The annual Waterfront Film Festival, a prestigious independent film event, kicks off Thursday in downtown Saugatuck with an opening-day block party, where a documentary will be shown outdoors at dusk.

The family-friendly “Surfing 50 States” is the real-life story of two Australians’ efforts to surf in every U.S. state. The film had its world premiere in October 2008 in Sydney, Australia.

The viewing is included in the $5 admission to the block party, to be held at the parking lot of the Singapore Yacht Club, 40 Butler St. (Three-day pass-holders get in for free). Live entertainment and food are also on tap for the night’s festivities.

In addition, more than 30 films will be screened during the remaining days of the festival, which are from Friday through Sunday, and tickets are required. For a complete listing of films, screening locations and ticket information, visit www.waterfrontfilm.org or call (269) 857-8351.

Seminars will also be held.

Among the stars expected to attend this year’s fest are Daryl Hannah and Western Michigan University graduate actor/comedian Skyler Stone (“Comedy Central”), both of whom are promoting new films.

Stone is pumping “Bed Ridden,” a 25-minute comedy about addiction based on a true story, which will be shown twice. Show times are 7 p.m. Saturday at the Saugatuck Center for the Arts, 400 Culver St., and 4:30 p.m. Sunday at the American Legion Hall, on Mason Street off Butler, as part of the Comedic Shorts Program.

“Fierce Light,” a documentary about spiritual activism in which Hannah, Bishop Desmond Tutu and others are interviewed, is one of the Gala Films highlighted at 7 p.m. Friday at Saugatuck Yacht Services. It repeats at 11:30 a.m. Saturday at the same site.

Beautiful summer sunshine and improved surf conditions greeted the world’s best longboarders for the final day for ASP LQS 2-Star event, the Real B Voice Longboard Pro Taito presented by Kaido, today. The packed audience showed up at Taito Beach to witness the high-performance action.

The surf conditions at Taito, Isumi City, Chiba, Japan today were two-to-three foot (1 metre) with onshore winds, but the winds did not stop the highest caliber of action as the final day started with the Round of 32 as the top-seeded surfers went straight to action. As the event went into the final rounds, reigning ASP World Longboard Champion Bonga Perkins took on Christian Wach in the 30-minute Final with soft onshore winds two-to-three foot beachbreak waves made a great Final heat this afternoon at Taito beach in Chiba, Japan.

Perkins showed high-performance en route to his winovers North America young gun Christian Wach (USA).

Domestic longboarders also went straight to action as 2008 ASP Japan Tour top ranked Nobuhiro Ogashira (JPN) has always shown the world with his classic style nose ridings to blend to excellence.

The ever best young guns including Taiki Mori (JPN) showed high action and showed they are ready for the coming era for the coming years.

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Quiksilver’s stock fell 18 percent in early morning trading as investors worried about the high interest rates on its new financing agreements and other issues regarding its liquidity.

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Shares of Quiksilver Inc., which makes outdoor clothing and equipment, fell more than 18 percent early Tuesday as analysts worried about its near-term prospects after it took new loans at higher interest rates.

“We view progress on the refinancing of the business as a positive and see a light at the end of the tunnel for near-term liquidity concerns,” Thomas Weisel Partners LLC analyst Jim Duffy said in a research note. “The cost of financing, however, is daunting.”

Quiksilver is taking a $150 million over five years from Rhone, a private-equity firm, and has secured a $200 million credit facility.

Duffy said the $150 million loan comes with a 15 percent interest rate and gives the private-equity firm warrants for 20 percent of the shares priced at $1.86.

The analyst said interest payments are expected to cost the company $110 million per year. Duffy suspended the firm’s rating on Quiksilver shares until the company finishes all refinancing.

The company still need to renegotiate certain uncommitted lines of credit in Europe, Wedbush Morgan Securities analyst Jeff Mintz told investors.

Monday, Huntington Beach, Calif.-based Quiksilver reported a fiscal second-quarter profit of $2.8 million, reversing a year-ago loss of $206.2 million that included hefty costs related to now-discontinued operations. But a weak outlook sent shares lower in aftermarket trading.

Its shares tumbled 67 cents to $2.95 in Tuesday morning trading.

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