Wall Street

Merchant Bails Out Bio-Plastics Company

by The Editors on November 9, 2010

Plantic LogoBillabong founder Gordon Merchant has decided to pay $8 million dollars to help save a business that makes biodegradable plastics. Plantic Technologies is a Melbourne, Australia-based company that creates “green” plastics made from corn starch, according to as story on Goldcoast,com.au.

Since Plantic’s shares listed at 64 pence ($1.02) each in 2005, they have fallen to ‘penny dreadful’ status, trading around 4 pence for most of the year and creating a sizeable hole in the value of Mr Merchant’s original investment. . . The businessman, who is currently in the US attending the funeral of surfer Andy Irons, has proposed a scheme of arrangement where he would acquire the remaining capital of Plantic that he does not already own. . . Mr Merchant made the offer of 8 pence a share on July 24, and this has since boosted the Plantic share price to around the offer level over the past three months. . . The Plantic board has recommended shareholders accept the offer, in the absence of a superior bid.

Hopefully, it will all work out. The world could use better plastic.

[Link: Goldcoast.com.au]

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686’s Big Giveaway Weekend

by The Editors on November 9, 2010

686 Day Banner

686 has come up with a a pretty simple way to increase their social media reach—free stuff. Each fall they use their email list, facebook and twitter accounts to give products to the kids. They call it 686 Day. This year the day has been extended to three days (November 12-14, 2010).

To follow along be sure to check in on 686’s facebook, twitter, or email newsletter to see how it’s done. Follow the jump for more details and a list of the participating retailers.
[click to continue…]

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Zumiez Stock Jumps 12 Percent After Hours

by The Editors on November 3, 2010

Zumiez-NotaglineWhen core mall retailer Zumiez announced today (November 3, 2010) that their October revenue in stores open a least a year rose 21.5 percent there wasn’t an after hours trader who didn’t feel like jumping in apparently. The stock rocked up to $28.34 a share, according to a story on Canadian Business.

Analysts expected a rise of 7.8 percent, according to Thomson Reuters. . . Total revenue for the four-week period ending Oct. 30 rose 27.3 percent to $31.4 million.

Zumiez stockholders should be jumping for joy. Speaking of jumps, follow this one for the entire press release.

[Link: Canadian Business]
[click to continue…]

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ASRn’t: Here Ends A 29-Year Tradition

by The Editors on November 2, 2010

Asr+LogoBack in December of last year (2009) when we heard that several trade shows were flying retailers in and putting them up for a couple nights just so they could walk the isles of a convention for two days we asked a rather obvious question in a post titled Skate Trade Show Overload:

We have to wonder what happens to the entire trade show business model when they have to pay retailers to attend. Lord knows retailers need to be treated well these days, but it still seems to bring us back to the question that’s been plaguing the boardsports business for several years: are trade shows even relevant anymore?

It would appear that today ASR’s parent the Nielsen Company answered a little late with a resounding “No” according to a post on Shop-eat-surf.com. According to what Tiffany Montgomery described as “multiple people briefed on the matter” ASR has cancelled all of their upcoming trade shows. She says:

The demise of the industry’s largest trade show on the West Coast, with 700 brands, 450 manufacturers and attended by 18,000 people from over 60 countries, has the potential to dramatically alter the trade show landscape in the action sports industry.

Nielsen VP of Operations Lori Jenks is quoted in the the San Diego Union-Tribune:

“Unfortunately due to the difficult economic environment and the consolidation in the action sports industry, Nielsen Expositions have decided to suspend the production of both ASR events in San Diego indefinitely,” wrote Lori Jenks, vice president of operations for Nielsen Expositions.

As we all know, the only companies who stand to be hurt by ASR going away are the small and the new. But then they’re the ones who get in the way of the big corporate labels anyway. The major labels can afford to do their own sales work, and if the barrier to entry on the little guys gets a little higher through all this, who really cares, right?

It should be even better news for Agenda’s Aaron Levant. His show has always specialized in the small guys. If ASR leaving the trade show game is good news, Levant didn’t want to talk about this afternoon. The only response we got from him was, “No comment on the ASR situation.”

[Link: Shop-Eat-Surf and San Diego Union-Tribune]

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Whistler Discounts IPO Offering Again

by The Editors on November 2, 2010

Whistler LogoWhistler Blackcomb Resort’s planned IPO doesn’t seem to be offering up much help lately. Fortress Investment Group LLC cut the offered share price for a second time in one week, according to a story on Bloomberg.

Whistler Blackcomb aims to sell shares for C$12 each, with a dividend yield of 8.12 percent, according to the people, who asked not to be identified because the plans aren’t public. The company previously cut its price range from C$14 to C$15 a share down to C$12.50 and C$13 apiece.

Not really sure lowering the price on buying into a debt-ridden resort will make it look any more attractive, but what else can they do?

[Link: Bloomberg]

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Globe Actually Turns A Profit

by The Editors on November 1, 2010

Globe LogoFor the first time in four years Globe International (parent of Dwindle Distribution) has turned a profit. And, according to a story in The Australian, it is due to a “balanced approach.”

While in previous years Hill has issued bullish assessments of the outlook only to have them fail to materialise, he’s now playing it safe. He talks only of stabilising revenues and growing through market share expansion. . . “We have some positive signs in the business at the moment but markets are also erratic, so we’re being cautious both on the outlook and how we manage the business,” he tells The Australian.

Looks like the “back-to-basics” plan is working.

[Link: The Australian]

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Tony Hawk Talks Business Again

by The Editors on November 1, 2010

Tony-Hawk-1Blackbook Magazine interviews Tony Hawk on the business side of skateboarding and discovers that like for most of us hardest part of Tony’s job is managing his time.

Prioritizing my time is definitely the hardest. Just in terms of how much time I need to devote to a project, or traveling, or promoting and trying to maintain a stable family life as well.

We still don’t know how he does it.

[Link: Blackbook Mag]

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Joe Carlino Moves On To Greener Videos

by The Editors on November 1, 2010

Transworld Snowboarding video stylist Joe Carlino (and Gary Milton and Hayden Rensch) have reportedly left the magazine to join the Videograss team, according to news released yesterday.

“Adding the entire crew that delivered my favorite video of 2010, In Color which was made by Joe Carlino, Gary Milton, and Hayden Rensch, is a huge step for Videograss,” LeBlanc says. “We feel Videograss makes one of the top 5 snowboarding videos in the world yearly, but adding this new title to our business really brings in a huge element to Videograss. We have now added a big mountain and backcountry element to our video offering. More importantly we have added a production crew that is deep in experience, with all the filmers being highly motivated and talented individuals that previously owned and or started their own video in past seasons. We feel as a company we can now deliver 2 of the top 5 videos for Winter 2011.”

It seems this news comes at an almost oddly perfect time as we’re getting continued reports that the Bonnier Corporation is “losing interest” in continuing Transworld Media video projects. Follow the jump for the entire Videograss release. [click to continue…]

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Agenda Blows Snow With Grenade

by The Editors on October 29, 2010

Danny Kass and The Dingo doing a little promo for Aaron Levant’s snowboarding Agenda January 6 & 7, 2011 in Anaheim. Apparently, there will be no skiing allowed (which is always nice).

[Link: Agenda Trade Show via Radcollector]

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Let’s Sell Longboards, Make Money

by The Editors on October 29, 2010

Concrete Wave’s Michael Brooke sent us this little clip this morning. Apparently, the longboard skateboard community is feeling a little heat from the major labels.

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