Wall Street

SurfStitch Closing US Office Amid Losses

by The Editors on May 22, 2017

Australian retailer SurfStitch (formerly partially owned by Billabong) is expecting its losses to double this year, according to a story on Sky News. In what has been one piece of bad news after another, the company will also be closing their US office a.k.a Swell.com.

SurfStitch on Monday announced that weak apparel and footwear sales in its key markets, particularly in the UK, will drag it deeper into the red than the $5 million-$6.5 million loss it had forecast in February. . . The company now expects a loss of between $10.5 million and $11.5 million for its 2017 financial year.

Guess the suits haven’t been able to turn the retailer around like they’d hoped. 

[Link: Sky News]

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Shaun White Settles Sexual Harassment Suit

by The Editors on May 17, 2017

Shaun White and former Bad Things drummer Lena Zawaideh have finally settled their differences without going to court according to a story in USA Today.

Zawaideh first sued White and his company in May 2016, alleging breach of contract for lack of payment of her $3,750 monthly retainer from September 2013 until August 2014. The original lawsuit didn’t contain any sexual harassment allegations. . . She then switched attorneys and filed an amended complaint in August that added the sexual harassment claims in detail with screen shots of alleged text messages from White attached as exhibits. It sought punitive and compensatory damages, including lost wages.

When the suit was filed last August, Shaun said he would defend against the charges  “vigorously in court,” apparently, he changed his mind. No details were released on exactly what the settlement was, but we’re guessing Zawaideh got money in exchange for dropping her case. Isn’t that how it usually works?

[Link: USA Today]

 

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Kid Dies After Drinking Too Much Caffeine

by The Editors on May 16, 2017

Davis Allen Cripe (pictured right) was a 16-year-old high school student who died in April 2017 from what Richland County, S.C. Coroner Gary Watts is calling a “caffeine induced cardiac event” after drinking “a large Diet Mountain Dew, a cafe latte from McDonald’s and an energy drink over the course of about two hours,” according to a story in the Sacramento Bee. In other words, he didn’t do anything that the action sports industrial complex isn’t encouraging kids to do all the time.

Cripe’s father explained it like this:

“It wasn’t a car crash that took his life,” he said of his son. “Instead, it was an energy drink. Parents, please talk to your kids about these energy drinks. And teenagers and students: please stop buying them.”

No one mentioned exactly which energy drink it was, likely out of fear of getting sued, but we could probably guess. We just wonder when the action sports industry is going to wake up and stop selling off their lifestyles and athletes to promote drinks that can be straight up harmful to kids. Anyone?

[Link: Sacramento Bee]

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Surfers Suing Rip Curl After Nightmare Trip

by The Editors on May 9, 2017

Five Orange County, California and three Austrailian surfers are suing Rip Curl after the 8 were allegedly left to fend for themselves after the charter surf boat they were on (the Quest 1, formerly known as the Indies Trader II) began sinking during the night of July 18, 2015, according to a story in the Orange County Register.

The eight men are now suing surf giant Rip Curl, which organized the excursion, alleging the company knew the vessel was in disrepair and failed to provide any aid or assistance after they were rescued. The lawsuit, filed last month, also names Rip Curl executives and the boat’s operators, PT Neptune Adventures, which is described in the suit as a “shell” company set up by Rip Curl to “avoid liability and circumvent regulatory compliance” for the Quest 1.

Click the link for the rest of this nightmare surf story. From the sounds of the complaint, the surfers are lucky to be alive.

[Link: Orange County Register]

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Two Farm Tables & A Microphone Dates

by The Editors on May 9, 2017

Combining visionary ideas and unforgettable cuisine, Two Farmtables And A Microphone invites their guests to feed all five senses while creating food for thought. Event organizers promise that their guests will take part in incredible, transparently-sourced, farm fresh meals accompanied by a diverse array of exciting guest speakers from the frontiers of entertainment, technology, and culture.

It’s an evening that will stimulate both your palate and mind, leaving you with a full belly and a renewed hunger for the possibilities that surround us.

For all the details on upcoming events in Hawaii, Ojai, Huntington Beach, and Oceanside, California please click the link.

[Link: 2FTAM]

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Otis Eyewear’s New Global Brand Director

by The Editors on May 8, 2017

Scott Lewis has been named to the newly created role of global brand manager at Otis Eyewear. Lewis, who has formerly served as Director of International Sales at Oakley Inc, Commercial Director of Oakley Europe, International President at Globe and Director of Sales and Business Development EMEA at Fox Head, Inc. He will start at Otis’ home office in Australia in June.

For the official word from Otis, please follow the jump.

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Investigating Colorado Resort Deaths

by The Editors on May 1, 2017

The Summit Daily News newspaper (which covers Summit County, Colorado) has an amazing series of articles titled White Death, in which they try to “uncover the human toll of Colorado’s ski industry.” This collection of stories illustrates the way big business resort industry seems to do its best to squash any information related to deaths on their slopes and how difficult it was for the newspaper to get details on the 137 people who have died in accidents at Colorado resorts since the winter of 2006-7. Click the link for the rest of the story.

[Link: White Death]

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Shaun White Selling His NYC Condo

by The Editors on April 27, 2017

Shaun White is on a bi-coastal home dumping spree. He’s selling his beach pad in Encinitas, California, his mod home in the Hollywood Hills, and now, according to a story in the New York Post, he’s selling his “NYC Penthouse,” though we’re not sure it’s a proper penthouse, as it’s offered up for only $2.79 million (the cheapest of his homes by far).

The two-bedroom, 2½-bathroom unit is 1,174 square feet. It comes with floor-to-ceiling windows, 12-foot ceilings and stunning skyline views. . . The eight-story building, built in 2006, features a rooftop deck with a 50-foot lap pool, wet bar and BBQ, along with a gym and a 24-hour doorman.

All told Shaun has $17.69 million of homes currently on the market. Not a bad action sports exit. Wonder what he needs the money for?

[Link: New York Post]

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Patagonia’s CEO Is Watching You Donald

by The Editors on April 26, 2017

In a presidency that becomes more absurd with each day, the Trump administration is now moving to review all of the United State’s National Monuments and Patagonia’s CEO Rose Marcario doesn’t like it one bit. She says:

Our National Monuments were established after extensive public input because they provide unique and irreplaceable cultural, ecological, economic and recreational value worth protecting for our children and our grandchildren. As stewards of America’s federal public lands, the Trump administration has an obligation to protect these most special wild places. Unfortunately, it seems clear they intend to do the opposite.

In a statement released today (Wednesday, April 26, 2017) Marcario urges everyone who loves America’s public lands to contact their members of Congress and Interior Secretary Ryan Zinke to “express outrage at the Trump administration’s efforts to roll back National Monument protections.” For the official statement from Marcario, please follow the jump.

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Aspen Skiing Co. & KSL Buy Mammoth, Too

by The Editors on April 12, 2017

Mammoth has always wanted to be Aspen. And now, it appears their wish has finally come true. Two days after picking up Intrawest for a reported $1.5 billion, the Denver, Colorado based Aspen Skiing Co./KSL partnership has picked up Mammoth, June, Snow Summit, and Bear Mountain for an undisclosed sum according to a Jason Blevins story in the Denver Post.

Rusty Gregory, the longtime manager and chief executive of Mammoth Resorts, in a statement called the move “the next logical chapter in the story of Mammoth. . . This new platform, built around a collective passion for the mountains and our commitment to the people who visit, work and live there, is exactly what the ski resort business needs.

We’re not sure that having every single resort in the USA owned by two companies is exactly what the ski resort business needs, but we’re pretty certain it won’t change much for the average shred. That Aspen leaf in the logo always did look like two tusks and a trunk to us anyway.

[Link: Denver Post]

 

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