The eagle soars again: Harley’s comeback story subject of new AMA Hall of Fame exhibit

Those claims never seem to materialize, but in 1985, H-D was truly at risk of going under. The Motor Company’s comeback from those challenging circumstances is now the focus of a new exhibit at the AMA Motorcycle Hall of Fame Museum.

It’s New Year’s Eve, 1985. The Milwaukee manufacturer plans to announce its bankruptcy on the first day of 1986. Less than five years earlier, in 1981, a group of executives (including Willie G. Davidson and Vaughn Beals) bought Harley back from AMF, saving the OEM from liquidation. Financial headwinds remained, however. After product quality and customer confidence plunged under AMF, rehabilitating the brand’s reputation was no easy feat.

By the end of 1983, the Bar and Shield had laid off 40% of its workforce. It introduced the Evolution V-Twin and Softail platform in 1984, but sales weren’t impressive out of the gate. Bankruptcy seemed all but inevitable. That is, until CEO Vaughn Beals and CFO Rich Teerlink secured a $49 million financing deal on New Year’s Eve, 1985 (less than one hour before the banks closed, no less).

Consistent growth and record-breaking sales characterized the years that followed. The exhibit “We Did It Together: A Harley-Davidson Leadership Story” recounts the events of that period — one of the most successful periods in the marque’s 123-year history.

There’s no discussing Harley’s recovery without highlighting the influence of Teerlink’s leadership. When Beals retired in 1989, Teerlink stepped in as CEO. His humanistic, egalitarian approach cultivated a culture of shared ownership and cross-functional collaboration.

“He didn't have a leadership style,” explained Jeff Westphal, former Vertex Inc. CEO and Teerlink mentee, “he had a leadership state of being that communicated to everyone around him that they were the most important person in the world, and that just reverberated through the entire Harley community.”

Aligning with the “We Did It Together” theme, curators will also compile an exhibit mural composed of photos submitted by Harley-Davidson community members. Whether you’re a dealership employee, H.O.G. member, or brand enthusiast, images submitted to the exhibit webpage now through July 31, 2027, will be considered for inclusion. The completed mural will then debut on October 12, 2027.

“Even though [Teerlink] was a driving force behind [Harley’s revival],” admitted AMA President and CEO Rob Dingman, “it certainly was a group effort, and there were a number of links in that chain, which is why the 'We Did It Together' theme and title for the exhibit is so appropriate.”

On display now, “We Did It Together: A Harley-Davidson Leadership Story” is a permanent exhibit at the AMA Motorcycle Hall of Fame in Pickerington, Ohio.