Atlantic Technology announced this week that it is launching a new line of home theater and music speakers, including a unique product they call a “front-stage” speaker which resembles a traditional soundbar, but is passive. All models are based on the same drivers, so that whether used separately or together, the sound is fully timber-matched for consistent imaging and sound quality.
Moody’s Downgrades Gibson Brands Credit to Junk
Gibson Brands CEO Responds to Moody’s Downgrade
The music industry is positively buzzing about the announcement late last week by Moody’s Investors Service that, for the second time in three months, it has downgraded the credit rating of Nashville, Tennessee-based Gibson Brands. Gibson (formerly Gibson Guitars) is a tightly held private company that launched an aggressive diversification strategy a few years ago, focusing on acquiring several consumer electronics brands such as Onkyo Corp. and Teac, Corp. and recently Philips.
Now Moody’s suggests the debt used to acquire these brands is dragging the company down… [Read more…] about Moody’s Downgrades Gibson Brands Credit to Junk
After Big Setback, Sharp-Foxconn Deal Expected Soon
Newly Discovered Liabilities Nearly Derail Deal
In what most Japanese media are calling a due diligence blunder, a potential deal for Hon Hai Precision Industry, better known as Foxconn, to buy Sharp Corp. was nearly scuttled when over $3 billion in potential additional liabilities suddenly came to light. The development caused Foxconn to pull back and, ultimately, launch an even deeper and more detailed analysis of the opportunity.
With talks back on track, a deal is now expected by March 31st… [Read more…] about After Big Setback, Sharp-Foxconn Deal Expected Soon
Thiel Audio Makes Retroactive CEO Announcement & More
Third CEO Since Acquisition Three Years Ago
On Monday of this week, Thiel Audio Products, Inc. unexpectedly announced that it has hired a new CEO for the organization. This announcement appears to refer to the CEO we previously told you about back in October 2015, although the release announces his appointment retroactively, effective January 15, 2016.
See more about who Thiel’s new CEO is, and their statement about what’s next… [Read more…] about Thiel Audio Makes Retroactive CEO Announcement & More
Yet Another High-End Brand Turns to Internet Sales, But This Time’s Different
This Time Brand Takes Local Dealers With Them
Raleigh, NC-based Cary Audio announced this week that they will allow their high-end specialty electronics line to be sold online. At first blush, this looks like yet another specialty brand disrupting their bricks-and-mortar dealer base in favor of powerful online dealers – much like our recent story on McIntosh Labs doing just that. But this time, Cary took a completely different approach – one that takes their local dealers along with them.
See how Cary built an entirely different program in going online… [Read more…] about Yet Another High-End Brand Turns to Internet Sales, But This Time’s Different
In Eye of Storm, McIntosh Hit with Management Shake-Up
BREAKING NEWS
We have learned through multiple sources that McIntosh Labs, the high-end American brand that was thrust into the limelight recently when it came to light that the company was authorizing internet sales of its specialty brand, has experienced a bit of a management shake-up. Specifically, two top executives have resigned their positions at the company in just the last few days.
See what we’ve uncovered about this change at McIntosh… [Read more…] about In Eye of Storm, McIntosh Hit with Management Shake-Up
Federal Government Hits B&H Photo Video with Discrimination Lawsuit
Last week the U.S. Department of Labor filed a lawsuit against B&H Photo Video, accusing the major New York retailer of discriminatory practices. This lawsuit is said to be the second time in nine years the owners of B&H have run afoul of the government.
See the surprising and disturbing contents of the case against B&H… [Read more…] about Federal Government Hits B&H Photo Video with Discrimination Lawsuit
Nortek Fiscal 2015 Q4 & Full Year Results are Mixed; AVC is Still Sliding
Nortek, Inc., a diversified manufacturer that through its Core Brands division markets several brands in the custom integration channel, released this week its fiscal 2015 fourth quarter and full year results. Overall, the results were mixed, as the company continues to struggle through a huge consolidation and experience shifts in its sales mix.
But one thing that remains clear is that their AVC segment, the segment that contains the Core Brands businesses, is continuing to struggle with a dramatic sales decline (27.1% decline in the quarter – 20.5% sales decline for the year) and increased losses ($20.8 million loss for the year as compared to a $19.2 million loss for 2014, ).
See more on the continuing struggles at Nortek… [Read more…] about Nortek Fiscal 2015 Q4 & Full Year Results are Mixed; AVC is Still Sliding
ResiWeek #4 Talks McIntosh, Sharp, & Control
We participated this week in ResiWeek, a new podcast centered on the residential integration market from the good folks over at AVNation.tv. Hosted by Tim Albright, guests this week included CEDIA’s Vin Bruno, Clare Controls’ Delia Hansen, and Strata-gee editor Ted Green. Topics included many hot stories of the day, including: McIntosh’s decision to sell products online, Clare Controls scoring a big deal with a builder, and the continuing drama at Sharp.
Check it out below…
ProSource Launches Member Portal
ProSource, a national retail buying group, announced today that they have launched an all-new member services portal for their participating dealers. A web portal – or simply portal – is a customized website that typically offers access to an array of non-public data, often pulled from separate sources. In the case of the new ProSource portal, the group says that it serves up “information, services and tools designed to strengthen and grow member business.”
