On July 30, TransWorld Business sat down with Quiksilver CEO Bob McKnight for an exclusive interview on the state of the company, the future of the action sports industry, and the challenges of the current economic climate. In this first installment, McKnight outlines Quiksilver’s banking arrangements in the US and Europe, how buying Rossignol affected its European credit facilities, and what the company’s most recent financial announcement means to the bottom line.
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Skullkcandy’s sales have skyrocketed from 1.3-million dollars in 2005, to being on track to surpass the 100-million dollar mark this year.
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March’s unemployment numbers continued to stagger the imagination. As the nation’s unemployment rate hit the 8.5 percent mark, businesses with under 500 employees posted losses of 614,000 jobs. Even closer to home is the fact that 284,000 jobs were cut by companies with 50 staffers or less, while companies with over 500 employees trimmed a still significant 128,000.
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While disheartening business news keeps rolling in on a daily basis, there seems to be a feeling of hope on the rise in the news and economic indicators. We’d like to get your thoughts on where your business is at. Is there a light at the end of the tunnel?
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President Obama voiced his determination yesterday to help ease the financial struggles of small businesses impacted by the recession.
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In its most recent newsletter, SIA has an interesting article on economic indicators to follow that can help determine when the economy starts to heal its wounds:
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The San Diego Union-Tribune ran an article with some scary prospects for the action sports industry including estimates that as many as 30 percent of action sports retailers could go extinct in 2009.
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I can’t stand it anymore, so be warned. The next person who says to me, “We’re watching our inventory carefully” or “We’re working hard to keep our existing customers” or “We’re being really selective about our advertising and promotional expenses,” or “We’re cutting brands that haven’t sold well,” is going to get dumped on. They won’t really deserve it- they’ll just be in the wrong place at the wrong time.
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Stocks were rising slowly and cautiously Monday, Nov. 3, as the Presidential Election loomed and October’s weak reading in the manufacturing sector, the Associated Press reported earlier this morning on several major news sites.
Headlines for Monday, November 3rd:
How The Economy Stole the Election
Factory Activity Slid in October
Economists See Recession Through 2009
The Debt Trap: A Series about the Surge in Consumer Debt and the Lenders Who Made it Possible
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