Bong in big trouble

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tootr
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Re: Bong in big trouble

Post by tootr » Wed Sep 09, 2015 1:47 pm

well wasn't Slaters departure prescient
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Re: Bong in big trouble

Post by crabmeat thompson » Wed Sep 09, 2015 3:11 pm

or was it the catalyst?
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Re: Bong in big trouble

Post by saltman » Wed Sep 09, 2015 3:15 pm

Will Oaktree launch QuikaBong?
there will be some bargains to be had as they slash inventory
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Re: Bong in big trouble

Post by Davros » Wed Sep 09, 2015 3:21 pm

..its all heading to Big W perhaps

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Re: Bong in big trouble

Post by saltman » Wed Sep 09, 2015 3:24 pm

Thread Title should be amended - Quik in worse trouble !
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Re: Bong in big trouble

Post by Nick Carroll » Wed Sep 09, 2015 3:40 pm

Braithy wrote:or was it the catalyst?
probably more of a symptom

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Re: Bong in big trouble

Post by tootr » Wed Sep 09, 2015 3:50 pm

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.
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Re: Bong in big trouble

Post by alakaboo » Wed Sep 09, 2015 6:11 pm

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

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Re: Bong in big trouble

Post by tootr » Wed Sep 09, 2015 6:32 pm

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.
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Re: Bong in big trouble

Post by crabmeat thompson » Wed Sep 09, 2015 6:35 pm

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.
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Re: Bong in big trouble

Post by rmb » Wed Sep 09, 2015 6:46 pm

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.

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Re: Bong in big trouble

Post by alakaboo » Wed Sep 09, 2015 6:50 pm

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

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Re: Bong in big trouble

Post by Legion » Thu Sep 10, 2015 8:05 am

...
Last edited by Legion on Sun Mar 20, 2016 7:03 pm, edited 1 time in total.

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Re: Bong in big trouble

Post by Nick Carroll » Thu Sep 10, 2015 1:57 pm

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.

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Re: Bong in big trouble

Post by Drailed » Thu Sep 10, 2015 2:07 pm

Is that like the type of bankruptcy that 50cent did Nick??
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Re: Bong in big trouble

Post by Legion » Thu Aug 25, 2016 10:58 am

...
Last edited by Legion on Thu May 25, 2017 6:28 pm, edited 1 time in total.

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Re: Bong in big trouble

Post by Davros » Thu Aug 25, 2016 4:31 pm

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

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Re: Bong in big trouble

Post by channels » Thu Aug 25, 2016 5:13 pm

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.

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