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Jim Jenks

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BUSINESS
May 28, 1990
As a surfboard dealer in the early 1970s, Jim Jenks could plainly see how the fashion market had failed to cater to his clientele. Swim trunks did not fit surfers right. They crimped around their legs when they paddled out to catch a wave. The back seam was vulnerable to ripping out. Jenks' response was to design his own line of trunks specifically designed for surfing. The venture he co-founded would become known as Ocean Pacific Sunwear Ltd.
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BUSINESS
March 30, 1991 | CHRIS WOODYARD, TIMES STAFF WRITER
Top officials of Ocean Pacific Sunwear Ltd., one of the nation's largest surf-wear companies, on Friday denied allegations by its largest stake-holder that the company is "hopelessly insolvent." Elaine M. Ornitz, who owns more than 30% of the partnership that controls the Tustin company, alleged in a lawsuit that "nothing short of a sale" or a massive cash infusion could save the partnership from bankruptcy.
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BUSINESS
October 18, 1989 | MARY ANN GALANTE, TIMES STAFF WRITER
Ocean Pacific, the nation's leading surf-wear maker, has quietly been put up for sale, a company official confirmed Tuesday. Tustin-based Ocean Pacific Sunwear Ltd. has hired Goldman Sachs & Co. in Los Angeles to find a potential buyer, said Jim Jenks, OP's co-founder and vice president who holds about 27% of the privately owned company's stock. Jenks declined to disclose the selling price, but indicated that industry estimates of $90 million are too high.
BUSINESS
May 28, 1990
As a surfboard dealer in the early 1970s, Jim Jenks could plainly see how the fashion market had failed to cater to his clientele. Swim trunks did not fit surfers right. They crimped around their legs when they paddled out to catch a wave. The back seam was vulnerable to ripping out. Jenks' response was to design his own line of trunks specifically designed for surfing. The venture he co-founded would become known as Ocean Pacific Sunwear Ltd.
BUSINESS
March 30, 1991 | CHRIS WOODYARD, TIMES STAFF WRITER
Top officials of Ocean Pacific Sunwear Ltd., one of the nation's largest surf-wear companies, on Friday denied allegations by its largest stake-holder that the company is "hopelessly insolvent." Elaine M. Ornitz, who owns more than 30% of the partnership that controls the Tustin company, alleged in a lawsuit that "nothing short of a sale" or a massive cash infusion could save the partnership from bankruptcy.
BUSINESS
September 3, 1992 | Chris Woodyard / Times staff writer
Licensing Deal: Ocean Pacific Sunwear Ltd., the surf-wear titan of Tustin, has signed an agreement that makes Mitsubishi Corp. OP's master licensee in Japan. The 15-year agreement with the Japanese conglomerate is structured to give OP an up-front royalty fee of $2 million. The money will bolster OP's cash position as it prepares to file a reorganization plan in U.S.
BUSINESS
May 28, 1992 | DALLAS M. JACKSON
Corporate headquarters: Tustin Officers: Jim Jenks, founder and chief executive officer; Michael G. Balmages, senior executive vice president and general counsel; Jess Meyers, chief financial officer. Business: Licenser of active sportswear labels for adults, teen-agers and children History: 1972 -- Company founded.
BUSINESS
April 2, 1992 | Chris Woodyard / Times staff writer
Ocean Pacific Sunwear Ltd. has hired its consultant as chief executive officer. A press-shy Lee Katz took over Friday, with company co-founder Jim Jenks promoted to chairman. Katz will handle the Tustin apparel licenser's day-to-day operations while Jenks will concentrate on developing new products, the company said. Katz arrives in the wake of a failed deal by the privately held surf wear maker to sell itself to a Menlo Park investment group.
BUSINESS
September 13, 2002 | LESLIE EARNEST, TIMES STAFF WRITER
A local surf wear company is about to find out just how far guys will go to indulge their passion for vintage retro-wear. Ocean Pacific Apparel Corp., the Irvine company that caught fire 30 years ago with its corduroy shorts for young men, is increasing production and distribution of the shorts for a new generation. Even company executives concede it's a longshot. At a time when shorts have grown longer and baggier, the 1970s-style Op shorts are short and snug.
BUSINESS
March 30, 1991 | CHRIS WOODYARD, TIMES STAFF WRITER
The biggest stake holder in Tustin-based Ocean Pacific Sunwear Ltd. has sued the surf-wear company for fraud, contending that it is "hopelessly insolvent." OP officials Friday insisted that the company is healthy. Elaine M. Ornitz, who owns more than 30% of the partnership that controls the company, alleged in a lawsuit that "nothing short of a sale" or massive cash infusion can save the partnership from bankruptcy.
BUSINESS
October 18, 1989 | MARY ANN GALANTE, TIMES STAFF WRITER
Ocean Pacific, the nation's leading surf-wear maker, has quietly been put up for sale, a company official confirmed Tuesday. Tustin-based Ocean Pacific Sunwear Ltd. has hired Goldman Sachs & Co. in Los Angeles to find a potential buyer, said Jim Jenks, OP's co-founder and vice president who holds about 27% of the privately owned company's stock. Jenks declined to disclose the selling price, but indicated that industry estimates of $90 million are too high.
BUSINESS
February 25, 1992 | CHRIS WOODYARD, TIMES STAFF WRITER
Four days before the sale of Ocean Pacific Sunwear Ltd. was supposed to close, the Tustin surf wear supplier said it has broken off talks with the potential buyer and that the company is no longer for sale. In a statement Monday, OP said it broke off talks with Sequoia Associates Ltd., a Menlo Park venture capital firm that had reached a tentative agreement to buy OP last month. Financial terms of the deal were never disclosed.
BUSINESS
May 6, 1992 | CHRIS WOODYARD, TIMES STAFF WRITER
The new chief executive officer of Ocean Pacific Sunwear Ltd., Orange County's largest designer and licenser of surf wear, has departed after only a month on the job, the privately owned company confirmed Tuesday. Lee Katz, a financial consultant whose appointment to OP was announced April 1, decided to leave by "mutual agreement," said OP lawyer Michael Balmadges. His last day was April 24. Another top OP official has also left.
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