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  • Hey all, just changed over the backend after 15 years I figured time to give it a bit of an update, its probably gonna be a bit weird for most of you and i am sure there is a few bugs to work out but it should kinda work the same as before... hopefully :)

oakley and luxottica

I wonder how this will affect our chances of getting a pair of sunglasses with our cameras.
 
I thought this info was brand new I was about to post. Seems like RED won't be getting sidetracked now. Smart move on the sale. Maybe this was the engineering hold. :) Find a way to transport all that money to the bank.
 
It's good for Jim and now he can concentrate on Red One, Jim Jannard holds 64% of Oakley, and Luxottica's chairman and founder Leonardo Delvecchio owns 70% of his company, it'll be good merger.
I was reading wallstreel journal this morning and oo went up sharply. I thought was Gucci stuff, but fact is good new for every RED reserve holders.

Wall street Journal:
"We had some issues in the past," Guerra said during Thursday's conference call. "But there's been a big improvement in the last 24 months...we had to learn how to do business together."

Guerra's own role in putting the deal together didn't go unnoticed. Merrill Lynch said in its note Thursday that "this is Andrea Guerra's first real move of consequence since his arrival."

The bank said, "It will be interesting to see how two companies with such different cultures and who have clashed so publicly in the past will now integrate operations."

http://online.wsj.com/article/BT-CO-20070621-713831.html?mod=hps_us_my_companies

Also Red One is separate company; it's not public trade company. I guess Jim holds 100% of Red One.
 
I think Jim's statement that he would never take Red public speaks volumes re: his experience going public with Oakley. When major investors come into play (even if you don't go public), the game changes tremendously. Just like Mac cosmetics - great minds created a great company, but Estee Lauder comes in, guaranteeing that nothing will change, and despite the promises 2 years later everything is gobbled up and all the great minds are gone. It's a tough gig.

None the less, he created a great company, great product and great returns. May that good fortune continue with Red and with it staying private.
 
crafty

crafty

Smart move on the sale. Maybe this was the engineering hold.
Click to expand...

I was thinking something like that. Maybe there is no problem with the boards that go into RED. Maybe they just couldn't start production of RED Ones untill Jim had more cash from the sale of Oakley, which obviously he couldn't tell anyone about. Please, please, please let this be the case. OK, maybe this is just wishfull thinking.
 
Eugene - I don't think the engineering delay had anything to do with it - they had an engineering hold, plain and simple.

And even if Jim needed some cash he didn't have sitting around (and everybody at that level keeps somewhat diversified and keeps somewhat liquid) - if he needed a few tens of millions, he could sell off a few percent of his OO shares no problem.

And Kalone - thanks for the kudos.

-mike
 
Congratulations Jim for one more achievement @yours -- we are glad in and on your behalf!
 
graph

graph

I think this graph says it all.

2610290104002.png
 
history repeats its self

history repeats its self

benz-chrysler.02.jpg


Back in 1998, there was a similar merge, but it involved automotives instead of eyewear. There are many parallels. A merger of two corporations with distinctly different corporat cultures, one conservative European and the other innovative American. Daimler recently gave up an cut Chrysler loose at a huge loss. Maybe in ten years Jim can scoop back up Oakley for a pittance, after Luxottica realizes they can't tame the rebels at Oakley.

ceos_banner_b.jpg


Notice Eaton smiling. I bet Jim is smiling too, all the way to the bank.
 
meshing of corporate culture

meshing of corporate culture

I don't think jock Oakley and nerdy Luxottica can hope for any type of synergy.

71754812.jpg
 
Only Jim knows the reasons and some will be financial some will be familly and some will be....but these are his and his reasons only and ultimately not Red.....
 
With $2bn from Oakley sale Jim could probably move Red HQ to Mars if he wanted, he`d just need to build a cutting edge space ship (in about 36 months I reckon, based on Red One dev.) and remember to provide factor 8000 sun block (which would also need inventing) to crew members. The business advantages wouldn`t be obvious in the short to long term, but the prestige and PR potential, enormous. It is the red planet after all..
 
Eugene said:
I don't think jock Oakley and nerdy Luxottica can hope for any type of synergy.

71754812.jpg
Click to expand...

The word on the proverbial street is that wayfarers are the next big thing... The guy who's wearing them is making a goofy expression, but those have been (and will probably be pretty soon) the height of fashion.

IMO, Aviators are best, though, but still...

Risky_Business.jpg
 
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