Going Public on Wall Street

The roller coaster of Wall Street and the recent stock market swings made me think of taking my company public in 1995.

I was partners with Boyd Coddington, the legendary hot rod builder of Southern California. Together we owned Hot Rods by Boyd, Boyds Wheels, Boyds Ultra Violet Car Care, Boyds Metal Tattoos motorcycle wheels and Boyds Shop Rags apparel. We had partnered just after his first big success with the ZZ Top CadZZilla. I had just left Vision Street Wear, a company I helped grow from $10 million to $120 million in five years. I parlayed my success and earnings in the action sports industry into Boyds. Boyd and I had a great business relationship, both of us car guys, businessmen and conceptual designers (we could see it in our heads, but unable to draw). I realized how marketable the Boyd brand could be and how the craftsmanship of the American hot rod was ready to be recognized. Five years later, I structured an I.P.O. and followed that with a secondary offering.

This offering on NASDAQ saw a hot rod builder on Wall Street, a first for sure. I also helped to usher in some other firsts, such as color gate folds in the red haring offering book. Our products were so visual, I felt it was necessary and the brokers informed me that it had never been done. After I insisted, they agreed and it was a huge success, now used in many offerings.

It was challenging growing a business, overseeing the all-hands meetings, making sure the offering was perfect and then leading the dog and pony shows around the country for this institutional offering. It was rewarding and worth it, Boyd and I certainly were happy when it was completed. We were one hell of a team and made hot rod history together in so many ways.