Entries by jeff

Kathmandu Buys Rip Curl: Analysis and Questions

I admit it.  Before this deal, I’d never head of Kathmandu, a public company headquartered in New Zealand.  If you haven’t either, you can visit their consumer facing web site or their investors web site where you can pour over all the deal related documents I’ve looked at.  Mostly, though, I think you’re happy to […]

An Inevitable Deal: SPY Purchased by Bolle

I never learned why SPY went public in the first place all those years ago.  I imagine it was because a group of people who may not quite have understood the industry saw potential fast growth and a chance to make a lot of money.  Those were different times.  I have some experience with that […]

Globe Sells Dwindle and Files Its Annual Report

Globe filed its annual report for the year ended June 30, 2019 pretty much concurrently with the announcement that it had sold Dwindle to Highline Industries Corporation.  Skatewire reported that the purchase price was $1.5 million, but what the annual report says is that the carrying value of the assets was $1.5 million.  I haven’t […]

And Now for Something Completely Different; Some Recommended Reading with Perspective on U.S. Economic and Financial Conditions

In 5,000 years of recorded history, there isn’t another known instance of negative interest rates.  Now we’ve got about $13 trillion of securities with negative interest rates around the world.  So far, that hasn’t happened in the United States, but don’t assume it won’t when we finally get a recession. Money is a commodity.  It […]

How VF Keeps Doing It: Size, Flexibility, Diversification, Disciplined Management Processes, Balance Sheet

VF’s secret sauce isn’t secret.  It’s just hard to do.  Executing the strategy takes leadership, a quality team, organizational consensus, and a certain level of confidence and perhaps willingness to fail to take advantage of uncertain times. You’ve probably realized that every company needs those things.  So let’s take a deep dive into how VF […]