Oakley experiancing BIG changes

motomike137
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motomike137 7/29/2016 9:41am
7/29/2016 9:41am
I feel the pain of those 400 employees. I have worked in the automotive business all my life and have been lucky to weather most of the storms. I know many who were not so lucky and not all of them were able to put the pieces of there lives back together. We have a name for the hard working designers, engineers and others who show up every day for work and pour their heart and souls into it, we call them "true believers". I hope these 400 true believers all find new gigs to pour there hearts into.
moscrop940
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moscrop940 7/29/2016 10:00am
7/29/2016 10:00am
motomike137 wrote:
I feel the pain of those 400 employees. I have worked in the automotive business all my life and have been lucky to weather most of...
I feel the pain of those 400 employees. I have worked in the automotive business all my life and have been lucky to weather most of the storms. I know many who were not so lucky and not all of them were able to put the pieces of there lives back together. We have a name for the hard working designers, engineers and others who show up every day for work and pour their heart and souls into it, we call them "true believers". I hope these 400 true believers all find new gigs to pour there hearts into.
I hear you there.

Been through 3 mass layoff's myself, been fortunate to have survived all of them, but its still so shitty to have to go through it. To walk back to your desk while you watch colleagues whom have become your friends pack there belongings into a box is horrifying to watch.

Business is never the same after that.


I will be curious to see how this plays out for all the outside people for Oakley (Road reps, rider support, etc).


Best of luck to everyone affected by this bull.

MR. X
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MR. X 7/29/2016 10:13am
7/29/2016 10:13am
They have been selling sunglasses at a billion percent Mark up for how long now ? How do you fuck up that gravy train?
yak651
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yak651 7/29/2016 10:14am
7/29/2016 10:14am
yak651 wrote:
Maybe because it puts shareholder earnings ahead of whats good for the company? A company still making money and providing jobs for many people, then a...
Maybe because it puts shareholder earnings ahead of whats good for the company? A company still making money and providing jobs for many people, then a bigger company buys them out and shuts the doors. People say the 4 stroke killed this sport, it had a part in it, but lack of good paying jobs is what will finally do it in
FreshTopEnd wrote:
"Maybe because it puts shareholder earnings ahead of whats good for the company" Well, shareholder earnings are why corporations exist. That's the point of a corporate...
"Maybe because it puts shareholder earnings ahead of whats good for the company" Well, shareholder earnings are why corporations exist. That's the point of a corporate form, whether it's one shareholder or many. There's a balance, but the job and duty of directors is to return value to shareholders, not preserve a vibe if doing that limits returns.

It has a lot less to do with big or small - there are many large companies that are private - more about what sort of control you are going to trade off for access to capital. That's usually a zero sum game.
I understand how it works and why but just feel its a "rigged" system. The company i work for acquires a lot of smaller but profitable companies. Most times we try to improve their efficiencies where they are but many times it results in job loss and consolidations. Just feel bad for those that worked there 20-30 years and did nothing "wrong" but loose their job so the shareholders see a $.25 gain per share

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NV825
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NV825 7/29/2016 10:35am
7/29/2016 10:35am
The 60 Minutes segment was good info as I had never heard of Lux till this thread. Pretty impressive that they own so much of the eyewear vertical. Really sucks to hear that several hundred of people lost their jobs. Hopefully they land on their feet at some competing brands and can help elevate them to the same successes.

While the system feels "rigged" to a bunch of people, the President of Lux has a duty to the people investing in them by being publicly traded. He can't just sit back and do nothing. He has to constantly guide the ship to increase revenue while decreasing costs. It comes down simply to numbers at the level Lux operates, which sucks for the lower level employees but it's reality.
Sparkey
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Sparkey 7/29/2016 11:35am
7/29/2016 11:35am
My daughters friend was at Oakley for 13 yeas and got canned about 18 months ago. She just recently landed somewhere else. Also, what's interesting, my office is a 3 wood from Oakley and there has been a building that has been a revolving door for tenants the past 10 years we have been here. Last Monday the parking lot had way more cars in it and there was an 'O' sheet of paper taped to the front door. I'm wondering if they are shutting part of the Oakley building down as that thing is monstrous.
JAFO92
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JAFO92 7/29/2016 12:28pm
7/29/2016 12:28pm
My order of two new pair of Scott Recoils showed up today.

Underdog999
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Underdog999 7/29/2016 1:01pm
7/29/2016 1:01pm
FreshTopEnd wrote:
^^ But....bless him and his new ventures like Red, big fan and I appreciate his feeling...but really he reduced it to a bottom line number when...
^^

But....bless him and his new ventures like Red, big fan and I appreciate his feeling...but really he reduced it to a bottom line number when he cashed out, and that a company like LUX reduces things to a bottom line number going forward is about as shocking as Captain Renoux discovering gambling at Rick's.

Sometimes you can't eat your cake and have it, too. There's a little eyeglass company back east named Shuron that has been around since the 30's and 40's whose designs have been ripped by most other manufacturers, including LUX's Ray Ban (eg. Ray Ban's clubman). Shuron frames are about half the price.

You want to preserve culture, don't give up control.
You made me curious about Shuron so I went to their webbie. They have been around since 1865!!! Located in South Carolina. Cool!
One Last Comeback 7/29/2016 1:04pm
7/29/2016 1:04pm
These companies exist for one reason- paying shareholders. They have no other objective.
Look at railroads with 30-40% volume declines this year for some commodities they haul. Yet they still pay out great dividends come earnings time. The way they are able to do this is by instantly cutting thousands of jobs. They won't even try and get new business. The only thing that matters is profit, and that is just the way it is.
thefactorypilot 7/29/2016 8:46pm
7/29/2016 8:46pm
NV825 wrote:
The 60 Minutes segment was good info as I had never heard of Lux till this thread. Pretty impressive that they own so much of the...
The 60 Minutes segment was good info as I had never heard of Lux till this thread. Pretty impressive that they own so much of the eyewear vertical. Really sucks to hear that several hundred of people lost their jobs. Hopefully they land on their feet at some competing brands and can help elevate them to the same successes.

While the system feels "rigged" to a bunch of people, the President of Lux has a duty to the people investing in them by being publicly traded. He can't just sit back and do nothing. He has to constantly guide the ship to increase revenue while decreasing costs. It comes down simply to numbers at the level Lux operates, which sucks for the lower level employees but it's reality.
If you assume to keep going on those 2 trajectories, eventually the product falls apart and the cycle has to reset.
Its happening to Southwest Airlines... Wallstreet is dictating that the company increase profitability and reduce costs EVERY quarter... It has effectively destroyed the soul of the company. .
Eventually the product will become so shitty that it has to be retooled and reset and start anew.
ML512
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ML512 7/29/2016 8:57pm
7/29/2016 8:57pm
I heard something interesting today... So apparently Jim Jannard still owns the property and building that Oakley's headquarters is in... And the lease is up soon ...
newmann
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newmann 7/29/2016 9:30pm
7/29/2016 9:30pm
ML512 wrote:
I heard something interesting today... So apparently Jim Jannard still owns the property and building that Oakley's headquarters is in... And the lease is up soon...
I heard something interesting today... So apparently Jim Jannard still owns the property and building that Oakley's headquarters is in... And the lease is up soon ...
Any manufacturing equipment staying behind???
stevee401
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stevee401 7/29/2016 11:10pm
7/29/2016 11:10pm
Sparkey wrote:
My daughters friend was at Oakley for 13 yeas and got canned about 18 months ago. She just recently landed somewhere else. Also, what's interesting, my...
My daughters friend was at Oakley for 13 yeas and got canned about 18 months ago. She just recently landed somewhere else. Also, what's interesting, my office is a 3 wood from Oakley and there has been a building that has been a revolving door for tenants the past 10 years we have been here. Last Monday the parking lot had way more cars in it and there was an 'O' sheet of paper taped to the front door. I'm wondering if they are shutting part of the Oakley building down as that thing is monstrous.
What do you know? Maybe BTS Lubricants is moving in.
Myke
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Myke 7/29/2016 11:24pm
7/29/2016 11:24pm
So in other interesting news the Chairman (and founder) of Luxottica last year for his 80th birthday granted 10 million shares of the company to it's employees.

Leonardo Del Vecchio is a rags to riches story as stated in this article. Pretty impressive.

http://www.forbes.com/profile/leonardo-del-vecchio/

https://en.wikipedia.org/wiki/Leonardo_Del_Vecchio
Big E
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Big E 7/30/2016 10:42am
7/30/2016 10:42am
ML512 wrote:
I heard something interesting today... So apparently Jim Jannard still owns the property and building that Oakley's headquarters is in... And the lease is up soon...
I heard something interesting today... So apparently Jim Jannard still owns the property and building that Oakley's headquarters is in... And the lease is up soon ...
In that case, this is going to get good! I wonder how long his non compete is...
rostocker
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rostocker 7/30/2016 12:30pm
7/30/2016 12:30pm
For me the change was quite good. Bought a pair of airbrake with roll off, that broke first time out and I made a complaint to their after market support. They probably didn't even know what roll offs are, so i got a new pair of goggles with the roll off system (like the ones I originally bought) and they didnt want my broken pair back. Now I have 2 pairs for the price of one (still ridiculous expensive) cheers

Pit Row

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bwilky
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bwilky 7/30/2016 1:05pm
7/30/2016 1:05pm
ML512 wrote:
I heard something interesting today... So apparently Jim Jannard still owns the property and building that Oakley's headquarters is in... And the lease is up soon...
I heard something interesting today... So apparently Jim Jannard still owns the property and building that Oakley's headquarters is in... And the lease is up soon ...
Big E wrote:
In that case, this is going to get good! I wonder how long his non compete is...
I believe the non-compete was 7 years and has been over for a couple years. I've heard that Jim does own the building, and I've also heard that is a rumor and LUX acquired it in the sale (which makes sense).
bwilky
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bwilky 8/2/2016 11:40am
8/2/2016 11:40am
ML512 wrote:
I heard something interesting today... So apparently Jim Jannard still owns the property and building that Oakley's headquarters is in... And the lease is up soon...
I heard something interesting today... So apparently Jim Jannard still owns the property and building that Oakley's headquarters is in... And the lease is up soon ...
This has been a rumor since the sale. I heard LUX was paying $500,000 a month in rent. I also heard it wasn't true at all. LUX has been dumping tens of millions of dollars into upgrades at this facility in the last year or two, I doubt they are going to let the building go.

Also, here is something interesting regarding Jim and a new venture that he's been hinting at for some time now.

https://trademarks.justia.com/867/65/j-86765150.html
FreshTopEnd
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FreshTopEnd 8/2/2016 11:52am
8/2/2016 11:52am
bwilky wrote:
This has been a rumor since the sale. I heard LUX was paying $500,000 a month in rent. I also heard it wasn't true at all...
This has been a rumor since the sale. I heard LUX was paying $500,000 a month in rent. I also heard it wasn't true at all. LUX has been dumping tens of millions of dollars into upgrades at this facility in the last year or two, I doubt they are going to let the building go.

Also, here is something interesting regarding Jim and a new venture that he's been hinting at for some time now.

https://trademarks.justia.com/867/65/j-86765150.html
Smile
Big E
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Big E 8/2/2016 2:45pm
8/2/2016 2:45pm
FreshTopEnd wrote:
Smile
OH EM GEE!!!
Jmicmoto13 8/2/2016 2:55pm
8/2/2016 2:55pm
MR. X wrote:
They have been selling sunglasses at a billion percent Mark up for how long now ? How do you fuck up that gravy train?
My freaking thoughts exactly! Mismanaged profits into things that did not pan out into padding the bottom line.

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