Harman bought out complete....

You mean everyone is now "free" to purchase a Harman? :cheese: Inquiring minds want to know Craig!

Yes, as Southwest says, you are free to roam around the country now. This, of course, does not solve the particular dealer issues - but it would be very foolish for Harman to dump their existing network which has done so well for them....

So, at this point, Harman is again as good (and maybe better) than other brands in terms of being in the marketplace and having solid backing.

I had that strange feeling last night. I some how knew that when we place our Accentra insert order last evening, it would push the deal forward!

Every little bit helps... just doing our part!

Now for the install on 12-5.

We are pretty excited. It is a beautiful appliance!

I just purchased a Harman XXV 10 days ago and now I'm relieved. I was worried
about warranty and parts issues. I'll have to send in the warranty card now!

Having worked for a large manufacturer for the last ten years that has bought several companies along the way, I would say this can only be good for the brand. It is a natural "bolt on" for HHT. However, my experience says it may not be great news for all the employee's of Harman as most acquiring companies look for synergies that will allow them them to more efficiently run the business while not compromising the brand.

Tell you this much - they wanted to get the word out. I had that fax in my inbox also (and not as Hearth.com, but as Extendaflue)......

Probably because Harman spends a LOT advertising in that Trade Mag. In fact, it is the only PR I have ever received from that Trade Mag! They don't even send me the mag, let alone anything else.....

But when I was a retailer, they sent about 5 copies to my store (keeps the circ numbers high).

i for one, am happy that this is apparantly a done deal. and the onus of the impending sale is now off the heads of the harman community. ive been kinda rooting for the deal to get done and for Dane and his bunch to come out in good shape, looks like this will happen and im happy about it . IMHO the industry would be lessened quite a bit if Dane harman wasnt a part of it.

If this has already been discussed, I apologize, but anybody know what happened to Harmon that they needed to get bought out? Cash flow?

I don't know if Harmon is big enough to have an IT department, but those guys are usually cut loose if IT systems consolidation can be accomplished. Same with purchasing and a few other admin type dept's that are suddenly redundant.

Mo Heat said:

If this has already been discussed, I apologize, but anybody know what happened to Harmon that they needed to get bought out? Cash flow?

I don't know if Harmon is big enough to have an IT department, but those guys are usually cut loose if IT systems consolidation can be accomplished. Same with purchasing and a few other admin type dept's that are suddenly redundant.

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I thought they over extended themselves (new equipment and mfg facility) in a slowing building market. Would seem that cash flow would have to have been a major factor.

As far as the redundancies that's generally how it works. Thankfully I have been on the "good side" of many acquisitions, reorganizations and restructuring.

MANIAC said:

Thankfully I have been on the "good side" of many acquisitions, reorganizations and restructuring.

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Unfortunately, I've been on the "bad side" of them. >:-(

cash flow - forced sale - excess debt, etc. No choice of any kind in the matter....

Harman has virtually no office.....I mean they let some R&D;guy so their web site for 7 years - they outsource marketing, etc.

Reading through the PR, I do note one thing - he retains ownership of the land and buildings! This keys in with the earlier releases which said HHT is not going to assume his debts........

So the buyer got all the good stuff, and left other stuff (the debts, land and buildings/leases, etc.) to Dane. I hope that does not put Dane too far behind the eight ball, because it would be a shame to have to work just to "catch up" after 25 years +. But as anyone who has been in those positions knows, business can be tough.

Personally, if I were Dane and had the choice, I'd retire..... but I'm sure he doesn't have that choice...and might not make it if he did. After all, it seems like he will never be able to top his former accomplishments.

The buyer does have a good reputation. Some of the original founders work at Quad, and they don't have to (friendly sale). Same with other folks I know whose businesses have been taken over by them. They seem pretty good as far as such companies go.

I am thrilled!

Mo Heat said:

MANIAC said:

Thankfully I have been on the "good side" of many acquisitions, reorganizations and restructuring.

Click to expand...

Unfortunately, I've been on the "bad side" of them. >:-(

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Sorry to hear that. Hope I didn't give the impression I was gloating. Those business decisions are never easy ones to make or endure.

Let me rephrase. I am thrilled that Harman will survive!

Having gone through a few mergers.....one was good...bigger company was great and provided better medical & retirement. So Harman workers could also get discounts on other HHI products and deals on stuff HHI works with.

Sounds like everything came out clean....

Devil's advocate for a minute...
Often, buyouts by larger companies lead to layoffs, consolidations and offshore production. Cheap overseas labor is all the rage in manufacturing these days.

I hope it doesn't happen in this case, but I had to say it.

I would venture that, the new VP of Advanced Technologies for Hearth & Home Technologies will put the Land & Buildings to good use. I would also venture a continuation of a fairly well evolved
business plan, clearly looking forward.

When you come from a garage, sometimes you have to go back and visit for awhile to remember what it was all about.

I wish this new partnership the best of luck in it's renewed quest for excellence!

MANIAC said:

Sorry to hear that. Hope I didn't give the impression I was gloating. Those business decisions are never easy ones to make or endure.

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You didn't. You sounded grateful, if I read anything into it.

I've been through two big reorgs. Both due to short sightedness when the money was flowing free and easy. Then, as nearly always happens, a natural ebb changed directions for some unexpected reason. Both companies had over bought real estate, over built plant, over capitalized assets, over staffed and overpaid (well, I liked that part, so I was part of the problem, I guess. 8-/ ), and thought a new gravy train would follow the last. They were both wrong. Then came the hatchet men (actually one guy and one gal). I don't know how those folks slept. I mean, you don't have to enjoy that work, even if it has to be done, right?

Just about anything can be justified with logic and the right focus. I know, I know. Don't bother with the logic. It can make sense in business terms, but it can be tough for individuals, regardless. And it's sad to see the soul and the guts of a business you watched grow around you get summarily eviscerated before your very eyes by people who had no part in building it and no understanding of what they were destroying.

You have to feel for the little antelope when the lion is taking it down and slashing it to pieces, but hey, what else is a lion going to eat? Law of the jungle, and all that. Still, all that blood can look ugly if you're not prepared for it or you get ambushed. I experienced both. But things are cool. I landed on my feet and started a new chapter each time and doors opened that would otherwise have never been experienced.