Strategy in TECH...
I recently became aware of the fact that Vanco, the Chicago-based manufacturer of a broad range of mostly accessory products had decided to become a master distributor for a product category that we all need, we all use, and yet to which we pay little attention. It is in this reality, Vanco’s President Mark Corbin tells me, that there lies a tremendous opportunity to better serve our customers and to add meaningful profit to our financials.
In a rare show of bipartisanship, a group of U.S. Senators has sent a strongly worded letter to a leading consumer electronics industry remote control maker Universal Electronics, Inc. (UEI) launching a probe into the company’s hiring practices in China. Unique to UEI is that they own their own factories in China (most contract with existing China OEM factories) and a recent damning investigation by Reuters alleges the company is working with the Chinese government to utilize a widely persecuted Uyghur minority in a forced labor arrangement, a human rights violation. UEI has denied the accusation but so far has not provided data to back up their denial.
In new data from the U.S. Census Bureau and the U.S. Department of Housing and Urban Development, residential housing construction starts dropped 1.6% in September as compared to the previous month’s reading. This rate is the lowest level of housing starts in five months. Also concerning, building permits – a leading indicator of future construction – registered a sharp drop, down 7.7% below the previous month.
Azione Unlimited announced today that it has partnered with Nationwide Marketing Group, a group representing more than 14,000 storefronts made up largely of appliance, furniture, and electronics retailers. While Nationwide may not be an immediately obvious choice as a partner for Azione, the custom integration specialist group maintains that it makes perfect sense as they say integrators must be able “to address all of their clients’ needs, no matter the room in the home.”
The Custom Electronic Design & Installation Association (CEDIA) announced today that it has named Daryl Friedman as its new Global President & CEO. Friedman’s appointment is effective as of November 27, 2021. Don’t know that name? I’m not surprised as Friedman, an experienced Association executive, comes from the Recording Academy…the folks who bring you the Grammy awards. In an interview this week, Friedman told me that he’s close to the engineers and producers – the highly technical folks in his current association – so he brings a clear technology appreciation to his new role.
I have just learned that Crestron is planning to launch a monster series of regional dealer shows, called the Crestron NEXT Road Trip, that sounds as though they’re going to be spectacular – with new product launches, full product displays & demos, and in-depth educational courses offered. The multi-day event will include huge displays from both the company’s commercial and residential business units in what promises to be quite a show.
CI coaching business Vital announced this week that well-known industry veteran Lawrence Davis has joined the company as its new VP of Business Development. The company says that this move is “the first step in their growth plan.”
Bowers & Wilkins (B&W) continues to launch new products without missing a beat since they became part of Sound United a little over a year ago. And those products span the range from their revered high-end 800 Series Diamond models to now, a refresh of their Zeppelin speaker system that the company describes as “a complete stereo system in one component.”
Moody’s Investors Service, one of the nation’s largest credit rating agencies, announced last week that it has raised the credit rating of Guitar Center, the owner of custom integration company Audio Visual Design Group. Guitar Center has struggled for years, finally falling into bankruptcy – from which it emerged about ten months ago in December 2020.
Kaleidescape announced this week an expansion of its movie server line with the new compact Terra 18TB. Positioned as a mid-level model for the brand, the Terra 18TB offers some sweet features that are sure to make it a popular option for movie fans.
