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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.

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Monster’s Cable-less Future

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Photo of Central Hall of Alliance Expo Showing Monster Cable Display
Monster's presence at this week's Alliance Expo

This week at the Alliance Expo 2012 being held in Newark, NJ by Audio Associates and their vendors, Monster (formerly Monster Cable) had a large presence with a booth that stretched down one wall, across a corner, and along another wall with an impressive showing of their product line. The Monster presence included those products for which they are best known – cables and headphones, but perhaps even more impressive than that – they demonstrated some of their new wireless technologies and systems…pointing towards a wireless future. [Read more…] about Monster’s Cable-less Future

Nortek’s Net Losses Continue – And Continue to Improve

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<May 16, 2012> Late last week Nortek Inc. released the results of its fiscal first quarter or the period that Nortek's Headquartersended March 31, 2012. Nortek – parent company to venerable industry brands such as Niles Audio, Speakercraft, Xantech, Elan, and more – showed a 7% sales increase in the quarter to $522.8 million as compared to $488.6 million in the year before. And while the company continued to book a net loss in the first quarter, it clearly showed solid improvement in several areas…including a dramatically reduced net loss of $1.2 million as compared to the same quarter last year when the net loss was $21.1 million. [Read more…] about Nortek’s Net Losses Continue – And Continue to Improve

For the First Time in Years, Residential Construction Forecast is Optimistic; But Cautiously So

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<April 25, 2012> The National Association of Home Builders (NAHB) held their annual Spring NAHB LogoConstruction Forecast webinar for members of the press today, and the organization’s forecasts were decidedly – if cautiously – optimistic. Forecasting rebounding growth in several important categories, the NAHB is clearly suggesting that better days are ahead. [Read more…] about For the First Time in Years, Residential Construction Forecast is Optimistic; But Cautiously So

Best Buy Reveals List of Stores to be Closed

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Best Buy Store<April 18, 2012> On Monday, Best Buy revealed the specific store locations it planned to close as previously announced by former CEO Brian Dunn, just days before he unexpectedly resigned under potentially scandalous circumstances. In the wake of reporting disappointing financial results, Dunn had announced – among other things – that the company would shutter 50 of its big box superstores, but did not identify specifically which store locations would close. [Read more…] about Best Buy Reveals List of Stores to be Closed

Nortek’s Losses Increased in 2011, But Company Says Q4 Results are Encouraging

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Nortek's Headquarters<April 4, 2012> In financial results filed with the SEC at the end of last week, Nortek, Inc. said fiscal year 2011 (year ending December 31, 2011) saw a substantial sales increase of 12.7% from $1.899 billion in 2010 to $2.141 billion last year. However, the company reported that losses also increased from 2010’s $13.4 million to last year’s $55.9 million. Still, the company feels there’s cause for optimism as fourth quarter results improved substantially over the fourth quarter of 2010. [Read more…] about Nortek’s Losses Increased in 2011, But Company Says Q4 Results are Encouraging

University Offering Free Training to Those Who Will Start a Tech Company in Michigan

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Kettering Seal<March 28, 2012> Kettering University is offering free training for technology entrepreneurs interested in starting tech companies in the State of Michigan. The training, called their TechWorks program, begins in April and runs through May. [Read more…] about University Offering Free Training to Those Who Will Start a Tech Company in Michigan

Housing Market Data is Mixed – Why That Really is Good News

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A house sits for sale in North Aurora, Illinois<March 21, 2012> An investment expert once told me that Wall Street is most dangerous when everyone agrees on the market’s direction – either up or down (bulls or bears in Wall Street parlance.) If everyone says the market is going up – then the market is likely a bubble headed towards a burst. If everyone says its going down, then we’re probably in a crash and hard times are ahead. No, it’s safest when investment and economic experts – and the underlying data they rely upon – is mixed…which is exactly where the housing market is right now. [Read more…] about Housing Market Data is Mixed – Why That Really is Good News

CE Shipments in Japan Drop Almost 34%, The Sixth Straight Month of Decline

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<February 22, 2012> Shipments of consumer electronics products in Japan destined for domestic consumption dropped an amazing 33.9% for the month of January according to data from the Japan Electronics  and Information Technology Industries Association. [Read more…] about CE Shipments in Japan Drop Almost 34%, The Sixth Straight Month of Decline

Hiring Managers Reveal Interview Mistakes, and Those That Were ‘Most Memorable’

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careerbuilder_logo<February 22, 2012> You’d think in this tough economy with high unemployment, job seekers lucky enough to score that much-needed interview would be on their best behavior…wouldn’t you? Well, then the results of the latest CareerBuilder survey of hiring managers will probably make you, like it did me, shake your head in disbelief. [Read more…] about Hiring Managers Reveal Interview Mistakes, and Those That Were ‘Most Memorable’