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Big Changes Hit Sound United as Terminated President Duffy Exits Today

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Kevin Duffy, head of Sound United terminated by Masimo
Kevin Duffy

Sound United VP James Krakowski Announces Departure As Well

On April 11, 2022, Masimo Corp. appointed Kevin Duffy – then CEO of Sound United – President of the Consumer Division of Masimo Corp. as part of its $1 billion acquisition of Viper Holdings Corp., Sound United’s parent company. Duffy was offered a fairly rich package, with salary and certain other benefits and perks that could be worth millions of dollars, in some cases after a vesting period.

Then, just ninety days later, the company filed paperwork with the SEC saying that it had terminated Duffy “without cause.”

See more on Duffy’s exit from Sound United and Masimo

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Gettin’ Tough Out There – Sony Cuts Net Profit Outlook for Current Fiscal Year

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Sony PlayStation 5 games

Late last week, Sony Group announced that they were cutting their net profit forecast for the current fiscal year, fiscal 2022 which ends March 2023. Why are they trimming their profit expectations? It appears that Sony is experiencing its version of a post-COVID Peloton/Netflix sales decline as video game sales are weakening and its costs related to a recent acquisition are rising.

See more on the declining profit forecast at Sony

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Turmoil Returns to Krell; COO Walter Schofield is Out Without Explanation

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Krell Solo 375 amplifier

Several Krell-related sources, such as dealers and others, reached out to me on Monday to share the surprising news they had just received in that morning’s email – top Krell executive Walter Schofield has left the company. Other than that basic fact, dealers didn’t know much more as the terse communication from Krell contained very little information. Speculation is running rampant…

See more on what I’ve learned about developments at Krell

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Emerald Expo Offers ‘Reinvigorated’ Education for CEDIA Expo 2022

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Emerald Exposition, one of the largest exposition companies in the U.S. and the owner of the CEDIA Expo (and CE Pro), announced this week that they will be offering “reinvigorated educational programming” at this year’s CEDIA Expo 2022. This initiative will include a range of more than 150 sessions, including seminars, panels, workshops, and manufacturer product training.

See more on education at CEDIA Expo 2022

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Senate Finally Takes Action on CHIPS Act, Setting the Stage for Its Passage

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Photo of semiconductors or chips, the Senate finally takes action
[Photo: REUTERS/Florence Lo/Illustration]

More than a year after its initial introduction, and in the wake of chip manufacturers threatening to scale back their U.S. projects, the United States Senate finally took action on Tuesday to move forward on the bill known as the CHIPS Act. After months of at times heavy discussion/arguing, the stage is set for both the House of Representatives and the Senate to vote on its passage, perhaps as early as next week.

See more on this development with the CHIPS Act

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Snap One Offers ‘Partners’ Advice to Protect Them from Fraud

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Snap One By integrators for integrators

Snap One, the entity originally founded as SnapAV, and a company whose motto is “Founded by integrators for integrators,” recently demonstrated how they strive to be a better partner by providing their dealers with some really solid and helpful advice. One of their appreciative dealers forwarded me an email he had received from the company containing useful information on how to protect his business from fraud.

See how Snap One sought to protect dealers from fraud

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If I Was an Integrator Specifying Savant, I’d Do This Immediately

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more integrators are selling Savant smart energy solutions

Company’s Power Division Expands National Distribution

You may have seen the recent announcement from Savant that they have broadened the distribution of their new energy management solutions to a pair of new, strategically significant distribution partners. You may have ignored this news, perhaps not recognizing the distributors who are both better known in the electrical/renewable contracting communities.

But if you are an integrator who specifies Savant products in your proposals, you should be really paying attention to what this company is doing with its powerful (pun intended) energy management strategy. It’s big!

What I would do if I were an integrator selling Savant products…

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With Demand Slack & Inventory Levels Building, Samsung Cuts Procurement

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Samsung logo

Is an Industrywide Slowdown in Tech Beginning?

Samsung Electronics is taking action to hold back on procurement orders and asking suppliers for concessions, such as delayed deliveries, order reductions, and more in the wake of a concerning buildup of inventory. While the action is said to be temporary, concerns over a slowing global economy make it difficult to determine how long the company will deem these actions are necessary.

See more on Samsung’s actions to cut inventory buildup

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Like a Cat with 9-Lives, McIntosh is Once Again Acquired by a Private Equity Company

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Highlander Partners, L.P., a Dallas-based private equity company, announced today that it has acquired McIntosh Group, a manufacturing and distribution company that offers several high-performance, high-end audio brands such as McIntosh, Sonus Faber, and Sumiko. It also operates under Fine Sounds U.K. and Fine Sounds Benelux.

Read more on the latest change of hands for McIntosh Group

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CTA Membership Now Way More Precious as Assn. Raises ’23 Dues as Much as 440%

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Trade Group Says It Delivers ‘Expanded Services’

The Consumer Technology Association (CTA), the organization that owns and operates the Consumer Electronics Show, has notified members that it has “changed our [dues] structure and dues.” They weren’t kidding, depending on the membership category your company falls under, along with your annual revenues, your dues may have increased greater than five-fold, starting with your 2023 dues. Ouch!

See more on CTA’s dramatic membership dues increase

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