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Is the Shake-Up at Core Brands Really About Retirement?

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Photo of Bill Pollock
Bill Pollock

 

Over the last few days, management of Core Brands has gone out of their way to reach out to several members of the media to talk about last week’s announcement of the retirement of President Bill Pollock, the exit of Senior VP of Sales Dave Keller, and of the layoff of “a small number of full-time positions.” The announcement suggests a lot of turmoil at Core Brands…a company that seems to have “turmoil” as its middle name.

But is this turmoil really about retirement? Or is something else going on at Core Brands?…

[Read more…] about Is the Shake-Up at Core Brands Really About Retirement?

Funai Files $400 Million Claim Against Philips; But Management Infighting Engulfs Funai in Flames

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Funai logoIn an unusually breathless and overstimulated report out of Japan, we learn that Funai Electric Co., Ltd. – a large, global OEM manufacturing company of mostly AV gear – has filed a $400 million damage claim in their battle with Philips over the loss of a deal with the European giant for its Woox audio business. Not only that, but the report from the Nikkei also revealed that – at the same time – Funai’s President and CEO of less than 9-months has abruptly resigned in a dispute with upper management on the future direction of the company.

See more on this news out of Japan that sounds more like a reality TV show than a business… [Read more…] about Funai Files $400 Million Claim Against Philips; But Management Infighting Engulfs Funai in Flames

Sharp to Close European Operations; Licenses Brand to UMC of Slovakia

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3,000 Sharp European Employees to be Cut

Photo of Sharp Logo Outside Store in JapanSharp Corp. said late last week that it has reached an agreement with Universal Media Corp. of Slovakia to license its brand and market Sharp branded products in Europe. As part of this strategy, Sharp will either sell or close its factory in Poland, cutting approximately 3,000 employees in total between their company-owned factory and European operations.

See more on this development, as Sharp pursues a new business strategy…. [Read more…] about Sharp to Close European Operations; Licenses Brand to UMC of Slovakia

With New Funding & New CEO…TiO is Finally Ready for Takeoff

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Photo of TiO's Vinu Patel

“I have a very high regard and respect for the product,” Vinu Patel, CEO of Anuva Automation told us he said to Mike Anderson earlier this year as they discussed a possible buyout. Patel was sharing the story of how he came to know – and ultimately buy – Anderson’s home automation and control company Turn It On (TiO). As we reported earlier this year, TiO had run into trouble and out of money when financial backing fell through. The situation quickly became dire.

Then, Anuva entered the scene… [Read more…] about With New Funding & New CEO…TiO is Finally Ready for Takeoff

With Pyng, Crestron Zings the Integration Community

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PyngLogoAt the CEDIA Expo earlier this month, Crestron surprised many in the integration community by offering a new, friendly, easy-to-program and easy-to-use, app-driven home automation system they call Pyng. In fact, at a presentation to the press during CEDIA Expo earlier this month, Crestron staff referred to Pyng as “the app for your home.”

But does Pyng’s ease of programming & use cut the integrator out of the picture? See more… [Read more…] about With Pyng, Crestron Zings the Integration Community

Pioneer Says Merger Talks with Onkyo Continue; But Equity Partner Appears Sidelined

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Pioneer LogoPioneer Corporation released an interesting document on September 12th – while much of the tech media was in Denver for CEDIA – titled Notice with Respect to Basic Agreement for the Integration of Pioneer’s Home AV Business and Onkyo. This curious document, six pages long, gives an update as to the state of the discussions between the parties in the previously announced “basic agreement” between Pioneer, Onkyo, and Baring Private Equity Asia for a “Capital/Business Alliance” related to Pioneer’s Home AV business.

Now, apparently, the deal’s changed…with Baring PE pushed to the sidelines… [Read more…] about Pioneer Says Merger Talks with Onkyo Continue; But Equity Partner Appears Sidelined

Pioneer Fire Sale Continues – Dumps DJ Biz to KKR

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KKR logoPioneer surprised everyone back in June of this year when word came that it had decided to sell its AV business to Onkyo Corp. and a private equity company. But actually, the gears for this and other deals were set in motion last year when the company launched a new strategic plan to focus on their core business – car electronics, their largest and most profitable division.

Now we learn the company has sold off its once burgeoning DJ business to KKR. See more… [Read more…] about Pioneer Fire Sale Continues – Dumps DJ Biz to KKR

CEDIA Expo Opens with Many Stories – But Few Big Ones

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CEDIA Expo logoAs we made our way to the Colorado Convention Center Wednesday morning, it was a gray, rainy, then drizzly morning. It’s a weird experience walking into a huge hall with very few people around – most there to either set up booths or to take educational classes. It was as quiet as a library and depending on where you were in the hall…it could be eerily lonely.

But it’s CEDIA’s 2014 Expo…so it’s time for Press Day, the day before the show officially opens. On this day, the press tries to pick up on the major stories of the show…and get a feel for the atmosphere of the event.

But pre-show buzz was pretty light…see what we discovered… [Read more…] about CEDIA Expo Opens with Many Stories – But Few Big Ones

SpeakerCraft…Just Got SpeakerCrafty

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Engineering drawing of new AIM Series 2 speakersEXCLUSIVE PREVIEW!

The hushed buzz of whispers of trouble at Nortek’s Core Brands had grown over the summer – culminating in almost a roar in the wake of Nortek’s last quarterly report identifying its AV division as troubled. One of the premier flagships of the Core Brands stable is SpeakerCraft. As if the SpeakerCraft crew didn’t already have enough on its plate countering these issues, the company faced a new challenge as its former founders launch a new competitor (Origin Acoustics) to a lot of noise.

But don’t count them out just yet! SpeakerCraft just got SpeakerCrafty…

[Read more…] about SpeakerCraft…Just Got SpeakerCrafty

Burkhardt Builds Big Buzz…But is It Bull?

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Origin Acoustics logoFor months now, the industry’s poorest kept secret has been the reentry back into the intensely dense atmosphere of the custom integration industry by the colorful and spark-spewing starship Jeremy Burkhardt – one of the original founders of SpeakerCraft, which he left (forced-out our sources tell us – Burkhardt says he “retired”) in 2012 in one of the many Nortek reorganizations. At first just a rumor, Burkhardt a few months back began a series of “leaks” about his decision to launch a new company. Speaking mostly one-on-one, off-the-record with various journalists, dealers and reps…the buzz began to build – finally reaching its crescendo on the eve of the 2014 CEDIA Expo.

Just days before Expo, Residential Systems unveiled Burkhardt’s new venture , Origin Acoustics, to the world – followed a few days later by press releases to the rest of the media.

As Origin is revealed, does it exceed the pre-launch hype…or is it just bull?… [Read more…] about Burkhardt Builds Big Buzz…But is It Bull?