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Creditor of EVA Automation Files Court Action to Force Them Into Bankruptcy

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Says EVA Automation Owes Them $30 Million

Last week, several sharp-eyed Strata-gee readers forwarded the news that was initially erroneously reported that EVA Automation had filed for bankruptcy in Northern California. Actually, a search of court records revealed that a creditor of EVA Automation – Top Victory Investments Limited – has filed an action with the United States Bankruptcy Court in Northern California seeking to force EVA Automation into bankruptcy. EVA Automation, as most Strata-gee readers well know, is a former majority owner of Bowers & Wilkins (B&W).

See more on the action against EVA Automation…

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Appeals Court Rules Against Monster & Noel Lee; They Must Pay Beats $14+Mil

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This long and complex series of intertwined legal actions between Monster LLC (and all other Monster related parties) and Beats Electronics LLC (and all other Beats related entities) seemed to be winding down. Back in 2016, I reported on the lower court ruling in favor of Beats who had filed several motions for summary judgment. It seemed as though this was the end, but in 2018, more actions ensued.

Now, 5 years in, have we reached the end?…

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Audio Advice Launches Free Home Theater Design Tool

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Audio Advice logo

Specialty AV retailer and e-commerce site Audio Advice today launched a comprehensive – and free – home theater design tool targeted for consumers looking to craft the perfect theater for their home. Featuring an interactive 3D interface, Audio Advice’s Home Theater Designer makes it fun and easy for consumers to create plans for an acoustically correct home theater system – including precise placement of speakers, TV or projector, and seating.

Learn more on the new Audio Advice design tool…

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Best Buy Blows Away Fiscal 2nd Quarter Estimates – Yet Its Stock Drops; Why?

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Best Buy store

Best Buy Co. Inc. (NYSE: BBY) had what appeared to be a big win this week, generating financial results that handily beat its fiscal second quarter estimates, driven largely by a huge 242.2% increase in ecommerce sales. Their fiscal second quarter, the 13-week period that ended August 1, 2020 was big, coming in at $9.910 billion – even in a COVID-19 ravaged quarter – fully 4% higher than the $9.536 billion in the same quarter in 2019.

And yet, the company’s stock value DROPPED on the announcement of their quarterly results. And in after-hours trading, Best Buy stock lost as much as 5% of its value. Why did that happen?

See why Best Buy stock got hit, on good news…

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Sonos Adds Top Microsoft Executive to Its Board of Directors

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Photo of Sonos One

Sonos, Inc. (NASDAQ: SONO) announced this week that they are adding a new member to their Board of Directors. In fact, they even increased the size of the Board to make room for this new addition. The news surprised – and impressed – many market observers, as the person they are adding is Panos Panay, a top Microsoft Corp. executive. You see, if you are not familiar with Panay, there is something special about his background that makes him an intriguing addition to the Sonos Board.

Learn more about this Sonos recruitment…

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Housing’s On Fire – Housing Starts Jump 22.6% in July

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housing construction

By almost any measure, the housing market is in a major rebound, with the U.S. Commerce Department reporting on Tuesday that residential construction starts jumped an impressive 22.6% in July. This is the largest jump in housing starts in almost four years, according to a report by Reuters.

Learn more on the rebound of housing starts…

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Onkyo Closes US Subsidiary, Terminates Dealers, and Outsources Distribution to Klipsch

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Image from Onkyo Website

A Strangely Retroactive Notification

Last week, a letter was sent to all Onkyo dealers in the United States notifying them that their dealer agreements were being terminated. The reason for this termination? Onkyo USA Corporation no longer exists and therefore can no longer serve them. Don’t miss the significance of this historic moment – for the first time in 45-years there is no Onkyo subsidiary in the U.S., once the largest market for parent Onkyo Pioneer Corporation (OPC) of Osaka, Japan.

See more about this turn of events at Onkyo…

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Small Headphone Specialist Koss Corp. Attempts to Slay Giants Apple, Bose & Others in Court

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Milwaukee, WI based Koss Corporation (NASDAQ:KOSS) last month launched a significant litigation effort against several major industry brands in an effort to assert and protect its IP portfolio rights. On July 22, 2020, Koss filed lawsuits against each of Apple, Inc., Bose Corporation, PEAG LLC dba JLAB Audio, Plantronics, Inc., and Skullcandy, Inc. Each of these auspicious brands, Koss says, are infringing on their patents covering wireless headphones and speakers.

See more on this audacious move by Koss…

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Making Space for Onkyo Brands, Voxx Announces Subsidiary Reorganization

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Voxx International logo

Voxx Expects Big Growth; That May Be a Bigger Challenge Than Anticipated

As part of an internal restructuring to accommodate their recent acquisition of the distribution rights to certain Onkyo brands, Voxx International Corporation announced this week that it has renamed the existing Klipsch Holding LLC to the rather generically named Premium Audio Company LLC. This is just the first change, as I’ve learned more announcements are just around the corner.

See more on the Voxx & Klipsch plans for Onkyo…

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Corp. Comms. Expert Crestron Launches Flex MM for Growing WFA* Future

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*Work From Anywhere

By now, most in the industry know that Crestron Electronics, the widely renowned luxury residential electronics systems manufacturer, is also a large major supplier of high quality and mission critical solutions for the corporate commercial and industrial markets. Today, the company is announcing that their two divisions worked together to create a new product called the Flex MM – a unique, flexible, unified communications solution that is just about perfect for the new Work From Home…or as Creston likes to call it…the Work from Anywhere…remotely distributed workforce.

See more on this new solution from Crestron…

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