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

Santa Clarita CA
Today in
S.C.V. History
August 24
1974 - Pyramid Lake opens to the public [story]
Pyramid Lake

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.


You can be the first one to leave a comment.

Leave a Comment

Latest Additions to SCVNews.com
1974 - Pyramid Lake opens to the public [story]
Pyramid Lake
Extending double-tracking and upgrading the Santa Clarita train station platform in Saugus are among the proposed infrastructure improvements to the Metrolink Antelope Valley Line approved by the Los Angeles County Metropolitan Transportation Authority on July 25.
Metrolink Upgrades to Include More Double-Tracking in Saugus
Corporate defendants Santa Clara Waste Water Company and Green Compass Environmental Solutions, LLC were sentenced to three years' formal probation and ordered to pay restitution to victims of a November 2014 hazardous waste explosion in Santa Paula.
Waste Companies Sentenced in Santa Paula Explosion
The JetHawks were unable to complete a sweep of the Inland Empire 66ers after they fell in the series finale, 3-2, on Thursday night at San Manuel Stadium.
Sixers Come Back to Spoil JetHawks Sweep
The Greater Los Angeles County Vector Control District has confirmed seven additional samples of mosquitos testing positive for West Nile virus, or WNV.
County Finds More West Nile Virus-Positive Mosquitos
A 36-year-old Santa Clarita mother of five children survived a heroin overdose Thursday, revived by Santa Clarita Valley Sheriff's Station deputies armed with Narcan.
Santa Clarita Mother of 5 Survives Heroin Overdose
A year after jurors failed to reach a verdict in the case of a former Disney executive charged with engaging in lewd acts with a child, a brand new jury is scheduled to hear closing arguments in the man’s retrial on the same charges.
Closing Arguments Due Monday in Child Sex Case Retrial
Santa Clarita has seen significant trends in its housing market and population demands over the last 20 years, and with a continued need for expansion across California cities, the time has come to update its housing production goals in order to comply with state requirements.
Santa Clarita Aims at State Housing Goals
Deputies from the Santa Clarita Valley Sheriff's Station handed out 74 citations in a bicycle and pedestrian safety operation Thursday morning.
SCV Deputies Cite 74 in Bike, Pedestrian Operation
1963 - First stretch of Antelope Valley 14 Freeway opens from east of Solemint Junction in Canyon Country to Red Rover Mine Road in Acton. [story]
AV Freeway
The JetHawks got on the board with four runs in the first inning and went on to beat the Inland Empire 66ers, 10-5, on Wednesday night at San Manuel Stadium.
JetHawks Cruise to 4th Straight Win
SACRAMENTO – The California Transportation Commission (CTC) allocated more than $1.1 billion for a total of 133 State Highway Operation and Protection Program (SHOPP) projects throughout California, including almost $994 million for 47 fix-it-first projects funded by Senate Bill 1 (SB 1), the Road Repair and Accountability Act of 2017.
SB 1 Funding Allocates Nearly $315M to LA County Highway Projects
S.T.R.E.A.M (Science, Technology, Reading, Engineering, Arts, and Manufacturing) Kids Expo, a local nonprofit that wants to prepare kids today to face the challenges of tomorrow, will host a Kids Conquer Challenge, Saturday, Aug. 24, from 8:00 a.m. - 11:00 a.m., at the former Sears parking lot.
Aug. 24: Kids Conquer Challenge
This week, LBW Insurance and Financial Services was deemed one of the Best Places to Work in Los Angeles by the Los Angeles Business Journal.
Valencia-Based Insurance Agency Named Among Best Places to Work in LA
The Michael Hoefflin Foundation is currently accepting auction item donations for its 26th Evening Under the Stars Gala Dinner & Charity Auction on Sept. 21.
Michael Hoefflin Foundation Accepting Donations for Annual Gala
California Credit Union is inviting all Los Angeles area teachers who have a great class project idea to apply for a credit union grant through its bi-annual Teacher Grant Program.
LA County Teachers Encouraged to Apply for Credit Union Class Project Grant
Santa Clarita residents are invited to bring their unwanted household hazardous and electronic waste to the free Household Hazardous/E-Waste Roundup on Saturday, Aug. 24.
Aug. 24: Free Household Hazardous/E-Waste Roundup
A total of 263 single-family homes changed owners during July, an increase of 22.3 percent from a year ago and the highest monthly total since June 2018, the Southland Regional Association of Realtors reported Tuesday.
SCV Home Prices Up 5% on Year; Low Interest Rates Spike Sales
Henry Mayo Newhall Hospital is expanding the services it offers at its community Health Fairs.
Aug. 23: Henry Mayo Brings Health Fair to Newhall Community Center
The Los Angeles County Fire Department (LACoFD) is pleased to announce the successful addition of three new pieces of basic life support (BLS) equipment to its inventory:
LACoFD Adds New Basic Life Support Equipment to Inventory
The city of Santa Clarita is seeking community feedback on a public safety grant proposal for the U.S. Department of Justice’s Edward Byrne Memorial Justice Assistance Grant (JAG) Program.
City Seeking Community Feedback on Public Safety Grant Proposal
During the Wednesday night board meeting, Deputy Superintendent Mike Kuhlman was named the superintendent-elect after it was made known that Vicki Engbrecht was stepping down from the position at the end of the 2019-20 school year.
Hart District Names Mike Kuhlman Superintendent-Elect
One person was transported to a nearby hospital after a vehicle rammed a parked car into a home’s garage Thursday afternoon.
Driver Crashes Parked Vehicle into Home’s Garage
For more than 200 chronically ill patients in the San Fernando and Santa Clarita valleys, doctors make house calls.
Study: Facey’s Palliative Care Program Helps Improve Patients’ Quality of Life
%d bloggers like this: