Boardriders surfs tough retail conditions
Dave Tanner just pulled off a "Triple Lindy", the infamously implausible dive executed by Rodney Dangerfield’s character in the 1986 comedy Back to School that utilised all three platforms and appeared – at least in slow motion – to go on forever.
While heading the special situations team at California-based Oaktree Capital Management, Tanner spearheaded a move that has played out over six-plus years: buy into beaten-down surf company Billabong International; buy into rival Quiksilver, force a distress for control taking it into Chapter 11 Bankruptcy, and turn the company around; then take control of ASX-listed Billabong, which nearly didn’t happen, and try to integrate the two fierce rivals.
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