On Monday, Toshiba released their twice-delayed final financial data for the last fiscal year (ended March 2015) in what it undoubtedly hoped would be the first step to turning the page from a scandal-racked year. But forces out of their control conspire to keep them in the hot seat – with a regulatory agency threatening large fines and a major shareholder demanding the company sue its former executives.
Law
Toshiba Struggles to Get Past Troubles
Toshiba Corp. has been subjected to almost daily press stories and analyses in the Japanese media on their continued struggles in the wake of a huge accounting scandal at the formerly blue-chip powerhouse company. The scandal was likely large in terms of financial losses, but even larger in terms of decimating the reputation of the company and its management. To turn the situation around, the company must start to build a new reputation for reliability. It isn’t going to be easy…
New President, new board, secret ballets…strange stuff… [Read more…] about Toshiba Struggles to Get Past Troubles
Is HydraConnect Out of Business?
BREAKING NEWS
*STORY UPDATED* (See note below…)
It started innocently enough when we received calls and email messages asking us what we knew of what was going on at HydraConnect, the manufacturer of unique and useful HDMI matrixes and other devices. Rumors were swirling that the company was out of business. The plot thickened when we visited the HydraConnect website and found that it was down. Now we had a bit of a mystery. Phones at the company went straight to voicemail and we weren’t getting called back.
More twists and turns at the HDMI specialist company… [Read more…] about Is HydraConnect Out of Business?
A Bad Day at the Office for Apple: Stock Goes Cold, Investigation Gets Hot
Apple, Inc. released the financial results of their fiscal third quarter Tuesday and by most measures, it was good news. Revenues hit $49.6 billion with net profits coming in at a robust $10.7 billion. These results were well over the $37.4 billion and $7.7 billion respectively booked in the same quarter last year. Unit sales of iPhones grew a remarkable 35%, with iPhone revenues increasing 59% to a new quarterly record; sales in China more than doubled; service revenues hit a new record; and cash reserves are at an astounding $203 billion.
How did Wall Street react to all of this “good” news? The stock tanked. At one point Apple’s market value collapsed $60 billion as the stock dropped 7% in just a matter of minutes after the announcement. Yesterday, the stock closed down 5.2%.
See why this is happening…and why government investigators are in high gear… [Read more…] about A Bad Day at the Office for Apple: Stock Goes Cold, Investigation Gets Hot
LG Relents, Will Reduce Height of New HQ to Preserve Historic Palisades
See more on LG’s decision to finally become a responsible corporate citizen… [Read more…] about LG Relents, Will Reduce Height of New HQ to Preserve Historic Palisades
Apple Faces the Music – Multiple Investigations Launched
Just days after Apple, Inc. announced its plans to attempt to reassert its leading role in the music distribution and streaming businesses, we learn from the New York Times that two powerful state attorneys general in New York and Connecticut have launched an investigation into Apple’s music licensing practices. The purpose of the investigation is to determine if Apple has broken any antitrust laws in cutting deals that allegedly restrict music industry providers from offering their content on a free basis with other services.
See why there is suspicion of anti-competitive practices by Apple… [Read more…] about Apple Faces the Music – Multiple Investigations Launched
Backing Beats – Apple Launches Retaliatory Attack on Monster
BREAKING NEWS
Monster’s Noel Lee Talks to Us About Latest Lawsuit Developments
As many regular readers know, Strata-gee has been closely following the litigation between Monster, LLC and Beats Electronics, LLC. Although the matter is really just getting started, it appears to be getting really ugly, really quickly. Now we have learned that Apple, Inc. has taken several actions that, according to Monster CEO Noel Lee (who is known as the Head Monster), are pure retaliation over this lawsuit – even though Monster did not sue Apple.
See more on Apple’s actions against Monster that it says are retaliatory… [Read more…] about Backing Beats – Apple Launches Retaliatory Attack on Monster
Bad Omen? Beats Wins Round 1 of Monster vs. Beats
Judge Agrees with Beats, Transfers Case to Home Turf in LA
We first told you about Monster, LLC and CEO “Head Monster” Noel Lee filing a lawsuit against Beats, LLC alleging fraudulent practices back in January, in a post that was titled in part “Risky Business.” Perhaps now Monster is getting a taste of the riskiness of taking matters to court as they have lost their first battle, on the first issue – where the case would be heard.
Learn more about why the judge found against Monster, and for Beats, on this first issue… [Read more…] about Bad Omen? Beats Wins Round 1 of Monster vs. Beats
Kaleidescape Hires Reps
We’ve been hearing for weeks about an effort by media server marker Kaleidescape to quietly hire sales representative companies around the country. Not quiet anymore, Kaleidescape officially announced today that it has augmented its direct sales force with a group of eight independent sales representative companies.
See more on this widely anticipated development… [Read more…] about Kaleidescape Hires Reps
Sonos Shoots Back; D&M Filings ‘Not Entirely Accurate’
The legal battle in the patent infringement case filed by Sonos, Inc. (Sonos) against D&M Holdings, Inc. dba The D+M Group, D&M Hodlings U.S. Inc., and Denon Electronics (USA), LLC (D&M) continues to heat up as lawyers launch new salvos against each other alleging – among other things – improper actions. In February, we reported that D&M’s legal team had filed a Motion to Disqualify the Sonos legal team, with the astonishing allegation that at one time these lawyers worked for both Sonos and D&M at the same time.
