Damion from Boardcollector has announced a new surfboard valuations forum on Facebook. So if you, or your customers are stuck on the value of an old trade in or customer inquiry, particularly anything collectable, this could be a valuable resource. The Board Collector is a website dedicated to exploring and enjoying the shapers and surfcraft mainly from the 'innovation period' of surfboard design- 1975 to 1985.
Quiksilver Inc (USA) said Monday it has completed an exchange of shares for $140 million in debt, a move that stands to bolster its once crippling balance sheet. Quiksilver exchanged 31.1 million shares worth about $140 million for the debt, which was held by with New York-based Rhone Group LLC. The debt stems from a deal struck with Rhone last year that helped Quiksilver finance a U.S. line of credit and consolidate its European debt. The Rhone financing was seen as a lifesaver for Quiksilver, when the company was nearly sunken by 2005’s $560 million ill-fated buy of French ski maker Rossignol. The shares for debt exchange with Rhone “provides us with additional operating and financial flexibility,” Chief Executive Bob McKnight said. After retiring the debt, Quiksilver expects to rework its credit lines with better terms and strike a deal to pay off $25 million in remaining debt owed to Rhone. The moves are expected to boost profits, as the Rhone loans carried a 15% interest rate, steeper than Quiksilver’s debt before the financing deal. Quiksilver has given up a sizable chunk of the company to rework its finances. Rhone now owns nearly a third of Quiksilver, up from 16% before. Quiksilver said it had entered a pact with Rhone that caps its ownership. “Rhone has become a major presence in our board room and they have added significant value to our business,” McKnight said.
The Agenda tradeshow consumed The Hyatt Regency in Huntington Beach, California, for two days August 4-5, mixing business, pleasure and the hype of the U.S. Open of Surfing. Agenda has gained solid momentum over the last few seasons and it showed in Huntington Beach. The layout of the show consisted of three labyrinth-like levels of showrooms filled with exhibitors (many first timers), and a steady pace of floor traffic.
The Gold Coast City Council is seeking expressions of interest from local industry to participate in the Surf Expo trade show in Orlando, Florida from 6 -15 September 2010. The Gold Coast City Council mission to Surf Expo will offer a unique opportunity to exhibit at the Gold Coast Business GC hosted trade booth and gain an insight into the potential of the US market. Business Gold Coast is the economic development agency for Gold Coast City. Funded by the Gold Coast City Council, Business GC is responsible for developing a sustainable Gold Coast City economy through industry development initiatives and investment attraction programs. Costs for the mission include accommodation and other costs associated with travel to Orlando, Florida and if applicable, on to Fort Lauderdale, USA.
Things are hotting up in the trade show wars. Just as rival trade show Agenda swung into full gear this week, ASR which has acted as the surf industry’s meeting place for nearly 30 years has announced the largest array of surf brands, shapers and events in the show’s history when it returns to San Diego this August 13th-15th. The addition of the Sacred Craft Consumer Surfboard Expo will add over 100 surf hard goods and shapers along with consumers to the mix. Events ranging from surfboard auctions to standup paddle demos will educate and entertain retailers between appointments. “We’re committed to servicing every aspect of the action sports market for the thousands of retailers who travel from around the world to attend ASR,” says Andy Tompkins, VP of ASR. “The combination of brands and events at ASR, CLASS@ASR and Sacred Craft will offer something for every segment in the surf industry.”
The rapidly increasing tide of concern for preservation of sharks in Australia has led to the establishment of two new organisations: Whitetag, a collective describing itself as “a conduit for scientifically supported research,” and its sister-entity, the not-for-profit Tag For Life trust. Both were founded by Victorian conservationist and surfer Kent Stannard, out of his concern at the parlous state of funding for shark conservation research.
12:41PM / Torquay / Vic / Aus
