Wayne, NJ-based Electronics Expo, an independent regional retail chain selling quality A/V electronics, has entered bankruptcy as of March 31st. The company, which at one time had as many as eight locations at its peak, is now down to two showrooms and one outlet center at its offices, according to a report by NorthJersey.com. Electronics Expo is owned by Leon Temiz, once a partner with family members in another regional player, Sixth Avenue Electronics.
Management
EXCLUSIVE: Core Brands Set to Announce Sweeping New Initiatives April 1st
Senior VP of Marketing
Core Brands, a division of Nortek, Inc., will announce sweeping new structural and marketing initiatives this coming Tuesday, April 1st, Strata-gee.com has learned from multiple sources. In a recent post on parent company Nortek, we alluded to sources telling us about impending changes in what was to be a major announcement – literally a fundamental change in the way the company does business.
Find out what Core Brands is set to announce next week… [Read more…] about EXCLUSIVE: Core Brands Set to Announce Sweeping New Initiatives April 1st
Nortek’s TECH Segment’s Troubled Transformation
In a recent fiscal year 2012 fourth quarter and full-year report, Nortek, Inc. showed a mixture of hit-and-miss results with fourth quarter sales dropping 5.6% to $505.4 million as compared to Q4 2011’s $535.2 million. Worse yet, the company’s Q4 net loss increased from last year’s $800,000 to a substantial $12.5 million. These results were in spite of the fact that this year’s calendar for the quarter had two more days in it than the quarter last year.
However, Nortek’s overall annual results showed a brighter picture with 2012 sales increasing to $2.2 billion, up 2.8% from the previous year’s $2.14 billion. Net profits in 2012 came in at $9.5 million – a substantial improvement over 2011’s net loss of $55.9 million.
But one other thing came through loud and clear…Nortek’s TECH segment remains troubled… [Read more…] about Nortek’s TECH Segment’s Troubled Transformation
New Details of Drama Emerge in Continuing Sharp & Samsung Soap Opera
A story that has stunned many in Japan, the partnership between two former arch-rivals Sharp Corp. and Samsung Electronics Co., continues to churn out surprising new details of the backroom drama worthy of the most melodramatic soap opera. As the Japanese press digs up more of these stories, it is clear that Sharp – as desperate as it had become – was nervous, measured, and a little tentative in approaching the new pact.
See some of the surprising behind-the-scenes drama that is emerging from this unusual partnership… [Read more…] about New Details of Drama Emerge in Continuing Sharp & Samsung Soap Opera
Monster Creates $30K ‘Crown Jewel’ Headphone for Harrods of London
Monster Products announced late today that it has created a one-of-a-kind “crown jewel” headphone based on its Diamond Tears model as redesigned by Korean artist and jewelry designer Sally Sohn for the exclusive Harrods of London department store. The new headphones feature 5.56 carats of black diamonds and plenty of 18k gold…oh, and it comes with a hefty price tag of £20,000. That’s $30,000 in good old U.S. greenbacks.
See this remarkable headphone below. Will this be Monster’s tour de force? Or a tour de farce?… [Read more…] about Monster Creates $30K ‘Crown Jewel’ Headphone for Harrods of London
Owners, CEOs, Presidents: How Often Do You Travel with Your Sales Team?
Often, when a company contacts The Stratecon Group (our marketing company, and owner of www.strata-GEE.com), to ask for advice on “business development issues” (i.e. they are in trouble and running out of ideas), the first question we ask of the owner/CEO/president is: “How Often Do You Travel with Your Sales Team?” The answer to this question is critical to our assessment of the situation. Understand, there’s no right or wrong answer…but the answer will be incredibly illuminating as to several critical elements of their management of the enterprise.
And what do you think the most common answer we receive is?… [Read more…] about Owners, CEOs, Presidents: How Often Do You Travel with Your Sales Team?
Are You Using These Best ‘Tough Economy’ Marketing Practices of Top-Performing SMBs?
How are top-performing small-to-medium sized businesses (SMBs) adjusting their marketing for the current sluggish economic climate? Act-On Software, a marketing automation software company, commissioned Forrester Consulting to find out by probing hundreds of SMBs in an effort to learn more about their marketing practices – especially in regards to tactics employed in response to the recent economic morass within which we all find ourselves. A few months ago, Forrester and Act-On released excerpts from the research titled Driving SMB Revenue in a Tough Economy – excerpts that revealed several interesting insights into the differences between the marketing practices of top-performing companies as contrasted to overall results…or those of bottom-performing companies.
There are some interesting insights from what they discovered… [Read more…] about Are You Using These Best ‘Tough Economy’ Marketing Practices of Top-Performing SMBs?
Founder Schulze Considering Abandoning Deal for Best Buy
Former Best Buy Chairman
Multiple news outlets, including the Wall Street Journal and Reuters News Service, are reporting that Best Buy founder Richard M. “Dick” Schulze is considering abandoning his bid to take the company private. Schulze had informed the Board of Directors in August 2012 that he intended to purchase all outstanding shares of stock to take the company private. After months of study and planning, Schulze is said to be ready to scuttle the plan.
Why, after so much effort, is Schulze considering dropping his bid?…See what we discovered… [Read more…] about Founder Schulze Considering Abandoning Deal for Best Buy
Pioneer Announces Q3 & 9-Month Losses; Cuts FY2013 Forecast from Profit to Loss
In what is turning out to be a very rough earnings season in Japan, Pioneer Corp. announced yesterday its results for the third quarter and nine-month periods of fiscal year 2013 which ends March 31, 2013. Both Q3 and the 9-month periods showed losses, with the YTD loses increasing substantially to ¥9.8 billion ($105 million) down from a loss of ¥6.6 billion. As a result of this, the company has cut its FY2013 forecast from a profit of a ¥1 billion ($11 million) to a loss of ¥4 billion ($42.8 million)…a surprising ¥5 billion change of fortune.
Due to the company’s deteriorating business, the Board of Directors has ordered a significant restructuring including salary and bonus cuts for executives and employees. The company has also said it will cut jobs.
Why has Pioneer’s business shifted so dramatically? See more details below… [Read more…] about Pioneer Announces Q3 & 9-Month Losses; Cuts FY2013 Forecast from Profit to Loss
Bob Brown Joins Thiel as Interim COO and Board Member
Industry veteran Bob Brown, known to many from his long tenure as President at Lenbrook America, has joined Thiel Audio as a member of their board of directors. Brown will also, effective immediately, begin serving as the company’s interim Chief Operating Officer (COO).
Thiel, as we recently reported, is in the middle of an exciting revival as the result of its recent purchase by a consortium of Tennessee investors led by current CEO Bill Thomas.
