JVC Kenwood Corporation announced the final results of their voluntary early retirement solicitation first announced late last year. This solicitation was offered as part of a comprehensive effort to turn around the company’s flagging fortunes and included many steps to cut overhead and improve profitability – such as this effort to cut employment by incentivizing employees to leave the company.
Pivot Point
Sterns Moves Quickly to Rework Sony’s CI Business
When we first reported on the appointment of Frank Sterns as Sony’s VP of A/V Specialty/Custom Integration on the eve of the September 2013 CEDIA Expo, like many of you…we were skeptical. After all, we’ve heard encouraging announcements from Sony before…only to watch those initiatives in limited distribution, high-end products fall into disrepair through over-distribution, under-resourcing, or both.
But this time is different, Sterns tells us. And as he runs around the country setting up a whole new sales operation…we’re beginning to believe him.
See more on Sterns’ rapid ramp-up of a new Specialty A/V-CIS division for Sony… [Read more…] about Sterns Moves Quickly to Rework Sony’s CI Business
AVAD Hit by Significant Layoffs Associated with Ingram Micro Restructuring
BREAKING NEWS
In a story that has largely flown under the radar in our industry but is being widely discussed at street level, Ingram Micro has announced plans it calls its “global organizational effectiveness program” that, among other things, calls for substantial layoffs in its North American operations. These layoffs will hit a division that is one of our industry’s largest distributors of custom integration products, known to most of us as AVAD.
Details of the restructuring are incomplete…but what we know so far appears sobering… [Read more…] about AVAD Hit by Significant Layoffs Associated with Ingram Micro Restructuring
Kaleidescape Announces (Finally) Srinivasan as CEO
BREAKING NEWS
In a story we reported last week, there has been a shake-up in management at Kaleidescape, a popular media server manufacturer. In this shake-up, several employees left the company…including the CEO. The company would not comment on our story, but said a statement was forthcoming.
We now have the response from the company… [Read more…] about Kaleidescape Announces (Finally) Srinivasan as CEO
Kaleidescape to Comment on Our Report, But Only to Dealers on Private Intranet
BREAKING NEWS
We reported last week that a shake-up was taking place at media-server maker Kaleidescape that included the exit of several key employees, including the CEO. We attempted several times to reach the company for a comment, but even when we finally spoke to Kaleidescape’s VP of Marketing, they refused to comment on our report. However, after our story ran, we received word that the company did intend to respond.
Now we know Kaleidescape’s response…sort of… [Read more…] about Kaleidescape to Comment on Our Report, But Only to Dealers on Private Intranet
Thiel Audio: DeFuria & Brown are Out; Is the Other Shoe Dropping?
BREAKING NEWS
Our inquiry started innocently enough. Last week, we received an emailed press release that contained this headline: “VANA Ltd. Appoints Stephen DeFuria as Director of Sales, East.” Now we generally receive dozens of press releases every day – but this one caught our immediate attention…literally causing us to pick the phone to make a call for confirmation. Why? Because Stephen DeFuria was part of a team hired by Thiel Audio to help turn that business around – and now, only one year later, he is out…with no explanation. But that was just the beginning.
Now, there’s reason to question whether the “other shoe” may be dropping at Thiel… [Read more…] about Thiel Audio: DeFuria & Brown are Out; Is the Other Shoe Dropping?
Kommotion at Kaleidescape
BREAKING NEWS
Starting first thing this morning, our office was inundated with multiple sources contacting us by phone and email to tell us that something big was happening over at Sunnyvale, CA-based, media-server company Kaleidescape. While there were minor variations on the stories we received, they all came down to the same thing – an exit of several employees, including some top executives, from the company.
See what’s changed at Kaleidescape… [Read more…] about Kommotion at Kaleidescape
Sony Cuts Get Deeper – A Third of U.S. Staff to be Cut; 20 Sony Stores Will Close
Although not a surprise, Sony Electronics in San Diego began releasing details of a substantial cutback in U.S. facilities and personnel. The company says it will cut 33% of its U.S. staff – about 1,000 employees. Also, the company announced a major retreat from retail as it will close 20 of its 31 total Sony Store locations.
See more on this significant Sony restructuring… [Read more…] about Sony Cuts Get Deeper – A Third of U.S. Staff to be Cut; 20 Sony Stores Will Close
Happy Birthday Azione – Retail Buying Group Reaches Key Milestone
Azione Unlimited, a buying group consisting largely of custom integrators and retailers announced this week that it had reached the ripe old age of 2-years-old. The now toddling group was launched by Richard Glikes shortly after he left his stint at yet another retail buying group, HTSA. When Azione was launched, some questioned its viability, but this announcement goes a long way towards putting those questions to rest.
See why this announcement represents a key milestone for Azione… [Read more…] about Happy Birthday Azione – Retail Buying Group Reaches Key Milestone
Best Buy Licenses Sharp Brand Name for Smaller, Cheaper TVs Sourced from OEM Suppliers
In a report out of Japan last week, the Nikkei says that Sharp Corp. has reached a deal with Best Buy that will allow the retailer to license the Sharp brand name to be used on TVs made by OEM manufacturers for smaller and less expensive TVs. Sharp will continue to retain the brand for larger-sized sets (i.e. >50-inches), while Best Buy will have their OEM suppliers make Sharp-branded sets in smaller sizes.
Then move could be risky, potentially causing a conflict between the lower quality smaller sets and the higher quality larger sets…each bearing the Sharp brand.
