The surf industry as a whole is suffering. The king of surf clothing over the last 15 years, Quiksilver has been reporting record quarterly losses. And longboarding hasn't been legit in the eyes of the big-money sponsors since the late '90s. Oxbow made a push over the last two years to return the WLT to a level of respectability, but they're pretty much going it alone. They had talked about expanding the tour from two to possibly three or four events in 2009, but as of right now, talks are nil.
As the national economy teeters on the brink of Depression (depending on whom you talk to, we're already there), it's natural that most every industry would suffer. But in one viewed as a luxury and/or recreational, it hits pretty hard. Luckily, everyone still needs t-shirts, slippers and boardshorts, so most of the big companies are pretty safe. But in longboarding circles, where the sponsors are mostly boards and accessories, the dollars flowing are becoming fewer and fewer.
It should be a telling next 6 months.