Did anyone see the new Billabong CEO?  

Not exactly what I would have expected.  
Surfie? No  
Aussie? No

Under 50? No
Cool and Funky? No

She has only been in the role for a few months so can't yet be blamed for the terrible financial results of the company that just posted a $274m loss.

BILLABONG has revealed it will close 82 more stores as it unveiled an unexpectedly large $275.6 million loss after booking more than half a billion dollars in asset write-downs and restructuring costs.  Why?

On the ABC tonight they were discussing the focus of the business on its massive retail expansion in the United States. Sure the business was the victim of bad timing (The GFC hit shortly after), but the ABC said if it wasn't for the lack of a business plan for this expansion, perhaps things might have ended differently.

Not only was the GFC and issue, but the lack of a clear operational plan and clear proven business model for the retail expansion was missing.  Core technology for processing payments provided significant practical issues at the store level.

It's not ok not to have a business plan.  Times are tough but planning can avoid massive cost blow-outs.

Some times...in fact usually, its better to think first and act later!