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Oakley Sold (1 Viewer)

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MSNBC is reporting that the Italian company Luxottica (owner of Ray Ban and Prada) is buying Oakley in a 2.1 billion dollar all-cash deal.

According to the article, the sale has been approved by both companies' board of directors.

I'd say all around good guy Jim Jannard has a wee bit of mad money to keep his drag racing interests going for a while.
 
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Kinda depressing news there. I have always supported Oakley and took pride in the fact that they were an American company. I'm happy Jim got the big bucks for all his hard work, but I personally think it sucks. I hope they continue to support Drag Racing.

Any comments Jerrod...?
 
Registered member said:
I hope they continue to support Drag Racing.

Any comments Jerrod...?
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That is the biilion dollar question right there...

Hopefully their quality stays solid, I have the best luck with their stuff. Even in an auto shop environment, the shoes are durable as anything else I've ever tried.
 
Wooo Weeeee! That's a lot of ca$h!

Nice for Jim, but sucks for us. I'm sure we'll be given the usual lines that nothing will change, but it all does in the end eventually. The product probably won't be the same for much longer.

I'm guessing this will move Jim up on the Forbes list? LOL!!
 
Just another American company with American pride defecting. But you can't turn your back on the $$$. Hope they stay in the sport.

What about the major $$$ the military spends at the O store?


Bloomberg.com: Worldwide
 
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with that kinda cash do I have a deal for him. I'll drive whatever drag car he wants
 
When Gary won the last race he stated that Jim was overseas and was listening via the internet I guess now we know why.

I have to check my stocks!
 
:)Something tells me JJ will keep busy.

$2 Billion can create a lot of opportunities for a fertile mind.
 
RayBan owner Luxottica to buy Oakley for $2.1 bln: Financial News - Yahoo! Finance

Well the stocks are a pleasant surprise! :D
Jim dosn't get the entire amount guy's that is why there are share holders like myself and quite a few others! ;)
I bought at $18.02 and it's 28 and some change not bad, not bad at all!
Jim will definitely not be hurting, he never was, that's for sure.
I wonder if Jim will negotiate to keep his hand in the mix or just do an about face and enjoy the rest of his life and take some well deserved time off?
Either way some where down the road it may effect the advertising side sponsorshp of the company only time will tell.
 
Registered member said:
I wonder if Jim will negotiate to keep his hand in the mix or just do an about face and enjoy the rest of his life and take some well deserved time off?
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I'm familiar with people like Jim, and when something like this happens, they play golf for a couple of weeks, maybe travel a bit, then quickly get bored. When that happens, they start thinking about their next big project.
 
Registered member said:
I'm familiar with people like Jim, and when something like this happens, they play golf for a couple of weeks, maybe travel a bit, then quickly get bored. When that happens, they start thinking about their next big project.
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Maybe,but you never know he has spent good part of his life making that company successful!

I remember when they were just a little company selling grips out of a trunk of a car at motocross meets that was a long,long time ago! :rolleyes:
 
Registered member said:
Well the stocks are a pleasant surprise! :D
Jim dosn't get the entire amount guy's that is why there are share holders like myself and quite a few others! ;)
I bought at $18.02 and it's 28 and some change not bad, not bad at all!
Click to expand...

The Reuters story says you will receive $29.30 per share from Luxottica.
 
Registered member said:
The Reuters story says you will receive $29.30 per share from Luxottica.
Click to expand...

I could live with that! :D

Oakley is considered an agressive stock with a high risk $11.28 profit per share is a good deal but I'm a little bumbed over the deal as a hole and it's overall impact as a sponsor and official eye wear for the NHRA!
There are a lot of unknown's in transactions such as these.


Maybe Gary retiring isn't a bad move after all! :eek:
 
Congratulations Jim!
You certainly deserve it! You've earned every dollar of this and I, for one, don't believe your lifestyle will change one iota given the opportunities you have in that mind of yours.

I just love success stories -- especially when they happen to/for hard workers and nice guys. Jim is every bit of both.
 
Wow!

That is very cool, Way to Go JJ!

I was one of the original 20 Factory Pilots and remember the dinner at the factory when Jim told us he was going to make sunglasses! Oakley Blades and then came the Frogs. I had to get out of my Varnett contract in less than 30 days and sign a new Oakley contract for Grips and Glasses.

He was on a plane and sat next to the owner of Scott who told JJ that he was making more $$ with their glasses and that Oakley could have the Goggle market. Basicly insulted Jim and the rest they say is history.

Well I guess we will just take the profit from the Oakley stock and move it over to HD.

Have Fun,
Fred
Vintage Drag Club
 
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