Strategy in TECH...
Our phones and email lit up over the last few days as word spread that Nortek Security and Control has fired all of the remaining Core Brands reps in the U.S., according to multiple sources. The timing of the terminations over the holidays only seems to add a sense of heartlessness to the action….a real-life ‘bah humbug’ that leaves the reps feeling cold.
Mastercard’s SpendingPulse retail shopping survey reports a robust increase of 5.1% for holiday sales this year – well over the expectations of many trying to handicap the shopping season. In fact, according to MasterCard, this is the biggest holiday sales increase in the last six years. But not every category is celebrating. And overall retail trends in 2018 offered some troubling results.
Last week, I noted the top posts on Strata-gee based on page views – quite simply, those articles that attracted the most eyeballs. We could have called that post – the Readers Choice Awards…as these were the stories that…collectively…so many of you read.
Now, I’d like to share with you those stories that I think are significant or important stories – or themes, really – even if they were not the most read. So this version I’m calling the Editor’s Choice for Top 2018 Stories.
Calling him one of NAD’s “foundational personalities,” Lenbrook announced last week the passing of Björn Erik Edvardsen. Edvardsen was not as well-known here in the United States as he was in Europe, but was considered by those close to NAD as a key engineer instrumental to the company’s long term success.
As we wrap-up another year at Strata-gee, I have to say that 2018 turned out to be pretty remarkable. Hundreds of stories were published over a wide range of topics. One theme that seemed to catch readers’ attention was the continued strain on specialty audio companies – particularly those who had been acquired by private equity groups. We saw our share of drama and innovation – with companies making bold moves, some of which worked out…and others that didn’t.
As I write this on Wednesday, December 19th the stock market has closed down 351.98 points or nearly 1.5% to its lowest level of the year, according to CNBC. The broader S&P 500 Index also closed at a 2018 low. But as bad as this news is, perhaps even more concerning are two key indicators for the housing market – single-family housing starts and homebuilder sentiment – both of which showed disappointing results.
I have to admit, Strata-gee was considering moving on from its Gibson Brands (Gibson Guitar) coverage, first started in 2012 when the company made several acquisitions as part of an ill-advised foray into the consumer electronics business. As delineated in our copious coverage, Gibson CEO Henry Juszkiewicz turned to OPM (other people’s money) loading the company up with over half a billion dollars in debt to pursue a business in which the company had no expertise…ultimately resulting in Gibson’s bankruptcy filing in May of this year.
Gibson’s major creditors banded together, put together what some would call a pre-packaged bankruptcy plan and looked as though they would exit bankruptcy late November/early December. They were wrong. As they tried to power out of bankruptcy, they hit a brick wall – the United States Trustee who has filed a serious objection to their motion to exit bankruptcy.
A smart speaker that argues like family…virtual assistant devices that understand your mood at any moment you wish to speak with and use them – budding futurists are predicting these 2019 consumer technology trends and more as part of a new report from Ericsson’s ConsumerLab consumer research division. The new report, logically titled the 10 Hot Consumer Trends 2019 is based on the insights and predictions of 5, 097 global advanced internet users in metro markets that demographically represent nearly 34 million early technology adopters.
