Two key banks in Japan announced yesterday that they will extend Sharp Corp. an additional line of credit of ¥150 billion ($1.5 billion) over and above all of their other financing. Mizuho Corporate Bank and Bank of Tokyo-Mitsubishi UFJ originally had considered a ¥100 billion line, but ultimately decided to up the ante with each bank kicking in ¥75 billion – a real lifeline to the struggling electronics manufacturer.
Archives for May 9, 2013
Kathy Gornik: Why I Sold Thiel…
*Strata-gee.com EXCLUSIVE*
Much has been written on the changes at Lexington, KY-based Thiel Audio Products Company (Thiel) in the wake of its purchase by a group of Tennessee investors that we first reported last November. Shortly after their acquisition, strata-gee.com was invited to speak with Bill Thomas – one of those Tennessee investors and now the new CEO of Thiel Audio. And a couple of months after that, we had the opportunity to speak with new Thiel interim COO and Board member Bob Brown.
But many Thiel-related reps and dealers kept asking us about co-founder and former President Kathy Gornik. Some of this curiosity was related to rumors that Gornik had been forcibly removed from the respected high-end loudspeaker company that she helped found. And some of the interest centered around an unanswered question, not covered by any of the press (including Strata-gee.com) as to why Gornik decided to sell the company.
Now, Gornik has granted Strata-gee.com an exclusive interview…to tell her side of the story… [Read more…] about Kathy Gornik: Why I Sold Thiel…
Though Fiscal 2013 Results are Better Than Expected, Yamaha Replaces President
Last week, Yamaha Corporation released its financial results for Fiscal Year 2013 (the period ending March 31, 2013) giving the stock market and financial analysts a pleasant surprise as final numbers handily beat both their February 6th revised forecast and last year’s results. Thanks to a strong fourth quarter, Yamaha hit sales for the year of ¥366.9 billion ($3.7 billion) or 2.9% more than last year’s ¥356.6 billion. Yamaha also reported increased operating income, ordinary income, and net income.
And yet, surprisingly, the company also announced it would replace its President and Representative Director at the upcoming directors meeting to be held on June 26, 2013. Why?
