Strategy in TECH...
Denver-based YG Acoustics has announced it will debut the third generation of its Reference line of loudspeakers – called Reference 3 – at the upcoming Munich High End show, running from May 18 to May 21. The Munich event is one of the world’s preeminent high-end audio expositions. As such, it is the perfect venue for the company to launch its latest generation of Reference with many new technological innovations sure to be appreciated by the event’s audiophile attendees.
In a new round of filings from the designated “Assignee” in the matter of Audio Research Corporation’s filing of an Assignment for the Benefit of Creditors, we actually learn a few new things and get a little more detail on the state of affairs for the beleaguered but popular high-end audio brand. And these new details help to put a finer point on just where things stand at the moment for the company.
A couple of interesting announcements this week from Premium Audio Company (PAC), the Voxx Int’l subsidiary that markets the company’s premier audio brands such as Klipsch, Onkyo, Integra, Jamo, Pioneer, Elite, and more. First up, Rob Standley gets a big promotion to President of Technology and Product, a big step up. Second, and I would say counter-intuitively, the company says it’s lowering prices on many of its “most popular and best-selling audio solutions.”
Minnesota Bank & Trust (MB&T) of Minnetonka, MN has filed documents with the Fourth Judicial District of the Minnesota District Court notifying the court of the existence of a secured agreement with Audio Research Corporation (ARC) and its principal owner, Trent Suggs. This agreement, the bank wants the court to know, has been subject to “Numerous events of default” which “are continuing.”
With this being the case, the bank is asking the court to issue a judgment for the amount owed, plus accrued interest, plus attorneys’ fees, and other collection costs – an amount in excess of $1.5 million.
Another storied high-end audio brand has seen itself fall into hard times. Audio Research Corporation of Maple Grove, MN has filed paperwork with Minnesota District Court to start a form of the receivership process known as an Assignment for the Benefit of Creditors.’
In more late-breaking news from the Masimo v. Apple trade secrets trial, we learn that U.S. District Judge James V. Selna has cut Masimo’s trade secrets claims in half, down from twelve initial claims to now six viable claims. Based on the expert estimated value of the claims cut, that takes this case from one valued at $3.1 billion in damages to one now valued at $1.8 billion.
In a surprising and rather dramatic late-trial incident, an Apple witness violated a pre-trial order from U.S. District Judge James V. Selna meant to limit the amount of evidence to be presented, and – upon a motion from Masimo – he reversed that order, allowing Masimo to reveal more evidence potentially detrimental to Apple. Specifically, jurors learned that Apple had not just hired two Masimo executives as they had been told, but rather, the tech giant had hired as many as five more (for a total of seven) employees away from Masimo.
I’ve been going to audio shows since the 1989 summer CES. Life has changed drastically since then, for both good and ill, and I’ve attended a lot of shows in the intervening 34 (!!!) years. Some shows were pleasant, productive, but ultimately unmemorable. Some shows were memorable for outrageous behavior or events—someday I’ll tell you about the CES room where strippers were giving lap-dances to potential dealers—some shows were memorable for disastrous management, or an atmosphere dripping in fear and impending doom.
But AXPONA 2023? Well, it was…
Crestron Electronics announced today that John Clancy, the current Executive Vice President of Residential, is being elevated to Chief Sales Officer, effective immediately. As the company’s top sales executive, the company says that Clancy “will lead and unify the global Crestron sales organization to drive market growth and enhance customer satisfaction.”
The Masimo Corporation $3 billion trade secret misappropriation, patent infringement, and patent ownership trial against Apple, Inc. is continuing and witnesses are offering the jury sharply divergent views of the many elements of this case. While those opposing viewpoints are fairly clear, what is not clear is how the jury is interpreting all of this information, and which side they feel is presenting a true picture of the situation.
