by The Editors on October 23, 2008
This just keeps getting funnier. Today approximately 100 people reportedly gathered at Burton Snowboard’s offices in Burlington, Vermont to “demand that the two lines of snowboards be pulled from the market,” according to a story on Fox News.
Women’s groups and a group of men working against domestic violence have joined a growing chorus of criticism directed at the snowboards. . . . Two community groups have withdrawn their participation in a Burton-sponsored program to introduce disadvantaged kids to snowboarding.
Burton CEO Laurent Potdevin even released a statement to The Burlington Free Press saying that Burton “stands behind it’s products and has no plans to recall the Love and Primo models that have caused anger in portions of the community.”
And why would they after all this free promo?
[Link: Fox News and The Burton Protest via The Burlington Free Press]
by The Editors on October 20, 2008
Earlier today reports of Miami-based action sports mall retailer Adrenalina putting out a $293 million buyout out offer to Pacific Sunwear have now turned into stories of the whole deal being tabled according to a report on Just-style.com.
Original reports quoted Adrenalina CEO Ilia Lekach saying the following:
This action represents our confidence that Adrenalina can reinvigorate PacSun – a powerful brand name whose underlying retail concept has grown stale – by applying our innovative approach of fusing an exceptional product mix to an exciting entertainment destination,” Lekach said in a news release.
The Motley Fool has already called bullshit on the deal.
While the surf-and-skatewear company could use a lift — its stock is off about 80% from its 52-week high — this looks like little more than a publicity stunt or a bid to boost Adrenalina’s own stock price. That’s because its chairman and CEO is Ilia Lekach, who has a rich history of playing such games.
Adrenalina stock got a 40 percent bounce this morning all the way up to $1.70. So maybe the offer was enough.
[Link: Just-Style and Business Journal and The Motley Fool]
by The Editors on October 20, 2008
As much as we hate seeing snowboarders and skiers lumped together in the mainstream press we could do much worse than Tora Bright and skier Sarah Burke together in the New York Daily News, especially with photos from Tim Zimmerman and Brian Craighill.
And while the two women get plenty of exposure endorsing the Roxy outdoor lifestyle product lines, it may not be long before the freestyle skier Burke and snowboarder Bright are recognized for their athletic talents as much as their model looks.
“Model looks?” oh, that’s what this is about. Click the link for the rest.
[Link: New York Daily News]
by The Editors on October 20, 2008
Fortress Investment Group, the private equity fund that purchased Intrawest in 2006 for $2.8 billion has reportedly approached potential and existing lenders about a refinancing of $1.4 billion of Intrawest’s senior debt according to a story in the Financial Times.
Fortress controls Intrawest via a $1.37bn equity stake. With Intrawest’s debt trading at less than 70 cents on the dollar, Fortress has approached potential and existing lenders to discuss a refinancing involving $1.4bn in senior debt. Fortress is putting in $100m of additional capital to preserve its equity’s value. . . . People familiar with Fortress, which operates hedge funds and private equity vehicles, say there is a low probability Intrawest will file for Chapter 11 bankruptcy protection.
Low probability? We guess that’s a good thing, right?
[Link: Financial Times]
by The Editors on October 16, 2008
Thanks to Burton’s Love Line and Primo Line of snowboards a Vermont “community-based nonprofit organization with more than 38 years of experience” is going to refuse donations from the company this year, according to a story on WCAX.com.
Spectrum Youth and Family Services is rejecting donations from the company. Each year the “Burton Chill Program” provides homeless and at risk teens with free gear and lift tickets at Bolton Valley. . . . Administrators at Spectrum say they will not participate this year, because the company is producing products that go against Spectrum’s values.
Guess that’s just another cost of trying to be everything to everybody.
[Link: WCAX.com]
by The Editors on October 16, 2008
Snowboard mountaineers John Griber, Doug Stoup and Sean Busby are headed south to lay down some first descents in Antarctica. And Busby, the 24-year-old University of Utah student, former Olympian, and Wasatch Academy Snowboarding director is the star of the show, especially since he has diabetes.
The trip, which begins Oct. 25 and ends Nov. 15, has visits along the way to such misnamed places as Paradise Bay. . . The crew involved will spend time on the frozen continent documenting their travels and experiences. They will also take satellite phones and laptops in order to upload daily broadcasts and updates to children’s hospitals where patients suffering from diabetes are receiving treatment.
Nothing like a few first descents to give the kids a little hope.
[Link: Deseret News]
by The Editors on October 16, 2008
Props Snowboard and Skateboard Shop in Winnipeg, Manitoba, Canada went up in flames in the early hours of October 15, 2008, according to a story in the Winnipeg Sun.
I would say an early damage estimate would be in the region of $500,000,” said Det. Darryl Drewniak, of the arson strike force, who was among the first investigators on scene. “There is substantial damage to the property.”
It would appear that arson was suspected in the “mysterious fire.”
[Link: Winnipeg Sun]
by The Editors on October 15, 2008
Ray’s Apparel and Split Clothing will be no longer in 60 days according to an Adam Sullivan story on Transworld Business.
“Rays Apparel has always been a very profitable company,” explains Ray’s Apparel president Jim Stark. “We got into mid-2008, probably about May, and started running into the same economic woes and problems that our competitors have been having. And for the past four or five months, we’ve been losing money. And it certainly looks that way for the balance of the year.”
While more than 60 employees will reportedly be out of a job, Stark says Split will “continue shipping product into 2009.” The Split brand, however, is up for sale. . . seems like it would be a perfect for one of the mall chain stores. PacSun? Buckle? Zumiez? Anyone?
[Link: Transworld Business]
by The Editors on October 15, 2008
London’s Battersea Power Station lights up October 23-26, 2008 as the Freesports On4 Freeze is unleashed on the British Isle. While we’ve been a little hard on big, fake, uber-snow sport spectaculars like this and San Francisco’s Icer Air, they are probably fun for little Johnny and Janie Doad who never get to see snowboarding in person.
We don’t feel bad for the big name snowboarders who definitely get paid by attending. We just feel bad for the c-level show ponies who have to do their dancing bear routines in hopes of landing Shaun White style paydays in the future. And hey, Cypress Hill is playing the main stage so that might be worth a few hucks off the scaffolding booter.
[Link: London Freeze via Londonist]
by The Editors on October 15, 2008
The 200-foot-long tunnel that takes Lake Mary Road under The Eagle Express lift at Mammoth Mountain collapsed on Friday, according to a story in the LA Times .
Mammoth Lakes officials are say the cause of the collapse has not been determined, but the incident doesn’t appear to be a random event. A bike path has been under construction along Lake Mary Road and a second tunnel was being dug about 20 feet on the downhill side of the original tunnel at the time of the collapse.
No was was injured in the collapse, but it has closed Lake Mary Road in both directions. A detour has been set up to allow traffic up to the Lakes Basin. Kind of nice that this happened now and not when the mountain is open and the loaded with snowboarders.
[Link: LA Times]
This just keeps getting funnier. Today approximately 100 people reportedly gathered at Burton Snowboard’s offices in Burlington, Vermont to “demand that the two lines of snowboards be pulled from the market,” according to a story on Fox News.
