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Moody’s Downgrades Gibson Brands Credit to Junk

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Gibson Brands CEO Responds to Moody’s Downgrade

Photo of Gibson busThe music industry is positively buzzing about the announcement late last week by Moody’s Investors Service that, for the second time in three months, it has downgraded the credit rating of Nashville, Tennessee-based Gibson Brands. Gibson (formerly Gibson Guitars) is a tightly held private company that launched an aggressive diversification strategy a few years ago, focusing on acquiring several consumer electronics brands such as Onkyo Corp. and Teac, Corp. and recently Philips.

Now Moody’s suggests the debt used to acquire these brands is dragging the company down… [Read more…] about Moody’s Downgrades Gibson Brands Credit to Junk

Thiel Audio Makes Retroactive CEO Announcement & More

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Third CEO Since Acquisition Three Years Ago

New Thiel logo black backgroundOn Monday of this week, Thiel Audio Products, Inc. unexpectedly announced that it has hired a new CEO for the organization. This announcement appears to refer to the CEO we previously told you about back in October 2015, although the release announces his appointment retroactively, effective January 15, 2016.

See more about who Thiel’s new CEO is, and their statement about what’s next… [Read more…] about Thiel Audio Makes Retroactive CEO Announcement & More

Yet Another High-End Brand Turns to Internet Sales, But This Time’s Different

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This Time Brand Takes Local Dealers With Them

Cary Audio logoRaleigh, NC-based Cary Audio announced this week that they will allow their high-end specialty electronics line to be sold online. At first blush, this looks like yet another specialty brand disrupting their bricks-and-mortar dealer base in favor of powerful online dealers – much like our recent story on McIntosh Labs doing just that. But this time, Cary took a completely different approach – one that takes their local dealers along with them.

See how Cary built an entirely different program in going online… [Read more…] about Yet Another High-End Brand Turns to Internet Sales, But This Time’s Different

Nortek Fiscal 2015 Q4 & Full Year Results are Mixed; AVC is Still Sliding

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Nortek LogoNortek, Inc., a diversified manufacturer that through its Core Brands division markets several brands in the custom integration channel, released this week its fiscal 2015 fourth quarter and full year results. Overall, the results were mixed, as the company continues to struggle through a huge consolidation and experience shifts in its sales mix.

But one thing that remains clear is that their AVC segment, the segment that contains the Core Brands businesses, is continuing to struggle with a dramatic sales decline (27.1% decline in the quarter – 20.5% sales decline for the year) and increased losses ($20.8 million loss for the year as compared to a $19.2 million loss for 2014, ).

See more on the continuing struggles at Nortek… [Read more…] about Nortek Fiscal 2015 Q4 & Full Year Results are Mixed; AVC is Still Sliding

In Wake of Strata-gee Article, McIntosh Sends Letter to Dealers

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Cropped image from WOM Last week, we broke the news on Strata-gee.com that McIntosh Laboratories, historically a strong supporter of specialty A/V dealers, had decided to open up sales through the Internet. This decision hit the existing, largely offline, McIntosh specialty dealers hard…many reaching out to us to express their frustration.

The same day our story was posted, McIntosh electronically distributed a letter to dealers from Dan Wakefield, VP of North American Sales for McIntosh, explaining the company’s decision.

See what McIntosh said to dealers about their decision… [Read more…] about In Wake of Strata-gee Article, McIntosh Sends Letter to Dealers

TiO Adds Wi-Fi Lamp Dimmer & Software Update

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TiOTurn it On (TiO), makers of smart and simple home automation solutions, announced this week that they have added a new Wi-Fi controlled lamp dimmer and delivered a system software update that adds exciting new functions to their system. The clever new dimmer module and software update are part of the company’s continued system enhancement and update program.

See more on this latest update from TiO… [Read more…] about TiO Adds Wi-Fi Lamp Dimmer & Software Update

Only Days Away From Official Launch, Toshiba Scraps Wearvue Smart Glasses

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Toshiba Wearvue

Toshiba Corp. has pulled the plug on a highly-touted smart glasses project – a product similar in concept to the recently cancelled consumer version of Google Glass. What’s most interesting about this decision by Toshiba is that they made it just days before the originally scheduled – and loudly promoted – launch date.

See more on this puzzling last-minute cancellation of an almost-launched product… [Read more…] about Only Days Away From Official Launch, Toshiba Scraps Wearvue Smart Glasses

Former Specialist Darling McIntosh Opens Up Internet Sales

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BREAKING NEWS

McIntosh LogoMultiple sources have told us that McIntosh Laboratory, Inc., a brand once deeply committed to the specialty electronics retail channel, has notified dealers by phone that for the first time in its history the company will allow Internet retailers to sell the brand. The list of online dealers that will be authorized to sell McIntosh products includes Amazon.com. The news has sent a shock around their dealer base and we have heard from several very loyal, long-time McIntosh dealers…who are very, very angry.

See more on this latest development from McIntosh… [Read more…] about Former Specialist Darling McIntosh Opens Up Internet Sales

Once Hailed as Savior, 3D TVs Disappear into the Annals of History

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3D TV from LGIn a move that appears to indicate that major TV makers are finally accepting the reality that consumers don’t want 3D TVs, Samsung and LG are said to be limiting or eliminating the feature from future TV models. Some may say, ‘What took you so long?’ But the reality is that the industry invested billions of dollars developing the technology and has been slow to eliminate it – saying that there are still some enthusiasts that love 3D content.

See who’s taking 3D off of their TVs… [Read more…] about Once Hailed as Savior, 3D TVs Disappear into the Annals of History

Sharp Shocks Japan; Favors Offer from Foreign Entity

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Sharp President Takahashi
Sharp President Kozo Takahashi

Sharp Corp., the troubled Japanese manufacturer of LCD panels and TVs, finds themselves in unfamiliar territory – multiple potential parties want to buy them and are bidding the price up. Unfortunately, this situation has emerged as a result of their deepening financial troubles and whatever offer they accept is likely to change the company in fundamental and unknown ways…forever.

But perhaps the biggest surprise of all is that despite political pressure to accept an offer from a Japan government-backed bidder – an outcome that everyone in Japan expected – the company has let it be known that it is favoring a bid from a foreign bidder…Taiwan’s Foxconn.

See why Sharp is defying expectations – and its own government – to potentially sell to a foreign entity… [Read more…] about Sharp Shocks Japan; Favors Offer from Foreign Entity