The selling is mainly retail investors
Yes Aussie retail not bad at all
Agree senior mgnt taking to long to turn it around
They need to rip the Australian business apart
So rip curl sales are $500 mil abs ebitda was $51 mil
Bbg sales $1 bn ebitda $51 mil what the fk
Neil has to go he has gone to soft on Australian mgnt... he has been feed lies and it has caught up on him
They need to defer dougall walker in who was ex CEO of volcom Australia to cut the shit out of the business and start making money
The brands are good but mgnt just not upto it
Mkt worried about debt covernants ... I don't believe breached yet and business tracking ok
Remember oaktree paid $1.40 for $50 mil
Balance sheet better ebitda stabilised but stock tanking
I think sentiment in retail investor works hard as noise coming out of billabong Australian bad as mgnt turning up heat
We need to see a lot of heads go in Australia and fast
