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Core Brands to Significantly Downsize Their Sales Rep Network

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BREAKING NEWS *EXCLUSIVE*

Nortek's Core Brands LogoJust three weeks ago, we had the opportunity to speak with Core Brands Senior Vice President of Marketing Paul Starkey, who confirmed information we had received from multiple sources about an impending announcement of significant changes in the way the company planned to go to market. Starkey confirmed much of the information we had uncovered, especially changes to systems and processes.

But regarding one major initiative we asked Starkey about – that of an extensive restructuring of its sales representative network – he was not able to confirm…at that time.

But that changed last Friday when the company told reps of a major sales force restructuring… [Read more…] about Core Brands to Significantly Downsize Their Sales Rep Network

EXCLUSIVE: Core Brands Set to Announce Sweeping New Initiatives April 1st

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Photo of Paul Starkey
Paul Starkey
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

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Nortek LogoIn 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

Nortek’s Core Brands Appoints Chris Bundy Director of Marketing Communications

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Nortek's Core Brands LogoCore Brands, a division of Nortek, Inc.’s TECH segment, announced today that it has appointed Chris Bundy as its new Director of Marketing Communications. In this role, the company says that Bundy is responsible for “developing and delivering innovative branding, marketing strategies, and product launches across then brand lines…” Bundy’s most recent position was director of marketing for Atlona.

See more on this development below… [Read more…] about Nortek’s Core Brands Appoints Chris Bundy Director of Marketing Communications

Nortek Consolidation Continues; Creates New ‘ProAV Group’

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BREAKING NEWS

Nortek LogoNortek Inc. announced this morning that it has consolidated several of its brands into a new organization that they call the “ProAV Group.” Consisting of several Nortek brands that were conspicuously missing from their recently formed “Core Brands” group, the ProAV Group combines Gefen, TVOne, and Magenta Research into one consolidated group.

See more on this latest round of Nortek consolidation… [Read more…] about Nortek Consolidation Continues; Creates New ‘ProAV Group’

EXCLUSIVE: Nortek’s Core Brands Clears the Air with strata-GEE.com in Exclusive EXPO Interview

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Nortek's Core Brands LogoThe 2012 CEDIA Expo launched with a bang for me as I previously reported when, upon entering the convention center, I was collared by a PR person who quickly walked me (without explanation) to a high-level executive for a Nortek company who felt the need to tell me – in compelling and direct terms – what he thought of strata-GEE.com’s coverage of the Core Brands consolidation. (Hint: he didn’t like it.) After a few minutes of somewhat hot-under-the-collar conversation, things cooled off a bit and he offered to get me together with the Core Brands management to clarify the situation.

Now we’re getting somewhere… [Read more…] about EXCLUSIVE: Nortek’s Core Brands Clears the Air with strata-GEE.com in Exclusive EXPO Interview

Here We Go Again – Nortek Reorganizes Its Reorganized Reorganization

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Nortek's Core Brands LogoThis Monday, Nortek, Inc. announced yet another reorganization, their third major structural change since the company decided to group its A/V assets under one roof back in April 2010. The company has created yet another new company called Core Brands which will further consolidate and control a total of ten of the company’s A/V brands in their Technology Solutions Segment (TECH).

The brands affected by this consolidation include Aton, BlueBOLT, Elan, Furman, Niles, Panamax, Proficient, SpeakerCraft, Sunfire, and Xantech. Core Brands will be based at offices in Petaluma, CA; Calrsbad, CA; Riverside, CA; and Marblehead, MA.

Aren’t 10 brands under one roof really just a new conglomerate?…

[Read more…] about Here We Go Again – Nortek Reorganizes Its Reorganized Reorganization

Nortek Financial Results Show That, Despite Best Efforts, TECH Remains Troubled

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Nortek's HeadquartersAt the end of last week, Nortek, Inc. reported their financial results for the fiscal second quarter and first half. While at first blush the overall numbers look good – sales up 9% in Q2 and 8% in 1st Half and returning to profitability for both periods – digging deeper shows that their technology business unit (TECH) and residential ventilation business unit (RESV) are not yet participating in the company’s turnaround. Given the significant amount of restructuring of their TECH segment, this result is troubling. [Read more…] about Nortek Financial Results Show That, Despite Best Efforts, TECH Remains Troubled

BREAKING NEWS: Nortek Reorganizes Its Reorganization

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AVC GroupToday, just a short time ago, Nortek Inc.’s AVC Group released an announcement that a major new phase of their reorganization is in the works. Specifically, the AVC Group which currently is the merged brands of Niles Audio, Elan, and Xantech, will be expanded to include SpeakerCraft, Proficient, Panamax/Furman all under the same roof. Furthermore, Nortek’s former reorganizer – Mark Terry – has been reorganized out of the newly restructured company.

[Read more…] about BREAKING NEWS: Nortek Reorganizes Its Reorganization

New York’s Huge ‘Alliance Expo’ Dealer Show is Next Week

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Audio Associates Dealer Show
Audio Associates Dealer Show

<May 16, 2012> New York manufacturers representative firm Audio Associates tells me that they are ready-to-go for their huge dealer show called “Alliance Expo 2012 – Partnering for a Stronger Tomorrow” scheduled for next week and originally announced in the ALERT last month. Launching this coming Tuesday, May 22nd and wrapping up Wednesday, the company says they are pulling out all of the stops for another mega-event, taking place this year at the Hilton Doubletree Hotel in Newark, NJ. [Read more…] about New York’s Huge ‘Alliance Expo’ Dealer Show is Next Week