We learned last week that talks between Gibson Brands and deal making king KKR Credit Advisors fell apart in a dispute over “the appropriate consideration for the various parties involved,” according to a statement from Gibson Brands. As yet another bail-out opportunity slips by them, Gibson Brands sees their options narrowing, with an August deadline on a required financial restructuring of more than $500 million of debt rapidly approaching.
Management
Newly Flush Sony’s Smart Employee Pay Strategy
Big Raises and Record Bonuses for Sony Employees in 2018
Sony Corp. is said to be planning to raise their employees pay rates by a very substantial 5 percent – and to pay record bonuses, according to a report by the Japan Times. This move is seen as a smart strategy by the company, newly flush with record profits after their successful turnaround by outgoing CEO Kaz Hirai, as it battles to secure top talent in a highly competitive hiring environment.
See more on how Sony is pressing their advantage to attract top talent… [Read more…] about Newly Flush Sony’s Smart Employee Pay Strategy
Far From Legally Dead, Monster Slugs Back at Beats
Beats Gets More Awarded; But Monster Wins a Key Ruling Too
When we last visited this legal clash of the titans, a jury had just found that Monster must pay Beats nearly $8 million to reimburse them for the legal expenses in fighting the lawsuit that Monster had brought against them in 2015. Now, we have learned that the judge in that case has increased the judgment with an additional “directed” verdict. And in the matter of a separate case, Beats vs. Monster filed late last year, Monster has filed a countersuit and won a key ruling.
This Beats and Monster slugfest goes on… [Read more…] about Far From Legally Dead, Monster Slugs Back at Beats
Gibson Sells One Division & Cuts Staff in Another
The news and events surrounding troubled guitar and consumer electronics company Gibson Brands, Inc. seem to be moving at a rapid pace with almost daily revelations as the company struggles to survive ahead of a massive debt due-date just a few short months away. We learned over the last few days that Gibson has sold their recently shuttered Cakewalk Inc. division and laid off staff in their famous Custom Shop operation.
See more about the continued dramatic developments surrounding Gibson… [Read more…] about Gibson Sells One Division & Cuts Staff in Another
CEO Says Gibson Will Dump Brands
Financials Show Sales & Profits Continue to Slide
Gibson Brands CEO Henry Juszkiewicz continues to profess confidence that the company will be able to successfully refinance their over $500 million debt before a mid-year maturation comes due. Telling the Nashville Post that the company is going through a little “spring cleaning,” Juszkiewicz says the company already dropped their Cakewalk music software group, and other brands in their portfolio are next to go. But a financial report to bondholders shows continued deterioration of both sales and profits, suggesting that simply pruning a few brands from the portfolio may not be enough to attract new investors or lenders.
See more on the dire situation at Gibson Brands… [Read more…] about CEO Says Gibson Will Dump Brands
Thiel is Toast, Specialty Audio Takes Another Hit
After a tumultuous five-year period, which began in 2012 when Thiel was sold to Tennessee private investor David B. Griffin, we can now confirm that Thiel Audio has been closed for good. Failing some kind of 11th hour rescue, another great American audio brand will be relegated to the dustbin of history.
See what we know of the closing of Thiel Audio… [Read more…] about Thiel is Toast, Specialty Audio Takes Another Hit
Strata-SERIES: RMR – Series Wrap-Up
One month ago, on December 6th, Strata-gee launched a series of articles on recurring monthly revenue (RMR) programs based on research conducted for a cover story in the December issue of Residential Systems Magazine. That Series, called Strata-SERIES: RMR, ran the entire month of December and into January with a total of five posts of content, plus an additional Series introduction and this Series wrap-up.
What did we learn about RMR? Much! Read on… [Read more…] about Strata-SERIES: RMR – Series Wrap-Up
Strata-SERIES: RMR – Smart Help for a Quick Start in RMR
[NOTE: This post is part of a series of articles on recurring monthly revenue programs we call Strata-SERIES: RMR. It will likely make more sense to you if you start by reading our Series Introduction here… and then our Topic Introduction and First Installment here…]
Because he had worked with an alarm company for the last twenty years, Matt Walin of Costa Mesa, CA-based Brilliant AV was very familiar with the concept of RMR programs as it related to central station security system monitoring. But as it specifically relates to residential AV and home automation solutions, it was about two years ago when they began exploring the process of offering their clients some form of a maintenance agreement covering their system installations.
Residential AV RMR, it turned out, was a horse of an entirely different color… [Read more…] about Strata-SERIES: RMR – Smart Help for a Quick Start in RMR
Strata-SERIES: RMR – Reducing Truck Rolls by 82%
[NOTE: This post is part of a series of articles on recurring monthly revenue programs we call Strata-SERIES: RMR Programs. It will likely make more sense to you if you start by reading our Series Introduction here… and then our Topic Introduction and First Installment here…]
In our last installment, we learned how Ben Lentz and the team at Cyber Technology Group launched an RMR program designed to help their clients understand that sophisticated technology systems require regular maintenance – just like their cars, their pools, and their landscaping. By getting clients on their Client Care Program, which includes regular “wellness visits,” Cyber Tech saw their upgrade sales increase during these visits.
Like Cyber Tech, Ron Wanless of Technology Design Associates (locations in Washington and Oregon) had a slightly different motive for pursuing a recurring monthly revenue program. Little did he know that it was a pursuit that would result in fundamental changes in how they service their clients and run their business.
See how Technology Design Assocs. RMR program cut service costs… [Read more…] about Strata-SERIES: RMR – Reducing Truck Rolls by 82%
Gibson Cuts Debt Deal to Delay Payment Date
Gibson Brands has reached a deal with GSO Capital Partners, one of its existing lenders, in order to push back a loan payment by approximately two weeks to December 15th. The reason for the move was to try and time the payment such that it arrived later in the holiday season for better timing relative to their anticipated cash flow.
