Without wanting to detract from what Merchant achieved , Billabong is now chaired by EX Fosters CEO Ted Kunkel and run by a lady who used to head up Target.
I reckon its fate was neatly summed up by one retailer who noted "once a kid sees his father wearing a youth brand , the game is pretty well over"......

theDoctor said...



whose billabong?

That would probably be the Jolly Swagman's billabong Doc.

Now "who's Billabong?" They're a surf clothing company whose founder faked his wife's and brother's signature on some bank loan documents that secured him millions of dollars of which the bank could not recover on his default. Which Bank? Yeah that one.

sausage said...

theDoctor said...



whose billabong?

That would probably be the Jolly Swagman's billabong Doc.

Now "who's Billabong?" They're a surf clothing company whose founder faked his wife's and brother's signature on some bank loan documents that secured him millions of dollars of which the bank could not recover on his default. Which Bank? Yeah that one.

Nope. wrong, more inaccuracies ... This thread is a shambles .

Matthew Perren was an investor, had nothing to do with founding billabong. He helped them float on the share market and had a place on the board and ended up CEo, nothing he did with his personal finances ever had anything to do with da bong besides having to sell stock to meet his obligations, nothing illegal there, the bloke went bankrupt through nothing to do with billabong. He never did anything illegal associated with billabong.


www.smartcompany.com.au//Search/?keyword=Matthew+Perrin?keyword=Matthew+Perrin


And the largest shareholder of the bong beside Gordon is CBA through their investment fund colonial First state share fund.. So I think there ok with them..

Apologies for referring Perrin as one of the founders. Perrin was the CEO. Slap on the wrist for not actually researching and just going off memory of very old news.

Why not make it really Australian ...Simply the solution to billabong is bring another dozen 457 visa workers in In-fact send them by the boat load .We could start a sweatshop rite here in our own backyard.

Knock offs as in a wristy Mac?
Thats what im talkin about!

^^^^^^^I'm sure he is aware of that baba. Perhaps he decided he didn't want to drop down to the level of this misinformed bullsh1t thread.

Hot off the press.

TPG is back with another takeover offer.

Last one was at $3.30 or thereabouts.

This mornings offer is at $1.45, share price is $1.10. This will be interesting.....

No ones would say profit is bad or that any one wishes billabong to be gone!
My issue with the company would be in there work practices:
Reps and (ass lick) middle management and there push for rack space with dodgy" order X% more or you cant have any of our brands" while they buy or build another one of there chain stores opposite the retailer. Or even better; surf hardware company wont sell their brand to BB, "well teach you a lesson" well just sell our product at little over cost price to drive you out of the market place.
my particular favorite story is promoting in house sales " what no formal qualification or experience, but you dress snazzy - why dont you become a designer""
Everyones a genius in the company when there product/trend is walking out the door. But when harsh reality sets in, no ones necking down tequila at 10 in the morning celebrating there wisdom.

Going public just so the ex missus can buy a golf course, sort of sets the tone for a **** fight.
I feel sorry for the landscapers at gordens places. No more tearing out and replanting the trees!!!!

joeyjojo said...

No ones would say profit is bad or that any one wishes billabong to be gone!
My issue with the company would be in there work practices:
Reps and (ass lick) middle management and there push for rack space with dodgy" order X% more or you cant have any of our brands" while they buy or build another one of there chain stores opposite the retailer. Or even better; surf hardware company wont sell their brand to BB, "well teach you a lesson" well just sell our product at little over cost price to drive you out of the market place.
my particular favorite story is promoting in house sales " what no formal qualification or experience, but you dress snazzy - why dont you become a designer""
Everyones a genius in the company when there product/trend is walking out the door. But when harsh reality sets in, no ones necking down tequila at 10 in the morning celebrating there wisdom.

Going public just so the ex missus can buy a golf course, sort of sets the tone for a **** fight.
I feel sorry for the landscapers at gordens places. No more tearing out and replanting the trees!!!!

So who bought in at the bottom and cashed in this arvo? Given the borked at the $3-ish offer from TPG in Feb who thinks they would actually fold at $1.45?

It's fairly interesting if you look at who's been buying selling big chunks of the stock recently. Merchant increased his share significantly at the beginning of the month, so did CBA...to be fair their share price had just fallen off the cliff at the time.

Market is so schizophrenic at the moment.

CJW said...

So who bought in at the bottom and cashed in this arvo? Given the borked at the $3-ish offer from TPG in Feb who thinks they would actually fold at $1.45?

It's fairly interesting if you look at who's been buying selling big chunks of the stock recently. Merchant increased his share significantly at the beginning of the month, so did CBA...to be fair their share price had just fallen off the cliff at the time.

Market is so schizophrenic at the moment.

I think you will find that the reason that the share dropped so much was that they issued a truckload more stock to raise capital to pay off debts - the original $3.30 offer price must be adjusted for the almost doubling of the shares on issue during a $225 million capital raising earlier this month, which puts the per-share value at closer to $2 a share.

So effectively it was valued at 850m by the first TPG offer....the second offer has it at $695m.

www.google.com/search?q=ASX:BBG&tbm=fin&gws_rd=ssl

shares up 19.5% today....
check the volume of shares being sold

busterwa said...

spot the difference?

And dont tell me that they make better quality>?????

Nup!! They all look like they're made in "Boganville".

Will the real Slim Shady please stand up?