[Sign Up Now] to Receive Our FREE Daily SCVTV-SCVNews Digest by E-Mail

Inside
Weather
Santa Clarita CA
Mostly cloudy
Mostly cloudy
59°F
 
Calendar
Today in
S.C.V. History
December 9
1983 - U.S. release of John Carpenter's "Christine;" blew up fake gas station in Valencia [watch scene (R)]


SAN DIEGO – A group of investors working with Johnson Fistel, LLP, The Concerned Shareholders of Big 5 Group (the “CSB5 Group”) believes these are desperate times for Big 5 Sporting Goods Corporation. Shares are now trading at all-time historic low prices.

The CSB5 Group has proposed that Big 5’s board of directors (the “Board”) consider Mel Redman (former Wal-Mart senior executive) and Jeff Moore (former Vans senior executive) to fill the two vacant seats on the Board. To date, the Board has not agreed to even consider them as candidates. If you are a shareholder and want to help save Big 5, please visit www.SaveBig5.com or provide your information below.

Click [here] to provide your contact information.

The CSB5 Group’s most recent correspondence to the Board follows:

As stated previously, I am working with a group of investors (the “Group”) with extensive experience in the retail industry who have taken a stock position in Big 5 because they believe there is significant opportunities to increase shareholder value as Big 5 is deeply undervalued, especially considering its earning potential. As we have discussed previously, the members of the Group wanted to meet with the Board to discuss their ideas that could save Big 5 before it’s too late. The members requested the Board agree to a confidentiality agreement pursuant to which their identities would not be disclosed to the public. The Board declined.

Shares of Big 5 are now trading at all-time historic low prices and the Company recently warned that it will suffer losses through the holiday-season. We believe these are desperate times for Big 5 and again renew our request that the Board meet with the Group and consider them as candidates to fill the vacant Board seats. Toward that end, they have agreed to provide you with their background.

Mel Redman has nearly 50 years of experience in the off-price retail industry and would be an extraordinary addition to the Board. He had a distinguished career with Wal-Mart Stores, Inc. Starting in 1976, he served in a variety of management positions. Then served as Senior Vice President, Store Planning and Operations Systems – responsible for 4 Regional Vice Presidents, 57 District Managers, 427 Store Managers, and 180,000 Associates who generated $20 billion (U.S.) in annual sales. From 1990 to 1994, as Senior Vice President US Store Planning and Operations Systems, Mr. Redman was responsible for all phases of the store development process including new stores, relocations, expansions, and remodeling including merchandise, fixtures, planning, budgeting, recruiting, and training associates with 2,000 Wal-Mart, Supercenter, and Sam’s Wholesale Club initiatives. Mr. Redman has also served on the Board of Directors of Modell’s Sporting Goods, MSC Industrial Supply, Knoodle Kidoodle Toys, Little Giant Ladder Co., and Win-Holt Mfg.

Jeff Moore also has extensive retail experience, particularly in the shoe industry. His experience and insight into the retail shoe industry would be an ideal addition to the Board. From July 2005 through August 2010, Mr. Moore was the Executive Vice President and a Director for Vans. In August 2010 through February 2018 he was the Global President for REEF.

Scott P. MacDonald is also a member of the Group with decades of retail experience. More specifically, Mr. McDonald is a retail-operations executive accomplished at creating revenue opportunities, designing process improvement and efficiencies, and inspiring innovation and engagement in complex organizations. From 2007 through 2017 he had several executive positions, including Vice President, at Dressbarn, Inc. where transformed operations of 50+ year old, stagnant retailer into a forward looking, efficient organization focused on identifying sales opportunities and constantly driving operating efficiencies. From 1994 through 2007 he has held executive of director positions at other retail stores such as Ollie’s Bargain Outlet, Inc. and Factory 2-U Stores, Inc.

As you know, I am also a member of the Group and the managing partner of Johnson Fistel, LLP, a nationally recognized law firm for creating corporate governance reforms at publicly traded companies. Prior to forming my own law firm in 2004, I was a partner at Sheppard, Mullin, Richter & Hampton, LLP, an 800-lawyer international law firm. In its March 2018 edition, San Diego Magazine recognized me as one of the Top Lawyers in San Diego. Each year, San Diego Magazine compiles a list, based on peer reviews, of local lawyers who have reached the highest levels of ethical standards and professional excellence. This year, I was one of only six lawyers in Complex Litigation in San Diego the magazine listed. I received his Juris Doctor degree from Washington University School of Law in 1994, where he was in the top 10% of his class while in attendance. I received my Bachelor of Science degree in Business Administration with an emphasis in Finance from San Diego State University in 1990, where I graduated second in my class major, with honors and summa cum laude.

We believe the Group’s experience can add great value to the Based, particularly in its current predicament. In addition, based upon our review of the biographical background of the current members of the Board, there is a lack of retail experience. We believe that there are several opportunities that the Company is missing, as alluded to in prior correspondence. The addition of Mr. Redman and Mr. Moore to the Board could have momentous and remarkable returns for the benefit of the Company.

Kindly let me know if the Board will entertain a discussion with any members of the Group concerning filling the vacant Board seats, improvements to the corporate governance, or our ideas on how to help turn the Company back to a prosperous company.

About Johnson Fistel, LLP:
Johnson Fistel, LLP is a nationally recognized law firm with offices in California, New York, and Georgia. For more information about the firm and its attorneys, please visit https://www.johnsonfistel.com.

If you are an individual or institutional investor that is unhappy with the Company’s direction and are interested in assisting the Group, please call 619-814-4471, or click here to provide your contact

Comment On This Story
COMMENT POLICY: We welcome comments from individuals and businesses. All comments are moderated. Comments are subject to rejection if they are vulgar, combative, or in poor taste.
REAL NAMES ONLY: All posters must use their real individual or business name. This applies equally to Twitter account holders who use a nickname.

0 Comments

You can be the first one to leave a comment.

Leave a Comment


Latest Additions to SCVNews.com
1983 - U.S. release of John Carpenter's "Christine;" blew up fake gas station in Valencia [watch scene (R)]
1941 - Julius Dietzmann family of Castaic arrested as German enemy aliens [story]
Valencia-based H2scan has announced the Gen 5 System, a first of its kind hydrogen sensor package to help utilities monitor and protect their distribution transformers.
Valencia’s H2scan Unveils New Transformer Monitoring System
CalArts graduates are among the nominees for Golden Globe Awards the Hollywood Foreign Press Association announced on Monday, recognizing excellence in domestic and foreign film and television.
CalArtians ‘Glow’ in 76th Golden Globes Nominations
The California Department of Education and the State Board of Education have launched the second version of the California School Dashboard, a website that gives parents, students and educators access to valuable school and district data.
State Launches 2018 School Dashboard; Hart Schools Score Well
The TMU Mustangs played a dominant defensive effort Thursday, holding Hope International scoreless in the third quarter of what became a 76-47 win.
TMU Women’s Basketball Team Nets Win Over Hope Int’l
The nonprofit Friends of Hart Park, in cooperation with the Los Angeles County Department of Parks and Recreation, will present the 7th Annual Hart Holiday Boutique & Craft Fair at Hart Park on Saturday and Sunday, Dec. 8-9, from 10 a.m. to 4 p.m. each day.
Dec. 8-9: Holiday Boutique, Craft Fair at Hart Park
The Los Angeles County Board of Supervisors will hear comments from the public about the proposed Centennial Specific Plan Project at their next meeting on Tuesday, Dec. 11, starting at 9:30 a.m.
Dec. 11: Supes May OK Centennial at Tejon Ranch Development
The next meeting of the Los Angeles County Board of Supervisors is set for Tuesday, Dec. 11, starting at 9:30 a.m.
Dec. 11: LA County Board of Supervisors Meeting
Castaic School Board members held their Annual Organizational Meeting on Dec. 6, and elected officers and representatives of the Board for 2019.
Castaic School Board Elects Officers, Reps for 2019
Los Angeles County District Attorney Jackie Lacey announced Friday that Amazon.com Inc. has agreed not to sell force-fed foie gras in California under a consumer protection settlement reached with her office and the Monterey County and Santa Clara County district attorney’s offices.
DA’s, Amazon Settle Force-Fed Foie Gras Online Sales Case
People with mental health issues and dementia who are released from Los Angeles County jails will be given medications and connections to organizations that can keep them from becoming homeless, according to an update of a settlement agreement reached Thursday.
LA County Agrees to More Mental Health Help for Inmates
California Highway Patrol officials have determined Ventura County Sheriff's Sgt. Ron Helus died after he was struck by a bullet from a CHP officer's weapon during the Borderline Bar shooting in Thousand Oaks Nov. 7.
CHP: Ventura Sheriff Sgt. Killed by Friendly Fire in Borderline Shooting
California Attorney General Xavier Becerra has joined a bipartisan working group of 40 state attorneys general seeking to end illegal robocalls, he announced Friday.
State AG’s Push Feds to Stop Robocalls
The Los Angeles Homeless Services Authority has put out a call for volunteers to help count homeless individuals in the Santa Clarita Valley on Wednesday night, Jan. 23.
Jan. 23: Volunteers Sought for SCV Homeless Count
The Santa Clarita City Council will hold its next meetings at City Hall on Tuesday, Dec. 11.
Dec. 11: Re-elected City Council Members, New Mayor to be Sworn In
The Santa Clarita Valley Chamber of Commerce is pleased to announce the addition of four new board members joining the 2019 Board of Directors
SCV Chamber of Commerce Adds 4 to Board
Santa Clarita Valley Sheriff' Station deputies arrested a North Carolina man on felony and misdemeanor drug charges in Castaic Thursday morning.
North Carolina Man Arrested on Drug Charges in Castaic
As holiday shoppers crowd store and mall parking lots, the California Department of Motor Vehicles reminds Californians to “Save the Space” designated for disabled individuals who legally display disabled person parking placards.
DMV: ‘Save the Space’ for Holiday Shoppers with Disabilities
1921 - William S. Hart marries actress Winifred Westover [story]
Despite affordability challenges, California renters continue to hold homeownership in high regard and aspire to purchase a home eventually, according to a consumer survey recently released by the California Association of Realtors (C.A.R).
Survey Finds CA Renters Still Have High Regard for Homeownership
Santa Clarita-based landscaping firm Stay Green, Inc. has been recognized in a statewide competition, bringing home three first-place awards and an Outstanding Achievement award for maintenance projects big and small.
Local Landscape Firm Recognized in Statewide Competition
SAN DIEGO - A group of investors working with Johnson Fistel, LLP, The Concerned Shareholders of Big 5 Group (the "CSB5 Group") believes these are desperate times for Big 5 Sporting Goods Corporation.
Investors Make Play for Big 5 Sporting Goods Chain
Sarah Delawder, currently an assistant principal at Valencia High School, will become the assistant principal at Castaic High School.
Hart District Names Assistant Principal for Castaic High School
Because of the recent rainfall, Los Angeles County Health Officer, Muntu Davis, MD, MPH, is cautioning residents who are planning to visit Los Angeles County beaches to avoid swimming, surfing, and playing in ocean waters around discharging storm drains, creeks, and rivers.
Advisory Issued for all LA County Beaches Until Sunday
NORTHRIDGE - Sophomore Terrell Gomez posted a career-high 26 points to go with five 3-pointers while senior Blair Orr registered a career-best 15 points and six rebounds as CSUN Men's Basketball (3-5) defeated Cal State San Marcos, 76-72, on Wednesday evening at The Matadome.
Sophomore Gomez Propels Matadors to Victory
NORTHRIDGE - CSUN returns home for a pair of women's basketball games this week. The Matadors get the action underway Friday night when CSUN welcomes Loyola Marymount.
Matadors Return Home to Host LMU, SDSU
To help lower the risk of possible natural gas and electricity shortages this winter, Southern California Gas Co. (SoCalGas) recently announced the launch of a new energy conservation alert program designed to raise awareness about ways Southern Californians can reduce their natural gas use during periods of cold weather this winter.
SoCalGas Encouraging Customers to ‘Dial it Down’ with New Alert Program
The CalArts School of Theater production, Through the Leaves," directed by Brittney Brady (BFA 20), opens on Thursday, Dec. 6, and runs through the following Thursday, Dec. 13.
Dec. 6-13: CalArts School of Theater Presents ‘Though the Leaves’
The Governing Board of the Castaic Union School District will hold an organizational meeting Thursday, Dec. 6, at 6:00 P.M. in the Board Room of the district office.
Dec. 6: CUSD Governing Board Organizational Meeting
The California Department of Resources Recycling and Recovery (CalRecycle), in coordination with Los Angeles County Public Works, will provide debris removal for homes destroyed by the Woolsey Fire at no cost to property owners and residents.
County Public Works to Provide Free Woolsey Fire Debris Removal
Princess Cruises recently announced that it is now preparing Regal Princess as the second ship fully activated with Princess MedallionClass experiences that are currently delivering enhanced and personalized cruise vacations to guests onboard Caribbean Princess.
OceanMedallion Interactive Device Expands to Regal Princess
Officials at California State University, Northridge, released a statement Wednesday regarding graffiti that was found in one of the buildings on campus - graffiti that included a threat of a mass shooting and hate symbols.
CSUN Responds to Mass Shooting Threat, Hate Symbols Found on Campus
The U.S. Forest Service will soon start annual prescribed burning operations on the Angeles National Forest to reduce the risk of wildfire and protect the communities within and adjacent to the forest.
Forest Service to Begin Prescribed Burning Operations
1864 - Actor William S. Hart born in Newburgh, New York [Hart Index]
The city of Santa Clarita is set to honor the memory of Fereydoon Ghaffari, designer of Valencia's first pedestrian walkways, at the Parks, Recreation and Community Services Commission's meeting in Council Chambers at City Hall on Thursday, Dec. 6.
Dec. 6: City to Honor Man Who Pioneered Valencia Walkways