by The Editors on February 19, 2009
Fishermen and activists in India’s state of Kerala say that officials are diverting tsunami relief funding and using it to beautify the beaches and tourist resorts rather than funding the rebuilding of the local fishing industry, according to a story on Sky News.
After the tsunami hit activist claim the Indian government said that the tourist facilities in Kerala were “safe and unaffected,” but they changed their minds later and diverted £170 million to tourist projects.
There are now plans to market Kovalam as an international, year round surfing destination by using the funds to construct a 500 metre artificial reef at a cost of almost half a million pounds. . . . It would be India’s first specialist surfing and wave sport destination. . . . “How can such activities protect coastal population and environment from disaster like tsunami?” asks Ajay of Janamunnettam, a network of civil society organizations. . . . “Kerala Tourism is insulting and fooling the affected communities while claiming these activities as coastal protection.”
Then again, no one throws their money around more than tourists, though surf tourists are not exactly who we’d want to go after is we were looking for a steady revenue stream.
[Link: Sky News]
by The Editors on February 19, 2009
The Oakley/Surfing Life Big Wave Awards celebrating big waves ridden in Australia were held last night and surfer Marti Paradisis, 25, walked away with the award for “the biggest paddle-in ride and the award for best overall performance for 2008-09,” according to a story on The Mercury.
Marti Paradisis, 25, of Clifton Beach, won the award for the biggest paddle-in ride and the award for best overall performance for 2008-09. . . . This makes him the first surfer in the history of the national competition to win two awards in one year.. . For this year’s competition, Paradisis continued to surf at Shipstern Bluff but he also tackled the newly discovered wave at Eddystone Rock, near Pedra Branca, off Tasmania’s South-East.
Yeah, that looks pretty big.
[Link: The Mercury]
by The Editors on February 19, 2009
Billabong profits are down 7.1 percent in the “first half” thanks to the US economy, according to a story on News.com.au. Not knowing all the much about currency markets it’s always funny to hear companies saying things like this:
“While the company has experienced margin erosion in its biggest division, the Americas, the effect is being partially offset by strong appreciation in the US dollar against the Australian dollar,” Billabong chief executive Derek O’Neill.
So, if we’re hearing this properly, sales in the US are down, but luckily for Billabong the Australian dollar is going all to hell. Good times in international business, huh?
[Link: News.com.au]
by The Editors on February 19, 2009
The economy didn’t seem to pull Volcom down too much last year according to their 2008 Q4 and full year results released this afternoon. Total consolidated revenues for 2008 were up 25 percent, and probably the best news: “the company generated $24.7 Million in operating cash flow,” has $79.6 in the bank with absolutely no long-term debt. Wooly explains it:
“While the ongoing global macroeconomic turmoil affected our results for the 2008 fourth quarter and full year, the underlying strength of Volcom is well intact,” said Richard Woolcott, Volcom’s chairman and chief executive officer. “In the face of this economic uncertainty, we are working to maintain a healthy balance between being aggressive when we see opportunities and pulling back where we can, including reducing our cost structure. We have a solid cash position and a strong global brand with a devout following. Further, we believe that our product line-up for 2009 is one of our best ever. We plan to approach the year with discipline, commitment and focus, and we remain confident in our ability to ride this period out and prevail as an even stronger company.”
According to the OC Business Journal, however, moving into 2009 things aren’t going so well. Volcom “warned of a big shortfall in profits and sales for the current quarter” . . . projecting “a profit of $3.1 million to $3.9 million for the current quarter, well below the $6.3 million analysts had been forecasting.” That may explain why they cut eight percent of their employees and are giving many others reduced pay.
We would have listened to today’s conference call, but apparently the Volcom audio server doesn’t like Macs, or maybe it’s just us.
For all the press release details follow the jump, or click here for a complete transcript of the call from Seeking Alpha.
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by The Editors on February 19, 2009
Super model Erin Wasson unveiled her new line for RVCA at the Milk Studios Penthouse space last night (February 18, 2009), according to a story on Heralddeparis.com.
Joined by some of her famous friends at the fabulous Milk Studios Penthouse space, Elle’s Kate Lanphear and Joe Zee, Leighton Meister, Alexander Wang, Coco Rochas, Cory Kennedy, The Cobrasnake himself Mark, and countless other models and models off duty. . . . So break out a pair of baggy cut off denim shorts, black tights, mismatched denim, leather and some crushed velvet for that extra fall touch. Erin’s Fall | Winter 09 will keep you in a Cali spirit, even if your no where near the warm temperatures.
Click through for great photos and poor writing. Or hit Thecobrasnake.com for all the goods.
[Link: Herald de Paris and Thecobrasnake]
by The Editors on February 19, 2009
A researcher at the University of Florida says that the bad economy is most likely responsible for a drop in shark attacks world wide, according to a story on the University of Florida website. It’s not that the sharks noticed any difference in the markets, it’s that fewer people traveled to the beach says George Burgess, ichthyologist and director of the International Shark Attack File.
According to the latest statistics released today, the total number of shark attacks declined from 71 in 2007 to 59 in 2008, the fewest since 2003, when there were 57, said Burgess, who works at the Florida Museum of Natural History on the UF campus. . . . “I can’t help but think that contributing to that reduction may have been the reticence of some people to take holidays and go to the beach for economic reasons,” Burgess said. “We noticed similar declines during the recession that followed the events of 2001, despite the fact that human populations continued to rise.”
When we think about how many shark attacks there were at New Smyrna Beach alone it’s hard to believe it was a down year.
[Link: University of Florida News]
by The Editors on February 18, 2009
Billabong founder Gordon Merchant has run into a little trouble while building his AUS$12 million beach house in “the tiny NSW wave haven of Angourie” New South Wales, Australia, according to a story on Goldcoast.au.com. And it all centers around a two-meter tall pole Merchant has erected to hold a camera that would allow him to check the surf from anywhere in the world.
A letter sent to The Gold Coast Bulletin outlined residents’ concerns over the camera that will sit atop the roof of the three-storey beach house. . . . “We residents feel our privacy infringed, as this camera peers into our living and bedrooms 24 hours a day,” said the local, who wished to remain anonymous. . . . Residents also believe the pole is above height restrictions for the area.
Clarence Valley Council Mayor Richie Williamson is quoted as saying the city council has received complaints, however he says the “The property developer has said if there are any privacy concerns over the camera they would modify the design.”
Since a pole surf cam is something we’ve thought about many times we have an idea for Gordon: put the camera on a telescoping pole that will up-periscope when you want to check the surf and then hide away when you’re not using it. And don’t put it up until well after the house is completed and the neighbors are no longer nosing around. Then no one will be the wiser and you can thrust your pole into the sky as high as you want.
[Link: Goldcoast.au.com]
by The Editors on February 18, 2009
In a letter to friends and family Ross Garrett, the former group publisher and president of media at Airborne Media LLC, says that while he is still a partner at Airbourne, he has accepted a new job.
I’m excited to let you know I have accepted a position as Director of Operations and Development for Journal Concepts Incorporated, the parent company of The Surfer’s Journal. While I remain a partner at Airborne Media LLC and have a vested interest in Foam Magazine and Airborne’s other properties, I will be day-to-day with Steve and Debbee Pezman at the business they built in San Clemente, Ca. My mission at Journal Concepts is to grow the platform, improve the efficiency of the current operations, and grow The Surfer’s Journal itself. How that unfolds tactically, is something I will sort out with Steve and Debbee in the coming months.
Congratulations, Ross. Follow the jump for the official press release.
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by The Editors on February 18, 2009
The USC crew at Quiksilver got a little deeper recently when James G. Ellis was added to the Board of Directors on February 13, 2009.
Ellis is the dean of the Marshall School of Business at USC. He began his career with Carter Hawley Hale stores and rose to vice president of Merchandising for the Broadway department store chain. . . . Later, he became president and CEO of American Porsche Design and has been involved in several other entrepreneurial ventures. He held leadership roles in several apparel manufacturers and action-sports companies.
Sounds like Mr. Ellis has all the skills necessary to help pilot Quiksilver into the storm.
[Link: OC Metro]
by The Editors on February 17, 2009
A boat with 30 illegal immigrants from the west coast of Morroco onboard capsized in the surf near Lanzarote in the Canary Islands and a Uruguayan surfer named Christian Hunt was able to rescue six of them, according to a story in the Irish Times.
Mr Hunt said he ran into the surf from his beachside house after his wife saw that the boat had capsized. “When I got out there it was already a nightmare scenario. There were people floating off, the boat was overturned and several people were still holding on to it,” he said. “They would all have gone to the bottom if they hadn’t managed to grab the boat.” . . . While he threw himself into the water, his wife ran to get the surfboard, which he used to ferry the immigrants towards the beach. Mr Hunt said that on one of his journeys to the boat a 14-year-old boy told him to look for a smaller child first. “I hadn’t realised that he himself was so young,” he said.
Twenty-one others died in the accident and three others were still missing according to the story.
[Link: Irish Times]
Fishermen and activists in India’s state of Kerala say that officials are diverting tsunami relief funding and using it to beautify the beaches and tourist resorts rather than funding the rebuilding of the local fishing industry, according to a story on Sky News. 
