Strategy in TECH...
Gibson Brands announced at the end of last week that it had successfully completed a $16.6 million coupon payment to holders of its $375 million 8.875% senior secured notes due 2018. This news, a seemingly positive development for the company, really only means that they get to march forward towards their mid-year debt maturities – the big event. But, for the moment at least, they are stayin’ alive.
In sort of a cross-technology sharing agreement, Bryston says it has partnered with relative newcomer StormAudio to create new products that will embody shared technologies from the two premium companies. According to the announcement, the agreement will enable “both companies to leverage their respective design and manufacturing expertise in an array of new product offerings.”
Unless you live under a rock, you most likely have heard about Amazon Go, the experimental grocery store that uses technology to allow shoppers to bypass the checkout counter and simply walk out the door with their purchases. Within minutes of leaving, they receive an email of the items they left with, and the receipt with the charges to a card of their (previously registered) choice. The idea is to eliminate a signficant pain point – standing in line for the sometimes time-consuming checkout process.
Monster, Inc. (formerly Monster Cable) announced this week that it is launching its first ever television ad during the NBC broadcast of Super Bowl LII this Sunday, February 4. Usually the biggest TV event of the year, Super Bowl commands a king’s ransom in fees for advertisers, reportedly $5 million for a 30-second spot according to Sports Illustrated. Monsters ad? A full 60-second spot.
Just last week, we learned that real estate investment company Somera Road filed a lawsuit in the Davidson County Chancery Court in Nashville, alleging that Gibson Brands had reneged on a deal to sell them a property known as the Valley Arts building. Now, in a report from the Nashville Post, we’ve learned that another party has sued Gibson over the same property.
Luxul announced today that in response to its growing business, it has added two key hires in product management and technical writing. Joining the networking solutions provider are John Epeneter as its new product manager and Lindsay Bull as technical writer.
After a tumultuous five-year period, which began in 2012 when Thiel was sold to Tennessee private investor David B. Griffin, we can now confirm that Thiel Audio has been closed for good. Failing some kind of 11th hour rescue, another great American audio brand will be relegated to the dustbin of history.
And They Said It Wouldn’t Last; Hearing Set for This FridaySomera Road, Inc., a real estate investment firm that has recently purchased several properties from Gibson Brands, Inc., has filed a lawsuit against the company seeking to enforce a purchase agreement that they say Gibson has violated. The lawsuit was filed in Nashville, Tennessee in the Davidson County Chancery Court, according to a report by the Nashville Post.
CTA’s marketing message for the Consumer Electronics Show (CES) this year was “Whoa!” While this is a reference to surprising innovations, it now appears that the biggest Whoa! to emerge from CES was a power blackout that hit the Central and South Halls of the Las Vegas Convention Center on Wednesday afternoon. Social media was buzzing and many show attendees posted images of the darkened halls with some of the biggest booths – Samsung, Panasonic – quite literally in the dark.
There really is nothing sadder-looking than a technology tradeshow…without power. Considering the coverage we’ve seen about CES in the general media this year, that blackout could be a metaphor about the declining power the show holds over the market these days.
A little more than a month ago, Gibson stunned the music world by abruptly shutting down Cakewalk, a music software company it had acquired in 2013. Now the music industry is abuzz again, after an announcement from Gibson Brands that it has decided to pull out of the NAMM show – the biggest music industry tradeshow, taking place at the Anaheim Convention Center January 25-28. Gibson Guitars is one of the top guitar manufacturers in the world, and the thought of a major music industry tradeshow without their representation has tongues wagging throughout the industry, with plenty of speculation about the “real” reason Gibson chose to pull out.
