Doctor, several major record labels grew interested in the band and offered them recording contracts, but the band ultimately decided to remain on Kill Rock Stars.