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Center of Planet Panasonic Since 1970, AV Headquarters to be Closed, Demolished & Sold

October 14, 2014 by Ted Leave a Comment

Photo of Panasonic signIn what is surely a demonstration of a conclusive shift in its business strategy – not to mention a bit of heavy symbolism in hometown Osaka, Japan – Panasonic Corp. has announced its intentions to close, demolish and sell off the real estate of its existing AV headquarters building that served as the home of its TV and AV business since the 1970s. The center of the universe for tech-heavy Panasonic, many in Japan look to this development as a sign of the end of an era as this 160,000-sq.-meter (1.7 million-sq.-ft.) building was where the company’s TV business and digital electronics businesses were created and managed.

See more on this dramatic example of industrial change in Japan… [Read more…] about Center of Planet Panasonic Since 1970, AV Headquarters to be Closed, Demolished & Sold

Filed Under: Asian Connection, Brands, Industry Trends, Management, Manufacturers, News, Pivot Point, Strategy Tagged With: AV, Panasonic, television, TV

Nortek’s Struggling AV Division Forces Company to Book a $46.2 Million Q2 Net Loss; Burke is Out

August 5, 2014 by Ted 9 Comments

Sean Burke, Head of Technology Solutions Group is Leaving Company

Nortek LogoNortek Inc. released yesterday the financial results for their fiscal second quarter and first half showing a solid overall sales gain of 13.9% to $718.6 million, up from $630.7 million in the same quarter last year. Sales increased at a more moderate pace for the first half, coming in at $1.266 billion or 10.1% higher than the $1.149 booked last year.

But in a bit of a surprise, the company chose to break out the results of their AV division separately – clearly exposing what many had suspected forĀ  a couple of years now – this division is in serious trouble. Even more surprising, in a filing with the SEC, the company revealed that Sean Burke, Group President of the Technology Solutions Group is leaving the company “to pursue other interests.”

See more on just what Nortek’s latest financial results show… [Read more…] about Nortek’s Struggling AV Division Forces Company to Book a $46.2 Million Q2 Net Loss; Burke is Out

Filed Under: Brands, Financial, Management, Manufacturers, News, Pivot Point, Strategy Tagged With: Almon Hall, AV, Michael J. Clarke, Nortek, Sean Burke

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A former dealer, manufacturer, distributor & more. Focusing on business strategy, my goal is to help you make better decisions for greater success.

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