On Tuesday, the Associated Builders and Contractors (ABC) held a webinar for the media called the 2012 Mid-Year Construction Forecast with presentations from some of the most powerful industry-related economists with fresh data and forecasts…and some surprises.
Economic Trends
Housing Starts – Start of a New Trend?
The Commerce Department on Tuesday released the latest report on the residential construction market – a key economic indicator for the custom integration market – and…as you might suspect with this uneven recovery we are in…the data showed yet another zag after last month’s zig. Total residential housing construction starts for the month of May were 708,000, down 4.8% from the revised April level of 723,000 units.
But the news wasn’t all bad… [Read more…] about Housing Starts – Start of a New Trend?
Don’t Worry About the Top 1% or the Bottom 99% – Worry About the Middle 60%
A new report from the Federal Reserve Board shines the light on why the economic recovery is so anemic – middle income families got hit the hardest in the recent financial industry collapse in 2007-2010. And with an economy that is 70% based on consumer spending…this is troubling news for those involved in selling consumer goods and services – such as the consumer electronics industry.
[Read more…] about Don’t Worry About the Top 1% or the Bottom 99% – Worry About the Middle 60%
Sony Slaps Senior Execs – Makes Them Give Back Pay
In a public move that will probably make more sense in Japan than it will here, Sony Corp. said on Tuesday that seven top executives will return their fiscal 2011 performance-linked bonuses. The executives affected by this decision include their former CEO Howard Stringer and current CEO Kazuo Harai.
Why this announcement now?…. [Read more…] about Sony Slaps Senior Execs – Makes Them Give Back Pay
D&M Holdings Announces Sweeping Changes – Starting with Their Name
Even by late-May’s standards, it was an unusually hot and humid day this week as a major contingent of the tech press gathered up in Mahwah, New Jersey at the weirdest looking Sheraton you’ve ever seen – more rocket ship than hotel. We were summoned to a press presentation by D&M Holdings that promised to be more significant than those in the past. Little did we know that the heat of the day was presaging the hot presentation that was the subject of our gathering!
[Read more…] about D&M Holdings Announces Sweeping Changes – Starting with Their Name
BREAKING NEWS: Nortek Reorganizes Its Reorganization
Today, just a short time ago, Nortek Inc.’s AVC Group released an announcement that a major new phase of their reorganization is in the works. Specifically, the AVC Group which currently is the merged brands of Niles Audio, Elan, and Xantech, will be expanded to include SpeakerCraft, Proficient, Panamax/Furman all under the same roof. Furthermore, Nortek’s former reorganizer – Mark Terry – has been reorganized out of the newly restructured company.
[Read more…] about BREAKING NEWS: Nortek Reorganizes Its Reorganization
Monster’s Cable-less Future
This week at the Alliance Expo 2012 being held in Newark, NJ by Audio Associates and their vendors, Monster (formerly Monster Cable) had a large presence with a booth that stretched down one wall, across a corner, and along another wall with an impressive showing of their product line. The Monster presence included those products for which they are best known – cables and headphones, but perhaps even more impressive than that – they demonstrated some of their new wireless technologies and systems…pointing towards a wireless future. [Read more…] about Monster’s Cable-less Future
Nortek’s Net Losses Continue – And Continue to Improve
<May 16, 2012> Late last week Nortek Inc. released the results of its fiscal first quarter or the period that 
ended March 31, 2012. Nortek – parent company to venerable industry brands such as Niles Audio, Speakercraft, Xantech, Elan, and more – showed a 7% sales increase in the quarter to $522.8 million as compared to $488.6 million in the year before. And while the company continued to book a net loss in the first quarter, it clearly showed solid improvement in several areas…including a dramatically reduced net loss of $1.2 million as compared to the same quarter last year when the net loss was $21.1 million. [Read more…] about Nortek’s Net Losses Continue – And Continue to Improve
For the First Time in Years, Residential Construction Forecast is Optimistic; But Cautiously So
<April 25, 2012> The National Association of Home Builders (NAHB) held their annual Spring 
Construction Forecast webinar for members of the press today, and the organization’s forecasts were decidedly – if cautiously – optimistic. Forecasting rebounding growth in several important categories, the NAHB is clearly suggesting that better days are ahead. [Read more…] about For the First Time in Years, Residential Construction Forecast is Optimistic; But Cautiously So
Best Buy Reveals List of Stores to be Closed
<April 18, 2012> On Monday, Best Buy revealed the specific store locations it planned to close as previously announced by former CEO Brian Dunn, just days before he unexpectedly resigned under potentially scandalous circumstances. In the wake of reporting disappointing financial results, Dunn had announced – among other things – that the company would shutter 50 of its big box superstores, but did not identify specifically which store locations would close. [Read more…] about Best Buy Reveals List of Stores to be Closed
