Strategy in TECH...
Crestron Electronics, Inc. (Crestron) announced today a firmware update that adds Spotify Connect to its growing selection of streaming music services available through its recently-launched DM NAX 8-Zone Network Streaming Amplifier. With Spotify Connect in the DM NAX’s firmware, users get “an elevated music experience” the company says, with control available directly through the Spotify music service or via any Crestron interface.
The latest data on home affordability from the National Realtors Association, tracked in its Housing Affordability Index, shows that housing is at its least affordable level in 22 years. And that’s not just for first-time buyers, but for home upgraders as well. Not only that, but new economic data suggests that this declining housing affordability will remain an issue for some time yet to come.
VOXX International Corp. announced its fiscal 2023, first-quarter results late Monday, reporting that it saw sales declines, deepening operating losses, and a swing to a net loss in the quarter. Shares in VOXX declined 9.44% in value in trading Monday – and after-hours trading in the early evening pointed to another nearly 3% decline in shares. By comparison, the S & P 500 saw overall shares decline 1.15% on Monday.
Snap One, the entity originally founded as SnapAV, and a company whose motto is “Founded by integrators for integrators,” recently demonstrated how they strive to be a better partner by providing their dealers with some really solid and helpful advice. One of their appreciative dealers forwarded me an email he had received from the company containing useful information on how to protect his business from fraud.
Major American and Asian chip makers warned this week that they may scale back their planned investments in building U.S. semiconductor production if Congress doesn’t finally move forward and pass the CHIPS Act. The CHIPS Act is legislation the administration seeks to build up a more robust U.S.-based semiconductor supply chain.
In a world where many brands are building “planned obsolescence” into their products such that after some period of time customers are forced to buy new versions of their products to replace the old, Bryston takes the opposite approach. Instead of forcing you into NEW models, the company wants to help keep past purchasers of Bryston gear in wedded bliss with their OLD “vintage” gear via a new Back to the Future product restoration service.
A broad group of global manufacturers in diverse markets from Ford to Samsung have seen their inventory levels swell as consumer demand weakens in the wake of surging inflation and destabilizing economic conditions, according to a new analysis by the Nikkei. According to their research, global manufacturing inventories have swelled to $1.8 trillion, a record total that is the highest measured manufacturing inventory level in the last ten years.
I hope everyone has a HAPPY 4TH OF JULY with lots of family, frisbees, hot dogs and fun!! Thanks for reading Strata-gee!!
The Conference Board announced on Tuesday that consumer confidence in June, as measured by their Consumer Confidence Index, a key indicator of the state of mind of the U.S. consumer, has dropped to a reading of 98.7. This is the first time that the Index has been under its 100 reference level since a post-2020 pandemic recovery. Generally, a reading under 100 indicates a pessimistic consumer likely to cut back on spending.
This is the lowest reading for consumer confidence since February 2021.
You may have seen the recent announcement from Savant that they have broadened the distribution of their new energy management solutions to a pair of new, strategically significant distribution partners. You may have ignored this news, perhaps not recognizing the distributors who are both better known in the electrical/renewable contracting communities.
But if you are an integrator who specifies Savant products in your proposals, you should be really paying attention to what this company is doing with its powerful (pun intended) energy management strategy. It’s big!
