Have 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.]
Management
Harman Acquires Headphone Maker Yurbuds
Harman 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
Layoffs Hit Velodyne’s Audio Division as Company Bets All on LIDAR
BREAKING NEWS
Multiple 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
JVC Kenwood Takes Bold New Steps to Reconstruct Its Core DNA – Shaking Up Structure & Management
In 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
Nortek Q1 Sales Grow in All Major Segments, But AV Sales Continue to Decline
Nortek, 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
A Recent Report Says TiO Has ‘Fallen on Some Hard Times’ But Their CEO Disputes It; What’s Going 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?
Are Investors Doing as Well as Ingram Micro Executives?
For many tech companies, the industry has never been more challenging than the period following the end of the 2007 economic recession. For most of us, we put on a brave face and tell anyone who asks that everything is fine. But executives in public companies have the added challenge of having their performance publicly announced…often subjecting management to rebuke from angry investors.
For the last two years, however, most public companies on Wall Street have enjoyed a significant comeback. And this comeback has led to substantial increases in remuneration for company executives – Ingram Micro included. But who has done better – investors in the company’s stock…or the company management?
See our analysis on Ingram Micro executive compensation below…Hint: it’s not even close… [Read more…] about Are Investors Doing as Well as Ingram Micro Executives?
JVC Kenwood’s Early Retirement Solicitation Falls Short of Goal
JVC Kenwood Corporation announced the final results of their voluntary early retirement solicitation first announced late last year. This solicitation was offered as part of a comprehensive effort to turn around the company’s flagging fortunes and included many steps to cut overhead and improve profitability – such as this effort to cut employment by incentivizing employees to leave the company.
Did their program succeed? See the results below… [Read more…] about JVC Kenwood’s Early Retirement Solicitation Falls Short of Goal
Nortek Reports Uneven Fiscal Results; With A/V Biz in Decline, Security is TECH Segment’s Rising Star
SEC Filings Reveal Serious Decline in 2013 Sales of A/V Lines
Nortek, Inc., a Rhode Island-based diversified manufacturer of a variety of environmental and technology products for home and business, announced its financial performance for the fiscal fourth quarter and year ended December 31, 2013 on Tuesday and conducted a conference call with analysts Wednesday morning. Nortek is the parent company of Core Brands, a group of eleven A/V brands that have a significant impact on the custom integration business – and, for this reason, we follow them closely.
The company saw sales increases for both the quarter and the year; however, it booked a net loss for both periods, suggesting that its previously announced restructuring plan is still a work-in-progress.
See more on the company’s overall performance, as well as the unsettling news we heard about the TECH division, which includes Core Brands…
Sterns Moves Quickly to Rework Sony’s CI Business
When we first reported on the appointment of Frank Sterns as Sony’s VPÂ of A/V Specialty/Custom Integration on the eve of the September 2013 CEDIA Expo, like many of you…we were skeptical. After all, we’ve heard encouraging announcements from Sony before…only to watch those initiatives in limited distribution, high-end products fall into disrepair through over-distribution, under-resourcing, or both.
But this time is different, Sterns tells us. And as he runs around the country setting up a whole new sales operation…we’re beginning to believe him.
