In case you've not heard, DEI Holdings sold to Charlesbank Capital Partners

Danny Tse
Danny Tse Posts: 5,206
edited June 2011 in The Clubhouse
Just a "heads up"....could've been Audiovox

http://www.directed.com/Company/PressReleases/2011/20110620.aspx?SiteId=2
Post edited by Danny Tse on
· Share on FacebookShare on Twitter

Comments

  • megasat16
    megasat16 Posts: 3,521
    edited June 2011
    There goes Polk! What can change in terms of Customer Service and Distributions?
    Trying out Different Audio Cables is a Religious Affair. You don't discuss it with anyone. :redface::biggrin:
    · Share on FacebookShare on Twitter
  • nooshinjohn
    nooshinjohn Posts: 25,394
    edited June 2011
    http://en.wikipedia.org/wiki/Charlesbank_Capital_Partners


    The group also holds tire distributors and Zenith... not sure if this is good news for the higher end Polk products, given what their other holdings are.
    The Gear... Carver "Statement" Mono-blocks, Mcintosh C2300 Arcam AVR20, Oppo UDP-203 4K Blu-ray player, Sony XBR70x850B 4k, Polk Audio Legend L800 with height modules, L400 Center Channel Polk audio AB800 "in-wall" surrounds. Marantz MM7025 stereo amp. Simaudio Moon 680d DSD

    “When once a Republic is corrupted, there is no possibility of remedying any of the growing evils but by removing the corruption and restoring its lost principles; every other correction is either useless or a new evil.”— Thomas Jefferson
    · Share on FacebookShare on Twitter
  • Rivrrat
    Rivrrat Posts: 2,101
    edited June 2011
    I wish I would've bought into DEI back around the first of the year. :rolleyes:
    My equipment sig felt inadequate and deleted itself.
    · Share on FacebookShare on Twitter
  • Danny Tse
    Danny Tse Posts: 5,206
    edited June 2011
    nooshinjohn wrote: »
    The group also holds tire distributors and Zenith... not sure if this is good news for the higher end Polk products, given what their other holdings are.

    Are you talking about Zenith, as in Zenith TV? That Zenith was purchased by Korea's LG Electronics back in 1995.
    · Share on FacebookShare on Twitter
  • nooshinjohn
    nooshinjohn Posts: 25,394
    edited June 2011
    Danny Tse wrote: »
    Are you talking about Zenith, as in Zenith TV? That Zenith was purchased by Korea's LG Electronics back in 1995.

    Nope... I speak of the Zenith Products made for the crapper.


    http://www.zenith-products.com/


    They also control restaraunt chains, insurance companies and bankruptcy management firms. I fail to see their interest in consumer electronics, given their other holdings.
    The Gear... Carver "Statement" Mono-blocks, Mcintosh C2300 Arcam AVR20, Oppo UDP-203 4K Blu-ray player, Sony XBR70x850B 4k, Polk Audio Legend L800 with height modules, L400 Center Channel Polk audio AB800 "in-wall" surrounds. Marantz MM7025 stereo amp. Simaudio Moon 680d DSD

    “When once a Republic is corrupted, there is no possibility of remedying any of the growing evils but by removing the corruption and restoring its lost principles; every other correction is either useless or a new evil.”— Thomas Jefferson
    · Share on FacebookShare on Twitter
  • billbillw
    billbillw Posts: 6,745
    edited June 2011
    Ugh. This isn't good. I don't expect good things in the future for Polk nor for this forum.
    For rig details, see my profile. Nothing here anymore...
    · Share on FacebookShare on Twitter
  • nooshinjohn
    nooshinjohn Posts: 25,394
    edited June 2011
    Far too soon to go there Bill, but it does mean we should be on the lookout for the changes that will surely come our way.
    The Gear... Carver "Statement" Mono-blocks, Mcintosh C2300 Arcam AVR20, Oppo UDP-203 4K Blu-ray player, Sony XBR70x850B 4k, Polk Audio Legend L800 with height modules, L400 Center Channel Polk audio AB800 "in-wall" surrounds. Marantz MM7025 stereo amp. Simaudio Moon 680d DSD

    “When once a Republic is corrupted, there is no possibility of remedying any of the growing evils but by removing the corruption and restoring its lost principles; every other correction is either useless or a new evil.”— Thomas Jefferson
    · Share on FacebookShare on Twitter
  • aviator
    aviator Posts: 159
    edited June 2011
    Hmmm???
    · Share on FacebookShare on Twitter
  • Tony M
    Tony M Posts: 11,146
    edited June 2011
    Lasareath wrote: »
    Buy as many RD0-198's as you can now. Before they are gone forever!!!!!!!

    If I see them getting clearanced out, you can bet I'll spend 500.00 on some. And I bet I won't be alone. But then again, that other company sells something that fits in the holes also. Somebody on this forum bought some and was suposed to report back to us on their quality of sound compaired to the RDO-194's. I lost track of that tread. I think it was a yr. ago.
    Most people just listen to music and watch movies. I EXPERIENCE them.
    · Share on FacebookShare on Twitter
  • nadams
    nadams Posts: 5,877
    edited June 2011
    I don't know that it'll change much around here... nobody really can tell that. The business I work for is owned by a holding company, and we are the only snack food company in their portfolio. They left our management alone for the most part, apart from keeping an eye on spending/income.

    Waaaay too early to start running around with a "sky is falling" attitude about Polk. They're a successful company, and hopefully the new partner will see that.
    Ludicrous gibs!
    · Share on FacebookShare on Twitter
  • treitz3
    treitz3 Posts: 19,004
    edited June 2011
    Polk has had ownership changes before and they are still here, providing the same great speakers at the price point they aim for and the same great customer service before and after the sale. Have a little faith, will ya'?
    ~ In search of accurate reproduction of music. Real sound is my reference and while perfection may not be attainable? If I chase it, I might just catch excellence. ~
    · Share on FacebookShare on Twitter
  • Face
    Face Posts: 14,340
    edited June 2011
    We had the same kind of thread here went DEI took over.
    "He who fights with monsters should look to it that he himself does not become a monster. And when you gaze long into an abyss the abyss also gazes into you." Friedrich Nietzsche
    · Share on FacebookShare on Twitter
  • schwarcw
    schwarcw Posts: 7,335
    edited June 2011
    Holding companies look to invest capital with equity partners in companies that have growth potential. Holding companies try to grow companies, not liquidate them. They ultimately make money through revenue growth and the value of the holding grows. Ultimately, they may resell the business after a they grow the business. This is what they do.

    This is probably not a bad thing. DEI probably had difficulty securing loans or credit to invest in their company. Much of this problem due to the credit crunch following the failure of many financial institutions. I wouldn't expect to see much change in the day to day tactical side of the business. The changes will be more strategic looking for growth opportunities through investment.
    Carl

    · Share on FacebookShare on Twitter
  • quadzilla
    quadzilla Posts: 1,543
    edited June 2011
    Face wrote: »
    We had the same kind of thread here went DEI took over.

    Pretty much what I was thinking. I'll be watching, but for now, I see no reason to even be concerned.
    Turntable: Empire 208
    Arm: Rega 300
    Cart: Shelter 501 III
    Phono Pre: Aural Thrills
    Digital: Pioneer DV-79ai
    Pre: Conrad Johnson ET3 SE
    Amp: Conrad Johnson Evolution 2000
    Cables: Cardas Neutral Reference
    Speakers: SDA 2.3TL, heavily modified
    · Share on FacebookShare on Twitter
  • dorokusai
    dorokusai Posts: 25,577
    edited June 2011
    Yeah, give me a break guys. A lot of businesses are merging to survive and in case you haven't noticed, Polk Audio is still here while some other well loved manufacturers have been gone for almost 5-10 years. Where was your pain and anguish over them?

    Guess what else? Polk makes money, always has, always will.
    CTC BBQ Amplifier, Sonic Frontiers Line3 Pre-Amplifier and Wadia 581 SACD player. Speakers? Always changing but for now, Mission Argonauts I picked up for $50 bucks, mint.
    · Share on FacebookShare on Twitter
  • RuSsMaN
    RuSsMaN Posts: 17,987
    edited June 2011
    80 new products in 2 years. EIGHTY. Ponder that for a moment.

    I think Polk is ok. If you are genuinely concerned, quit buying RDO tweeters and close escrow on some current product!
    Check your lips at the door woman. Shake your hips like battleships. Yeah, all the white girls trip when I sing at Sunday service.
    · Share on FacebookShare on Twitter
  • Jstas
    Jstas Posts: 14,809
    edited June 2011
    RuSsMaN wrote: »
    80 new products in 2 years. EIGHTY. Ponder that for a moment.

    I think Polk is ok. If you are genuinely concerned, quit buying RDO tweeters and close escrow on some current product!

    WHAT!?!? That's crazy talk! :rolleyes: :tongue:
    Expert Moron Extraordinaire

    You're just jealous 'cause the voices don't talk to you!
    · Share on FacebookShare on Twitter
  • pitdogg2
    pitdogg2 Posts: 25,413
    edited June 2011
    Danny Tse wrote: »
    Are you talking about Zenith, as in Zenith TV? That Zenith was purchased by Korea's LG Electronics back in 1995.

    actually it was Goldstar back then. They changed it to LG because Goldstar was known for cheap inferior products.
    · Share on FacebookShare on Twitter
  • shack
    shack Posts: 11,154
    edited June 2011
    Say what you will...pro/con...but there are always business risks when these sort of things happen. Hopefully is it a good thing for our friends that are part of the Polk line of business. Time will tell.
    "Just because you’re offended doesn’t mean you’re right." - Ricky Gervais

    "For those who believe, no proof is necessary. For those who don't believe, no proof is possible." - Stuart Chase

    "Consistency requires you to be as ignorant today as you were a year ago." - Bernard Berenson
    · Share on FacebookShare on Twitter
  • Jstas
    Jstas Posts: 14,809
    edited June 2011
    pitdogg2 wrote: »
    actually it was Goldstar back then. They changed it to LG because Goldstar was known for cheap inferior products.

    That's funny 'cause that's how I pretty much think of LG. Cheap, inferior products.
    Expert Moron Extraordinaire

    You're just jealous 'cause the voices don't talk to you!
    · Share on FacebookShare on Twitter
  • DollarDave
    DollarDave Posts: 2,575
    edited June 2011
    Jstas wrote: »
    That's funny 'cause that's how I pretty much think of LG. Cheap, inferior products.

    You got that right.
    · Share on FacebookShare on Twitter
  • tonyb
    tonyb Posts: 32,957
    edited June 2011
    Maybe someone should crunch some numbers and see how much it would cost each member to buy back the company....that would be cool, Shack as prez,Jesse the VP, Russ and Mark in charge of product development, maybe even T-unit sweeping up the warehouse, we'd even let him take home all the cardboard he wanted.
    HT SYSTEM-
    Sony 850c 4k
    Pioneer elite vhx 21
    Sony 4k BRP
    SVS SB-2000
    Polk Sig. 20's
    Polk FX500 surrounds

    Cables-
    Acoustic zen Satori speaker cables
    Acoustic zen Matrix 2 IC's
    Wireworld eclipse 7 ic's
    Audio metallurgy ga-o digital cable

    Kitchen

    Sonos zp90
    Grant Fidelity tube dac
    B&k 1420
    lsi 9's
    · Share on FacebookShare on Twitter
  • mhardy6647
    mhardy6647 Posts: 33,769
    edited June 2011
    LG = Lucky Goldstar.
    · Share on FacebookShare on Twitter
  • TECHNOKID
    TECHNOKID Posts: 4,298
    edited June 2011
    pitdogg2 wrote: »
    actually it was Goldstar back then. They changed it to LG because Goldstar was known for cheap inferior products.
    ...and LG also acquired zenith. LG is made of loosing companies. Zenith was once a good brand but definitely not their past years. Goldstar was cheap as hell and is still under the LG brand, never bought any LG product and don't think I will ever.
    Jstas wrote: »
    That's funny 'cause that's how I pretty much think of LG. Cheap, inferior products.
    Hum, for once we are on the same page. :cool:

    As far as the OP, business is business. Companies get bought and sold all the time. As long as Polk keeps its business style and provides us the same outstanding customer service, we do not have anything to complain or worry about.
    DARE TO SOAR:
    “Your attitude, almost always determine your altitude in life” ;)
    · Share on FacebookShare on Twitter
  • nooshinjohn
    nooshinjohn Posts: 25,394
    edited June 2011
    tonyb wrote: »
    Maybe someone should crunch some numbers and see how much it would cost each member to buy back the company....that would be cool, Shack as prez,Jesse the VP, Russ and Mark in charge of product development, maybe even T-unit sweeping up the warehouse, we'd even let him take home all the cardboard he wanted.

    Let's not forget putting Jstas in charge of Public Relations:wink::tongue:...
    The Gear... Carver "Statement" Mono-blocks, Mcintosh C2300 Arcam AVR20, Oppo UDP-203 4K Blu-ray player, Sony XBR70x850B 4k, Polk Audio Legend L800 with height modules, L400 Center Channel Polk audio AB800 "in-wall" surrounds. Marantz MM7025 stereo amp. Simaudio Moon 680d DSD

    “When once a Republic is corrupted, there is no possibility of remedying any of the growing evils but by removing the corruption and restoring its lost principles; every other correction is either useless or a new evil.”— Thomas Jefferson
    · Share on FacebookShare on Twitter
  • nooshinjohn
    nooshinjohn Posts: 25,394
    edited June 2011
    Jstas wrote: »
    That's funny 'cause that's how I pretty much think of LG. Cheap, inferior products.

    LG actually makes some pretty nice LCD/LED flat panels. I have not had a nickels worth of trouble out of any that I have owned. My mom has gone through Samsungs like water through a garden hose.
    The Gear... Carver "Statement" Mono-blocks, Mcintosh C2300 Arcam AVR20, Oppo UDP-203 4K Blu-ray player, Sony XBR70x850B 4k, Polk Audio Legend L800 with height modules, L400 Center Channel Polk audio AB800 "in-wall" surrounds. Marantz MM7025 stereo amp. Simaudio Moon 680d DSD

    “When once a Republic is corrupted, there is no possibility of remedying any of the growing evils but by removing the corruption and restoring its lost principles; every other correction is either useless or a new evil.”— Thomas Jefferson
    · Share on FacebookShare on Twitter
  • stuwee
    stuwee Posts: 1,508
    edited June 2011
    :eek: The thread title scared me, I thought it was about Dale Earnhardt Industries http://daleearnhardtinc.com/ :biggrin:, I can breathe a little better now!
    Thorens TD125MKII, SME3009,Shure V15/ Teac V-8000S, Denon DN-790R cass, Teac 3340 RtR decks, Onix CD2...Sumo Electra Plus pre>SAE A1001 amp>Martin Logan Summit's
    · Share on FacebookShare on Twitter