Welcome to Industry Focus, the podcast it dives into a different sector of the stock market every day.

I'm your host, Vincent Shen and it is Tuesday, December 6th, and for this episode I am happy to welcome fool.com contributor Seth McNew to the show.

He is joining us via Skype from Denver, Colorado, I believe.

You can never be sure with Seth since you do so much traveling.

How are you man?

Good, I'm good.

Thanks not for having me back.

So how many places have you been to in the past week, two weeks, month,

how many places have you traveled to?

I do do a bit of traveling.

I think in the last month I've probably been in,

I don't know, maybe six or seven cities, I guess.

There you go.

I'm quite envious with all the but all college towns right?

Yeah I mean I mean last this last week I was in Minneapolis at the University of

Minnesota so college town but you know that's still a city.

Yeah absolutely so getting to the main topic for our show today, I want to talk a little bit about dual share class structures after seeing the news last week that Under Armour would be changing up its ticker symbols.

And after covering some of the, I guess oddities that have come about as a result of their two share, three share classes actually we can talk more about the

ultimate I think implications for investors and look some of the more interesting

developments in the sports apparel industry that would seem to buck the trend

of what I think a lot of people associate with retail.

So Seth, why don't you kick us off?

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