Archive for March, 2009

Active Filing for Bankruptcy

Posted in Knowledge with tags , on March 31, 2009 by akila004

I think that by now, you have heard that Active filed for bankruptcy. Here is part of an article from Shop-Eat-Surf.com

“Active is projected to record a $7.7 million loss for the fiscal year ending March 31. […] Also of note is the list of Active’s 20 largest unsecured creditors, which reads like a Who’s Who of action sports brands. Active owes a total of $8.8 million to its 20 largest unsecured creditors.

activebkchartInterestingly, only one brand is on the list of secured creditors – the Burton Corporation. Secured creditors get payment priority in a bankruptcy.

Financials

According to the bankruptcy filing, Active’s revenues stayed approximately the same over the last few years while the number of stores essentially doubled in that same period.

Annual Revenues

3/31/07: $58.9 million
3/31/08: $61.8 million
3/31/09: $59.9 million (projected)

Annual net income (loss)

3/31/07: $368,356
3/31/08: ($2 million)
3/31/09: ($7.7 million) projected

The filing says, “These losses have been caused primarily by the Debtor’s rapid over-expansion and market saturation, during which time the company’s same store sales were decreasing substantially.” […]

Leases and contracts

The company is moving to reject eight leases for the stores it has already closed in Irvine, San Diego (three), Simi Valley, Westwood, Lake Elsinore and Mission Viejo.

The filing also says it will reject contracts with several skateboarders, including Andrew Reynolds, Kenny Anderson, Billy Marks, Erik Ellington, Daewong Song, Steve Berra, Eric Koston, Michael Capaldi, Braydon Szafranski and Jim Greco.

In addition, Active is rejecting an operating agreement with ESPN for an e-commerce partnership.”

(source: www.shop-eat-surf.com)

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Is MMA an Action Sport?

Posted in Perspective with tags on March 30, 2009 by Artform

Oh man… I don’t even know where to begin with this Whopper of a question recently posed over at TWS Biz. I’ll try to answer the question with a question – “Does it Matter?”

In my opinion, the obvious benefit into allowing MMA access into the wonderful wide world of Action Sports would be Financial. More brands, More pros, More companies, More labels filling up the empty spots at Trade Shows, more internet stores, More opportunities. I’m mean let’s face it, the “Action Sports” hasn’t seen any real changes for awhile. A new team addition or another clothing line just isn’t pushing things forward. As far as anything “Core” is considered, those crazy MMA guys are as “core and extreme” as it gets. I dare you to tell Chuck Lidell he isn’t hardcore (actually, don’t go do that).

Maybe a better perspective is, does the MMA want to be included in the action sports? Is the ASI too soft for MMA? Does it really matter?

TM~

So Cal Action Sports Event Network Wrap-Up

Posted in Event with tags , , , , , on March 27, 2009 by monskeez

Last night I went to the Oakley Headquarters for the So Cal Action Sports Network event. It was my first time visiting the headquarters and let me just say…WOW. Honestly, it really took me back at how massive and impressive the building was. I mean in the end it is Oakley, so what else do you expect. 

The panelists that were speaking included Gretchen Sheckler, Patrick Mcilvain, Steve Jugan, Ryan Okum, Tim Young, & Chad Romiti, which were all very knowledgeable. I found it interesting that they all had different backgrounds, which made it a more diverse group than you typically see at other networking events. All of them discussed different ways that they are operating and marketing their businesses in this economic climate and the challenges they face. 

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Then following the panel discussion came a presentation from guest speaker Chris Brogan.  His main focus was on the evolution and the impact that social media (twitter, facebook, myspace, etc.) has on the world today. He shared with us his insights and showed us some examples of how the web today has changed the way people connect with each other. Chris’s blog ranks 3rd in the top 100 according to techorati. My favorite question of the night came when one of the members of the audience asked him, “How do you go about handling negative comments on your blog when a mistake has been made on your end?” He responded saying that, “The best way to go about that is to be honest and just admit your mistake”. I agree with him and some do say that honesty is the best policy.

-MS

Ah, the Economy…

Posted in Inspirational with tags , , , , , on March 27, 2009 by Artform

Every morning I tune into NPR (via KCRW) to hear about our current economic situation (notice how I didn’t say crisis, oops). I have to admit that this has become a morbid ritual, because I know exactly what I am going to hear. This company has X amount of layoffs, this area has seen a continual fall in housing prices or the story of that one family that lost everything…

So today, I’m over it (that doesn’t mean I won’t be tuning in on Monday morning though). What do I mean by “over it” you ask? I am not going to let the bad news seep into my daily duties of changing my world. Instead of waiting for the stimulus to change things or wait for jobs to start popping up again, I am going to carry the torch and do as much as I can at all times to make things better for myself and those around me. I’ll source new opportunities, I’ll be bold and take the first step into the great unknown, I’ll bring something to the table. I will squeeze the creative juices daily and I’ll be the best Me, because in the process positive will overcome the negative. I truly believe that if we all take a stand against the negative news, and find new ways of doing business, news ways of investing, new ways to save, news ways to create new jobs, that we will move past this crisis to new stronger and better future.

So embrace your potential, and say farewell to the past. It was Dolly Pardon who said it breast, sorry i meant best… “If you want the Rainbow, your have to part with the Rain”.

TM~

Gatorade steps in a little more…

Posted in Knowledge with tags , , , on March 26, 2009 by akila004

You might remember a couple months ago that Gatorade finally stepped into the action sports scene by endorsing young talents Chaz Ortiz (Skateboarding), Ellery Hollingsworth (snowboarding) and Nigel Sylvester (BMX).

Well they are now taking it one step further by becoming the Title sponsor of the BMX Free Flow Tour.

It seems like Gatorade is going to follow somehow the Nike 6.0 marketing route: All about the up and coming talents and young riders. Read what Free Flow Tour’s Lauren Bogema has to say:

The Gatorade Free Flow Tour (GFFT) is for amateurs only, and we pride ourselves on finding the next up-and-coming action sports stars. Because the overall winners on the Gatorade Free Flow Tour win the chance to compete against the pros on the Dew Tour at the end of the season, we can showcase the talent that is out there waiting to be discovered… This is the fifth year that the Free Flow Tour has been the official amateur series of the Dew Tour, and there are a lot of past FFT winners that are currently competing on the Dew Tour after going pro. Our biggest success stories are Mike Spinner (who won the FFT BMX park title in 2006 and has finished in second place in the Dew Tour’s points standings the past two years) and Chaz Ortiz (who was our Free Flow Tour skate park winner in 2007 and won the Dew Cup last year as a 14 year old).”

~CG

Vans and POW team up

Posted in Knowledge, Perspective with tags , , , , on March 26, 2009 by akila004

This is Awesome! It’s the type of partnership I wish to see more often. And it makes total sense. VansPOW

Vans is an amazing brand that has always been there for the riders and the industry at large. And for them to get involved with Jeremy Jones’ organization Protect Our Winters is another step to showing their commitment to what the industry truly cares about.

Here is the press release:

Cypress, CA (March 23, 2009) — Climate change is a major threat to our planet and to the future of snowboarding. In an effort to promote awareness of the issue, Vans has partnered with Protect Our Winters (POW), an organization dedicated to helping reverse the global warming crisis threatening winter sports, on a special snowboard boot project for the 2009-10 snow season.
Partnering with POW, Vans re-constructed it’s top of the line men’s Cirro and women’s Veil snowboard boots with eco-friendly materials including 100% recycled PET textile, 50% recycled PET synthetic and non-toxic water-based solvents. The boots also feature Vans’ custom designed BOA” focus system, offering riders unprecedented tech and performance in an exceptional, eco-friendly package.
“We’re proud to be such an integral part of this project with Vans – they’ve really taken it to the next level by looking internally and taking the necessary steps to fight climate change by changing their design and manufacturing processes,” said POW’s Founder Jeremy Jones. “It’s exciting and we hope it influences the rest of the industry”.

Available in early fall 2009, the Vans x POW snowboard boots will be sold at board shops worldwide.
A portion of proceeds from the collaboration will go to POW, helping to fund programs and educate the consumer toward achieving one goal we all share — protecting our winters.

I’m Available Everywhere!

Posted in Thoughts from our great interns with tags , , on March 25, 2009 by akila004

I was thinking this to myself last night as I was working on a project. And by working on a project I mean conducting a phone interview via speakerphone so I could type out the responses, then chatting it up with a friend on my Blackberry Messenger about the same project, texting my friend about her schedule for the following day, and utilizing Google Chat for the first time. Keep in mind that my Gmail inbox was open, you know, just in case I couldn’t be reached on my phone alone.

It’s amazing how technology allows us to be everywhere and available at any given moment. I mean, there are cell phone plans where we can even keep track of our friends when they sleep! It’s pretty intense (and scary).

Oh, hang on. My phone’s buzzing. Must be a call. Or a text. Or a BBM. Or an e-mail. Nevermind. It was my mom. I wonder what’s for dinner?

-CG