$7000 for a couple bits of lossy ferrite is a bit rich !! What has this industry become
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On Wed, Sep 5, 2018 at 1:26 PM, Marc - Sound Media Group (Australia) <marc@soundmedia.com.au> wrote:
Mick, I genuinely appreciate your apology and yes, it does take a lot to suck it up when you do realise you are / were wrong, so I am grateful.
You can imagine my surprise when I discovered the conspiracy that was forming and being reported back to me, when it was actually so far from the truth. I was gobsmacked. I've been doing what I do for nearly 20 years, and I pride myself on transparency and running a tight ship.
You have discovered exactly what many of us have had the misfortune of discovering with Matthew. I am also privy to the disgusting behaviour shown towards Dave, and I am sorry for him that he is now on the receiving end of Matthew's vitriol.
Without rambling, apology accepted and thank you.
Kind Regards,
Marc Rushton
Managing Director
Quote from: MichaelH on April 29, 2023, 12:16:55 PM
Has anyone noted where Andythiing started the thread?
It has now been bolted onto another obscure thread to stop Stereonet users from finding it.
Just for reference if you cannot find it on Stereonet forum here is the link
https://www.stereonet.com/forums/topic/579155-sydney-hifi-show-2023/
Quote from: Tranquility Bass on February 06, 2023, 02:05:28 PMQuote from: MichaelH on February 06, 2023, 01:22:00 PMRushton has bought a RADAR to detect members who don't comply with his rules. It's all about shutting down the Willsenton thread that has over 300 pages as its detracting from his paying sponsors. This must be killing him that this amplifier has gained the audience it has, ALL FOR FREE. I hope people keep it up.
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Stereonet should be renamed "Willsenton Audio". The brand doesn't even appear in the brands list but doesn't have too. They got 300 or more pages of free plugs and advertising which is unprecedented for a forum that heavily polices self promotion of any local brand.
Ironically there is a review of the Audio Research i/50 integrated valve amp on the same forum which is pretty much a similar product to the Willsenton Audio except it sells for $10k vs $1500 for the Willsenton Audio. For the price Audio Research are charging for the phono preamp option alone you can have one Willsenton Audio integrated amp ! Go figure.
Once the chinese start making these products it then becomes a race to the bottom which is why I am hesitant to get involved at this level anymore and focusing my efforts elsewhere. I have seen it happen with DAC's, preamps, amps, DSP etc
It's too bad that he killed off the local industry by pitting one vendor against another and watching them fall like dominoes. They all but died under his watch and he thought he was on the gravy train with his advertising bureau plugging selected imported brands and now the chinaman is stealing away market share of those brands by stealth and right under his nose too. It's a case of what goes around comes around
cheers
david
QuoteIt would appear that in the past week in the State of Minnesota District Court, County of Hennepin Fourth Judicial District, the Audio Research Company has assigned its debts and assets (sic) to the Lightwave Management Group in Minnesota. They specialize in turnaround/bankruptcy and financial crisis management.
Interesting that these papers were filed just about a week after AXPONA 2023 was over.
QuoteI reviewed the Assignment filed on April 4 in state court. Audio Research voluntarily agreed to assign all of its assets to a receiver, Lighthouse Management Group, Inc. Lighthouse Management is in the business of working with troubled businesses and regularly acts as a receiver. This process is an alternative to a bankruptcy filing in federal bankruptcy court; however, any three creditors can seek to place Audio Research into an involuntary Chapter 7 bankruptcy in federal bankruptcy court. This might occur if three creditors do not trust the process or the company's strategy in state court. Schedule B attached to the Assignment is 31-page, single-spaced list of creditors which includes many familiar names in the audio industry. The job of the receiver is to liquidate the assigned assets, collect all proceeds, pursue any claims, pay and discharge all expenses of the liquidation, and then pay and discharge (to the extent of available funds) all debts and liabilities of Audio Research. Sufficient funds may or may not be available depending on the sale proceeds and the amount of the debt. Unlike a bankruptcy filing, there is no statement of the amount of the debt in the state court filing.
The receiver has complete control and power of attorney over the assets of Audio Research. It is likely that, to maximize proceeds, the receiver will seek to sell the entirety of the assets and business (including goodwill) as a going concern; if that effort is successful, the business may continue under the ownership of the buyer. It is also possible that Audio Research already has a transaction agreed upon in place for the sale of its assets and business (including goodwill) as a going concern to a “white knight� and the filing with state court is intended to facilitate that transaction without an involuntary bankruptcy filing. I expect that Audio Research has already been (or soon will be) communicating with creditors. The argument will be that the “white knight� buyer will only contribute funds if Audio Research is not forced into bankruptcy and a bankruptcy will yield far less value for creditors.