Twenty-two-year-old Surfer Erica Hosseini recently signed a deal to become the new face fro Flip Flop Shops, a retail chain that exclusively sells sandals from brands such as Reef, Sanuk and O’Neill.
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October 30 2009 |
81 views
CIT Group Inc. announced Thursday, Oct. 29, that it has secured $4.5 billion in additional financing from lenders, according to an article posted on Yahoo.com:
“CIT is trying to restructure its debt before another $800 million of obligations come due at the beginning of November. The lender to about a million small and mid-sized businesses is looking at either filing for bankruptcy, or getting its current lenders to agree to new terms on their debt.
The new facility matures in 2012, and is backed by an estimated $30 billion of assets, which are also supporting a $3 billion loan the company received over the summer.
The $4.5 billion financing is a setback for activist investor Carl Icahn, who also had been trying to lend to the company.
CIT said the proceeds will be used to refinance some of the company’s existing secured debt, which it may have to pay off as it restructures debt. The loan will allow the company to continue serving the small and medium sized companies it lends to, the company said.
The 101-year-old company is trying to restructure its liabilities by getting investors to forgive at least $5.7 billion of debt and exchange their securities for new notes before October 29. Investors held about $30 billion in unsecured debt at the end of June, and the company had about $70 billion of assets at the time.”
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October 30 2009 |
160 views | 2 comments
Industry terrain park veteran, Nicholas Roma, has been named to the position of Terrain Park Manager for the Steamboat Ski & Resort Corporation.
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October 30 2009 |
163 views | 1 comment
Bear Mountain and Snow Summit will open Friday in Big Bear Lakes, California, and Tahoe’s Mt. Rose will run its first lift Saturday, October 31 - each with early season lift ticket pricing.
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October 29 2009 |
143 views
Charmcity’s Jason Chapman shares what’s been selling at his Baltimore, Maryland-based shop.
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October 29 2009 |
522 views
The wintersports trade show Slide, created and held by Snowsport Industries of Great Britain, announced that it will hold the show nearly two weeks earlier than last year, from January 27-29.
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October 28 2009 |
6 views
O’Quinn Clothing has just signed pro skater and accomplished surfer Tosh Townend to the team.
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October 28 2009 |
331 views
A transcript of VF Corp’s Q3 conference call reveals positive numbers for several of the company’s brands, including Vans.
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October 28 2009 |
126 views
The Iconix Brand Group, parent company to Op and Mossimo, announced plans to purchase 51 percent of Marc Ecko’s clothing company, parent of the brand Zoo York, for $63.5 million.
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October 27 2009 |
262 views | 1 comment
Boardworks Surf announced today that Ryan Mahoney will fill the position of Southern/Central California Sales Rep.
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October 27 2009 |
115 views
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