I had barely lit up the pixels with my post on Nortek’s holiday termination of their remaining independent sales representative groups, when I began hearing from a number of other sources about high-end specialty brand Bryston terminating their rep force as well. It’s like a New Year’s assault on sales representative groups…and they aren’t happy about it…
Management
Nortek to Reps: Happy New Year, You’re Fired
BREAKING NEWS
Our phones and email lit up over the last few days as word spread that Nortek Security and Control has fired all of the remaining Core Brands reps in the U.S., according to multiple sources. The timing of the terminations over the holidays only seems to add a sense of heartlessness to the action….a real-life ‘bah humbug’ that leaves the reps feeling cold.
See more on the New Year firing of all Nortek field sales reps… [Read more…] about Nortek to Reps: Happy New Year, You’re Fired
Gibson Says, Sorry Memphis, We’re Outta Here
Just a matter of months ago, Gibson Brands management assured the town elders of Memphis, TN that the company remained committed to the vibrant music community in Memphis and that they were looking for new digs somewhere within that community. But that was then and this is now – the company was basically taken over by KKR and now the company has decided to vacate Memphis, moving their group there to Nashville.
See more on the incredible shrinking Gibson… [Read more…] about Gibson Says, Sorry Memphis, We’re Outta Here
CEDIA Tells Members Everything’s Fine; But Is It?
The Custom Electronic Design & Installation Association (CEDIA), held their annual member’s webinar where association staff and board representatives review the “State of the Association” for those members tuning in to the webcast. The polished, prepared presentation offered an upbeat assessment on the organization’s accomplishments in 2018. But, as you might suspect, I uncovered a couple of interesting issues in which I’m seeking some follow-up clarification.
See what CEDIA presented to members… [Read more…] about CEDIA Tells Members Everything’s Fine; But Is It?
Bowers & Wilkins Restructures in Support of R&D
Bowers & Wilkins (B&W) announced today it has restructured its company in order to further its research and development initiatives. In a brief announcement, only four paragraphs long, new CEO Gregory Lee (former CEO of Samsung North America) said a new, larger research facility will open in 2019.
See more on this announcement from Bowers & Wilkins… [Read more…] about Bowers & Wilkins Restructures in Support of R&D
Tivoli Partners Learn of a Buyout – 1 Year Later
When we last left Tivoli, the company created many years ago by Tom DeVesto who is now the CEO of Como Audio, it was 2015 and they had just been sold by one private equity company, with the help of another private equity company, to a third private equity company. Now word comes that the third private equity company, Serruya Private Equity of Toronto, which Strata-gee wrote about in June 2015, has sold Tivoli in a buyout to the company’s management in conjunction with a financial backer.
See more on the continuing Tivoli saga… [Read more…] about Tivoli Partners Learn of a Buyout – 1 Year Later
It’s Official – Monster Money is Dead
Back in June, Strata-gee reported that Monster Products, Inc. (the former Monster Cable) had filed an S-1 registration document with the Securities and Exchange Commission, laying out its plans to launch a new cryptocurrency known as Monster Money. In addition to this, the company would offer shares in the company as well. The filing got a lot of attention at the time, in part because if successful, it would be the largest cryptocurrency launch ever to that point.
Now, I’ve learned that this initiative has been officially rescinded by the company.
See what we know about the retreat of Monster Money… [Read more…] about It’s Official – Monster Money is Dead
Emerald Expositions CEO Resigns, Q3 Results Released
For Owner of CEDIA Expo, There’s Trouble in Emerald City
Emerald Expositions’ stock nose-dived 19% in early afternoon trading last Thursday as the company released its third quarter fiscal results and announced that David Loechner has resigned as the company’s President and CEO. Current CFO Philip Evans takes over as Interim President and CEO.
What’s going on at Emerald Expositions?… [Read more…] about Emerald Expositions CEO Resigns, Q3 Results Released
Gibson to Emerge from Bankruptcy & Stop Singing the Blues
With Old Debt Gone, A New Leader & Team Arrives
Gibson Brands is on the verge of emerging from bankruptcy a much healthier business in many respects – with less debt, more money in the bank, and a new leader to help the company shed its consumer electronics debacle and reconnect with the musical instrument market. The fifth time, it appears, was a charm as the court has approved the fifth revision of a company submitted turnaround plan that, cuts debt, jettisons former CEO Henry Juszkiewicz, and puts bondholders KKR in the driver’s seat.
See more on Gibson’s dramatic turnaround… [Read more…] about Gibson to Emerge from Bankruptcy & Stop Singing the Blues
Does the WAVE/AVAD Deal Signal a New Era in Distribution?
As we reported last week, the world learned that the private equity group that owns AVAD has made another deal, acquiring Houston, TX-based WAVE Electronics, another major custom integration distribution company. After an initial ripple of excitement over the deal, most of us went back to our daily lives – looking at this deal as nothing more than just another private equity acquisition. But there may be more here than meets the eye…
