Core Brands, a division of Nortek, Inc.’s TECH segment, announced today that it has appointed Chris Bundy as its new Director of Marketing Communications. In this role, the company says that Bundy is responsible for “developing and delivering innovative branding, marketing strategies, and product launches across then brand lines…” Bundy’s most recent position was director of marketing for Atlona.
Strategy
New THIEL CEO Tells Us THIEL’s the Real Deal
“It’s really not that fancy,” new Thiel CEO Bill Thomas told us with a chuckle and a noticeable Southern drawl when we asked about his private equity company that was mentioned in a Thiel press release announcing its acquisition last week. [See our post on the acquisition here…] In a telephone interview with strata-GEE.com earlier this week, the 55-year old Thomas said it was simply he and two friends that came together to purchase Thiel Audio Products Company – not some high-powered M&A company.
This was just one of several surprises the CEO shared with us about the acquisition… [Read more…] about New THIEL CEO Tells Us THIEL’s the Real Deal
The Good News Just Keeps on Coming for Sharp
Just one day after Qualcomm, Inc. announced a technology pact and investment deal with Japan’s troubled Sharp Corp., word comes out of Taiwan that Hon Hai Precision Co. Ltd. may still be interested in taking a major position in the company. According to a Taiwanese newspaper, they have been told that Hon Hai may yet invest enough to own 9.9% of Sharp – making them Sharp’s single largest shareholder – to be decided by March 31, 2013.
See more on this surprising re-invigoration of this dormant deal… [Read more…] about The Good News Just Keeps on Coming for Sharp
Qualcomm Agrees to $120M Investment in Sharp; Is Sharp Saved?
Qualcomm, Inc. announced today that it has reached an agreement with Japan’s Sharp Corp. on the expansion of a technology agreement with its Pixtronix, Inc. division to create high quality color, low-power MEMS (Micro Electro Mechanical Systems) displays based on Sharp’s IGZO (Indium Gallium Zinc Oxide) technology. The agreement also provides for Sharp to utilize existing LCD factories to provide manufacturing…and most importantly for the struggling Japanese manufacturer…for Qualcomm to invest $120 million to become a minority shareholder in Sharp.
Does this deal save Sharp?… [Read more…] about Qualcomm Agrees to $120M Investment in Sharp; Is Sharp Saved?
Nortek Names New Chief Sales Officer for Data Center Products
Nortek, Inc. announced today that it has appointed Kris Holla Chief Sales Officer of Data Center Products. This position, newly created by the company, involves leading the charge in increasing Nortek’s market share in “mission critical data center and server markets.”
See more on this key new appointment at Nortek… [Read more…] about Nortek Names New Chief Sales Officer for Data Center Products
JVC Kenwood Says It Will Double Net Profits by Fiscal 2015
The Nikkei in Tokyo is reporting today that JVC Kenwood has revealed that it expects to achieve ¥13 billion ($158 million) in net profit for fiscal 2015. This rate is more than double its fiscal 2011 level of profit…and an ambitious target.
See more on how JVC Kenwood expects to dramatically improve its business results… [Read more…] about JVC Kenwood Says It Will Double Net Profits by Fiscal 2015
AVWeek Features strata-GEE.com Post on Nortek Consolidation
AVWeek, a regular podcast produced by AVNation that sums up the top stories in Audio/Video for the week, featured a post by strata-GEE.com in their November 23rd podcast (published November 26) titled “Episode 67 Canadian Quarters.” The podcast – which features a 55-minute topical discussion by AV-industry luminaries Dawn Meade (Net-AV), George Tucker (World Stage), and Matt Scott (Omega Audio Video) – included a segment based on our post about the recent Nortek consolidation and creation of their new ProAV Group.
See what these A/V pros thought about the strata-GEE.com post…and about Nortek’s consolidation… [Read more…] about AVWeek Features strata-GEE.com Post on Nortek Consolidation
Moody’s Cuts Panasonic’s Credit Rating for the Third Time This Year – Now Near Junk
Panasonic Corp., once one of the most powerful electronics companies in the world, now finds that its credit rating has been lowered by Moody’s Investors Service to the lowest level still considered investment grade – only one step above junk. Moody’s, one of the largest credit rating agencies, has revised Panasonic’s rating twice before this year – and this third revision dropped the company’s credit rating two grades to Baa3…the lowest level considered investment grade.
What prompted Moody’s to make this huge downgrade of Panasonic’s credit?… [Read more…] about Moody’s Cuts Panasonic’s Credit Rating for the Third Time This Year – Now Near Junk
Sharp Asks 2,000 Employees to Leave – 3,000 Raise Their Hands
Sharp Corp., the struggling Japanese manufacturer that is widely reported to be scrambling to survive, recently offered buyout packages to employees hoping that 2,000 would agree to leave the company. To their surprise, almost 3,000 employees volunteered to leave – good for the company, but a sign of their lack of confidence in the company’s ability to return to profit anytime soon.
See more on this latest indicator of the company’s struggles…
[Read more…] about Sharp Asks 2,000 Employees to Leave – 3,000 Raise Their Hands
Nortek Consolidation Continues; Creates New ‘ProAV Group’
BREAKING NEWS
Nortek Inc. announced this morning that it has consolidated several of its brands into a new organization that they call the “ProAV Group.” Consisting of several Nortek brands that were conspicuously missing from their recently formed “Core Brands” group, the ProAV Group combines Gefen, TVOne, and Magenta Research into one consolidated group.
