Troubled Japanese electronics manufacturer Sharp Corp. announced today that it will sell its headquarters building in Osaka, as well as an additional associated building, and the land they both stand on, in a bid to raise cash. The company says it sold the properties for ¥18.8 billion ($156.8 million) which will allow them to book a special gain of ¥14.8 billion in profit from the deal in their fiscal fourth quarter, the period ending March 2016.
Pivot Point
Taking Integration to a Whole New Level; Millson to Launch CinemaFrame at CEDIA Expo
Strata-gee EXCLUSIVE
Well-respected custom integrator Richard Millson, founder of Vancouver, BC-based Millson Technologies, has some 25-years of experience in high-end residential AV and automation systems installation. Many of these installations were in luxury high-rise condominium developments, trendy boutique hotels, and high-end homes. After literally tens of thousands of installations, Millson knew well the gaping holes in the market that manufacturers simply weren’t addressing.
So Richard created a new company, Millson Custom Solutions, to address these gaps. And the first product from MCS, four years in the making, is CinemaFrame – an amazing in-wall high-performance home theater solution.
See more on the remarkable CinemaFrame invisible home theater system… [Read more…] about Taking Integration to a Whole New Level; Millson to Launch CinemaFrame at CEDIA Expo
CEDIA: Manufacturers Hop into the Driver’s Seat
CEDIA announced last week that it has hired Vincent Bruno to take over as CEDIA’s new Chief Executive Officer, effective next month. Bruno will leave his current position as Marketing Director for manufacturer Crestron Electronics, a position he’s held for seven years, to take the CEO role at the top trade association for integrators.
See more on this interesting development… [Read more…] about CEDIA: Manufacturers Hop into the Driver’s Seat
Try as It Might, Toshiba Can’t Seem to Turn the Page
On Monday, Toshiba released their twice-delayed final financial data for the last fiscal year (ended March 2015) in what it undoubtedly hoped would be the first step to turning the page from a scandal-racked year. But forces out of their control conspire to keep them in the hot seat – with a regulatory agency threatening large fines and a major shareholder demanding the company sue its former executives.
It looks like Toshiba’s troubles will continue… [Read more…] about Try as It Might, Toshiba Can’t Seem to Turn the Page
Toshiba Stuns Markets Again, New Whistleblowers Claim More Wrongdoing
10 New Investigations into Allegations of Improprieties, Including at U.S. Subsidiary
Just when you thought things couldn’t get worse for the aging Japanese industrial giant, Toshiba Corp. again stunned the financial community in Japan – forced to postpone their already delayed financial reports which were expected at the end of August. The company said it was forced to delay the report in the face of ten whistleblowers who have come forward alleging more company misdeeds. The company has launched ten new investigations, including one at a U.S. subsidiary.
See more on this shocking development from the already damaged company… [Read more…] about Toshiba Stuns Markets Again, New Whistleblowers Claim More Wrongdoing
Investment Advisor on Potential Nortek Acquisition: ‘Nortek is a Bit of a Train Wreck’
After the Wall Street Journal revealed late last month that United Technologies Corp. (UTC) was in talks to potentially acquire Nortek, Inc., we questioned why UTC would even want to acquire Nortek. Within days of our post, investment advisory firm The Motley Fool (TMF) also raised the issue in a post last week about this not-quite-so-obvious marriage. Well, maybe it’s more like a dalliance than a marriage…at least at this point.
We found the Motley Fool’s analysis interesting – both in their clear-eyed assessment of Nortek and why the acquisition may in fact make sense for United Technologies.
See more on this Motley Fool discussion of the potential UTC-Nortek deal… [Read more…] about Investment Advisor on Potential Nortek Acquisition: ‘Nortek is a Bit of a Train Wreck’
Pay TV Systems Slammed in Q2; Lose Almost Half Million Subscribers
New studies show pay TV providers saw a large and significant decline in the number of subscribers in the second quarter of this year, losing more than 470,000 subscribers – almost a half million – during the quarter. It was their worst quarterly performance ever and indicates a growing, troubling trend.
See more on this new research and see why cable content providers aren’t faring much better… [Read more…] about Pay TV Systems Slammed in Q2; Lose Almost Half Million Subscribers
Why Would United Technologies Want to Acquire Nortek?
The Wall Street Journal broke the news yesterday that United Technologies Corp. is in talks to possibly acquire Nortek, Inc. Nortek is best known in our industry as the parent company of Core Brands, a collection of several prominent lines – such as Niles, Elan, SpeakerCraft (and others) – that are focused largely on the custom integration business, but also produces commercial and residential HVAC and air handling equipment. United Technologies is a large conglomerate with diversified holdings such as Pratt & Whitney jet engines, Otis elevators, and Carrier air-conditioning equipment.
See more on what we know so far on this potential deal, which isn’t much… [Read more…] about Why Would United Technologies Want to Acquire Nortek?
Toshiba Struggles to Get Past Troubles
Toshiba Corp. has been subjected to almost daily press stories and analyses in the Japanese media on their continued struggles in the wake of a huge accounting scandal at the formerly blue-chip powerhouse company. The scandal was likely large in terms of financial losses, but even larger in terms of decimating the reputation of the company and its management. To turn the situation around, the company must start to build a new reputation for reliability. It isn’t going to be easy…
New President, new board, secret ballets…strange stuff… [Read more…] about Toshiba Struggles to Get Past Troubles
Planar Systems Acquired by Chinese Video Wall Maker Leyard Optoelectronic
Planar Systems, Inc. announced today that it has agreed to be acquired by Leyard Optoelectronic Co., Ltd., a leading Chinese provider of fine pitch LED video wall systems. Leyard will purchase all outstanding shares of Planar stock paying $6.58 per share, valuing the deal at $156.8 million. This represents a 42% premium over the value of the stock at closing before the deal was announced.
