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Management

Nortek’s Struggling AV Division Forces Company to Book a $46.2 Million Q2 Net Loss; Burke is Out

August 5, 2014 by Ted 9 Comments

Sean Burke, Head of Technology Solutions Group is Leaving Company

Nortek LogoNortek Inc. released yesterday the financial results for their fiscal second quarter and first half showing a solid overall sales gain of 13.9% to $718.6 million, up from $630.7 million in the same quarter last year. Sales increased at a more moderate pace for the first half, coming in at $1.266 billion or 10.1% higher than the $1.149 booked last year.

But in a bit of a surprise, the company chose to break out the results of their AV division separately – clearly exposing what many had suspected for  a couple of years now – this division is in serious trouble. Even more surprising, in a filing with the SEC, the company revealed that Sean Burke, Group President of the Technology Solutions Group is leaving the company “to pursue other interests.”

See more on just what Nortek’s latest financial results show… [Read more…] about Nortek’s Struggling AV Division Forces Company to Book a $46.2 Million Q2 Net Loss; Burke is Out

Filed Under: Brands, Financial, Management, Manufacturers, News, Pivot Point, Strategy Tagged With: Almon Hall, AV, Michael J. Clarke, Nortek, Sean Burke

Thiel’s New CEO Says Company ‘Struck a Chord’ Compelling Him to Join

July 31, 2014 by Ted 10 Comments

Thiel CEO John Wittman

In a telephone interview today, new Thiel Audio CEO John Wittman told us that the company “struck a chord with me personally,” virtually compelling him to take over as CEO after the owners’ invited him to look at the company last winter. Over the course of an interview that went on for more than a hour, Wittman candidly shared his thoughts and perspectives in an enthusiastic and – to the degree he felt appropriate – open manner.

See what Wittman had to say about where Thiel is at…and where it’s going… [Read more…] about Thiel’s New CEO Says Company ‘Struck a Chord’ Compelling Him to Join

Filed Under: Brands, Industry Trends, Management, Manufacturers, News, Pivot Point, Specialty, Strategy Tagged With: Jim Thiel, John Wittman, Paul Fisher, Thiel

Thiel Announces a Brand Relaunch…Again

July 24, 2014 by Ted Leave a Comment

BREAKING NEWS

Thiel logoThiel Audio dealers were surprised to receive an email Wednesday from the company announcing plans to – in their words – “revitalize” the storied audio brand. We last reported in April that the company had finally acknowledged to its dealers that it was moving its operations to Nashville, TN – after 38 years in Lexington, KY. This acknowledgement came one week after we reported to Strata-gee readers that the company planned to move.

Since then, the company has been silent. Now, this announcement sets out a new agenda for change – and it is an ambitious one.

See the many changes announced at Thiel… [Read more…] about Thiel Announces a Brand Relaunch…Again

Filed Under: Brands, Management, Manufacturers, News, Pivot Point, Strategy Tagged With: Bill Thomas, Jim Thiel, Mark Mason, Paul Fisher, Thiel

Marketers Continue to Shift B-to-B Advertising Dollars to Digital

July 23, 2014 by Ted Leave a Comment

Advertising Age logoWhether you’re a manufacturer/brand, distributor, rep…or even an integrator selling largely commercial installations…you are a business-to-business or B-to-B marketer. And you’re going to want to pay attention to this new data on marketing trends for B-to-B marketers.

New data released by Advertising Age shows a continued swing away from traditional media to digital media spending by B-to-B marketers. Some of the numbers from this new survey are eye-popping.

See more on Advertising Age’s new B-to-B marketing trends from their latest “Fact Pack”… [Read more…] about Marketers Continue to Shift B-to-B Advertising Dollars to Digital

Filed Under: Management, Marketing, News, Statistics, Strategy Tagged With: digital media

The One Buzzword That We Really Dislike

July 22, 2014 by Ted 3 Comments

Cover of new "Weird Al" Yankivic albumHave you seen any of the latest “Weird Al” Yankovic spoof videos from his newest album Mandatory Fun? One of them caught our eye as it was picked up by – are you ready for this – the Wall Street Journal. Set to one of our favorite Crosby, Stills, & Nash tunes, Suite: Judy Blue Eyes, this video, titled Mission Statement, unabashedly (and quite humorously) lampoons the ever-ubiquitous corporate-speak. [You can see the video below.]

But Weird Al missed a buzzword that we despise…and it is probably one you use… [Read more…] about The One Buzzword That We Really Dislike

Filed Under: Management, Marketing, Strategy Tagged With: buzzwords, cost-effective

Harman Acquires Headphone Maker Yurbuds

June 18, 2014 by Ted 4 Comments

Yurbuds logoHarman International Industries, Inc. announced today that is has acquired St. Louis-based Yurbuds, LLC., a manufacturer of headphones. Terms of the transaction were not disclosed. The acquisition seems surprising, given the fact that Harman already owns brands such as JBL and AKG that already offer headphones.

Why would a company that already offers headphones, acquire a headphone company? See more… [Read more…] about Harman Acquires Headphone Maker Yurbuds

Filed Under: Brands, Financial, Management, Manufacturers, News, Pivot Point, Strategy, Tech Trends Tagged With: AKG, Harman, JBL, Yurbuds

Layoffs Hit Velodyne’s Audio Division as Company Bets All on LIDAR

June 17, 2014 by Ted 1 Comment

BREAKING NEWS

Velodyne LogoMultiple sources are reporting that Velodyne Acoustics, Inc. – a once high-flying specialty subwoofer manufacturer – has had a significant layoff in its audio division last week as the company seeks to redeploy its resources full-scale behind its LIDAR business. The company, which is driven by its enigmatic founder, David Hall, is betting its future (betting the farm, some would say) on its LIDAR technology which is used in self-driving vehicles (such as Google’s).

See more on this dramatic shift in business by a former audio high-flyer… [Read more…] about Layoffs Hit Velodyne’s Audio Division as Company Bets All on LIDAR

Filed Under: Brands, Industry Trends, Management, Marketing, News, Pivot Point, Specialty, Strategy, Tech Trends Tagged With: David Hall, George Manlove, Lidar, PRO Group, subwoofers, Vann's, Velodyne

JVC Kenwood Takes Bold New Steps to Reconstruct Its Core DNA – Shaking Up Structure & Management

May 12, 2014 by Ted Leave a Comment

JVC Kenwood logoIn a regulatory filing this month, JVC Kenwood Corp. said it will take dramatic and bold steps to literally change its very core – the operating structure of the company – such that it fundamentally changes the way the company is run. This changing-our-DNA move marks a deep expansion of its previously announced business-spectrum initiatives to move away from its weakening consumer electronics businesses into more commercial enterprises by ensuring that the way it manages itself is completely changed as well.

See more on this surprising move in which JVC Kenwood doubles down on “change”… [Read more…] about JVC Kenwood Takes Bold New Steps to Reconstruct Its Core DNA – Shaking Up Structure & Management

Filed Under: Asian Connection, Brands, Management, Manufacturers, News, Pivot Point, Strategy Tagged With: JVC, JVC Kenwood, Kenwood

Nortek Q1 Sales Grow in All Major Segments, But AV Sales Continue to Decline

May 8, 2014 by Ted Leave a Comment

Nortek LogoNortek, Inc. released financial results for their fiscal first quarter this week. As a widely diversified provider of largely building-related products, the company noted marked improvement in several key areas over the same quarter last year. With an overall quarterly sales increase from $519.1 million last year to $550.1 million this year, sales increased 6%. But the company still lost money in the quarter – though the loss was less than last year.

Results for Norteck’s TECH segment continue a shift to security and AV continues to decline… [Read more…] about Nortek Q1 Sales Grow in All Major Segments, But AV Sales Continue to Decline

Filed Under: Brands, Financial, Management, Manufacturers, News, Strategy Tagged With: Core Brands, Michael J. Clarke, Nortek

A Recent Report Says TiO Has ‘Fallen on Some Hard Times’ But Their CEO Disputes It; What’s Going On?

May 6, 2014 by Ted 8 Comments

Photo from TiO website
This image, from TiO’s website, raises the question: Just what are we “turning on”?

This past Saturday, CEPro published a strongly worded report based on anonymous email sources saying Automated Control Technology Partners, Inc., the parent company of Turn it On (TiO), has “fallen on some hard times” and its “office doors were locked” and “employees haven’t been paid for months.” The article also said that the company is “filing for Chapter 11” [bankruptcy] and “that a huge number of employees have been laid off.” CEO Mike Anderson was quoted as disputing many of the points in the article.

We spoke with Anderson who told us – emphatically – that CEPro got it wrong. So what is really going on at TiO?… [Read more…] about A Recent Report Says TiO Has ‘Fallen on Some Hard Times’ But Their CEO Disputes It; What’s Going On?

Filed Under: Financial, Management, Manufacturers, News, Pivot Point, Strategy Tagged With: 3vNet, ACTP, Automated Control Technology Partners, Bill Beierwaltes, Colorado vNet, Mike Anderson, Turn it On. TiO

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Ted Green Bio

A former dealer, manufacturer, distributor & more. Focusing on business strategy, my goal is to help you make better decisions for greater success.

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