Wall Street

Mt. Snow Wins Dew Tour Lawsuit

by The Editors on May 15, 2014

MtsnowA federal court has ordered the Dew Tour to pay Mount Snow Resort more than $2 million dollars after the tour allegedly jumped out of a contract and moved the event to Killington, according to a story in the Battleboro Reformer.

In its verdict, the jury concluded that The Alliance of Action Sports, NBC Universal Media and NBC Sports Ventures breached their contract agreement with Mount Snow when it moved the 2010 tour stop from the Dover ski resort to Killington. . . In January 2012, Mount Snow filed suit in U.S. District Court for the District of Vermont, claiming the defendants had breached the contract, costing Mount Snow more than $3 million in damages related to the media value of hosting the tour stop.

Nice to see someone win one against the “flame retardant, mouse dissolving, caffeinated, carbonated high fructose corn syrup” tour isn’t it? Wonder if Mt. Snow will ever get their money?

[Link: Battleboro Reformer via Jeff Greenwood]

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Burton Goes In-House For New CEO

by The Editors on May 14, 2014

Burton-Ceo-MikereesIt’s been four years since Laurent Potdevin resigned as CEO of Burton Snowboards. And since then, Jake and Donna Carpenter have been running the business themselves while they conducted a search for a new CEO. That search has apparently ended as the company announced today the promotion of COO Mike Rees to the position of CEO of Burton Snowboards.

“Four years ago when I got my old job back as Burton’s CEO, my goal was to get the company headed in the right direction, build up our leadership team and establish a clear plan for the long-term future of the brand,” said Jake. “Looking back, we’ve accomplished these goals and have a solid foundation in place. Now it’s time to turn over the day-to-day tasks of running Burton to a new CEO. Our entire Board of Directors, our Executive Team, Donna and myself trust that Mike is the right person for the job. He has the experience, skills and leadership qualities to take our vision and run with it. And I’ll still be around, giving product feedback, testing new gear, working with the creative crew and advising Mike.”

Rees obviously knows the business and that’s good. For the official word from Burton, follow the jump. [click to continue…]

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Occy Puts Son Jay To Work At Billabong

by The Editors on May 5, 2014

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Proving that kids are never too young to get to work, Mark Occhilupo has just signed his son up for a two-year contract with Billabong, according to a story in the Herald Sun. Jay Occhilupo is just 11 years old.

One of the youngest surfers to ever receive a sponsorship deal from the iconic brand, Jay joins a star stable including Joel Parkinson, Taj Burrow, Andy Irons, and dad. . . “I’m feeling stoked, I was hoping for it but I wasn’t expecting it so soon,” Jay said. . . Mark Occhilupo was 14 when he was signed by Billabong more than 30 years ago. . .“So it’s fitting for Jay to be in the Billabong team,” Mark said.

If the kids are going to do the work, they certainly deserve to get paid. We hope the best for young Jay.

[Link: Herald Sun]

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Electric Purges Bolt Logo From Website

by The Editors on April 30, 2014

Electric Ba

Remember that Electric “lightning-bolt-in-a-circle” logo that was causing so much grief like yesterday? The one that looked surprisingly similar to a logo found in secret Ku Kluz Klan documents? Well, it’s been purged from the Electric website entirely (see the before and after above). Gone. Now the site’s header simply says Electric California, just like their URL. Fast work on the part of Kering’s action sports accessory brand. And likely the right thing to do considering the backlash.

Meanwhile, check out hese fabulous new watches? The Electric Dive 02 is a dressy, sporty, fashionable watch that still has the lightning bolt logo on it’s face. Can’t change everything overnight right? Click the link for more on the watches.

Dive 02

[Link: Electric California]

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The ASP Buys The XXL Awards

by The Editors on April 29, 2014

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In another interesting development in pro contest surfing the Association of Surfing Professionals has purchased the XXL Awards from Billabong, The ASP will own the franchise and Billabong will maintain “a key naming rights position.

“This is a night to celebrate big wave surfing and we’re very pleased on the partnership between Billabong XXL and the BWWT Awards and the acquisition of the XXL Property,” Paul Speaker, ASP CEO, said. “This is a platform to honor the brave men and women who dedicate their lives to the art of big wave surfing and we are honored to continue this tradition in future years.”

Since the XXL awards are basically a TV awards show (aside from all the death defying surfing everyone else is recording), this property will likely fit very well in the ASP’s current skill set. The show has come a long way since it’s beginnings with K2. Nice work, Bill Sharp! For the official word from the ASP, please follow the jump.

[click to continue…]

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Supra Goes Big In Japan Alright

by The Editors on April 29, 2014

Japan Supra

Things will happen while they can and Supra has launched their first Tokyo retail store (featuring a rooftop skatepark with a view). It’s easy when you’re big in Japan

Located in the bustling Diver City shopping plaza in Odaiba, SUPRA Tokyo is a bright, wide open space reflecting the Southern California aesthetic of SUPRA’s birthplace. The new store offers a full selection of footwear and apparel for men, women, and children with the addition of special releases exclusive to Tokyo. “After overwhelming support of the SUPRA Tokyo Pop Up store in Shibuya, we wanted to offer all of the loyal clients a permanent shopping destination,” said Angel Cabada, SUPRA co-founder.

The new store is loved at Diver City Tokyo Plaza, 1-1-10 Aomi Koto-ku, in Tokyo. Follow the jump for the official word from Supra. [click to continue…]

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Electric CEO Response On Facebook

by The Editors on April 28, 2014

Electric Facebook

In a post on the Electric Facebook page company CEO Eric Crane said the following to what appears to be employees of the company:

An unmistakable similarity of our logo to a logo used by an extinct racist/nationalist group has been brought to our attention. We first becme aware of this comparison through a post to our Facebook site, it then showed up on a few other blog threads. Although it is not a registered hate symbol, the logo appears on an 80 year old pamphlet in a photo depicting a man dressed in racist garb.

In no way is ELECTRIC connected to, or inspired by anything related to discrimination, racism, or otherwise . . . and we will never be. The ELECTRIC mark’s resemblance to something that was used by a select few in an ugly part of America’s heritage is purely coincidental. Our logo was developed as a product of design refinement of the original volt, with simplification as the goal.

The ELECTRIC brand has been built over the last 15 years using the image of a lightning bolt to represent the positive and creative energy harnessed in the products we make. The logo has come to represent the shared passion of our international team of athletes, employees, and ambassadors to improve the experience both in and out of the water, on and off the mountain, and life in between.

The ELECTRIC brand stands for so much more than just a logo, or someone’s perception of what we are about. The energy and effort that have gone in to the company over the years have been extraordinary, we have a lot to be proud of.

Please reassure all that any connection implied of ELECTRIC to anything racists is preposterous and at best unfortunate. We have been discussing the issue internally each day and addressing the few inquiries we have gotten from our family, friends, and customers. Please don’t let this get you down!

If you or anyone you know has any questions regarding this issue, please feel free to let me or your manager know.

And yes, it all sounds reasonable though unfortunate.

[Link: Electric Facebook]

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Dave Lester Named GM Lost Surfboards

by The Editors on April 24, 2014

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Lost’s Mike Reola, Dave Lester, and Matt Biolos in front of a quiver to die for.

Lost SurfboardsMatt Biolos and Mike Reola have named former Quiksilver VP Global Wetsuit Division Dave Lester (above middle) as the General manager of Lost Surfboards.

“Dave will be overseeing all aspects of our surfboard business with his major focus being on sales, shop relationships, production, operations and marketing,” said Reola.
. . “Dave has so much experience in the business and is such a core surfer. His skill set, relationships and experiences are just what we were looking for in a General Manager,” said Biolos. “He is going to help us organize and streamline our surfboard business so that it runs more efficiently.”

It’s always nice to see people leave the fashion industry and get back to surfing. . . For the official word from Lost, follow the jump. [click to continue…]

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Investors Call Potdevin “Dumpy”

by The Editors on April 23, 2014

Lululemon1You may remember Laurent Potdevin. A while ago he was the President of Burton Snowboards. He did that job for five years then went on to be the CEO of Toms Shoes. Most recently, Mr. Potdevin was named CEO of Lululemon (the yoga pants company started by Westbeach founder Chip Wilson). Things at the suburban mom shaping factory haven’t been going that well for Mr. Potdevin and some investors feel that has to do with Laurent’s pot belly, according to a story in the NY Post.

Meanwhile, some investors who attended the meeting said they were surprised to see that Potdevin, in his first major public appearance since he took the helm in January, didn’t exactly look the part of a fitness mogul. . . “He was kind of … dumpy,” one shareholder said, noting that Potdevin wore baggy clothes with an untucked shirt that failed to hide a bulging stomach . . “If he’s a competent leader, he’s a competent leader,” another investor said. “But you’ve got to ask whether this guy is really in touch with the mind-set of his core customer in the athletic space.”

Make a presentation on a bad day and the stock falls five percent. Being the CEO of a publicly traded company must be really fun.

[Link: NY Post]

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Mervin Manufacturing Slims Staff

by The Editors on April 16, 2014

44604Sequimlibtech1Mn4-16-14Mervin Manufacturing, the snowboard company formerly owned by Quiksilver and sold to Altamont Capital Partners (owners of Dakine) last fall, has cut a full 20 percent of its staff according to a story in the Sequim Gazette. The employees were notified on March 30, 2014.

Pete Saari, co-founder of the Carlsborg factory-based company, confirmed that they restructured and cut 20 percent of their staff in late March after shifting from a public to a private business model in November 2013. . . “As part of a larger restructuring initiated by our return to a privately held business model we have renewed our commitment to a healthy build-to-order-manufacturing strategy,” Saari said. “An unfortunate result of this was a one-time adjustment to our staffing in our Carlsborg manufacturing facility.”

Most of the employees who were cut were described as “weekend employees of the snowboard division.” Just one more page in the seemingly unending story of Pete Saari and Mike Olson’s constantly evolving snowboard company. Yet still, those two remain. Thankfully.

[Link: Sequim Gazette]

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