Gibson Guitar Corp., a manufacturer of musical instruments and significant shareholder in Onkyo Corp. and majority owner of Onkyo USA, has entered into a “Criminal Enforcement Agreement” with the U.S. Department of Justice settling matters and circumstances surrounding government allegations of their illegal purchase and importation of woods and materials protected by environmental regulations and laws. As part of their settlement, Gibson admits the government’s allegations are true, agrees to pay a penalty of $300,000, agrees to an additional “community service” payment of $50,000 to the National Fish and Wildlife Foundation, implements a strict compliance program (approved by DOJ enforcers) to prevent future violations, and relinquishes claim to more than $260,000 worth of government-seized illegally imported materials. [Read more…] about Gibson Guitar Admits It Broke the Law; Settles with DOJ to Avoid Criminal Prosecution
Archives for August 8, 2012
Did AudioXpert’s Launch Succeed in ‘Exceeding Expectations’ as Their Tag Line Promises?
Last month, we reported on the pre-launch of a new brand…the rather boldly named AudioXperts – founded by well-known industry veteran, Eli Harary and the team of sales, marketing, engineering, and product specialists he assembled. This pre-launch announcement was then followed-up by an official launch at a press event in Manhattan on Tuesday of this week. For a lot of reasons, this was a notable event – not the least of which is that there are very few new companies launching in the current incredibly difficult industry environment. But this “birth of a brand” also – for a number of reasons – set a very high bar for expectations related to its launch, which drew a substantial press contingent.