Patagucci

One-Off

Tom Curren status
Jul 28, 2005
14,123
10,242
113
33.8N - 118.4W
On the first page didn't someone link an article from some lawyer saying that they can't write any of this donation off?

If you have hundreds of millions in the bank, how much more do you need?

I hated my Patagucci suit. Worst neck rash ever. Poor design w/ seam on the back of my spine. They gave me a full refund.

Love my jacket. I bought 2. Dog ate one and the liner flaked off on the other. Gave me a new one. Liner flaked again and got a new one. This has been over 10 years, and I was told the new liner will never flake. Worth the extra price, if they continue to warranty their products.

2 friends of mine got vibed by Yvonne on the beach at Drake's b/c they brought a friend. Told them they can't bring friends there.
I'm trying to imagine what kind of vibe you get from guy named Yvonne?
 

TangTonic

Nep status
Feb 24, 2011
775
626
93
Seems that way and making their own films. I’d be interested to hear if there’s a backstory. They’re my favorite surfers.
Some of my favorite surfers too!

Have you guys seen the old surf flick "All for One" Its all about them and one of my favorite surf movies. Brings me back to the good old days.
 

Duffy LaCoronilla

Duke status
Apr 27, 2016
38,638
27,969
113
Duffy, if I didn't know any better I'd swear you were a bot engineered for the sole purpose of picking at all the minute details of an incredible story. You're right, he didn't donate billions. He donated billions in the form of one asset.
He did not do that.

He created a “non-profit” entity run by his family. It’s a tax shelter.

Also, nowhere near a billion dollars will spent on anything that might, maybe, in theory do “something” about climate.

But feel free to keep sucking his dick.


The transfer of Patagonia is structured so that Chouinard and his family are still in control of the company, which is worth an estimated $3 billion, according to the New York Times. But now, because 98% of it has been transferred to the newly established Holdfast Collective, a nonprofit, they don’t have to pay what Bloomberg estimates could be $700 million in the federal capital gains taxes that would have resulted from a standard sale of the company. And if the Holdfast Collective sells the shares, it also won’t be on the hook for capital gains.

Had Chouinard decided to leave the company to an heir—his two adult children were reportedly not interested in being seen as financial beneficiaries—he would have potentially paid significantly more in estate and gift taxes. The government levies a 40% tax on assets above $12.06 million when they are transferred to heirs. For a $3 billion company, that’s over $1 billion in taxes.
 

freeride76

Michael Peterson status
Dec 31, 2009
3,336
4,141
113
Lennox Head.
They always seemed very nonchalant about pro surfing and the industry. Dane Reynolds kinda similar ish I guess. Doesn’t seem like a great way to stay in the game long term from what I can tell.
Exact opposite.

Reynolds was at least a CT surfer and made fuk u money.

Malloy's have had incredible longevity for their level of talent and not ever having made the CT.

Still collecting cheques now- thats insane longevity.
 
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slipped_disc

Billy Hamilton status
Jun 27, 2019
1,453
2,185
113
He did not do that.

He created a “non-profit” entity run by his family. It’s a tax shelter.

Also, nowhere near a billion dollars will spent on anything that might, maybe, in theory do “something” about climate.

But feel free to keep sucking his dick.

So stating facts = sucking dick. Roger. Like I said earlier, we don't all agree that this donation is an incredible thing.
 

Duffy LaCoronilla

Duke status
Apr 27, 2016
38,638
27,969
113
So stating facts = sucking dick. Roger. Like I said earlier, we don't all agree that this donation is an incredible thing.
Problem is, you aren’t stating facts.

Whether or not this is an incredible thing remains to be seen.

What will they do with the money? Will whatever they do actually have an impact? Will it be just political donations or will they be funding technological innovation? Will they support nuclear power? Will they advocate for the banning of private jet travel?

All of this remains unanswered.

I totally understand how this makes certain types of people feel really good though.
 
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john4surf

Kelly Slater status
May 28, 2005
8,920
3,557
113
CBS, CA
It’s still a mythical quest, I’m rolling sight unseen into a small chain of islands off the storm swept west coast of Ireland. With only the vaguest references to “some crazy reefs out there”. Oh and they don’t have cars and they make really nice sweaters.

the islands have pre Christian religious sites. That’s mythical kind of

let’s just say “the guy” will make my mythical quest more colorful, authentic, and with a bit of Irish luck, more surf filled
 

Attachments

Subway

Administrator
Staff member
Dec 31, 2008
13,496
10,105
113
LBNY
See I bet there’s a SICK right hander that comes out of deep water, just to the right of that Druidic circle of doom
 

PRCD

Tom Curren status
Feb 25, 2020
12,510
8,542
113
Truth be told, there were no good options available. So, we created our own.
“Truth be told, there were no good options available. So, we created our own.”

I need to start writing dystopian environmental fanfiction. These SWPLs (to use an archaic term) eat this stuff up.

Instead of “going public,” you could say we’re “going purpose.”


Here’s how it works: 100% of the company’s voting stock transfers to the Patagonia Purpose Trust, created to protect the company’s values; and 100% of the nonvoting stock had been given to the Holdfast Collective, a nonprofit dedicated to fighting the environmental crisis and defending nature.
1663382318726.png
me rn

Here’s how it works: 100% of the company’s voting stock transfers to the Patagonia Purpose Trust, created to protect the company’s values; and 100% of the nonvoting stock had been given to the Holdfast Collective, a nonprofit dedicated to fighting the environmental crisis and defending nature. The funding will come from Patagonia: Each year, the money we make after reinvesting in the business will be distributed as a dividend to help fight the crisis.

It’s been nearly 50 years since we began our experiment in responsible business, and we are just getting started. If we have any hope of a thriving planet—much less a thriving business—50 years from now, it is going to take all of us doing what we can with the resources we have. This is another way we’ve found to do our part.
I'm motivated.

Despite its immensity, the Earth’s resources are not infinite, and it’s clear we’ve exceeded its limits. But it’s also resilient. We can save our planet if we commit to it.
*mike drop / roll tape*


Gentlemen, this is marketing at its level best.
 

kelly7873

Nep status
Jan 20, 2002
837
356
63
Honolulu
Patagonia has pissed me off a bit with their political stances the last few years but I still support the brand mainly because of the surfers they sponsor. I seem to go out at the same spots as them, I'm in the water with Kohl , Ramon, Big Ben, Moona (Kitesurfer) often, Chris and Dan but not in years and Greg Long a couple times and they are all super cool.
 
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PRCD

Tom Curren status
Feb 25, 2020
12,510
8,542
113
Always support a brand as much as it supports you or any of its employees, which is not at all. When the chips are down I've never called a brand for help.
 
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