Wall Street

The Estate That O’Neill Built Is For Sale

by The Editors on July 15, 2020

O’Neill founder Jack O’Neill’s daughter Shawne is putting her 55 acre Santa Cruz estate up for auction, according to a story in the Sacramento Bee

A 55-acre Santa Cruz area ranch . . .  is heading to auction. . . Previously listed for $6.3 million, Rancho de los Corralitos – nestled between the Santa Cruz Mountains and the Pacific Coast – is selling without reserve. . . Platinum Luxury Auctions, a Miami-based luxury auction company, will oversee the bidding on July 18, 2020.

Despite being visually pitched as a property for a-hole polo players, the house is pleasantly understated and that cabin!!! We’d pony up a $10,000 bid, but we’re guessing the property taxes are a bit out of our league. From the looks of it, wetsuits have certainly done well for the O’Neill family.

[Link: Sacramento Bee]

 

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The Monday New News List

by The Editors on July 13, 2020

Welcome to the Monday afternoon news list. Most of it is here. Most of it is readable.

And, we did it all for you with not one lick of inane commentary. Click. Read. Enjoy. Stay well. Wear a mask.
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SIA Town Hall With Selema Masekela

by The Editors on July 8, 2020

Beginning July 14, 2020 the Snowsports Industries of America will host a series of conversations to help the winter outdoor industry better understand diversity, equity and inclusion issues and the role and responsibility our industry plays in creating positive change. The conversations will be hosted by Selema Masekela

Selema’s upbringing is very textured; it is one which led him to often being in places where he was ‘The Only,’ whether that was as an 8 year-old sitting in on late night jazz sessions with Miles Davis, becoming the face of ESPN’s X Games and bringing action sports to pop culture, or creating films and television that strike a chord with our human dilemma; who are we, what drives us and gives us joy. It is this mission that has Selema telling stories of others like him – highlighting people and places through lenses that break molds and redefine culture. He is the co-founder of  Stoked Mentoring, an organization dedicated to mentoring at risk youth through action sports.

The first Town Hall session is up on Tuesday, July 14, 2020 at 1 PM MDT. For all the details click here or follow the jump.

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Tony Hawk Removes Name From Foundation

by The Editors on July 1, 2020

Tony Hawk has officially removed his name from the skatepark building foundation he founded two decades ago, and renamed it The Skatepark Project. Here’s how Tony spins it:

“When the foundation was established nearly 20 years ago, my goal was to highlight the need for public skateparks in underserved communities, and to attract resources to those projects,” said Tony Hawk. “This name change prioritizes our mission, and still allows me to continue my role as President of the Board. The foundation (and its funding) was never about me, it has always been about creating skateparks in challenged areas.”

While we liked it being the Tony Hawk Foundation, we totally understand the change. And hey, it might just open the door up for a new title sponsor, right? 

For all the official details, please follow the jump.
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BOA Adds Sage Kotsenburg To Team

by The Editors on May 28, 2020

We’re pretty much to the point where we’d like all our footwear to feature BOA closures. They are quick to lock down, easy to adjust on the fly, and simple to replace when they wear out. So, we were glad to see that we are not alone in our love for the twisties and Sage Kotsenburg has joined Travis Rice and Mark Sollors on the BOA snow team.

“During a time when much of what these dedicated athletes do for a living is on hold in the usual sense, be it on the mountain, trails, or in competition, it is important for us to support this community and continue to build meaningful, long-term partnerships,” says Shawn Neville, CEO at BOA Technology. “Our product innovation efforts haven’t slowed during these uncertain and unprecedented times, and neither will our commitment to our Pioneers whose dedication to their sport is invaluable to our business.”

For more of the official word from BOA, please follow the jump.

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Burton Cancels 2021 US Open

by The Editors on May 26, 2020

Thanks to the old COVID-19 Burton is out of their US Open Snowboarding Championships contract with Vail Resorts after cancelling the 2021 event. Not a big surprise seeing as the event was dragged through the press as being one of the alleged hotspots responsible for spreading the virus to Mexico City. Sadly, it brings to a close the longest running snowboarding event in history. It’s been held every year since 1983.

“This was a difficult call to make since we’re so many months away from the next Burton U.S. Open, and we’re not sure what will be happening with the pandemic nine months from now,” said Burton CEO John Lacy. “After playing out multiple options for the 2021 event, we realized there is too much at stake due to the potential public health risk and the financial risk for Burton to invest millions in an event that could end up being cancelled.”

With so many events being cancelled we’re almost getting immune to the pain, but this is definitely one of the saddest. For the official word from Burton, please follow the jump.

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Dakine Closing Hood River Offices

by The Editors on May 6, 2020

They lasted longer in Oregon than most anyone thought, but the COVID crisis is forcing everyone to make the hard decisions. Dakine is no different. They are reportedly closing their Hood River offices, laying off 39 people and leaving their roots behind, according to a story in the Bellingham Herald.

“The current health crisis, and the corresponding Oregon stay at home order were unforeseen business circumstances, and have made it financially unfeasible for the company to continue operating,” Dakine human resources director Raeanne Norberg wrote in a letter to state workforce officials.

Dakine says they are moving a couple people to their SoCal offices. Sad news for sure.
 

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Long List of Headlines From The Now

by The Editors on April 28, 2020

A long list of stories for our time this week. Some don’t even mention COVID-19. We can say that when everyone is locked up in their own homes they just don’t generate as much news. Duh! So here you go.

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Super-Mega Pass Buyers Sue Resort Corps.

by The Editors on April 22, 2020

Several skiers who bought super-mega passes from North America’s two major ski resort operators (without apparently reading the fine print which we warned our readers about last spring) are now suing these same companies for not offering refunds when the resorts closed early due to COVID-19, according to a story in the Summit Daily.

A class-action lawsuit was filed against Vail Resorts on April 10 claiming false advertising, fraud and negligent misrepresentation, among other counts, due to lost mountain resort access without pass refunds. Four days later on April 14, a similar lawsuit was filed against Alterra Mountain Co., citing that by retaining revenue generated from Ikon Pass sales, the company holds tens of millions in unjust profits as the ski areas and resorts were closed prematurely. 

Obviously, ski resorts are not the only businesses currently facing lawsuits over COVID-19 shutdowns. Nearly every business that sells passes, like theme parks, gyms, and sports courts, are feeling similar pressure.

Seeing as we are not fans of the super-mega passes in the first place (unless you’re riding over 20 days a year at the same resorts) part of us feels the pass buyers got exactly what they had coming by agreeing to assume all risk for the upcoming season. Then again, the way resorts sell these passes is a classic example of corporations taking advantage of their customers by offering something for sale that the buyers obviously don’t understand. Guess we’ll have to see whose lawyers are better. We’re betting on the resorts’. 

[Link: Summit Daily]

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Vans President Sends COVID-19 Letter

by The Editors on April 22, 2020

Vans Global Brand President Doug Palladini sent a letter to Vans employee world wide outlining the work that Vans is currently doing to support those in need. He included the Vans ‘Foot The Bill’ initiative, product donations and partnership with Hedley & Bennett to use Vans’ shoe canvas to make and donate more than 250,000 reusable facial masks.

As a brand engrained in the belief that we aren’t a shoe and apparel company but a people company that makes shoes and apparel, looking after our people has always been and will remain our top priority. This commitment rang true in March as we made the decision to shift corporate offices to remote working and temporarily closed our stores in the U.S. and Canada to prioritize the safety and health of you and all of our store associates. I am especially humbled by the fact that in partnership with VF Corp., we’ve been able to ensure that our store associates have continued to receive full pay and benefits during closures. Additionally, I want to express my personal appreciation for our distribution center associates who continue to facilitate consumer purchases from Vans.com. Their dedication to our brand is truly inspiring and together with VF Corp., we continue to implement proactive steps to uphold the well-being of our associates.

During these rough times it’s great to see good people (and brands) rising to the challenge in such positive ways. So stoked that Vans is able to do the right thing for their employees and for people around the world. For the entire letter, please follow the jump.

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