tivoli_mike Posted March 3, 2006 Share Posted March 3, 2006 That's alot of "Life is Good" shirts! Of course that billion dollar number is from sales income. I was going through the statements included with my dividend notice and was struck by the amount of cash on hand, which was about $135 million dollars. Of course there was related the expansion plans of several new stores and an eastern US DC, but still...is REI going to buy out EMS? I mean "Big Green Vest" isn't carrying any long term debt on their books... Quote Link to comment Share on other sites More sharing options...
cj001f Posted March 3, 2006 Share Posted March 3, 2006 Run through a few more board rule changes to completely exclude the "owners" from control, then take the fucker public with a big IPO at an opportune market moment. Quote Link to comment Share on other sites More sharing options...
underworld Posted March 3, 2006 Share Posted March 3, 2006 i thought you only got dividends if you shopped there?? Quote Link to comment Share on other sites More sharing options...
archenemy Posted March 3, 2006 Share Posted March 3, 2006 That moment is passed. Many companies are now headed the other direction (going private) due to SOX, BASEL, etc. Quote Link to comment Share on other sites More sharing options...
tivoli_mike Posted March 3, 2006 Author Share Posted March 3, 2006 i thought you only got dividends if you shopped there?? If you had the REI credit card then you would earn 1% on any kind of purchase through that. ANother point is that $7 million of dividend went unclaimed... Quote Link to comment Share on other sites More sharing options...
foraker Posted March 3, 2006 Share Posted March 3, 2006 Whoopee. I gotta buy $20,000 worth o' crap to get a $200 anything. Quote Link to comment Share on other sites More sharing options...
Squid Posted March 3, 2006 Share Posted March 3, 2006 i thought you only got dividends if you shopped there?? If you had the REI credit card then you would earn 1% on any kind of purchase through that. ANother point is that $7 million of dividend went unclaimed... Yeah, I saw that. Do have any idea how many months of library fines that would cover for me? Quote Link to comment Share on other sites More sharing options...
willstrickland Posted March 3, 2006 Share Posted March 3, 2006 Small companies are the ones hurting from implementing S0X. A $B revenue company isn't going to feel it too much. If the board members figure out a way to pad their wallets via zero cost options, grants, etc by taking it public, they won't care about the bottom line, "member" concerns, etc. Corp governance is in a sorry state. And with REI, the structure precludes any real "member" involvement with board decisions. I looked into this extensively about two years ago. Read all their docs, rules, charter etc. Pretty ingenious the way they've fucked the "members" from being able to actually steer or influence the "co-op". They'll go the way of Eddie Bauer eventually. If the people who actually formed this "co-op" had their original vision followed (i.e. getting good outdoor gear, some unavailable through other sources in the US, at a discount due to volume and low overhead)...if that vision was followed we wouldn't have these ridiculous "flagship" stores and climbing towers, latte shops, rain rooms, and other bullshit that undercuts the original vision and drives up overhead. AND DON'T PLAY THE VOLUME CANARD. I don't care if they sell 800,000 purple tinted Nalgenes allowing me to save .25, I care that I can't get any actual climbing gear there because their selection sucks hind tit. Sad, but I've given up on them. I give my business to local, independent shops. Fuck REI. Quote Link to comment Share on other sites More sharing options...
cj001f Posted March 3, 2006 Share Posted March 3, 2006 That moment is passed. Many companies are now headed the other direction (going private) due to SOX, BASEL, etc. The moment well come again. Cycles darling, cycles. The money to be made is in change, not stasis. Quote Link to comment Share on other sites More sharing options...
Johnny_Tuff Posted March 3, 2006 Share Posted March 3, 2006 Whoopee. I gotta buy $20,000 worth o' crap to get a $200 anything. Take your REI Visa back to REI HQ and tear it apart with your bare hands! I hear they're made of recycled BD helmets. "This little rectangular piece of shit is worthless! I demand a higher rate of return, and a new helmet!" Quote Link to comment Share on other sites More sharing options...
willstrickland Posted March 3, 2006 Share Posted March 3, 2006 Just don't pay that credit card off too fast, or homeland lackofsecurity will come after ya...try this one for size (I am not kidding, this is majorly fucked up): http://www.shns.com/shns/g_index2.cfm?action=detail&pk=RAISEALARM-02-28-06 Quote Link to comment Share on other sites More sharing options...
tomtom Posted March 3, 2006 Share Posted March 3, 2006 Having over $6,000 in credit card debt is majorly fucked up. Quote Link to comment Share on other sites More sharing options...
cj001f Posted March 3, 2006 Share Posted March 3, 2006 Having over $6,000 in credit card debt is majorly fucked up. The average debt is $8.500... Quote Link to comment Share on other sites More sharing options...
tivoli_mike Posted March 3, 2006 Author Share Posted March 3, 2006 Having over $6,000 in credit card debt is majorly fucked up. According to the survey, 46.2% of all families now carry a credit card balance. This is up from 44.4% in 2001. Households are also carrying higher balances; the mean balance is now $5,100 ($4,400 in 2001) and the median balance is $2,200 ($2,000 in 2001). The median income is currently $43,200 and the typical family's credit card balance is now almost 5% of their annual income. fed reserve numbers Quote Link to comment Share on other sites More sharing options...
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