1) Andrus has a big stake (still) in the company and is working for Tagg Romneys private equity group...
2) Scott Olivet (board member) now CEO of Billabong and in he midst of a huge financing deal
3) Wescoat comes in and is staying "a little longer" then the rest of the executive staff, he is no stranger to buyouts
4) Hoby has also been involved in divesting/selling parts of Nike
5) Entire executive staff is now off the payroll (no loose compensation/awards)
6) All new replacements for executive staff are from within
7) Closure of the "other office" in California - thus more consolidation for a clean sale as the private equity guys don't want offices and leases (plus an extra 30 employee's)
8) Liquidating of all inventory (from my Channel Checks), they are pushing everything they can out the door and not pushing any higher end products.
9) non- release of the Crusher to retail and "trail releases" of PLYR1 - These two products hold untapped value that can be utilized to leverage a sale (post equity buyout).
This company is setting up for a private equity buyout. The equity guys will split out Astro and 2XL and Skullcandy brand either sell or run individually.
I just don't see any bigger players wanting to buy these guys (Maybe Adtro)...