Here we go again
“Oaktree is rumoured to be exploring a merger of Billabong and Quiksilver. Oaktree owns about 90 per cent of Quiksilver after a $US600 million ($A850 million) refinancing in February, when the retailer’s North American operations emerged from Chapter 11 bankruptcy.” – SMH
“Billabong International has slumped back into the red, losing $1.6 million in the December half, after posting losses in North America and weaker than expected profits in the Asia-Pacific region.” – Sydney Morning Herald
“Now that Billabong has a stable leadership team and a strong bench in the Americas group, he knows the business is in good hands, he told SES in an interview today.” – SES
“After getting into the business to surf more, I’m now stepping back from the business to surf more.” – Ed Leasure / SMH (Billabong CEO – leaving the sinking ship)
Peter Mel speaking with Mick Fanning who had just lost his older brother
Gabriel Medina – The 6.5 that took the win and beating Mick Fanning. Many have commented that a big score for an air at a tube riding contest? Sorry, people if it was 10ft Pipe their would be no airs, but only tubes so when you don’t have priority and it’s 5ft the whole “tube riding” goes out the door. Gabriel was smart and didn’t wait for a “tube” and if he had he would’ve never advanced – very smart competitor!
Adriano De Souza vs. Gabriel Medina at the Billabong Pipeline Pro
“Billabong International Limited (ASX: BBG) saw its share price crash 22.9% to $0.54 after the surfwear retailer reported that a number of headwinds had impacted on earnings by $2.5 million in the first four months, compared to the prior year.” – Motley Fool
“Online surf and skate-wear retailer SurfStitch is now worth more than former parent Billabong International after a series of acquisitions turned the former e-commerce company into a manufacturer and digital media business. In comparison, Billabong, which was worth more than $6 billion five years ago and came close to collapse in 2013, is now worth $510 million.” – The Sydney Morning Herald
“Surfstitch today announced they’d acquired Surf Hardware International (SHI), makers of FCS and other surfing hard goods. The acquisition comes after the online clothing company recently bought STAB, Magic Seaweed, and Garage Entertainment. They paid $23.7 million for SHI which takes the total of recent purchases of $50 million not including share options.” – SwellNet
Things are really going to get interesting this next year if Quiksilver and Billabong do merge into one company – the offices, employees, riders and events!
“…a Quiksilver-Billabong combination was being considered, citing a source close to the matter that it didn’t name.” – Michael Bathon / BloombergBusiness
Dane Reynolds took home first place (tow-at division) at this years 6th annual Still Frothy Surfing Contest By Billabong. The comp was put on by Walter Cerney in Pismo Beach.
LOLS and TROLLS with Billabong team riders by Stab Magazine
To Taj – “It will be funny seeing TB in ten years times as a fat little baldman.” – Big Jim
To Occy – “You won the world title… Wait Kelly wasnt even on tour. So therefore it doesn’t count!” – JOELTURDPILL
We’ll not chime in on this one, but you can read the story at Tracks magazine
“Legal spat over the Pipe Masters makes headlines in Hawaii”
“This contest gets better and bigger every year! Love what Walter Cerny and Crew are doing with the contest and stoking out the local surfing community. What other contest has a Legends heat between Tommy Curren and Sunny Garcia?! Pumped for next year!” – Matt Nguyen
Still Frothy Surf Festival by Billabong – Pismo Beach, California
Billabong International’s chief executive, the American retail specialist Neil Fiske, is working in Australia on a 457 visa. Mr Fiske is the most high-profile – and, at $1 million a year, best paid – worker on the controversial 457 visa covered in a leaked monitoring report by the Fair Work Ombudsman.
The unredacted version of the report, obtained by Fairfax Media, reveals the names of 1800 visa holders and the companies that employ them – or in many cases, the companies that used to employ them. The audit, which involves less than 1 per cent of the 200,000 foreign workers in Australia, raises concerns over 40 per cent of 457 visa holders, including evidence that many are no longer working for their nominated employer or are not being paid at the rate at which they were promised.
The report also raises questions about the widespread use of the visa, which the government insists is available only to employers who “cannot find an Australian citizen or permanent resident to do the skilled work” they require.
