Catalyst AV, the newest national distributor group, announced yesterday that it has added IC Realtime Security to their vendor line-up. Catalyst AV is made up of eleven regionally based rep/distribution companies. The group launched officially at last month’s Consumer Electronics Show in Las Vegas.
News
Nortek Acquires 2GIG Technologies
BREAKING NEWS
Nortek, Inc. announced today that it has acquired 2GIG Technologies, Inc. from APX Group, Inc. 2GIG is a designer and supplier of residential security and home automation systems. A privately held company, 2GIG will expand Nortek’s portfolio of installed home systems products.
See what 2GIG brings to the table and how much Nortek paid to add the brand to its portfolio… [Read more…] about Nortek Acquires 2GIG Technologies
Founder Schulze Considering Abandoning Deal for Best Buy
Former Best Buy Chairman
Multiple news outlets, including the Wall Street Journal and Reuters News Service, are reporting that Best Buy founder Richard M. “Dick” Schulze is considering abandoning his bid to take the company private. Schulze had informed the Board of Directors in August 2012 that he intended to purchase all outstanding shares of stock to take the company private. After months of study and planning, Schulze is said to be ready to scuttle the plan.
Why, after so much effort, is Schulze considering dropping his bid?…See what we discovered… [Read more…] about Founder Schulze Considering Abandoning Deal for Best Buy
Pioneer Announces Q3 & 9-Month Losses; Cuts FY2013 Forecast from Profit to Loss
In what is turning out to be a very rough earnings season in Japan, Pioneer Corp. announced yesterday its results for the third quarter and nine-month periods of fiscal year 2013 which ends March 31, 2013. Both Q3 and the 9-month periods showed losses, with the YTD loses increasing substantially to ¥9.8 billion ($105 million) down from a loss of ¥6.6 billion. As a result of this, the company has cut its FY2013 forecast from a profit of a ¥1 billion ($11 million) to a loss of ¥4 billion ($42.8 million)…a surprising ¥5 billion change of fortune.
Due to the company’s deteriorating business, the Board of Directors has ordered a significant restructuring including salary and bonus cuts for executives and employees. The company has also said it will cut jobs.
Why has Pioneer’s business shifted so dramatically? See more details below… [Read more…] about Pioneer Announces Q3 & 9-Month Losses; Cuts FY2013 Forecast from Profit to Loss
Yamaha Board Orders Major Restructuring; Revises FY2013 Forecast Downward to Break-Even
BREAKING NEWS
Yamaha Corporation announced yesterday in Japan that its Board of Directors has ordered a major restructuring of the company’s domestic operations – in one case merging eight separate operating subsidiaries into one. The company has also released results for FY2013 through the third quarter ending December 31, 2012 and revised its annual forecast downward from a profit to break-even as a result of extraordinary charges related to the restructuring as well as sales and profit declines.
See details on the dramatic steps Yamaha’s Board is taking to try and improve efficiency & profitability… [Read more…] about Yamaha Board Orders Major Restructuring; Revises FY2013 Forecast Downward to Break-Even
Ube Launches Indiegogo Campaign to Crowdfund the Manufacture of 10,000 Wi-Fi Smart Dimmers
Start-up Ube, the new company founded by former CEDIA CEO Utz Baldwin and partners, offers an all-new mobile device-optimized, cloud-based home control technology bringing new power – and new simplicity – to the masses. This new technology could be a highly disruptive game changer with a re-conceived business model that just might gut the heart of the highly lucrative residential systems installer market. Or not…
Today, Ube [pronounced YOU-bee] announced their first major step forward in the wake of their stunning technology show win at last fall’s DEMO 2012 in which the company received the People’s Choice Award earning them $1 million in media from the show’s promoter. Ube has begun a campaign on the crowdfunding website Indiegogo to raise funds so that the company can manufacturer their first 10,000 Wi-Fi smart dimmers. The company also announced a BETA test program open to residential A/V electronics installers and integrators.
See more on this fascinating first product Ube is launching on Indiegogo…and on the special “BETA” test program for integrators and installers… [Read more…] about Ube Launches Indiegogo Campaign to Crowdfund the Manufacture of 10,000 Wi-Fi Smart Dimmers
Bob Brown Joins Thiel as Interim COO and Board Member
Industry veteran Bob Brown, known to many from his long tenure as President at Lenbrook America, has joined Thiel Audio as a member of their board of directors. Brown will also, effective immediately, begin serving as the company’s interim Chief Operating Officer (COO).
Thiel, as we recently reported, is in the middle of an exciting revival as the result of its recent purchase by a consortium of Tennessee investors led by current CEO Bill Thomas.
See more on this interesting new development for Thiel… [Read more…] about Bob Brown Joins Thiel as Interim COO and Board Member
Sony Hires Army of 400 Experts to Send to U.S. Retailers to Sell Sony TVs
Trapped by their own newly strengthened mandated pricing programs, and a commitment to grow sales profitably, Sony Corp. has resorted to deploying a wave of 400 company employees into the field to sell Sony televisions at U.S. retailers. The move is said to be a way to try to stimulate Sony TV sales without resorting to retail discounting.
Smart strategy? Or is hiring 400 TV ‘experts’ really just thinly veiled discounting?… [Read more…] about Sony Hires Army of 400 Experts to Send to U.S. Retailers to Sell Sony TVs
Turning Lemons Into Lemonade: Toyota’s Innovative New Use for Recycled Prius Batteries
Every year, 6,000 large, expensive, and depleted batteries, recycled by auto dealers all over the country, pour into Toyota Motor Corp. in Japan. The batteries have been pulled out of Prius automobiles as they are replaced by car dealers who then return them to the manufacturer for recycling. And given the growing popularity of the Prius, this rate will almost certainly continue to rise over time.
What to do with them? Toyota has ingeniously figured out a way to refurbish them, reconfigure them, and resell them back to the very dealers who had returned them. How do they do this?
See the ingenious power management system that Toyota will offer its dealers, made from old Prius batteries… [Read more…] about Turning Lemons Into Lemonade: Toyota’s Innovative New Use for Recycled Prius Batteries
While Others Go Small, Panasonic Goes Big with 20-inch Tablet
For those of you who were at the Consumer Electronics Show (CES) earlier this month: Did you see the new tablet introduced by Panasonic? Featured during the Panasonic press conference as an example of Panasonic’s innovation, the company showed a new tablet computer launching it into the tablet computer fray which is dominated by the Apple iPad…with a rapidly growing Samsung with its Galaxy Note and Tab lines nipping at its heels.
