Management

In Unusual Saturday Statement, B&W Says, In Effect, We’ll Speak for Ourselves, Thank You

June 13, 2020 by Ted 6 Comments

Just ‘Early Stage Talks’ to ‘Explore Opportunities;’ No Mention of Agreement

Late in the day yesterday (Friday), Strata-gee told you about an announcement from top multi-brand audio provider Sound United, saying they had reached a preliminary agreement to acquire Bowers & Wilkins (B&W), a leading high-performance, high end audio loudspeaker brand. It was big news that represented another step in a long saga of B&W looking for a new home, after a previous deal with EVA Automation and its CEO Gideon Yu fell completely apart.

Now as I write this today, B&W has released a rare Saturday morning press statement that gives the same news – but from the B&W side of the deal…a statement that seems shaded differently than the Sound United characterization.

And BAM! Just Like That, Savant Acquires GE Lighting to Become a Major Lighting Supplier

May 28, 2020 by Ted Leave a Comment

WSJ Says Deal Valued at Around $250M

On Wednesday, we learned that Savant Systems Inc. (Savant), has acquired the lighting business from none other than the mighty GE. Terms of the transaction were not released, but the Wall Street Journal reports that “the transaction valued the unit at around $250 million, according to a person familiar with the matter.” GE has been a major lighting provider for over a hundred years.

See more on this HUGE Savant & GE deal…

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Epidemic Engulfs Emerald Expositions; Reports Massive Q1 Loss of $570.1M

May 11, 2020 by Ted 7 Comments

CFO Admits Company Looking at Possibility of No More Shows in 2020 – and Fewer in 2021

Emerald Holding Inc., formerly Emerald Expositions Events, Inc. (NYSE:EEX), has released their fiscal 2020 first quarter results and the organization makes no bones about it – it has been hit, and hit hard, by the COVID-19 pandemic. The company announced that in the first quarter of fiscal 2020 – the period ending March 31, 2020 – sales declined 27.4% to $99.7 million and the company had the biggest net loss in its history, losing $570.1 million.

See more on the dire situation at Emerald…

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Sonos Hits Sour Note – Fiscal Q2 Sales Drop 17%, Losses Hit $52.3 Million

May 6, 2020 by Ted 1 Comment

CEO Says Direct-to-Consumer Sales Were Big, Launching Three New Models

Sonos Inc. announced Wednesday the results of their fiscal second quarter, a quarter that CEO Patrick Spence called “challenging.” The company saw a double-digit sales decline of 17% to $175.1 million from $210.2 million in the same quarter in 2019. Worse, net losses more than doubled to $52.3 million – 129% worse than the net loss of $22.8 million in Q2 last year.

Still, Spence sounded upbeat in a letter to investors and says he is “confident that the actions we are taking today will set us up for long-term success and the continued tremendous opportunity ahead.”

Learn more about the sour Sonos results in Q2…

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Emerald Expositions Announces Death of Sally Shankland, Its Most Recent CEO

April 23, 2020 by Ted Leave a Comment

Emerald Expositions announced this week that Sally Shankland, it most recent CEO who had been hired in June 2019 to replace resigning CEO David Loechner, has died following her month’s long battle with cancer. The company says Shankland passed away at home peacefully.

See more on this news about Shankland…

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After Nearly 18 Years, SVP & GM Doug Cole Leaves Universal Remote Control

April 16, 2020 by Ted Leave a Comment

Doug Cole, former SVP and GM of Universal Remote Control URC

For several days now, multiple sources have reached out to Strata-gee to report that Doug Cole, Senior Vice President and General Manager of Universal Remote Control – better known as URC – has left the company. I have confirmed his exit, a decision that marks the end of a long career leading the organization’s sales and marketing efforts.

See more on Cole’s exit from Universal Remote Control…

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Fear Factor: Consumers’ Fear Suggests a Slow Recovery from Recession

April 16, 2020 by Ted 2 Comments

Photo from Manhattan showing stores closed due to recession and very few people on the street — [Photo: Juan Arredondo, New York Times]

COVID-19 Recession: Will Rebound be a V…U…or W?

The Coronavirus pandemic has hit America big time. With a head-spinning swiftness, the epidemic swept across the country with ruthless efficiency – first impacting densely populated urban areas (NYC, LA, Chicago), then spreading its tentacles throughout more sparsely populated regions of the country. It has extracted a devastating human toll, striking fear in the hearts of consumers, and brought a once bustling economy to a screeching halt…plunging it into recession.

We have never seen anything quite like this and for business owners and managers…we are truly in uncharted territory. With almost 85% of all Americans now subject to some form of Shelter-In-Place or Stay-At-Home order, everything except essential services, such as grocery stores and pharmacies, has been closed down – and most companies have seen their sales disappear. Will a fearful consumer complicate our recovery from this recession?

See more on what kind of rebound to expect…

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As Overall Economy Hit by COVID-19, Layoffs Hit Tech as Well

April 2, 2020 by Ted Leave a Comment

AudioQuest Announces Downsizing

A relatively large number of readers and industry sources have reached out to Strata-gee with word of cutbacks and layoffs at various industry brands – as the impact of coronavirus (COVID-19) takes its toll on the U.S. economy. As was reported in a post just a few days ago, jobless claims jumped dramatically – by 33% in just one month – only to be exceeded a few days later by a massive jump in claims of 3 million more unemployed workers.

Now we are beginning to see layoffs in Tech…

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B&W Letter to Dealers Confirms Gideon Yu and Greg Lee Leave the Board; Questions Remain

March 5, 2020 by Ted Leave a Comment

High performance loudspeaker manufacturer Bowers and Wilkins (B&W) sent a letter to their dealers last week addressing issues that have arisen recently, especially as they pertain to the management of the company. As is often the case with this company, the letter answered some questions…but raised others.

See more on B&W’s dealer letter…

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Leave Sony for Sound United?? Frank Sterns Senses Opportunity

February 26, 2020 by Ted 1 Comment

When news first appeared two months ago that Frank Sterns was making the move from Sony to Sound United, many folks asked…why? At Sony, he was a top executive with a global CE leader positioned at the top of the industry food chain…a backbone-of-the-industry brand…the inventor of many of the core technologies used in just about every home in America today. Yes, Sound United is a global player as well, but in a much more limited way…and focused exclusively in only one area…audio.

Sterns Tells Strata-gee Readers What He Saw at Sound United…

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Management

In Unusual Saturday Statement, B&W Says, In Effect, We’ll Speak for Ourselves, Thank You

Just ‘Early Stage Talks’ to ‘Explore Opportunities;’ No Mention of Agreement

Read more on B&W take on the situation with Sound United…

And BAM! Just Like That, Savant Acquires GE Lighting to Become a Major Lighting Supplier