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Nortek Reports Uneven Fiscal Results; With A/V Biz in Decline, Security is TECH Segment’s Rising Star

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SEC Filings Reveal Serious Decline in 2013 Sales of A/V Lines

Nortek LogoNortek, 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…

[Read more…] about Nortek Reports Uneven Fiscal Results; With A/V Biz in Decline, Security is TECH Segment’s Rising Star

Sterns Moves Quickly to Rework Sony’s CI Business

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Sony logoWhen we first reported on the appointment of Frank Sterns as Sony’s VP  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.

See more on Sterns’ rapid ramp-up of a new Specialty A/V-CIS division for Sony… [Read more…] about Sterns Moves Quickly to Rework Sony’s CI Business

Kaleidescape Announces (Finally) Srinivasan as CEO

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BREAKING NEWS

Kaleidescape logoIn a story we reported last week, there has been a shake-up in management at Kaleidescape, a popular media server manufacturer. In this shake-up, several employees left the company…including the CEO. The company would not comment on our story, but said a statement was forthcoming.

We now have the response from the company… [Read more…] about Kaleidescape Announces (Finally) Srinivasan as CEO

Kaleidescape to Comment on Our Report, But Only to Dealers on Private Intranet

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BREAKING NEWS

Kaleidescape logoWe reported last week that a shake-up was taking place at media-server maker Kaleidescape that included the exit of several key employees, including the CEO. We attempted several times to reach the company for a comment, but even when we finally spoke to Kaleidescape’s VP of Marketing, they refused to comment on our report. However, after our story ran, we received word that the company did intend to respond.

Now we know Kaleidescape’s response…sort of… [Read more…] about Kaleidescape to Comment on Our Report, But Only to Dealers on Private Intranet

Thiel Audio: DeFuria & Brown are Out; Is the Other Shoe Dropping?

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BREAKING NEWS

Photo of Thiel Factory

Our inquiry started innocently enough. Last week, we received an emailed press release that contained this headline: “VANA Ltd. Appoints Stephen DeFuria as Director of Sales, East.” Now we generally receive dozens of press releases every day – but this one caught our immediate attention…literally causing us to pick the phone to make a call for confirmation. Why? Because Stephen DeFuria was part of a team hired by Thiel Audio to help turn that business around – and now, only one year later, he is out…with no explanation. But that was just the beginning.

Now, there’s reason to question whether the “other shoe” may be dropping at Thiel… [Read more…] about Thiel Audio: DeFuria & Brown are Out; Is the Other Shoe Dropping?

Japanese Electronics Manufacturers Ready to Agree to Raise Worker Pay

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Photo of yenSix major Japanese electronics manufacturers are prepared to agree to raise employee pay when they meet with union representatives at the upcoming spring labor-management wage talks, according to a report in the Japan Times. Yet to be worked out is the exact amount of the increase – the first such increase for workers since 2008.

See why manufacturers are open to an increase now & how much the increase is likely to be… [Read more…] about Japanese Electronics Manufacturers Ready to Agree to Raise Worker Pay

Audio Control Launches Two New A/V Receivers Targeted for the CI Channel

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Audio Control logoAudio Control – the U.S. manufacturer of a unique line of solutions for mobile, home, and industrial markets – announced at the end of February that it has launched two new audio/video receiver (AVR) models called the Concert AVR-6 and AVR-8. These two new models replace the existing AVR-4 with upgraded construction and new capabilities, including support for 4K Ultra HDTV and 3D.

See more on this new AVR line-up from a long-time provider of unique solutions… [Read more…] about Audio Control Launches Two New A/V Receivers Targeted for the CI Channel

Sony Cuts Get Deeper – A Third of U.S. Staff to be Cut; 20 Sony Stores Will Close

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Sony logo on screen at CES press presentation

Although not a surprise, Sony Electronics in San Diego began releasing details of a substantial cutback in U.S. facilities and personnel. The company says it will cut 33% of its U.S. staff – about 1,000 employees. Also, the company announced a major retreat from retail as it will close 20 of its 31 total Sony Store locations.

See more on this significant Sony restructuring… [Read more…] about Sony Cuts Get Deeper – A Third of U.S. Staff to be Cut; 20 Sony Stores Will Close

Environmental Group Raises Stakes to Stop LG’s New US Headquarters

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Photo of protesters of LG project
Photo: Star Ledger

A group of concerned citizens and several environmental groups have banded together to form an organization known as the Protect the Palisades group in an effort to stop LG Electronics USA from building a new headquarters tower in an area of New Jersey called the Palisades. The Palisades is a large wooded area that spans parts of Northern New Jersey and Southern New York, and it borders on the picturesque Hudson River. It is famed for its wild and natural beauty – and it is a U.S. National Natural Landmark.

Now, the Palisades group has raised the stakes in its fight to stop LG, which has already broken ground on the disputed project… [Read more…] about Environmental Group Raises Stakes to Stop LG’s New US Headquarters

Toshiba Leaps Into the Aging-in-Place Market via Partnership with GrandCare Systems

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toshiba_logoToshiba Digital Products Division announced today that it has formed a strategic alliance with GrandCare Systems – a well-known company specializing in digital aging-in-place products, sensors, and solutions. According to Toshiba, GrandCare’s telehealth and communications capabilities will now be delivered via “secure, high-performance Toshiba devices.”

See more on this interesting diversification by Toshiba… [Read more…] about Toshiba Leaps Into the Aging-in-Place Market via Partnership with GrandCare Systems