CEDIA has wrapped up the election process for three open board seats that we first told you about here in a post from September. There were a total of seven candidates vying for three open slots. The election is over and ladies and gentlemen we have a winner, er, three winners.
Management
Gibson Brands Continues to Show Signs of Strain
Downsizing Factory & Dilution of Onkyo Ownership
Recent developments have thrust Gibson Brands back into the spotlight once again – a spot that CEO Henry Juszkiewicz doesn’t particularly enjoy, unless he’s there on his own terms. But this time, two tidbits of news have conspired to bring Gibson, and their financial challenges to the fore. And as we try to digest all of this, it’s clear that Gibson is continuing to show signs of strain due to sluggish results from its aggressive diversification into consumer electronics jeopardizing its ability to deal with looming huge debt payments on the loans used to acquire CE brands.
See the news that shines a light on Gibson’s troubled financial position… [Read more…] about Gibson Brands Continues to Show Signs of Strain
Confirmed: B&W Closes Classé HQ; Staff Dismissed
We have now confirmed that at the end of the day last Friday, October 6th, the Classé headquarters facility was in fact closed by Bowers & Wilkins (B&W) for the last time and all remaining employees were dismissed. This move is a sad and sobering end to a once proud brand celebrated by many audiophiles as one of the finest performing lines of high-end electronics available.
See more of what we know about the closing of Classé… [Read more…] about Confirmed: B&W Closes Classé HQ; Staff Dismissed
Case Closed: Classé Closing October 6th
Multiple sources are telling us that on Friday, October 6th, the Montreal headquarters of Classé will close their doors for the last time and all remaining employees will be let go. This includes the dismissal of Classé President Dave Nauber, who has been with the company since 2002. Classé is part of the B&W Group, which itself is going through a major restructuring in the wake of the dismissal of President Doug Henderson as we reported to you back in July.
See more on what we’ve learned about the situation at Classé… [Read more…] about Case Closed: Classé Closing October 6th
Is Strata-gee Tolerating a Violation of Its Comment Policy?
Recently, we were publicly called out on Twitter with a somewhat snarky tweet about the Strata-gee “Comment Policy.” Or rather, to be more precise, a tweet appeared that slyly inferred that our policy was toothless. This tweet was in response to a social media post we had made promoting our article titled What We’ve Discovered about CEDIA’s Sale of the Show.
It wasn’t the article that upset the Twitter poster, but rather, it was apparently a comment placed on that article that he appeared to feel violated our Comment Policy. So, let’s talk about that…
Did a comment get published in violation of Strata-gee policy?… [Read more…] about Is Strata-gee Tolerating a Violation of Its Comment Policy?
Is Gibson Brands Headed for a Default?
Moody’s Hits Gibson Brands with Another Credit Downgrade
Moody’s Investors Service, one of the largest credit rating services in the world, has downgraded the credit rating for Gibson Brands, the Nashville-based parent of Gibson Guitar, Onkyo, Teac, KRK, Philips, Stanton and more. Moody’s has set their rating on Gibson Brands debt to Caa3, down one step from Caa2.
The move caused Wall Street investment analyst The Street to raise the specter of the possibility of Gibson Brands defaulting on their debt.
See why Moody’s says the Gibson Brands situation is unsustainable… [Read more…] about Is Gibson Brands Headed for a Default?
On Eve of Last CEDIA-Produced Show, Are We at a Turning Point?
What a weird time it is for CEDIA members. We are about to head to San Diego in a couple of weeks for the last-ever CEDIA show produced by CEDIA, after which we are losing the greatest revenue-generator for the organization…we have no CEO (just a temporary fill-in) and the reason for the previous CEO’s exit has never been explained…we have been globalized, the benefits of which to American members aren’t exactly clear…we are awaiting a new strategic plan which is being crafted by a consultant in England…and the organization is about to spend some $14 million to build a new building before we even have the strategic plan to tell us if that makes any sense.
It seems as though the organization is at some kind of a turning point. But are things turning up, or down? We talked to some leading industry executives to get their perspective on what’s going on at CEDIA.
See what some are saying about the direction of CEDIA… [Read more…] about On Eve of Last CEDIA-Produced Show, Are We at a Turning Point?
Thiel Audio’s New CEO, Elyse McKenna, Talks to Strata-Gee
New CEO Outlines a New Future for the 40-Year Old Brand
You practically need a scorecard to keep track of the revolving group of Chief Executive Officers (CEOs) that have come and gone from Nashville-based Thiel Audio. The specialty speaker company has had five CEOs in four years – leading to an unending series of disjointed actions from a disconnected group of high-powered executives, each with their own vision of where to take the company.
Now it is new Thiel CEO Elyse McKenna’s turn…and she has a plan… [Read more…] about Thiel Audio’s New CEO, Elyse McKenna, Talks to Strata-Gee
B&H Photo Pays $3.2M to Settle Federal Charges
BREAKING NEWS
Just over a year ago, we told you about the Federal government bringing charges against popular retailer B&H Foto & Electronics Corp., better known as B&H Photo Video, alleging discrimination, bias, and harassment of workers at its Brooklyn Navy Yard warehouse. Filed by the U.S. Department of Labor’s Office of Federal Contract Compliance Programs, the action by the government told a seamy tale of material mistreatment of certain employees at the company, a Federal contractor subject to specific rules governing treatment of workers.
See more on the costly conclusion of the matter by B&H… [Read more…] about B&H Photo Pays $3.2M to Settle Federal Charges
Huge Management Transition at Lenbrook; End of an Era
Lenbrook International announced this week a major transition in their management team in what it said was a carefully thought-out “succession plan.” Lenbrook, parent company to the Bluesound, NAD, and PSB brands, will restructure their senior management team in the wake of a form of retirement of two of its most prominent leaders – Lenbrook Americas President & CEO Dean Miller; and Chief Brand Officer John Banks. It is not an overstatement to call this the end of one era and the beginning of a new one.
