Ed Stack

“After Parkland in 2018, where the shooter had bought a shotgun at Dix, Ed made a decision that would cost at least two hundred and fifty million dollars annually. No more assault rifles. No firearms to anyone under 21. They destroyed five million dollars in ex…”

“Instead of cashing out like most executives, Ed bought in. He purchased 80,000 additional shares in the IPO with his own money.”

“Dick's became one of Under Armour's first major retail partners. When other stores wouldn't give the unknown brand any shelf space, Ed gave them prominent placement.”

“Ed went back to GE Capital and borrowed sixty million to buy out 60% of the venture capital stakes.”

“I will always be a little paranoid and insist that we finance all we do from our own earnings. It seems to me that's the only way to control your own destiny. The banks can't take away your business if you don't owe them any money. So we carry no long-term deb…”

“In 1996, Mike Hines told Ed They'd be out of money next month. They owed thirteen million dollars they didn't have. The banks wouldn't restructure the debt, and the venture capitalists wouldn't put in more money until the banks restructured.”

“Six million dollars hit Dick's bank account in 1991. It came from venture capitalists who'd built Office Depot and PetSmart, who'd funded Staples, who knew how to turn small regional players into national powerhouses. Ed Stack had spent months negotiating with…”

“Larry Shore, the young lawyer structuring the deal, suggested a two-class stock arrangement. Ed would get 51% of the voting shares. Ed would have control. His siblings would get equal equity stakes, but not have control over operations.”

“Mike Rich from Woolridge would quote 40 dollars for closeouts, and Ed would counter with 15, and Mike would usually say yes, not because he had to, but because he wanted to help this kid succeed.”