Moving forward!
Any day now, a press release, dressed in florid prose, will detail the symbiotic relationship between the Authentic Brands Group and its new buy, Boardriders Inc, the parent company of Quiksilver, Billabong and RVCA.
Boardriders Inc is currently majority owned by Oaktree Capital, an American global asset management firm, but is in the process of being bought, or so we are told, by Authentic.
Wild, of course, that in the last couple of decades, those two great Australian icons Quiksilver and Billabong, have become little more than a logo and a bit of goodwill, play things for asset managers.
RVCA is even more interesting. Its co-founder Pat Tenore, one of the canniest cats in the biz, turned the surf brand into a pivotal player in MMA, then sold out for thirty-seven mill, having bought out the other founder, Conan Hayes, a well-known man in election circles, for seven and a half mill in 2011.
Anyway, Boardriders CEO Arne Arens announced today that 170 jobs are gonna be cut “to enable the company to respond nimbly to the market and its customers in the face of an uncertain and changing economic landscape.”
“Losing talented employees is always difficult and I want to recognize the departing staff for their contribution to Boardriders. Moving forward, we are fully focused on setting Boardriders up for success,” said Arens.
Enjoy the turkey stuffing, kids!
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The covid boom is over. I work for a fairly large for our region general contractor. Lots of talk of tightening things up. The great resignation and quiet quitters are gonna have a wake up call soon.
Tyler durden was right.
para-surfer candidate!
govt says ‘learn coding…’ Kalani Rob says: “Fuck that!”
I’d bet a 40 year old coal miner could take up a trade quicker than a 27 year old ex twitter employee.
I just hope this crisis doesn’t hot BG. Imagine the carnage!
“Losing talented employees is always difficult and I want to recognize the departing staff for their contribution to Beachgrit. Moving forward, we are fully focused on setting Beachgrit up for success,” said Rielly.
Wonder how many staff griff cost?
Surf is dead.
I mean—the surf industry is dead—at least we can hope.
“These few Wall Street flesh merchants seek to unify surfing— only to extract the wealth “.
do you include surfboard makers as dead also??
Do I include surfboard makers as dead?
Well, with computerized shaping—maybe.
No, not really, I think most shapers are pretty cool for the most part.
Bring a board to life from a piece of foam—pretty cool…
I’ve been in the shaping bay when a lot of my boards were shaped, got to add a little input too. Even shaped a couple myself.
Keep up the good work Brutus—if I lived in Oz, I think I’d ask you to shape one for me.
Thank goodness I’m in the small arms business.
Does no one even remember ROXY
https://uploads.disquscdn.c…
…”Losing talented employees is always difficult”…
Let’s look at the 2nd and 3rd words in that statement.
…”talented employees”…
Hmmm
The only talent that any employees/employers of those companies (at least in management/ownership roles) ever had is a talent for scamming kooks and fools etc.
And it seems that Arne Arens (whoever the fuck he is, and whatever he’s done in surfing prior to this debacle) is the biggest kook and fool of the bunch now.
Maybe he’ll go on a one-way solo fishing trip (on a foggy, swelly French morning) with any luck.
It’s happened before…
And I guess by doing so the CEO will get a bonus of about $2mill
His name is now Qonan Hayes
Lottsa money in play now, post FTX / Democrat party money heist .
The psuedo moral and virtuous always win!!
Dont ask questions.
Have you still got all that cyber cash you were bragging about a few months ago ?
My nephew hasn’t ..
I do
In at 13 out at 55
Still got a few hundred thousand shitcoins.
Should be worth millions very soon
Excellent, bexy !
Woof, woof !
Buy,Strip,Sell, Repeat
If you don’t surf, don’t start buying up surf companies.