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Ingram Micro’s Q3 Financials Show Sales Up; Profits Down

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Ingram Micro logoIngram Micro, Inc. released the financial results for their fiscal third quarter (the period ending Sept. 27, 2014) showing generally positive results. Sales for the quarter increased to $11.2 billion, a $1 billion or 11% increase over the $10.2 billion for the same period last year. According to Ingram Micro CEO Alain Monié, the increase was due primarily to “new wins” and “strong market share.”

But while gross profits were up, gross margins, operating income, and net income were all down for the period…and that fact led us to take a closer look.

See our report below on the financial results for Ingram Micro… [Read more…] about Ingram Micro’s Q3 Financials Show Sales Up; Profits Down

In First Step of Transformation, Thiel Terminates Reps

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New Thiel logo black backgroundIn a notice emailed to dealers last Thursday sporting a spiffy new corporate logo, Thiel took what appears to be the first step in what is promised to be a stream of “regular communications from us” regarding the company’s transformation from a legendary audiophile loudspeaker brand to a…well to what, we just don’t know yet. But what we do know is that the company has begun this transformation by terminating its entire national independent sales representative sales force.

See what Thiel told dealers was the reason for terminating their local sales rep…

[Read more…] about In First Step of Transformation, Thiel Terminates Reps

Center of Planet Panasonic Since 1970, AV Headquarters to be Closed, Demolished & Sold

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Photo of Panasonic signIn what is surely a demonstration of a conclusive shift in its business strategy – not to mention a bit of heavy symbolism in hometown Osaka, Japan – Panasonic Corp. has announced its intentions to close, demolish and sell off the real estate of its existing AV headquarters building that served as the home of its TV and AV business since the 1970s. The center of the universe for tech-heavy Panasonic, many in Japan look to this development as a sign of the end of an era as this 160,000-sq.-meter (1.7 million-sq.-ft.) building was where the company’s TV business and digital electronics businesses were created and managed.

See more on this dramatic example of industrial change in Japan… [Read more…] about Center of Planet Panasonic Since 1970, AV Headquarters to be Closed, Demolished & Sold

Sharp Says They’ll Be First to Market with 8K TVs – Plans 2015 Start

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Image of large UHDTV Screen

Sharp Corporation has announced in Japan that it intends to be the first company in the world to bring 8K LCD TVs to market – and says it will begin making them in 2015. Sharp made the comments at CEATEC, a major trade show for the IT and CE industries taking place right now in Japan.

Are you ready for 8K?… [Read more…] about Sharp Says They’ll Be First to Market with 8K TVs – Plans 2015 Start

Big Changes at Core Brands: Pollock Retires & Keller is Out

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BREAKING NEWS

Nortek's Core Brands LogoWe received word late today of big changes taking place at Core Brands as the company announced that President Bill Pollock will retire “after 27-years leading Panamax-Furman” and Core Brands. Pollock’s retirement becomes effective at the end of the year and he will be replaced by Joe Roberts, currently Core Brands Vice President of Products and Marketing.

The company also announced that Senior Vice President of Sales Dave Keller will be also leaving the company “before the end of the year.” Interestingly, there was no reason given for Keller’s departure.

See more on these dramatic developments… [Read more…] about Big Changes at Core Brands: Pollock Retires & Keller is Out

Pioneer Says Merger Talks with Onkyo Continue; But Equity Partner Appears Sidelined

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Pioneer LogoPioneer Corporation released an interesting document on September 12th – while much of the tech media was in Denver for CEDIA – titled Notice with Respect to Basic Agreement for the Integration of Pioneer’s Home AV Business and Onkyo. This curious document, six pages long, gives an update as to the state of the discussions between the parties in the previously announced “basic agreement” between Pioneer, Onkyo, and Baring Private Equity Asia for a “Capital/Business Alliance” related to Pioneer’s Home AV business.

Now, apparently, the deal’s changed…with Baring PE pushed to the sidelines… [Read more…] about Pioneer Says Merger Talks with Onkyo Continue; But Equity Partner Appears Sidelined

Pioneer Fire Sale Continues – Dumps DJ Biz to KKR

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KKR logoPioneer surprised everyone back in June of this year when word came that it had decided to sell its AV business to Onkyo Corp. and a private equity company. But actually, the gears for this and other deals were set in motion last year when the company launched a new strategic plan to focus on their core business – car electronics, their largest and most profitable division.

Now we learn the company has sold off its once burgeoning DJ business to KKR. See more… [Read more…] about Pioneer Fire Sale Continues – Dumps DJ Biz to KKR

Bodley Exits PPC to Start a Company Selling What? Why PPC, Of Course

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Bodley & Assocs. logoWhen Belden bought PPC at the end of 2012, Eric Bodley thought this was going to be great news for both PPC and its Perfect Path line, where since 2009 he had led the charge in establishing the cable and satellite connector company’s locking HDMI connectors into the custom integration channel. And while he would argue that this acquisition by Belden was, in fact, a good thing for PPC, he soon came to realize that there was a challenge for him that was difficult to address.

That realization led Bodley to leave Belden/PPC and start a new company – to sell PPC… [Read more…] about Bodley Exits PPC to Start a Company Selling What? Why PPC, Of Course

Nortek’s Struggling AV Division Forces Company to Book a $46.2 Million Q2 Net Loss; Burke is Out

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Sean Burke, Head of Technology Solutions Group is Leaving Company

Nortek LogoNortek Inc. released yesterday the financial results for their fiscal second quarter and first half showing a solid overall sales gain of 13.9% to $718.6 million, up from $630.7 million in the same quarter last year. Sales increased at a more moderate pace for the first half, coming in at $1.266 billion or 10.1% higher than the $1.149 booked last year.

But in a bit of a surprise, the company chose to break out the results of their AV division separately – clearly exposing what many had suspected for  a couple of years now – this division is in serious trouble. Even more surprising, in a filing with the SEC, the company revealed that Sean Burke, Group President of the Technology Solutions Group is leaving the company “to pursue other interests.”

See more on just what Nortek’s latest financial results show… [Read more…] about Nortek’s Struggling AV Division Forces Company to Book a $46.2 Million Q2 Net Loss; Burke is Out

Thiel’s New CEO Says Company ‘Struck a Chord’ Compelling Him to Join

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Thiel CEO John Wittman

In a telephone interview today, new Thiel Audio CEO John Wittman told us that the company “struck a chord with me personally,” virtually compelling him to take over as CEO after the owners’ invited him to look at the company last winter. Over the course of an interview that went on for more than a hour, Wittman candidly shared his thoughts and perspectives in an enthusiastic and – to the degree he felt appropriate – open manner.

See what Wittman had to say about where Thiel is at…and where it’s going… [Read more…] about Thiel’s New CEO Says Company ‘Struck a Chord’ Compelling Him to Join