RealSurf Surfers' Forum

...

well wasn't Slaters departure prescient

or was it the catalyst?

..its all heading to Big W perhaps

Braithy wrote:or was it the catalyst?

probably more of a symptom

two minutes of googling did not yield an answer to the question - did Slater sell his shares on quitting Quik?

I would spec-u-guess he did. If we was unhappy with the way things were going, one would want to sever all ties.

Presumably with 10m he had a significant shareholding. Should be relatively easy to find out if he sold them.

The data sources (free ones anyway) I know of only report transactions of directors/officers of the company.
From 3 minutes Googling he had 3% stake. Above 5% is reportable in Australia at least for individuals too. Don't know about the USA. Not that his stock would/may have been in his name either.
Nick - save us some time and call up Slater and ask him if he sold. If he tells you to fcuk off you can blame me.

Nick Carroll wrote:

Braithy wrote:or was it the catalyst?

probably more of a symptom

what does this mean for the wsl tour riders? do they have to pay their own way on tour, now? what about dane & ando?

... it's my understanding that hurley are maxed out on their contracts – and top heavy ones at that, so i wouldn't expect hurley or (obviously) bong or the curl to come to their rescue as far as spono dollars go.

Braithy wrote:

Nick Carroll wrote:

Braithy wrote:or was it the catalyst?

probably more of a symptom

what does this mean for the wsl tour riders? do they have to pay their own way on tour, now? what about dane & ando?

... it's my understanding that hurley are maxed out on their contracts – and top heavy ones at that, so i wouldn't expect hurley or (obviously) bong or the curl to come to their rescue as far as spono dollars go.

Does it depends if they are contracted from the US or Australia? I read that the Australian business is still successful. But with absolutely no knowledge of bankruptcy and liquidators my educated answer is fcuked if I know.

Only 3%?
Thought he would've had more. I'll see myself out.

...

I don't think Chapter 11 bankruptcy will necessarily mean that pro surfers' contracts won't be honoured, they are a pretty smidgy piece of the pie

Ch11 isn't bankruptcy as Australians understand it. In Oz, bankruptcy is the end of a business's life. In the USA, that type of bankruptcy is called Chapter Seven. Ch11 is a temporary (usually one-year) relief of some of a business's debts and some other obligations, to allow the business to re-organise and clear the decks for future operations. In this case Quik has reported that the debt load was in the range of US$900 million and they're hoping to shrink that to $300m

This all feels like a continuation of the tale told by Jarratt in his very entertaining Salts and Suits book.

boo, once upon a time Quik was valued by the sharemarket at over $2 billion. Back then, 3% was a god damn fortune. I dunno if Kelly holds any significant shareholding any more in Quiksilver but imagine he still had something in the mix.

Is that like the type of bankruptcy that 50cent did Nick??

...

When was the last time anyone bought billabong? I have a pair of jeans from about 4 years ago

I occasionally go past that Billabong shop on the Manly corso and think about the enormous rent bill they pay...That's a lot of boardies and bikinis just to pay the overheads.

I just bought some bong jeans. From the local dfo, $129 down to $50 .