Bong in big trouble
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Re: Bong in big trouble
Well uncle Gordon survived the AGM along with Collette and Naude, so at least some people recognise that they simply can not survive without some core knowledge and industry set of keys. Every other board member has zero industry background so it would seem Gordon and Naude will be free to make sure pipe goes off with a bang and praying (or greasing some itchy palms of the 'rock' crew) to get Parko across the line. Could be worth up to $100m extra sales (based on a guess of10% increase on global sales) for Bong if he does.
Buckle up for some fireworks if the general points position remains after cold water Santa Cruz as there is way more than just a world tittle at stake
Buckle up for some fireworks if the general points position remains after cold water Santa Cruz as there is way more than just a world tittle at stake
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- Huey's Right Hand
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Re: Bong in big trouble
too late hollowed.
they're gonna take Billabong to the knackery mate.
there's no going back to the safe redoubt of the surf culture, for one thing, it doesn't exist in the same form as it did when Gordon got started, or even as it did when he took it public.
for another, none of those shareholders would put up with the shearing away of sales that would be involved in an attempt to step back into the arms of the remaining core. You'd be looking at a massive drop in numbers.
nay, the whole thing is breaking up like the Antarctic ice shelf. Not just Billabong. Surf as a launching pad into mass sales/production is done.
ps nobody other than the surfing world gives a fcuk who is world champ. I mean, I do. But I don't think many of the people who are paying for Billabong gear really do, or will even find out.
they're gonna take Billabong to the knackery mate.
there's no going back to the safe redoubt of the surf culture, for one thing, it doesn't exist in the same form as it did when Gordon got started, or even as it did when he took it public.
for another, none of those shareholders would put up with the shearing away of sales that would be involved in an attempt to step back into the arms of the remaining core. You'd be looking at a massive drop in numbers.
nay, the whole thing is breaking up like the Antarctic ice shelf. Not just Billabong. Surf as a launching pad into mass sales/production is done.
ps nobody other than the surfing world gives a fcuk who is world champ. I mean, I do. But I don't think many of the people who are paying for Billabong gear really do, or will even find out.
Re: Bong in big trouble
it's a crying shame.
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Re: Bong in big trouble
Hey Nick,
Looks like Naude owns a knackery if this SMH story below has any legs...maybe they are just shit scarred of the new board and chairman showing up on the beach at pipe to cheer for Parko
Billabong's US boss trying to take over
When it comes to potential buyers, Billabong has a habit of getting to various stages of dating and then being dumped before it gets to the altar.
Over the past year private equity firms TPG and Bain took a look at the Billabong numbers and on closer inspection lost their nerve to make a formal offer.
Now there is a new bout of buying interest. But this time it comes from within the company - one of its own executive directors, Paul Naude.
Advertisement
Naude has decided to stand down from his role at Billabong while he talks to potential investors about a leveraged buy-out.
It is a difficult position to take. The company says that Naude did not initiate discussions with outside parties but is clearly willing to be enlisted by these unnamed parties to assess whether a deal can be done and has taken this role on with gusto.
'‘Mr Naude has advised that he is seeking to hold discussions with potential financiers, both debt and equity, to gain their support for a potential change of control transaction of Billabong."
The issue is that Naude is intimately acquainted with how Billabong is travelling and what it might be worth. He is Billabong’s president of the Americas and a member of the board and therefore a perfect conduit for would-be private equity partners.
Presumably given Naude was approached by the potential suitor he would be the pick to run Billabong in the event of a successful buy-out.
The board won’t be enjoying this new turn of events. Despite the fact that the outgoing chairman, Ted Kunkel, said at the annual meeting last month that the company was open to all comers interested in a takeover the reality is that the recently minted management, under Launa Inman and chairman Ian Pollard would undoubtedly prefer to get on with turning around the trouble surf and ski wear retailer.
Meanwhile, Billabong’s founder and largest shareholder, Gordon Merchant, has not been a party to Naude’s plan.
While the board might not be enamoured with the latest turn of events, the large institutional shareholders would be very keen to the share price receive some new life.
They were highly critical of Merchant and the board for rejecting TPG’s $1.45 indicative offer earlier this year.
Given this history, the company will be virtually obliged to offer any real suitors the chance to do due diligence but only if it's a legitimate buyer sufficiently financed and capable of transacting a deal.
At this stage Naude’s move looks more like a punt than a certainty - Billabong has yet to receive any kind of proposal although it's understood the board is aware of who Naude is dealing with.
Read more: http://www.smh.com.au/business/eternal- ... z2CeIVI47f
Looks like Naude owns a knackery if this SMH story below has any legs...maybe they are just shit scarred of the new board and chairman showing up on the beach at pipe to cheer for Parko
Billabong's US boss trying to take over
When it comes to potential buyers, Billabong has a habit of getting to various stages of dating and then being dumped before it gets to the altar.
Over the past year private equity firms TPG and Bain took a look at the Billabong numbers and on closer inspection lost their nerve to make a formal offer.
Now there is a new bout of buying interest. But this time it comes from within the company - one of its own executive directors, Paul Naude.
Advertisement
Naude has decided to stand down from his role at Billabong while he talks to potential investors about a leveraged buy-out.
It is a difficult position to take. The company says that Naude did not initiate discussions with outside parties but is clearly willing to be enlisted by these unnamed parties to assess whether a deal can be done and has taken this role on with gusto.
'‘Mr Naude has advised that he is seeking to hold discussions with potential financiers, both debt and equity, to gain their support for a potential change of control transaction of Billabong."
The issue is that Naude is intimately acquainted with how Billabong is travelling and what it might be worth. He is Billabong’s president of the Americas and a member of the board and therefore a perfect conduit for would-be private equity partners.
Presumably given Naude was approached by the potential suitor he would be the pick to run Billabong in the event of a successful buy-out.
The board won’t be enjoying this new turn of events. Despite the fact that the outgoing chairman, Ted Kunkel, said at the annual meeting last month that the company was open to all comers interested in a takeover the reality is that the recently minted management, under Launa Inman and chairman Ian Pollard would undoubtedly prefer to get on with turning around the trouble surf and ski wear retailer.
Meanwhile, Billabong’s founder and largest shareholder, Gordon Merchant, has not been a party to Naude’s plan.
While the board might not be enamoured with the latest turn of events, the large institutional shareholders would be very keen to the share price receive some new life.
They were highly critical of Merchant and the board for rejecting TPG’s $1.45 indicative offer earlier this year.
Given this history, the company will be virtually obliged to offer any real suitors the chance to do due diligence but only if it's a legitimate buyer sufficiently financed and capable of transacting a deal.
At this stage Naude’s move looks more like a punt than a certainty - Billabong has yet to receive any kind of proposal although it's understood the board is aware of who Naude is dealing with.
Read more: http://www.smh.com.au/business/eternal- ... z2CeIVI47f
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Re: Bong in big trouble
ha ha maybe.
pretty much a make or break move by Paul, I guess he's figuring that if it doesn't work, then he'll be in a company he doesn't want to be part of anyway, so why not have a go?
though from the observer's standpoint, it all looks increasingly Shakespearean, I mean how many more people will have a crack at the company? Change of ownership is a bastard at the best of times.
pretty much a make or break move by Paul, I guess he's figuring that if it doesn't work, then he'll be in a company he doesn't want to be part of anyway, so why not have a go?
though from the observer's standpoint, it all looks increasingly Shakespearean, I mean how many more people will have a crack at the company? Change of ownership is a bastard at the best of times.
Re: Bong in big trouble
But surely Nick (yes this is my serious voice) there is plenty of cash in the old surf cow yet. Sure internet has hit old fashioned retailing, but it also means bored pen pushers the world over are spending big chunks of their days, literally, web surfing...new frontiers are opening, new possibilities
with respect...maybe its only the surfing world who do (or conscentiously abstain) from giving the proverbial, but that 'surfin world' goes WAY beyond an island in the South Pacific and a slice of the US west coast
with respect...maybe its only the surfing world who do (or conscentiously abstain) from giving the proverbial, but that 'surfin world' goes WAY beyond an island in the South Pacific and a slice of the US west coast
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Re: Bong in big trouble
Oh I'm sure there is too. Surfer numbers are growing worldwide and the businesses that rely on people actually going surfing -- ie boardmakers, surf travel cos etc -- are doing well.
But the big surf fashion/apparel companies rely on a much broader sales base than the surfing world, and it's a fickle sales base, that one. It'll be off to Topshop or wherever in a second. At the same time, Hollister -- Abercrombie and Fitch's "surf" brand -- is smoking all the surf labels right now...and they don't sponsor any pro surfers, big wave free surfers, contests, or anything. They just sorta look the part and have killer distribution.
It's not as simple as it looks.
But the big surf fashion/apparel companies rely on a much broader sales base than the surfing world, and it's a fickle sales base, that one. It'll be off to Topshop or wherever in a second. At the same time, Hollister -- Abercrombie and Fitch's "surf" brand -- is smoking all the surf labels right now...and they don't sponsor any pro surfers, big wave free surfers, contests, or anything. They just sorta look the part and have killer distribution.
It's not as simple as it looks.
Re: Bong in big trouble
I was surprised to see they were very big in the mercado central in Leon, Nicaragua.Nick Carroll wrote:Oh
Hollister -- Abercrombie and Fitch's "surf" brand -- is smoking all the surf labels right now...and they don't sponsor any pro surfers, big wave free surfers, contests, or anything. They just sorta look the part and have killer distribution.
It's not as simple as it looks.
In the stall right next to the fly-covered beef carcasses.
Re: Bong in big trouble
..Nick Carroll wrote: At the same time, Hollister -- Abercrombie and Fitch's "surf" brand -- is smoking all the surf labels right now...and they don't sponsor any pro surfers, big wave free surfers, contests, or anything. They just sorta look the part and have killer distribution
And are on their way to Australia. Surely that can't be good news for traditional surf brands?
Re: Bong in big trouble
Today we salute you, Mr.Constant Collar Putter Upper. You, bedecked in popped collar, teach us that we no longer have to live with a cold, back of the neck. Sure, your Pink alligator polo may look feminine to some, but not to the 17 other frat guys wearing the same thing at the bar. Where others may see thoughtless fashion conformity, you preach a higher gospel. You preach of a world where it's okay for a man to go tanning. You ask, "Why can't we wear make-up, and use shampoo with lavender essence?" So crack open an ice-cold Bud Light, Mr. Abercrombie(or is it Fitch?), because we all know,when we really need a piece of gum, you might have one..in your man purse.
Re: Bong in big trouble
If you want to see bricks and mortar retail excellence at work, walk into an A & F or Hollister store. Whether you like their gear or not it is hard to argue against the fact that these guys do retail very well. Some Aussie companies have tried to copy them to a degree, but no one has nailed it. The Aussie retail experience on average sucks when compared to some of these overseas success stories. No wonder many of them are coming to Australia despite our small population. And they will do very well.
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Re: Bong in big trouble
What does that even mean?Natho wrote:Whether you like their gear or not it is hard to argue against the fact that these guys do retail very well.
it's a shop isn't it with things in there to buy.
Do people really buy things according to a "retail experience"?
I'm seriously out of touch.
I've never once woken up or gone to sleep thinking the Aussie retail experience was a problem.
I want Nightclub Dwight dead in his grave I want the nice-nice up in blazes
Re: Bong in big trouble
Go back to sleep Steve.
- steve shearer
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Re: Bong in big trouble
gladly, but out of pure curiousity I'd still love an explanation of what constitutes this retail experience.
I want Nightclub Dwight dead in his grave I want the nice-nice up in blazes
Re: Bong in big trouble
only a shopper knows the feeling.
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Re: Bong in big trouble
do you get handjobs while you try on boardshorts ?
C'mon Natho, spill the beans.
C'mon Natho, spill the beans.
I want Nightclub Dwight dead in his grave I want the nice-nice up in blazes
Re: Bong in big trouble
go spend a day in a big mall in brisbane, steve. shower before you go. wear shoes, comfortable and clean. observe. don't judge! talk to people. take notes. have lunch in the food court, a vegetarian burrito say. spend $150 on something for your wife. have a nice day!
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Re: Bong in big trouble
any mall in particular?
don't judge!!!!!! fcuk mate that's what makes us human.
I get claustrophobia/agoraphobia in big malls.
I used to shoplift a lot of cassette tapes and fishing lures in brisbane malls and had some hairy run-ins with security.
I'd rather stay away.
don't judge!!!!!! fcuk mate that's what makes us human.
I get claustrophobia/agoraphobia in big malls.
I used to shoplift a lot of cassette tapes and fishing lures in brisbane malls and had some hairy run-ins with security.
I'd rather stay away.
I want Nightclub Dwight dead in his grave I want the nice-nice up in blazes
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