Bloomberg News reported on Monday that the Best Buy Co. board of directors has received a letter with an offer from company founder and former chairman Richard Schulze to acquire all outstanding shares of the company stock and take it private. Schulze is said to have the support of at least two private equity companies and an investment bank that is confident it can arrange adequate financing. Schulze also says several former Best Buy executives are interested in joining him in the process of reinvigorating the company.
Management
Grace Motif’s John Caldwell to Handle U.S. Sales for Indy Audio Labs’ Acurus & Aragon Brands
In an association that is somewhat unique in our industry, Indy Audio Labs, LLC, (IAL) the company that manufacturers the Acurus & Aragon high-end brands, has hired John Caldwell, founder and CEO of Grace Motif to handle sales for the IAL brands. Interestingly, they have awarded Caldwell the title of Vice President of Sales for IAL while he retains his title and functions at Grace Motif. [Read more…] about Grace Motif’s John Caldwell to Handle U.S. Sales for Indy Audio Labs’ Acurus & Aragon Brands
After 62 Years, New Jersey’s M. Rothman & Company Sold to Z. Reiss
>BREAKING NEWS<
In news that is likely yet another indicator of the depths of the struggles of the consumer electronics industry, M. Rothman & Company, Inc. – a large consumer electronics distributor based in Ramsey, New Jersey and a one-time powerhouse supplier of a wide variety of electronics and appliances for the entire New York Metropolitan marketplace, has been sold to Z. Reiss & Associates. While rumors have been circulating about Rothman for some weeks – we have only now been able to confirm the company is in fact been sold to another New York-based distributor. [Read more…] about After 62 Years, New Jersey’s M. Rothman & Company Sold to Z. Reiss
Continuing to Ramp-Up, 3vNet Announces Its Pick for Director of U.S. Sales
Director of U.S. Sales, 3vNet
New industry player, 3vNet – formerly known as Colorado vNet – announced today that it has selected a Director of Sales. According to the company, Matt Curtin is the company’s new Director of U.S. Sales, effective immediately, and will take over directing the sales activities of the company’s independent sales representatives. [Read more…] about Continuing to Ramp-Up, 3vNet Announces Its Pick for Director of U.S. Sales
Residential Systems Editor Glowacki Named to CEDIA Fellows Program; Blogs Wistfully about Industry Turmoil
Residential Systems Editor-in-Chief Jeremy Glowacki, probably one of the smartest, classiest guys in the industry, revealed on his blog earlier this week that he has been elected to CEDIA’s “Fellows” Program. A honor only bestowed upon a handful of industry executives every year, Glowacki displayed honest surprise at his selection. And, in noting that the honor apparently comes with lifetime CEDIA membership – turned wistful in an emotional blog post about the current state of the industry in So Many Departures in So Little Time. [Read more…] about Residential Systems Editor Glowacki Named to CEDIA Fellows Program; Blogs Wistfully about Industry Turmoil
Four Weeks Later, The OAC Group and Russound Call Off Agreement
Only weeks after reporting of the triumphant return of Oscar Ciornei to Russound, a company for which he was once COO earlier in his career, news comes to us that the parties have agreed to part company. A swift and surprising development – the company says the reason for the mutually agreed-upon separation was an emerging conflict with an existing client. However, we have received reports that suggest other issues may have also been a factor.
Only one month on the job, what went wrong?… [Read more…] about Four Weeks Later, The OAC Group and Russound Call Off Agreement
THIEL Audio Appoints Scowcroft Associates as Rocky Mountain Reps
THIEL Audio announced today that it has appointed Scowcroft Associates as its sales representative for the Rocky Mountain territory effective immediately. Well-known and respected in the territory, Scowcroft Associates is also very experienced in the sales of mid- to high-end product lines.
[Read more…] about THIEL Audio Appoints Scowcroft Associates as Rocky Mountain Reps
Third Time’s the Charm? Colorado vNet – Now 3vNet – Certainly Hopes So
BREAKING NEWS
Colorado vNet, the high-tech control and home automation company that has had an up-and-down roller-coaster existence – dying twice, only to be reborn twice – and eventually given-up on and sold off…hopes that the old adage, “third time’s the charm” is true. CEO Mike Anderson announced today that he is re-launching the company with a new brand – now 3vNet – and a new attitude, telling us that this is not a makeover, but in fact a whole new company with new facilities, new engineering, and a new higher level of tech support the likes of which dealers haven’t seen in years.
See what the all-new 3vNet has in store to excite dealers & drive market share…
[Read more…] about Third Time’s the Charm? Colorado vNet – Now 3vNet – Certainly Hopes So
Sol Republic Wins Round 1 of Heavyweight Boxing Match with Signeo
Earlier this year, we reported on a trademark infringement suit filed by Signeo USA, LLC, vs. Sol Republic. Signeo is the corporate name for a company better known in the trade as the Soul by Ludacris brand of headphones. Sol Republic denied Signeo’s allegations and filed a counter-suit suggesting, amongst other things, that Signeo’s trademark application was improper. Signeo also filed a motion for a preliminary injunction, seeking a court order to stop the sales of Sol Republic products.
There are lots of twists – and the court has rendered its verdict on the injunction… [Read more…] about Sol Republic Wins Round 1 of Heavyweight Boxing Match with Signeo
Rare Steve Jobs Fail – Apple Reportedly Will Shut Down Ping Social Network
The Huffington Post and the Wall Street Journal’s AllThingsD blog are reporting that unnamed sources at Apple have indicated that the company plans to pull the plug on its Ping social networking service, perhaps as early as this fall. Ping, a sort of Facebook for music was incorporated into their iTunes software back in 2010 and launched by famed company chairman Steve Jobs to great fanfare.
