We told you a few days ago about a rising chorus of opposition to the construction of LG’s new 143-foot tall U.S. headquarters in Englewood Cliffs, NJ – a borough which borders on a lush, green, wooded area of the state known as the Palisades – a National Natural Landmark. Now, in a scathing “Critic’s Notebook” article in Saturday’s New York Times, Michael Kimmelman compares how Samsung – also building a new headquarters building in San Jose, CA – took steps to be a good corporate citizen and fit in with the community…versus the approach by LG, “…a lousy neighbor.”
Manufacturers
Talk About Income Inequality! Just Four Companies Generated 90% of All Net Profits in South Korea
In a report that is sure to surprise many and even stun some, the Korea Fair Trade Commission, South Korea’s fair trade watchdog, announced that just four large companies – or conglomerates – generate 90% of all of the total net profit earned in the country in 2013. The commission, which closely tracks the performance of what they call the largest conglomerate companies, issues their report every April with this year’s report showing the share of the top four have continued to grow since 2011.
But wait until you see the percentage of profits from just the top TWO companies… [Read more…] about Talk About Income Inequality! Just Four Companies Generated 90% of All Net Profits in South Korea
Powerful NY Attorney General Enters LG – Palisades Dispute
The New York Times reported this morning that New York’s powerful attorney general, Eric T. Schneiderman, has entered the dispute between LG Electronics and various environmentalist groups seeking to force LG to modify construction plans for its new headquarters facility. Schneiderman, siding with the environmentalist groups, has filed an amicus brief with the appellate court asking it to reverse a lower court decision that allowed the construction to proceed.
Bringing the matter to a boil is LG’s insistence on pushing forward with construction despite the increasingly vocal opposition… [Read more…] about Powerful NY Attorney General Enters LG – Palisades Dispute
Deconstructing D&M Holdings; Company Sells Calrec Audio and Explores Other Options
Former CEO Pacor Comments on Brand Acquisition Strategy
We learned last week that D&M Holdings, also known as the D+M Group, sold off its Calrec Audio brand to Electra Partners, a London-based private equity company. D&M received £14 million ($23.1 million) for Calrec, a designer of premium audio products and live-to-air consoles for the broadcast market. The move is part of a plan to divest itself of all non-core businesses, CEO Jim Caudill has said in press reports.
See more on the company’s aggressive strategy to unload non-core businesses… [Read more…] about Deconstructing D&M Holdings; Company Sells Calrec Audio and Explores Other Options
Yamaha Updates Popular RX-V Line of A/V Receivers Adding Wireless & Streaming Services
Yamaha Corporation of America announced this week that it has updated its well-regarded RX-V line of A/V receivers adding several new and popular features such as new wireless capability, a new surround capability, and new streaming services. Included in this update are the 7.2-channel RX-V777BT, RX-V677, RX-V577…as well as the 5.1-channel RX-V477. The company notes that these models embody a rare combination of sound quality, convenience, and accessibility.
See more on this significant update to an already popular line of products from Yamaha… [Read more…] about Yamaha Updates Popular RX-V Line of A/V Receivers Adding Wireless & Streaming Services
Prominent West Coast Rep Closes Company to Join Savant; He Tells Strata-gee Why
Savant Systems announced today that it has appointed Mike Kavanaugh as its Sales Director for the West Coast effective April 14, 2014. Kavanaugh, a well-known and prominent custom integration rep, is the principal of MK Marketing, a successful 20+ year sales representative company based in Southern California.
Now Kavanaugh is closing down MK Marketing to become a Savant employee – surprising many… [Read more…] about Prominent West Coast Rep Closes Company to Join Savant; He Tells Strata-gee Why
JVC Kenwood’s Early Retirement Solicitation Falls Short of Goal
JVC Kenwood Corporation announced the final results of their voluntary early retirement solicitation first announced late last year. This solicitation was offered as part of a comprehensive effort to turn around the company’s flagging fortunes and included many steps to cut overhead and improve profitability – such as this effort to cut employment by incentivizing employees to leave the company.
Did their program succeed? See the results below… [Read more…] about JVC Kenwood’s Early Retirement Solicitation Falls Short of Goal
Nortek Reports Uneven Fiscal Results; With A/V Biz in Decline, Security is TECH Segment’s Rising Star
SEC Filings Reveal Serious Decline in 2013 Sales of A/V Lines
Nortek, Inc., a Rhode Island-based diversified manufacturer of a variety of environmental and technology products for home and business, announced its financial performance for the fiscal fourth quarter and year ended December 31, 2013 on Tuesday and conducted a conference call with analysts Wednesday morning. Nortek is the parent company of Core Brands, a group of eleven A/V brands that have a significant impact on the custom integration business – and, for this reason, we follow them closely.
The company saw sales increases for both the quarter and the year; however, it booked a net loss for both periods, suggesting that its previously announced restructuring plan is still a work-in-progress.
See more on the company’s overall performance, as well as the unsettling news we heard about the TECH division, which includes Core Brands…
Sterns Moves Quickly to Rework Sony’s CI Business
When we first reported on the appointment of Frank Sterns as Sony’s VP of A/V Specialty/Custom Integration on the eve of the September 2013 CEDIA Expo, like many of you…we were skeptical. After all, we’ve heard encouraging announcements from Sony before…only to watch those initiatives in limited distribution, high-end products fall into disrepair through over-distribution, under-resourcing, or both.
But this time is different, Sterns tells us. And as he runs around the country setting up a whole new sales operation…we’re beginning to believe him.
See more on Sterns’ rapid ramp-up of a new Specialty A/V-CIS division for Sony… [Read more…] about Sterns Moves Quickly to Rework Sony’s CI Business
Kaleidescape Announces (Finally) Srinivasan as CEO
BREAKING NEWS
In a story we reported last week, there has been a shake-up in management at Kaleidescape, a popular media server manufacturer. In this shake-up, several employees left the company…including the CEO. The company would not comment on our story, but said a statement was forthcoming.