Nortek Files Chapter 11, to Cut Debt by $1.3B

You know what, it wouldn’t be bad if all of them closed for good.

I noticed that most of the loss was a write down of goodwill.  Have to wonder if that was the same goodwill the company used to secure the bonds in the first place?  Where did the money from those bonds go?  Something a little shady here; this whole hold a gun to your head and tell them if you don’t cancel the debt you’re going to shoot.  I don’t know something about this just doesn’t sit right.  I wonder who’s making out in this deal?

What a horrible portfolio!

OhMyGod, you are an idiot.  Our industry wouldn’t be as good as it is now if it wasn’t for innovations from Niles, Speakercraft, Xantech, Panamax, and Gefen.  Where would you get your IR emitters from?  What company would you use to replace Gefen’s line with?  You going to use Monster surge/power strips? 
  Competition causes companies to get better or shut down, and these companies are the competition.  Taking them away will leave the others with stagnet products because they wouldn’t have to do anything to increase sales.

Jeff - clearly you don’t know what else it out there.  There’s still plenty of competition, plenty of places to get IR emitters from, and plenty of places to get HDMI over Cat 5 baluns that don’t work well.  Your mother smells.

lol at “plenty of places to get HDMI over Cat5 baluns that don’t work well.”

Wow,how immature for “OhMyGod” to be so childish with his comments. I thought this was an industry of mature adults. This website is based on industry professionals and it sounds like you are neither in the industry or very professional.

TexasRadio - you tell em partner!  We can call people idiots on this site but we can’t comment on their hygiene.  Professionally speaking, what do you think about those Gefen HDMI baluns?

OhMyGod-  If you think all Gefen makes is HDMI baluns, then you are proving my point.  Name another quality IR maker.  Niles and Xantech have been the industy leaders and pioneers in this catagory, take them away and that leaves us with a bunch of cheap IR systems.  Who fixed the IR repeater issue with DirecTV?  Niles.  Who fixed the IR issue with plasmas?  Xantech.

You said it wouldn’t be bad if they all closed for good.  That is a moronic thing to say.  These are all American companies.  They have engineers on staff here.  Sure they make most of their products overseas, but it was all designed here, by tax-paying Americans.  SO you would rather buy you cheap rebadged foreign knock-offs at a cheaper price than support your home-team products.

I do not know if Jeff’s mother smells, however I think comments by “OhMyGod” solidified is lack of intelligence in the area of consumer electronics.

In regards to the Gefen products I think they are pretty great and innovative with their solutions.We need companies like this to develop products that can offer us other solutions.

BTW, if my mom does smell, then stay away from her or tell her to take a shower.

Good companies, all.  They went private so someone could make loads of money.  The cash went somewhere.  I say, break them back into their individual parts and let them try to survive.  Maybe start manufacturing back here in the good ‘ole USofA.  Pay some good wages, health care, taxes.  Win-win-win for everyone.

Ohmygod it goes without saying and I tried to resist but you are such a complete ass. You would want thousands of Americans to loose their jobs. Sit and THINK about more than the manufacturers but the damage that would be caused to thousands of dealers. I work for a manufacturer now not under the Nortek umbrella but sold Niles and Elan for many years. We are connectivity partners with HomeLogic who are first class people.

Hopefully you are not involved in this industry.

Well said “ACTUATOR” I think that is true that we may all be competitors in this field, we all have a vested interest in each others well being.

If any company closes in this industry it is missed as the people who work for them are the lost relationships.

Guys, There is no need to respond to OMG. You are feeding him like the news media is feeding Balloon boy and his parents.
The companies missing from this are the ones that suffer and add to the cost of business and COL for all. The shed debt, means they are not going to pay their bills to painters, carpetcleaners, contracts for contributions to 401ks, software and hardware companies. Leases for furniture and office space.
Others are suffering as a result.
After some Judge absolves them of their debt and if they get 250mil in new funds, How much will the CEO get? Will they even attempt to pay some their past debt? I would like to see the salary and bonus pay reports and compare before and after.