Multiple creditors are fighting a pitched battle over the Chapter 11 bankruptcy plan worked out between Gibson Brands and their major debt holders and submitted to the Bankruptcy Court. Some of this was to be expected, as there was a large pool of unsecured creditors who did not participate in the pre-bankruptcy negotiations. But now, even one of the secured creditors – a power player in their own right – has turned on the other secured creditors, joining in with the unsecured creditors and potentially jeopardizing the whole plan, according to a report by the Nashville Post.
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EU Hits Pioneer, D&M, Philips & Asus with Fines for Price Fixing
The European Commission, the EU’s antitrust regulatory unit, after a 17-month investigation of online price fixing and other illegal anti-competitive practices has levied a fine of €111.2 million ($130 million) against four prominent consumer electronics brands, including Pioneer Corp., D&M Holdings Inc. of Japan, Koninklijke Philips NV of the Netherlands, and AsusTek Computer, Inc. of Taiwan. The companies were alleged to have imposed fixed or minimum online prices for their products.
See more on this strong action by European regulators… [Read more…] about EU Hits Pioneer, D&M, Philips & Asus with Fines for Price Fixing
Deep Dive: New Dana Innovations HQ & Training Ctr
Strata-gee Goes Through Dana Innovations 2-Day Training
For some time now, I’ve been picking up a lot of buzz about the new San Clemente, CA headquarters building of Dana Innovations, said to be a major upgrade from their previous digs and outfitted with an optimized, multi-room training center. Dana Innovations, parent company of power CI brands such as Sonance, iPort, and Trufig, is one of the top custom integration solutions providers of in-wall/in-ceiling speakers, multichannel amplifiers, keypads, touch panels, and more. They also are renown for their dealer training program, which the company runs year round.
So when I got an invitation to visit their facility close-up, I jumped at it. I’m not sure I knew what I was getting myself into…
Dana Innovations puts me through their intense 2-day training regime… [Read more…] about Deep Dive: New Dana Innovations HQ & Training Ctr
Savant Partners with AVAD in Push for Market Expansion
New Tools & Partners Open the Door to Entry-Level Buyers
Savant Systems LLC, one of the leading control and home automation brands in custom integration, has made two significant announcements recently, both sent within just a matter of three weeks between them. First was the announcement of new software tools: Savant Central Management, a new cloud-based management software, and Studio, an iPad-based field configuration tool. This announcement was followed with a second one – Savant is partnering with AVAD, a national custom integration-focused distributor with 20 locations across the U.S.
It turns out that the two Savant announcements are related. Read on to see how… [Read more…] about Savant Partners with AVAD in Push for Market Expansion
ISE Formally Announces Show Move to Barcelona
‘Welcome to Barcelona’ Press Conference Reveals Motives
Integrated Systems Europe (ISE) held a formal press conference today at 7:00AM Eastern to present more details on their plans to move ISE – the show, that is – to a new facility in Barcelona, Spain starting in 2021. Speaking at the press conference were local government officials, representatives of the owners of the ISE show (CEDIA and AVIXA), and most importantly Mike Blackman, the father of the show.
See what we learned about ISE moving to Barcelona… [Read more…] about ISE Formally Announces Show Move to Barcelona
SnapAV Launches Scalable Media over IP Solution
SnapAV, the unique national manufacturer/distributor of custom integration products based in North Carolina, announced on Tuesday that it has launched a media over IP solution designed to offer a uncommon combination of tremendous flexibility along with simplicity. Part of their Binary line, this 900 Series Media over IP solution delivers 4K UHD content with HDR support from any number of sources to any number of displays.
See more on SnapAVs new MoIP solution… [Read more…] about SnapAV Launches Scalable Media over IP Solution
Senators Call for Govt. Investigation of Smart TV Industry
With all that’s going on in the world of politics – or perhaps because of what’s going on in the world of politics – two senators are calling for an investigation of the Smart TV industry, citing concerns about a potential compromise of privacy for users of which they are unaware. This move is in response to news that emerged a few weeks back suggesting that Smart TV makers were tracking users viewing, unbeknownst to them.
What are Smart TV makers doing to get Congress riled up?… [Read more…] about Senators Call for Govt. Investigation of Smart TV Industry
AudioControl: In Full Control of The Path to Success
Strata-gee’s Exclusive All-Access Tour of AudioControl
When invited to visit AudioControl some time back, I was intrigued. While AudioControl is a secondary supplier, one step below the major electronics manufacturers, it has carved out a unique niche for itself with a solid and growing hold on the AV and mobile audio installer and integrator segments. They’ve had a long record of success, which in the last three years or so has actually increased in intensity with impressive double-digit annual sales growth, according to CEO Alex Camara.
When the stars – and our schedules – finally aligned, Camara offered Strata-gee unprecedented access to the company, including granting me the opportunity to be a “fly on the wall” and sit in on operations meetings, a company-wide CIP meeting, and even an engineering meeting to discuss current and future products – no holds barred. What I learned made a big impression.
See what we discovered in our visit to AudioControl… [Read more…] about AudioControl: In Full Control of The Path to Success
Smart Appliances are Still Looking for a Home
New research shows that while a majority of internet users own some type of smart device, almost no one owns a smart appliance – even though many manufacturers like Samsung have been pushing the category for a couple of years now. If consumers believe in “smart” technology, what’s going on with smart appliances??
See more on the lack of adoption of smart appliances in the home… [Read more…] about Smart Appliances are Still Looking for a Home
Gibson, Protected from Creditors, Still Loses Money
News of Gibson’s $10M Monthly Loss Gives Some Pause
Gibson Brands, Inc. declared bankruptcy on May 1, 2018, thereby placing themselves in Chapter 11 protection from creditors. Now under the guidance of bankruptcy court, the company buys itself time to put a plan together to present to the judge offering a path out of bankruptcy for the company. During this time, debts are frozen until the judge determines the final disposition – a disposition that typically includes some level of payment to debtors, both secured and unsecured.
So how is Gibson doing? According to a story by the Nashville Post, Gibson posted a loss of nearly $10 million in May – its first month under bankruptcy court protection from creditors.
