by The Editors on November 3, 2008
And now, from the Australia’s Herald Sun:
Globe International has come under renewed fire from investors, including Solomon Lew, over $57 million in related party transactions. . . . Globe investor and investment banker David Williams — who called for a board spill at the company’s annual meeting last month — has voiced concern about a series of deals involving Globe and companies linked to CEO Matt Hill and his brothers, Peter and Stephen. . . .This raises further speculation about the future of Globe, which has in the past two years sold a number of its brands in a bid to streamline the business.
[Link: Australia Herald Sun]
by The Editors on November 2, 2008
The Orange County Business Journal is reporting that Quiksilver is actively looking for funding to help negotiate what it calls one of the company’s “worst downturns in clothing sales in recent memory.”
Quiksilver has hired Morgan Stanley to help it look at ways to raise money, including from existing lenders, through a stock sale or a possible private equity investment. . .The company reworked a European credit line that was due last Friday. Quiksilver is paying its lender $19 million now and deferring $71 million until March. . . Quiksilver said it expects to have about $100 million in cash and equivalents after the close of the Rossignol sale and debt payments made before the close of the company’s fiscal year that ended Friday.
Sadly, some of the recent rumors regarding the surf giant’s financial future appear to be growing legs.
[Link: Orange County Business Journal]
by The Editors on November 2, 2008
At the LG Action Sports World Championships Pierre Luc Gagnon and Paul Rodriguez rolled away with gold medals in Vert and Street.
Gagnon repeated as Skateboard Vert LG World Champion. . . his technical board tricks racked up the points to bring him $30,000 to add to his winnings this year. . . In street: For ten minutes of controlled chaos they pushed their limits and threw one trick after another, cranking the level of skill beyond expectation. In the end, ‘textbook perfection’ is what took the title; Paul Rodriguez (Tarzana, Calif.) earned the Gold with a score of 95.75.
For the entire press release follow the jump.
[click to continue…]
by The Editors on November 2, 2008
It’s not the ranch, but from the looks of this bowl, it’s probably better. Skate and Annoy has more details of a new skatepark in Del Mar, California which reportedly has some Chris Miller and Tony Alva features. Hopefully they don’t use that fence to keep people out.
[Link: Skate And Annoy]
by The Editors on November 2, 2008
Usually skateboarding at school ends in tickets or running from the cops. At New York City’s East Side Community High School it can result in one more A on the transcript thanks to their skateboarding physical education elective.
What started in February as an after-school program run by a volunteer has turned into what school officials believe is New York City’s only skateboarding class for credit.
It’s odd how simple doing the right thing can be.
[Link: New York Times]
by The Editors on November 2, 2008
The Houston Chronicle’s Lisa Gray recounts the sad and inspiring story of how Johnny Romano, the seven-year-old skateboarder with leukemia, turned pro and unselfishly donated his royalty checks to kids who were worse off than he.
Johnny donated his royalties to the Make-A-Wish Foundation and posed for photos with enormous cardboard checks for thousands of dollars. . . . He skated on Fuel TV. He donated Johnny Romano skateboards to charity and autographed them for fans. . . He liked being a Make-A-Wish benefactor, not a recipient. . . . But his luck didn’t hold. In May, with only 10 more chemo treatments on his schedule, he relapsed.
Johnny died on September 23, 2008, but he will not soon be forgotten. The annual Texas Skate Jam For Make-A-Wish scheduled for November 8, 2008 at the Southside Skatepark in Houston has been renamed The Johnny Romano Skate Jam For Make-A-Wish and Johnny’s parents are starting a foundation to support research on childhood leukemia.
[Link: Chron.com]
by The Editors on October 31, 2008
by The Editors on October 31, 2008
In its original sales announcement in August 2008, Quiksilver was reportedly unloading Rossignol to Chartreuse & Mont Blanc for EU75 million in cash and EUR25 million sellers note (or a total of EUR100 million). But that was in the days before the crash. Now the deal, which is supposed to close “in early November,” looks quite different.
. . . the parties agreed to recast the terms of the sale due to the recent challenges in the global credit markets. The revised transaction reduces the cash payment to Quiksilver upon closing from 75 million to 30 million and reduces the seller’s note from 25 million to 10 million.
So, the price former Rossignol CEO Bruno Cercley is now paying for the company is only EUR40 million. That’s a 60 percent discount after only two months. How’s that for a company for which Quiksilver originally paid $320 million?
[Link: MarketWatch]
by The Editors on October 31, 2008
Jen Stewart, the owner of Jen’s Deli in Wilmington, Ohio has just purchased the world largest skateboard from the creators of the board in Bay de Noc Community College.
The huge skateboard, a product of an engineering class project, is recognized as the world’s largest skateboard in the 2009 edition of the “Guinness Book of World Records.” In order to qualify to be in the book, a “Big Wheel” skateboard has to be operational just like a normal skateboard. . . . “There’s no motors, no brakes, and it moves side to side. It has a 50-foot turning radius. Takes 12 people to ride,” an elated Stewart said Thursday after her first time on board.
She said she’s going to use it for parades and special events, and maybe breaking a few more records with it.
[Link: Wnews]
by The Editors on October 31, 2008
Apparently this is news in China (and consequently Boardistan as well):
A burglar tried to flee the scene of his crime on a skateboard but slammed into a wall after a short distance on Oct 22, in Nanjing, Jiangsu province. . . . Around 4.30 am, the thief stole a bag of auto parts from a warehouse and climbed down the wall. . . . As soon as the 30-year-old hit the ground, a security guard in the warehouse tried to capture him. . . . To the sentry’s surprise, the thief jumped on a skateboard and fled. . . .But he was not so adroit on wheels and crashed into a wall and fell, making him an easy catch for the guard.
Haa, haa, haa. Skateboard so funny.
[Link: China Daily]
