In a letter to the media early Tuesday evening, Richard Stoerger announced the likely impending closure of Audio Design Associates (ADA), a company that was a founding member of CEDIA and a significant driving force in the early days of the “CEDIA channel.” The letter itself never explicitly explains the reasons for the possible closure, only offering vague allusions to: difficulty to “defeat the noise generated on a public level”… and … that they “just ran out of time and money”… and … a failure to “reckon with” how “difficult and expensive” it is to tell one’s story.
For a few weeks now, I’ve been chasing a rumor that both sides of the failed Sound United acquisition of Onkyo’s branded A/V business were in the throes of a major reorganization. The rumors, it seems, were true – starting with Onkyo’s announced reorganization last week…and now word that Sound United is also implementing changes to its management structure.
See what changes Sound United is making…[Read more…] about Last Week Onkyo, Now Sound United Reorganizes in Wake of Failed Acquisition Deal
Also: Consolidating Facilities & Moving Headquarters
It appears that the other shoe is dropping in the wake of the failed acquisition of Onkyo Corporation’s branded A/V division by Sound United last month, as the company now says it will reduce its overhead by cutting jobs. This appears to be the first step in a major reorganization of the company, as it seeks to right-size the organization for the industry’s new, smaller, and more competitive environment in which electronics manufacturers find themselves.
See more on Onkyo’s restructuring…[Read more…] about Onkyo to Slash Overall Company Headcount by 30%, Cutting Management by 50%
Toshiba Corp. announced this week that it has launched a large consortium of more than 100 companies in Japan for the purpose of creating new services and products to attack and drive the growth of the Internet of Things (IoT) market. Consortium participants are companies of varying size and capabilities that cover the entire spectrum of the market.
Learn more about the new Toshiba IoT consortium…[Read more…] about Toshiba Launches Consortium of 100 Companies to Drive ‘Internet of Things’ Market
BREAKING NEWS Acquired by Sound United Two Years Ago, Then Gone
It was January 2018 when I reported that Sound United had completed its acquisition of Classé, an acquisition which had been first announced in December of 2017. In the weeks leading up to that December, former owner Bowers & Wilkins was considering getting out of the electronics business…maybe. After months of confusion, where on any day executives at Classé teetered back-and-forth between survival and demise – it now seemed that Sound United had thrown them a lifeline…a chance to live to fight another day.
And then they dropped out of sight for the last two years…
What happened to Classé?…[Read more…] about The Curious Case of the Disappearance of Classé
As you most likely know by now, Onkyo Corp. and Sound United have called off their transaction which would have transferred ownership of the 73-year old Onkyo brand, as well as the Integra, Pioneer, and Pioneer Elite brands to Sound United. The shocking news capped off a nearly five month process where many in the industry tried to figure out just how this deal made sense.
This was the second loss of a potential buyer for Onkyo, which admits it is re-evaluating its future based on the failure to sell off its brands.
See why Onkyo’s future is a question mark…[Read more…] about With Loss of Two Potential Buyers, Onkyo’s Future is a Question Mark
Onkyo USA announced this week that it will become a retailer of Sonos wireless music systems – selling the company’s wireless music systems on Onkyo USA’s website. The company also says it will distribute the brand nationally as well.
See more on Onkyo’s partnership with Sonos…[Read more…] about CEDIA 2019: Onkyo USA Says It Will Become a Retailer of Sonos, a Distributor Too
SnapAV announced today that it will begin distributing Sonos wireless music systems beginning next month in October. The company says it will offer the entire line – including the Sonos Port, Sonos Move, and Sonos One SL – as part of its extensive assortment of gear targeted to the professional custom integrator.
See more on this announcement from SnapAV & Sonos…[Read more…] about CEDIA 2019 – SnapAV to Distribute Sonos Wireless Music Systems Nationally
On Wednesday, the country’s largest payroll processor, ADP, announced that private-sector employers hired 27,000 people in May. This number was a dramatic reversal from their report on April hiring, which said employers added a remarkable 271,000 people. Many economists and market analysts expressed shock at the surprisingly low number.
See more on ADP’s May hiring numbers…[Read more…] about ADP Jobs Report is a Shocker, Seen as a Red Flag
Last week’s Strata-gee story on the final liquidation of what remains of Thiel not only drew a huge number of readers, it also sent a big chunk of them on to the auctioneer’s website (McLemore Auctions). Many of those readers who journeyed to the auction were in search of a great deal on a good line of Thiel speakers. But then, in an unexpected twist, a source reached out to Strata-gee to offer a warning to those in search of a great deal on Thiel.