15.01.2005, 19:04
´
@ Andreas Wenn ich darben müßte, sähe es anders aus, aber da der Basndhandel mehr ein Hobby als Broterwerb ist, werde ich auf jeden Fall so preiswert wie möglich bleiben.
@ alle: Nun hat sich ein heimatverbundener Geschäftsamann aus Opelika gemeldet, der den Laden übernehmen und wieder flottmachen will, wenn er die Firma zu einem guten Preis bekommt.
Siehe hier:
http://www.opelikanow.com/servlet/Satell...!localnews
Prospective local buyer of Quantegy speaks out
Tamiko Lowery / Staff Writer
January 15, 2005
ADVERTISEMENT
While Quantegy has sunk into the depths of bankruptcy, there are those who have been cautiously waiting for the right moment to cast out a life preserver.
Race Cannon, a local prospective buyer of Quantegy, said if the price is right - and all the cards are laid out on the table - he'd become a serious contender.
Already he holds the 300-page Quantegy Chapter 11 filing but says much of it is unclear, and there are still facts that are coming out that will have a bearing on the sale price, but any investor will also have to consider the working capital required to resume production.
Cannon said he has put together a package and part of that includes ESOP, an employee stock ownership plan, meaning employees would be given stock and also the opportunity to buy stock.
"I want the employees to be able to own the company," Cannon said. "I'd also like to talk to all the employees - I want to hear from them. We need to find out what's gone wrong with management, and the best way to find out is by asking the employees. The same mistakes don't need to be repeated. I want them to feel free to say whatever they want to say in a confidential nature. I want to let them know this is their company. I want their input."
Any former Quantegy employees and investors can contact Cannon at www.cannonventures.com/quantegy.
He said he also wants to build an on-site museum and demonstration 35,000 cars a day pass the interstate exit there and how it would be a boon to the city of Opelika and to the region in establishing Opelika as a destination point. "Personally, I feel Ampex has provided a lot of benefits to Opelika throughout the years and knowing that recording artists get boxes delivered straight to their door saying made in Opelika, Alabama - well, I have a fondness for that," Cannon said. "I was raised in Opelika. My grandfather was involved in Orr radio before Mr. (Alexander) Poniatoff bought it. This could be a good business opportunity in a place that I love." Poniatoff helped to found the Ampex Corporation.
Cannon says it's hard to say at this point what his bid would be, not knowing a ballpark of what the company will be sold for, compared to what it's worth.
"There are a lot of factors to consider. I'm looking for all the facts to be laid out on the table, then I'll figure out what's fair asking price," Cannon said. "Quantegy owes $25 million to secured and unsecured creditors. No one knows if the company will be completely free of liens after the bankruptcy. There needs to be a significant change in management and repair of relationship with suppliers."
Cannon said from a managerial perspective Quantegy needs to focus on its analog audio tape line and instrumentation, saying only after that would he entertain the notion of new products.
"Money doesn't chase a deal. You should always recognize that analog audio tape is the bread and butter, and that's where the recognition needs to be and needs to stay," he said. "If I bought the company tomorrow, the first thing I'd do is turn the telephones on, start taking orders and start filling those orders. I'd create an inventory to put in warehouses and brush up on sales people who are peppered around the world. I'd make sure tape was being made day-in and day-out, that bills get paid to creditors on time and start getting tape back to the people who depend on it."
Cannon disputes recent claims made by Quantegy's CEO Richard Lindenmuth, when he said that Quantegy had "$6 million in sales last year compared to $40 million five years ago." Cannon said he didn't know where he got those numbers from and that it was more like $30 million in sales last year. He also said blame could not be placed on Imation and Digital Beta Cam for Quantegy's demise.
Attempts to reach Lindenmuth by phone Friday were unsuccessful.
"Tape is an artistic medium. Many new artists record in digital, but the people who know the industry rely on analog for its warmth and accuracy," Cannon said.
Richard L. Hess, of Vignettes Media out of Aurora, Ontario, Canada, said the market is shrinking and many of the die-hard users can't wait for Quantegy to start up and wonders, "What do they do when they run out of tape?"
"My business model is transferring old tapes to digital, so I buy very little," Hess said. "A few clients want new analog copies made to be safe, but I have enough EMTEC tape in house to cover current contracts, and I've been discouraging it for most clients."
Already tape competition is on the rise from ATR Services out of York, Penn.
According to www.atrservice.com, company officials say, "It is our belief that the Opelika facility will be producing product in the near future, but what kind and how much is still undetermined. The tremendous response to this news in the recording community has only reinforced the fact that analog recording is still very much alive and that there is still an incredible demand for analog tape." The company goes on to say, "ATR Services has been quietly working on a new line of analog tape for the past year. We are currently in the R&D stages of production, and hope to have wide-scale beta testing in place by the summer."
Cannon remains hopeful the analog audio tape business will remain in his backyard.
"I believe Quantegy can be turned around - if you're the best in the world in making audio tape, you should stick to it," Cannon said. "When one of the best products known in the world is made in Opelika - that's a good thing." 35,000 cars a day pass the interstate exit there and how it would be a boon to the city of Opelika and to the region in establishing Opelika as a destination point.
@ Andreas Wenn ich darben müßte, sähe es anders aus, aber da der Basndhandel mehr ein Hobby als Broterwerb ist, werde ich auf jeden Fall so preiswert wie möglich bleiben.
@ alle: Nun hat sich ein heimatverbundener Geschäftsamann aus Opelika gemeldet, der den Laden übernehmen und wieder flottmachen will, wenn er die Firma zu einem guten Preis bekommt.
Siehe hier:
http://www.opelikanow.com/servlet/Satell...!localnews
Prospective local buyer of Quantegy speaks out
Tamiko Lowery / Staff Writer
January 15, 2005
ADVERTISEMENT
While Quantegy has sunk into the depths of bankruptcy, there are those who have been cautiously waiting for the right moment to cast out a life preserver.
Race Cannon, a local prospective buyer of Quantegy, said if the price is right - and all the cards are laid out on the table - he'd become a serious contender.
Already he holds the 300-page Quantegy Chapter 11 filing but says much of it is unclear, and there are still facts that are coming out that will have a bearing on the sale price, but any investor will also have to consider the working capital required to resume production.
Cannon said he has put together a package and part of that includes ESOP, an employee stock ownership plan, meaning employees would be given stock and also the opportunity to buy stock.
"I want the employees to be able to own the company," Cannon said. "I'd also like to talk to all the employees - I want to hear from them. We need to find out what's gone wrong with management, and the best way to find out is by asking the employees. The same mistakes don't need to be repeated. I want them to feel free to say whatever they want to say in a confidential nature. I want to let them know this is their company. I want their input."
Any former Quantegy employees and investors can contact Cannon at www.cannonventures.com/quantegy.
He said he also wants to build an on-site museum and demonstration 35,000 cars a day pass the interstate exit there and how it would be a boon to the city of Opelika and to the region in establishing Opelika as a destination point. "Personally, I feel Ampex has provided a lot of benefits to Opelika throughout the years and knowing that recording artists get boxes delivered straight to their door saying made in Opelika, Alabama - well, I have a fondness for that," Cannon said. "I was raised in Opelika. My grandfather was involved in Orr radio before Mr. (Alexander) Poniatoff bought it. This could be a good business opportunity in a place that I love." Poniatoff helped to found the Ampex Corporation.
Cannon says it's hard to say at this point what his bid would be, not knowing a ballpark of what the company will be sold for, compared to what it's worth.
"There are a lot of factors to consider. I'm looking for all the facts to be laid out on the table, then I'll figure out what's fair asking price," Cannon said. "Quantegy owes $25 million to secured and unsecured creditors. No one knows if the company will be completely free of liens after the bankruptcy. There needs to be a significant change in management and repair of relationship with suppliers."
Cannon said from a managerial perspective Quantegy needs to focus on its analog audio tape line and instrumentation, saying only after that would he entertain the notion of new products.
"Money doesn't chase a deal. You should always recognize that analog audio tape is the bread and butter, and that's where the recognition needs to be and needs to stay," he said. "If I bought the company tomorrow, the first thing I'd do is turn the telephones on, start taking orders and start filling those orders. I'd create an inventory to put in warehouses and brush up on sales people who are peppered around the world. I'd make sure tape was being made day-in and day-out, that bills get paid to creditors on time and start getting tape back to the people who depend on it."
Cannon disputes recent claims made by Quantegy's CEO Richard Lindenmuth, when he said that Quantegy had "$6 million in sales last year compared to $40 million five years ago." Cannon said he didn't know where he got those numbers from and that it was more like $30 million in sales last year. He also said blame could not be placed on Imation and Digital Beta Cam for Quantegy's demise.
Attempts to reach Lindenmuth by phone Friday were unsuccessful.
"Tape is an artistic medium. Many new artists record in digital, but the people who know the industry rely on analog for its warmth and accuracy," Cannon said.
Richard L. Hess, of Vignettes Media out of Aurora, Ontario, Canada, said the market is shrinking and many of the die-hard users can't wait for Quantegy to start up and wonders, "What do they do when they run out of tape?"
"My business model is transferring old tapes to digital, so I buy very little," Hess said. "A few clients want new analog copies made to be safe, but I have enough EMTEC tape in house to cover current contracts, and I've been discouraging it for most clients."
Already tape competition is on the rise from ATR Services out of York, Penn.
According to www.atrservice.com, company officials say, "It is our belief that the Opelika facility will be producing product in the near future, but what kind and how much is still undetermined. The tremendous response to this news in the recording community has only reinforced the fact that analog recording is still very much alive and that there is still an incredible demand for analog tape." The company goes on to say, "ATR Services has been quietly working on a new line of analog tape for the past year. We are currently in the R&D stages of production, and hope to have wide-scale beta testing in place by the summer."
Cannon remains hopeful the analog audio tape business will remain in his backyard.
"I believe Quantegy can be turned around - if you're the best in the world in making audio tape, you should stick to it," Cannon said. "When one of the best products known in the world is made in Opelika - that's a good thing." 35,000 cars a day pass the interstate exit there and how it would be a boon to the city of Opelika and to the region in establishing Opelika as a destination point.
Frank
Wer aus dem Rahmen fällt, muß vorher nicht unbedingt im Bilde gewesen sein.
Wer aus dem Rahmen fällt, muß vorher nicht unbedingt im Bilde gewesen sein.