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Old 09-19-2012, 01:35 PM   #1
clapped_r6 OP
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what's this i hear about Giant Loop being sold?

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Old 09-19-2012, 02:00 PM   #2
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Giant Loop Emerges from Start-Up Challenges Positioned for Growth

"...co-founder Harold Olaf Cecil has taken full ownership of Giant Loop.


Company co-founder Dave Wachs recently sold his interest in Giant Loop..."


http://giantloopmoto.blogspot.com/#!/2012/09/giant-loop-emerges-from-start-up.html
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Old 09-19-2012, 02:17 PM   #3
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So...is this a good thing or not? Hoping Wachs wasn't "Pushed Out".
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Old 09-19-2012, 02:32 PM   #4
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Never met him in person, but in email correspondence, Harold seemed like a pretty good guy to me.
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Old 09-19-2012, 02:34 PM   #5
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Old 09-19-2012, 02:46 PM   #6
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Coming soon: Made in China
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Old 09-19-2012, 02:51 PM   #7
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Quote:
Originally Posted by yondering View Post
Never met him in person, but in email correspondence, Harold seemed like a pretty good guy to me.
Quote:
Originally Posted by Scott_PDX View Post
So...is this a good thing or not? Hoping Wachs wasn't "Pushed Out".
One of you is probably right, but I'm guessing that it's only one.

Whenever I read something that sounds like it was written by the attorney from of one side of a buyout without any comment from the other side it usually means it was hostile. This is a classic bit of attorney trying not to sound like an attorney:

Quote:
Motorcycle Luggage Innovator Giant Loop® Emerges from Start-Up Challenges Positioned for Growth



Four-Year-Old Bend, Oregon Company Solidifies Management, Secures Working Capital Loan, Hires New Design Director



(Bend, Oregon, USA) After successfully navigating its four-year startup, Bend-based adventure motorcycle soft luggage innovator Giant Loop is on the road to sustaining continued growth. The company recently secured its first injection of working capital since it started in 2008, and co-founder Harold Olaf Cecil has taken full ownership of Giant Loop.


Company co-founder Dave Wachs recently sold his interest in Giant Loop and is pursuing other opportunities and interests. "Dave Wachs was an important part of Giant Loop's early success, and we wish him well," says Cecil.


Brian Frankle, founder, former owner and award-winning designer of a successful outdoor recreation equipment company, recently joined Giant Loop as Design Director. Frankle is a well-traveled adventure motorcyclist, who has ridden the Trans-America Trail across the US from east coast to west coast, using motorcycle soft luggage of his own design and creation.


“Giant Loop's future is wide open now," says Cecil. "To remain vital and competitive in the long-term, we have to accelerate the pace of innovation and brand penetration. With Brian Frankle leading new product development in his role as Design Director, and with the financial stability provided by securing funds through a Small Business Administration-backed working capital loan from Columbia State Bank, we are ready to take Giant Loop to the next level.”
Having been involved with this kind of process before and based on the hilighted sections, it sounds like Wachs got screwed. I hope that is not the case, but the line "pursuing other opportunties and interests" is classic lawyer speak for he's been forced out and we don't give a @#!*% what happens to him next. The quote "Dave Wachs was an important part of Giant Loop's early success, and we wish him well" reads like it was spoken through clenched teeth. If that is the case I'll be having my new luggage shipped in from Colorado even though I can hit the Giant Loop loading dock with a good 5 iron from my backyard.

And for the record, I've never met Wachs or Cecil and I do not own any motorcycle luggage yet.
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Old 09-19-2012, 03:35 PM   #8
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Partnerships can be a bitch. Wish you the best of luck Dave, just design a better mouse trap.
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Old 09-19-2012, 04:53 PM   #9
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best of luck to you Wachs
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Old 09-19-2012, 05:10 PM   #10
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Originally Posted by guns_equal_freedom View Post
Coming soon: Made in China
X2.

Just bought a tank bag for the KLR - very happy. Next time I'm down in the states will probably pick up a Mojavi (assuming they still make them in the states).
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Old 09-19-2012, 05:26 PM   #11
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As I said in another forum, Dave was Giant Loop and everything it stood for. Without Dave...

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Old 09-19-2012, 05:39 PM   #12
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[QUOTE=Rainshadow;19632624]One of you is probably right, but I'm guessing that it's only one.





"Having been involved with this kind of process before and based on the highlighted sections, it sounds like Wachs got screwed."


Yup. Good luck in the future Dave. We are all looking forward to what comes next from the inventor, engineer and designer of the all the Giant Loop gear.
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Old 09-19-2012, 05:57 PM   #13
linkweewee
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I read somewhere that REI will start carrying Giant Loop stuff this fall.
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Old 09-19-2012, 06:28 PM   #14
DirtRider....
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I better buy that gl bag I've been eyeing!!
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Old 09-19-2012, 07:35 PM   #15
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I've got a Great Basin Bag for sale if anyone is interested. White in color. I'll post pics later.
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