6 Burst results for "Odyssey International"

"odyssey international" Discussed on CNBC's Fast Money

CNBC's Fast Money

07:41 min | 3 months ago

"odyssey international" Discussed on CNBC's Fast Money

"Zombie apocalypse on wall street. Hundreds of big name companies wants american icons are now among the walking dead names like boeing carnival delta exxon macy's. They aren't making enough money to pay the interest. On the mountains of debt they feasted on during the pandemic. Nearly two hundred companies have joined the zombie ranked since march and their numbers are growing total debt obligations now nearly one point four trillion dollars. So is there any hope for the walking dead here guy. I mean what's interesting. Is that a lot of these names. They are names that we talk about trading on this show. So how should we start thinking about this before we get in the walking dead. I just want to point out. That's a great job by our crack. staff leading. With of course the cranberries zombie which is a bit of an obvious choice in the great delors. Oh reared who lost too soon. She was obviously the founder of the band wonderful vocalist. I might have gone a different direction. And maybe we could've played something like this for example. Melissa leo the crack staff is listening into the show. Why the zombies. No it's important to point out the folks at home. It's more important than actually trading our first topic in what is known as the block of the. It's not it's not more important. And i and we'll talk about the black and we'll talk about zombie companies because i think it's important and last night we mentioned macy's and you talked about one hundred dollars table. Then tim said might be the thousand dollar table. And i think collectively. We thought there was a real good chance that with test that nine fifty five level which was the june high and i think it got up to nine twenty five today on two or three times normal volume. Now's the time to be taking profits. A lotta shorts have been squeezed other companies that you mentioned delta for example. I think that's a completely different ballgame. But what i will say. This counterintuitive is. This may seem if the economy starts to get better. You would think this is good for these companies but that means interest rates economic higher. And that's going to cripple some of these companies. We talked about it last night. And i'm sure one of our guests coming out. We'll talk about that again. Tim how do you start thinking about macy's and that debt that they apparently can't service. I mean when i think about dombi i think about that thriller video and i know guys got that red leather jacket with all the zippers on it. So just just to be clear. I think when i think about those companies you just mentioned they're all they're all different in terms of their <hes>. Potential to be proper zombies a great band by the way. But i think you know boeing not assam company <hes>. You know it's not <hes>. Boeing is a company that has the ability to raise debt. But more importantly yes. Boeing's business has been totally disrupted boeing. His burned through so much cast in the last year. And it will burn through some castro most of twenty-one but it will be free cash flow positive by twenty two in probably be neutral by the fourth quarter so calling them assam company. I think is absurd. Calling macy's zombie company is something that's at least a fair analysis although again macy's showed that free cash flow with something that they expect they're going to have in twenty twenty one two and a company that raised a lot of money <hes>. To to at least be able to fight another day including having a three billion dollar asset back facility is something you don't do cartwheels over macy's position right now but the recovery there and i'm long so i've made this clear. I actually think there's more of a recovery story even though i don't think macy's gets better overnight. Delta relative to other airlines is not even close to his ambi- story dealt is actually going to start to make money towards the fourth quarter of next year and we're not talking about a normalized business. We're talking about a business where odyssey international comes under a lot of pressure. So i also just think that the fed and the role that the fed is playing here and the role that the fed will play just through talking <hes>. About the bazooka in their pocket means a lot of these debt markets. Don't have a whole lot of an impact in the next six months <hes>. To what people think they're gonna do. I really don't expect it so it doesn't matter that these companies zombie companies it doesn't matter that delta added twenty four billion dollars in debt since the pandemic started by baldwin. At what point do we start getting worried about that. Debt load and these companies guy made the point that if the economy gets better you would think that that'd be better for these companies that can make more money they can etc said sell more whatever they make but then interest rates go higher. So how do you weigh that. Yeah those are all interesting. Factors that keep into <hes>. To keep in the front of your mind. And tim did a good job of laying out the differences of these companies. But speaking to your question right the commonality of all these of these companies that they have as you have looted to have added significant portions of the balance sheet this year and they're burning through cash at a rate and their revenues are down at rates that we just haven't seen we're talking about you know seven and a half billion dollars of cash burn and eighteen billion dollars of casper burn boeing's example seven and a half carnivals example. So you have this push pushing pull situation. What i will say is that you've seen across the board. All these companies put one thing. I right and that is runway. And so they've taken on this debts that they have enough cash to get them to their next stop in order for them to continue to be able to operate what we've seen is them trying to achieve operating leverage by reducing staff count. And that is what. I think the topic that we're kind of trying to speak to. Here's when you start slashing human capital when you stop investing in capital expenditures when you stop innovating that is what leads you to being somewhat of a dead zombie company even after you've getting on the other side of this debt service coverage ratio also something to keep in mind. You can't meet your interest. Can't meet your debt service coverage ratio. You got serious problems dan. Yeah i think bond would makes a great point there and just look at our auto industry over the last ten years and obviously gm came out of bankruptcy ten years and wiped out a lot of that debt but they had a huge government interests that was really carried along and probably hurt them a lot of different ways as far as innovation and the way the bhawan just described it. It's clearly hurt for a lot of ways and look at the auto companies are doing really well right now so i think that's a great point. The other point on this make about this is that this is the world that we live in. It's the world that a lot of parts of our planet have been looking at japan over the last thirty years or whatever and then we are going to be saddled with debt whether it's consumers whether it's sovereign balance-sheets whatever the heck it is corporates. That's just the way it is. And that's why interest rates are really never gonna meaningfully. Go up again. Because we can't service all the debt and just make one other point if you think about twenty twenty and what's happened here. Obviously the fed has done their job. They hit this crisis early to make sure that we did not have large-scale bankruptcies right of some major corporations which would really snowball the unemployment situation here but let me just tell you this here. We are now four months out from expanded unemployment benefits. Were heading into the holiday season. We're in a very rocky transition and a lame duck. Congress and there is no more fiscal stimulus for small businesses and consumers. That need it really bad. So the fact that we have a trillion dollars for a bunch of companies that were buying eighty five percent using their free cash flow to eighty five percent of their free cash flow to buy back their stock over the last five years. The airlines and we can't bail out restaurants so we can't bail out consumers that is really troubling to me. Yeah we're really tough spot right now in terms of that bridge to the other side waiting for that other side for the vaccines actually be distributed and as well as injected into the arms of americans

fed Mark europe us exxon mobil ceo cio Dan Marco mr malone macy morgan creek Melissa ecb zimbabwe Tim david faber renminbi china
America’s Zombie Companies Have Racked Up $1.4 Trillion of Debt

CNBC's Fast Money

07:41 min | 3 months ago

America’s Zombie Companies Have Racked Up $1.4 Trillion of Debt

"Zombie apocalypse on wall street. Hundreds of big name companies wants american icons are now among the walking dead names like boeing carnival delta exxon macy's. They aren't making enough money to pay the interest. On the mountains of debt they feasted on during the pandemic. Nearly two hundred companies have joined the zombie ranked since march and their numbers are growing total debt obligations now nearly one point four trillion dollars. So is there any hope for the walking dead here guy. I mean what's interesting. Is that a lot of these names. They are names that we talk about trading on this show. So how should we start thinking about this before we get in the walking dead. I just want to point out. That's a great job by our crack. staff leading. With of course the cranberries zombie which is a bit of an obvious choice in the great delors. Oh reared who lost too soon. She was obviously the founder of the band wonderful vocalist. I might have gone a different direction. And maybe we could've played something like this for example. Melissa leo the crack staff is listening into the show. Why the zombies. No it's important to point out the folks at home. It's more important than actually trading our first topic in what is known as the block of the. It's not it's not more important. And i and we'll talk about the black and we'll talk about zombie companies because i think it's important and last night we mentioned macy's and you talked about one hundred dollars table. Then tim said might be the thousand dollar table. And i think collectively. We thought there was a real good chance that with test that nine fifty five level which was the june high and i think it got up to nine twenty five today on two or three times normal volume. Now's the time to be taking profits. A lotta shorts have been squeezed other companies that you mentioned delta for example. I think that's a completely different ballgame. But what i will say. This counterintuitive is. This may seem if the economy starts to get better. You would think this is good for these companies but that means interest rates economic higher. And that's going to cripple some of these companies. We talked about it last night. And i'm sure one of our guests coming out. We'll talk about that again. Tim how do you start thinking about macy's and that debt that they apparently can't service. I mean when i think about dombi i think about that thriller video and i know guys got that red leather jacket with all the zippers on it. So just just to be clear. I think when i think about those companies you just mentioned they're all they're all different in terms of their Potential to be proper zombies a great band by the way. But i think you know boeing not assam company You know it's not Boeing is a company that has the ability to raise debt. But more importantly yes. Boeing's business has been totally disrupted boeing. His burned through so much cast in the last year. And it will burn through some castro most of twenty-one but it will be free cash flow positive by twenty two in probably be neutral by the fourth quarter so calling them assam company. I think is absurd. Calling macy's zombie company is something that's at least a fair analysis although again macy's showed that free cash flow with something that they expect they're going to have in twenty twenty one two and a company that raised a lot of money To to at least be able to fight another day including having a three billion dollar asset back facility is something you don't do cartwheels over macy's position right now but the recovery there and i'm long so i've made this clear. I actually think there's more of a recovery story even though i don't think macy's gets better overnight. Delta relative to other airlines is not even close to his ambi- story dealt is actually going to start to make money towards the fourth quarter of next year and we're not talking about a normalized business. We're talking about a business where odyssey international comes under a lot of pressure. So i also just think that the fed and the role that the fed is playing here and the role that the fed will play just through talking About the bazooka in their pocket means a lot of these debt markets. Don't have a whole lot of an impact in the next six months To what people think they're gonna do. I really don't expect it so it doesn't matter that these companies zombie companies it doesn't matter that delta added twenty four billion dollars in debt since the pandemic started by baldwin. At what point do we start getting worried about that. Debt load and these companies guy made the point that if the economy gets better you would think that that'd be better for these companies that can make more money they can etc said sell more whatever they make but then interest rates go higher. So how do you weigh that. Yeah those are all interesting. Factors that keep into To keep in the front of your mind. And tim did a good job of laying out the differences of these companies. But speaking to your question right the commonality of all these of these companies that they have as you have looted to have added significant portions of the balance sheet this year and they're burning through cash at a rate and their revenues are down at rates that we just haven't seen we're talking about you know seven and a half billion dollars of cash burn and eighteen billion dollars of casper burn boeing's example seven and a half carnivals example. So you have this push pushing pull situation. What i will say is that you've seen across the board. All these companies put one thing. I right and that is runway. And so they've taken on this debts that they have enough cash to get them to their next stop in order for them to continue to be able to operate what we've seen is them trying to achieve operating leverage by reducing staff count. And that is what. I think the topic that we're kind of trying to speak to. Here's when you start slashing human capital when you stop investing in capital expenditures when you stop innovating that is what leads you to being somewhat of a dead zombie company even after you've getting on the other side of this debt service coverage ratio also something to keep in mind. You can't meet your interest. Can't meet your debt service coverage ratio. You got serious problems dan. Yeah i think bond would makes a great point there and just look at our auto industry over the last ten years and obviously gm came out of bankruptcy ten years and wiped out a lot of that debt but they had a huge government interests that was really carried along and probably hurt them a lot of different ways as far as innovation and the way the bhawan just described it. It's clearly hurt for a lot of ways and look at the auto companies are doing really well right now so i think that's a great point. The other point on this make about this is that this is the world that we live in. It's the world that a lot of parts of our planet have been looking at japan over the last thirty years or whatever and then we are going to be saddled with debt whether it's consumers whether it's sovereign balance-sheets whatever the heck it is corporates. That's just the way it is. And that's why interest rates are really never gonna meaningfully. Go up again. Because we can't service all the debt and just make one other point if you think about twenty twenty and what's happened here. Obviously the fed has done their job. They hit this crisis early to make sure that we did not have large-scale bankruptcies right of some major corporations which would really snowball the unemployment situation here but let me just tell you this here. We are now four months out from expanded unemployment benefits. Were heading into the holiday season. We're in a very rocky transition and a lame duck. Congress and there is no more fiscal stimulus for small businesses and consumers. That need it really bad. So the fact that we have a trillion dollars for a bunch of companies that were buying eighty five percent using their free cash flow to eighty five percent of their free cash flow to buy back their stock over the last five years. The airlines and we can't bail out restaurants so we can't bail out consumers that is really troubling to me. Yeah we're really tough spot right now in terms of that bridge to the other side waiting for that other side for the vaccines actually be distributed and as well as injected into the arms of americans

Macy Boeing Carnival Delta Exxon FED Melissa Leo Odyssey International TIM Castro Delta Baldwin
"odyssey international" Discussed on CNBC's Fast Money

CNBC's Fast Money

06:01 min | 3 months ago

"odyssey international" Discussed on CNBC's Fast Money

"It's not more important. And i and we'll talk about the black and we'll talk about zombie companies because i think it's important and last night we mentioned macy's and you talked about one hundred dollars table. Then tim said might be the thousand dollar table. And i think collectively. We thought there was a real good chance that with test that nine fifty five level which was the june high and i think it got up to nine twenty five today on two or three times normal volume. Now's the time to be taking profits. A lotta shorts have been squeezed other companies that you mentioned delta for example. I think that's a completely different ballgame. But what i will say. This counterintuitive is. This may seem if the economy starts to get better. You would think this is good for these companies but that means interest rates economic higher. And that's going to cripple some of these companies. We talked about it last night. And i'm sure one of our guests coming out. We'll talk about that again. Tim how do you start thinking about macy's and that debt that they apparently can't service. I mean when i think about dombi i think about that thriller video and i know guys got that red leather jacket with all the zippers on it. So just just to be clear. I think when i think about those companies you just mentioned they're all they're all different in terms of their Potential to be proper zombies a great band by the way. But i think you know boeing not assam company You know it's not Boeing is a company that has the ability to raise debt. But more importantly yes. Boeing's business has been totally disrupted boeing. His burned through so much cast in the last year. And it will burn through some castro most of twenty-one but it will be free cash flow positive by twenty two in probably be neutral by the fourth quarter so calling them assam company. I think is absurd. Calling macy's zombie company is something that's at least a fair analysis although again macy's showed that free cash flow with something that they expect they're going to have in twenty twenty one two and a company that raised a lot of money To to at least be able to fight another day including having a three billion dollar asset back facility is something you don't do cartwheels over macy's position right now but the recovery there and i'm long so i've made this clear. I actually think there's more of a recovery story even though i don't think macy's gets better overnight. Delta relative to other airlines is not even close to his ambi- story dealt is actually going to start to make money towards the fourth quarter of next year and we're not talking about a normalized business. We're talking about a business where odyssey international comes under a lot of pressure. So i also just think that the fed and the role that the fed is playing here and the role that the fed will play just through talking About the bazooka in their pocket means a lot of these debt markets. Don't have a whole lot of an impact in the next six months To what people think they're gonna do. I really don't expect it so it doesn't matter that these companies zombie companies it doesn't matter that delta added twenty four billion dollars in debt since the pandemic started by baldwin. At what point do we start getting worried about that. Debt load and these companies guy made the point that if the economy gets better you would think that that'd be better for these companies that can make more money they can etc said sell more whatever they make but then interest rates go higher. So how do you weigh that. Yeah those are all interesting. Factors that keep into To keep in the front of your mind. And tim did a good job of laying out the differences of these companies. But speaking to your question right the commonality of all these of these companies that they have as you have looted to have added significant portions of the balance sheet this year and they're burning through cash at a rate and their revenues are down at rates that we just haven't seen we're talking about you know seven and a half billion dollars of cash burn and eighteen billion dollars of casper burn boeing's example seven and a half carnivals example. So you have this push pushing pull situation. What i will say is that you've seen across the board. All these companies put one thing. I right and that is runway. And so they've taken on this debts that they have enough cash to get them to their next stop in order for them to continue to be able to operate what we've seen is them trying to achieve operating leverage by reducing staff count. And that is what. I think the topic that we're kind of trying to speak to. Here's when you start slashing human capital when you stop investing in capital expenditures when you stop innovating that is what leads you to being somewhat of a dead zombie company even after you've getting on the other side of this debt service coverage ratio also something to keep in mind. You can't meet your interest. Can't meet your debt service coverage ratio. You got serious problems dan. Yeah i think bond would makes a great point there and just look at our auto industry over the last ten years and obviously gm came out of bankruptcy ten years and wiped out a lot of that debt but they had a huge government interests that was really carried along and probably hurt them a lot of different ways as far as innovation and the way the bhawan just described it. It's clearly hurt for a lot of ways and look at the auto companies are doing really well right now so i think that's a great point. The other point on this make about this is that this is the world that we live in. It's the world that a lot of parts of our planet have been looking at japan over the last thirty years or whatever and then we are going to be saddled with debt whether it's consumers whether it's sovereign balance-sheets whatever the heck it is corporates. That's just the way it is. And that's why interest rates are really never gonna meaningfully. Go up again. Because we can't service all the debt and just make one other point if you think about twenty twenty and what's happened here. Obviously the fed has done their job. They hit this crisis early to make sure that we did not have large-scale bankruptcies right of some major corporations which would really snowball the unemployment situation here but let me just tell you this here. We are now four months out from expanded unemployment benefits. Were heading into the holiday season. We're in a very rocky transition and a lame duck. Congress and there is no more fiscal stimulus for small businesses and consumers. That need it really bad. So the fact that we have a trillion dollars for a bunch of companies that were buying eighty five percent using their free cash flow to eighty five percent of their free cash flow to buy back their stock over the last five years..

macy Boeing fed tim delta assam odyssey international japan castro Congress casper gm bond twenty twenty
"odyssey international" Discussed on Business Wars

Business Wars

04:48 min | 11 months ago

"odyssey international" Discussed on Business Wars

"It's January night in nineteen ninety. Two and Scott Schmidt is driving through midtown Manhattan. The extreme skiers feeling good last fall north face introduced his steep deck extreme skiwear and sales are surpassing all expectations steep tags already become one of the company's best selling lines the north face chalks up that success to Schmidt's fame but that's not the only reason Schmidt stops at a red light and peers around the darkened streets. He's in a high crime. Area of the city. Windows are broken and the walls covered in graffiti but then Schmidt spots something unusual. He cranes his neck for a better look and his jaw drops. No way across the street. A drug dealers working the corner and he's dressed head to toe in steep tech as Schmidt drives past the dealer. He thinks that guy's got to be a one off but he's not across the city. Graffiti artists in corner. Drug dealers are turning the north faces mountain gear industry where they like the deep pockets which are perfect for carrying spray cans and product. They appreciate how the company's Bulky Parkas make them look big but most of all they love how the north faces apparel keeps them warm even on the coldest nights and this trends just getting started it's August nineteen ninety-three and the Wu Tang clan's new track method. Man is taking the hip hop scene by storm. The clan now MTV stars and in the video as they wrap in a derelict building to their entourage pose in red and yellow steep tech jackets that video ushers in love in between hip hop and the north face soon rappers from. Ll Cool J. TO BIG L. We'll be wearing north face and the notorious B I g and DOS effects will be named checking the brand of their lyrics with no planning at all. The North face is crossing over from the slopes and into the inner cities and where these rap stars lead suburban. America will follow but the brand new street crowd is come too late to shore up its bottom line. Since nineteen eighty eight north face. Owner Odyssey international has been assembling an outdoor empire. It's not just the north face but many of its rivals to yet just as evonne. Hsu Nar warned Patagonia staff around the campfire companies. That try to have it all only die faster. Odyssey is now in bankruptcy tripped up by. It's rush to expand with creditors baying for their money. Odyssey finds itself having to dismantle? Its outdoor empire. It sells off brands like Marmot in Sierra designs. Then it puts the north face on a corporate crash diet to get it ready for auction. Odyssey shuts twelve of north faces. Twenty outlet stores there. Berkeley factory also gets the job. Now just like Patagonia. The North face will make its gear on the other side of the Pacific and now that the bloodlettings done odyssey puts the north face up for sale. Its May nineteen ninety-four an Oakland courtroom. The North face auction is underway. Bids opened at thirty three million dollars but the price soon past fifty million now just two bidders remain one is deckers accompanied make sandals the other is a consortium led by two members of the North face executive team deckers representative ups the stakes fifty five point nine million the North Basic -secutive huddled briefly fifty seven million. The woman from deckers holds up her hands in defeat. But then one of the earlier bidders rejoins the race raincoat manufacturer London. Fog Fifty seven point. One million. The North face team winces. But there's no way they're walking away over one hundred thousand dollars. Fifty nine million. The judge looks at the man from London. Fog and slowly raises his gavel. Going once going twice and so north face executives have one and now they get to enact their master plan and that plan is to take the north face onto the stock exchange and use. The money raised to turbo charge. Its growth..

the north face Scott Schmidt Odyssey international Manhattan Wu Tang Hsu Nar Berkeley America London Marmot MTV Oakland Pacific executive representative
"odyssey international" Discussed on Business Wars

Business Wars

06:16 min | 11 months ago

"odyssey international" Discussed on Business Wars

"On the last episode Patagonia struck gold with colorful synthetic close at one over. Hikers and fashion east is alike but while Patagonia boom the north face battle to grow in a flat market flooded with cheaper Asian imports. Now the north face is trying to put the challenges of the eighties behind him with the help of its new owner. Odyssey international and Odyssey's founder. Bill Simon isn't looking for steady progress. No he wants to scramble to the Summit. This is episode four then and the art of business. It's nineteen ninety and in Berkeley California. Simon is in the North Face Conference Room listening to a pitch from an unlikely business. Man that man is Scot Schmidt and he's anything but slick. His shirts untucked his dirty blond. Mullets uncombed and its crown with a tired looking baseball cap but in ski circles Schmidt is a legend. He's an extreme skier. No scratch that. He's the world's best extreme skier. A man who wows powder hounds with daring descents down sheer slopes where even the most minor error can be fatal but a claim doesn't pay the bills so now Schmidt is hoping to cash in on his daredevil reputation with a little help from the north face he stands awkwardly before Simon and lays out his vision north based years. Awesome but it still falls. Short for skiers like me. I'm always having to make my own adjustments like sewing on extra pockets or padding. What extreme skiers need is geared designed for them like this Schmidt? Hand Simon A hand-drawn illustration of bright yellow and black ski jacket? The drawings covered in notes about the jackets features impact protecting body armor multiple zippers for ventilation tougher. Fabric at friction points to reduce where there's even a sheepskin lined pocket for sunglasses. Jack is just the star got ideas and designs for a whole line from outer shells to base layers. I call it steep tech Simon puts the illustrations down. Well you've clearly put a lot of work into this but it won't sell extreme skiing here doesn't have a future because it's something only a handful of people can do. Schmidt tries to salvage his ailing pitch. Surely there'd be some crossover. Ordinary skiers love extreme ski movies. I'm always meeting folks who WanNa do extreme skiing. Maybe they'd think years awesome and Bhai it anyway even if they don't need it. Simon sits back in his chair. Schmitz got a point. Maybe some people will wear this stuff to broadcast their perceived prowess besides an extreme ski line would also reaffirm. The North faces the go-to to brand. For even the most niche high performance gear. There might be a crossover effect and that does happen with our everest gear. Okay Okay Maybe. There's something in a premium price specialist line. But don't expect much. I still doubt anyone's GonNa want this stuff. It's a downbeat assessment. Schmidt doesn't care the North base is going to pay him to co design his own skiwear line and after years of living hand to mouth. Even a small pay day is cause for celebration but while the north face gets to work on steep tech. Black clouds are descending on Patagonia July nineteen ninety-one and in Patagonia's offices in Ventura California. There's fear in the air. The usual upbeat vibe is gone. Employees speak only in whispers and all eyes are on the meeting room inside. There's a consultant and he's here to call the ranks. Everyone recoils is the meeting room opens in the consultant steps out. He scans the open plan office then makes a beeline to the desk of a woman with long dark hair as he leads her into the meeting room. She exchanges worried glances with her colleagues minutes. Later she reemerges is red with tears and newly unemployed as the day continues more fall by late afternoon. One hundred and fifty people are gone. That's a fifth Patagonia's entire workforce for a company that's long felt more like family than a workplace. It's brutal for most employees. Patagonia is a home away from home where they enjoy on site child care much freshly baked pineapple muffins and put work aside. Whenever the SURF's up as the day draws to a close evonne charge gathers the survivors together. She and arts spent years talking about slowing Patagonia's rocketing growth but today's cuts aren't choice there in assessing forced by the recession. That's ravaging the nation. Today's been the darkest day in Patagonia history. But it had to happen because when angry employees can't contain himself and cuts yard off had to I know the sales figures we're on track to grow twenty percent this year. She turns to the employee. You're right you're right. But we plan for forty percent growth and we hired and spent on that basis. The recession means retailers ordering less leaving us with excess inventory. Our Bank is struggling to in cutting credit line. She Yard let's news thinking before. Continuing truth is we've been growing at an unsustainable rate but that is never happening again from now on we grow sustainably and though Patagonia's workforce doesn't know it..

Scot Schmidt Bill Simon Patagonia north face north Odyssey international Berkeley California founder Mullets uncombed ski Odyssey baseball Schmitz consultant Jack Ventura California
"odyssey international" Discussed on Business Wars

Business Wars

02:31 min | 11 months ago

"odyssey international" Discussed on Business Wars

"The swelling product range in store investments leave north face strapped for cash and cash flow is in claps. Only problem it's Spring Nineteen eighty-eight in Berkeley California Klopp is having beers with North Face. Board member and spinnakers fresh fish grotto the to go way back in. This nautical theme Bar and restaurant is one of their favorite hangouts but tonight klopp seems distracted. The board member takes a swig of beer. Narrows his eyes at KLOPP. Come on HAP- spit it out. I've known you long enough to know when something's up what's a matter. Pained expression comes over KLOPP space. Things need to change at the north face. I'm wasting too much time fighting with troublemakers on the board. And it's hurting the business. I think I need to buy them out with what money. Actually I've been talking to lenders. I can borrow enough to buy them out. But something's holding me back my gut saying don't do it. The board member finishes his beer and looks at his pal. Have it looks to me like you're not happy at the north face anymore and you know if I'm right well then. Why take on all that personal debt? Why not just sell your stake and go do something? You enjoy klopp stairs into his beer. His buddies right. He doesn't enjoy his job anymore and he always told himself at when the funds stops. It's time to go shortly after. Klopp puts the north face of for sale. It doesn't take long to find a buyer in May nineteen eighty eight Hong Kong manufacturing agent. Odyssey international pays five point. Four million dollars for the north face but collapsed. Not The only one questioning what he's doing avant shoe unease about Patagonia's success is growing and soon he'll be forced to decide once and for all what to do with the monster he's created on the next episode out aware. Goes Street Patagonia is reborn and the north face assembles. A Dream Team.