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Thread: Harman Share down 38% yesterday

  1. #16
    Senior Member DavidF's Avatar
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    Quote Originally Posted by Forbes.com View Post
    Thing is, the experience wasn’t in electronics, as Harman acknowledged. “We have a very interesting business. It is almost impossible to imagine finding a chief executive officer with significant technical experience in the particular field of our engagement. And so what we look for is a literacy in that arena and we found it flourishing in Doug Pertz.”
    :dont-know
    I believe this is a concession to the problems HK had in trying to find the ideal candidate. Often times a CEO candidate is sought with certain leadership capabilities that override requirements for technical or industry-specific experience. Certainly related industry experience is a plus but how many candidates are out there? There are not many US based CE holding companies the size of HK to draw from.
    David F
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  2. #17
    Senior Member edgewound's Avatar
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    Quote Originally Posted by DavidF View Post
    I believe this is a concession to the problems HK had in trying to find the ideal candidate. Often times a CEO candidate is sought with certain leadership capabilities that override requirements for technical or industry-specific experience. Certainly related industry experience is a plus but how many candidates are out there? There are not many US based CE holding companies the size of HK to draw from.
    You can't...realistically...overlook the possibility that he was a member of the right Country Club.

    When Dr. Harman said that "he had a literacy in this arena..." just how deep did his literacy go?

    The current CEO of HAR, Dinesh Paliwal seems to understand the recurring levels of R&D expenditures in this industry to keep innovating for the future of the companies survival. Had the investment bankers had their way, you would see Harman Int'l broken up and sold for the sum of it's parts. Is that a good thing? In the short term maybe. In the long term, we would probably see the stable of Harman's US brands under the ownership of Chinese and Indian companies.

    It seems all the qualified exec talent in CE corporations these days has been bought by Samsung, Sony, Pioneer.

    It wouldn't surprise me in the least to find near future accumulation of HAR stock by....you guessed it....Goldman Sachs. What they care about most is maximizing their return on capital. They really don't care about individual businesses. They care about at what price they buy and sell the stock.

    Actually owning and running a business is far too dirty for Wall Street investment bankers.

    And please don't tell me the "Big Haired" SEC will be knocking on their doors. GS probably has a few friends in there too.

    Call me cynical. Call me a realist.
    Edgewound...JBL Pro Authorized...since 1988
    Upland Loudspeaker Service, Upland, CA

  3. #18
    Senior Member duaneage's Avatar
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    This is a huge drop for HAR, I hope they recover.

    My limited experience in the area of CEO headhunting comes from working at a large Biomedical maker years ago. They hired a CEO from one of the phone companies to be CEO. Nobody could figure out why they went so far out of the industry for someone and gave a golden parachute to boot. Within 4 years he ws gone, took his cash out with him, and a few minions left as well.

    The problem was there were no preceived candidates to be promoted into the job. The founder was getting older adn spent a long time trying to find an heir. The business was finally sold to a large conglomerate and they liquidated the company. I won't name names but it was one of the bigger whales that ate us.

    I hope HAR does not end up in the hands of Chinese concerns or face a worse fate.
    Why buy used when you can build your own?

  4. #19
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    Quote Originally Posted by Ian Mackenzie View Post
    .
    .
    That lack of confidence in the U.S and the sub prime lending problem has wiped billions off the Australian share market recently.
    Wow, that is sad, but this gives the old saying, "When the USA sneezes, the rest of the world catches a cold" a whole new meaning. Who says that the US is not important in the world market place. Wiping out billions of dollars whether it is AUS or USA is not fun.

  5. #20
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    Quote Originally Posted by duaneage View Post
    This is a huge drop for HAR, I hope they recover.

    My limited experience in the area of CEO headhunting comes from working at a large Biomedical maker years ago. They hired a CEO from one of the phone companies to be CEO. Nobody could figure out why they went so far out of the industry for someone and gave a golden parachute to boot. Within 4 years he ws gone, took his cash out with him, and a few minions left as well.

    The problem was there were no preceived candidates to be promoted into the job. The founder was getting older adn spent a long time trying to find an heir. The business was finally sold to a large conglomerate and they liquidated the company. I won't name names but it was one of the bigger whales that ate us.

    I hope HAR does not end up in the hands of Chinese concerns or face a worse fate.
    I have dealt with a few consulting companies, not excutive head hunting, but many of them have MBAs, PhDs staff from the Ivy League schools, but they no real experience in the industry they are trying to hire for. They need people who are familiar with the industry. In today's economic environment, one mistake can be a fatal one and so the new CEO must make the correct decision every time, one wrong move and you're toast. Remember "you must choose wisely."

    In Harmon's case, they need a entertainment industry guy, whether movie or music doesn't matter.

    I am hoping beyond hope, that Harmon will NOT end up like Altec.

    Here is an idea, is there any chance of bringing Sydney Harmon back into the picture?

  6. #21
    Senior Member duaneage's Avatar
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    Today's business leaders look at megatrends, trendy management ideas, and the latest management fad. Next come the cost cutters adn outsourcers that claim to find gold among the rocks of the old ways of doing things. After that we have the 26 Year Old business school grads being put in charge of 10, 20, 25 year employees who are treated like idiots because they didn't go to business school.

    And far down the line, at the bottom, somewhere, is the lowly customer. Marketing does not know nor care what they want, it's their (preceived) job to invent what people need and find a way to sell them more of it every year. I think what drives Ebay sales of vintage items is the yearning for what really worked for people, not what we are advertised about. Maybe it'd the notion of buying an object that is NOT being touted all over TV or is in short supply for the holidays. HAR sells old school blue faced studio monitors ONLY in Japan for Heaven's sake. I think that is incredibly dumb given the huge demand for 30 year old systems on Ebay today.

    Not only do we now live in a throwaway, outsourced, commodity driven world, it's a place where things change so fast you have to make your mark quick and cash out in a hurry. Name someone in business for the long haul, willing to slowly build a reputation and take a few hits today for a better tomorrow.

    If all this sounds old fashion, it is. And that is why I still work for a large non-caring company and not for myself. I'm not sure I could be a modern businessman for long.
    Why buy used when you can build your own?

  7. #22
    clmrt
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    Quote Originally Posted by duaneage View Post
    "Today's business leaders look at megatrends, trendy management ideas, and the latest management fad. Next come the cost cutters adn outsourcers that claim to find gold among the rocks of the old ways of doing things. After that we have the 26 Year Old business school grads being put in charge of 10, 20, 25 year employees who are treated like idiots because they didn't go to business school.

    And far down the line, at the bottom, somewhere, is the lowly customer. Marketing does not know nor care what they want, it's their (preceived) job to invent what people need and find a way to sell them more of it every year. "

    "Not only do we now live in a throwaway, outsourced, commodity driven world, it's a place where things change so fast you have to make your mark quick and cash out in a hurry. Name someone in business for the long haul, willing to slowly build a reputation and take a few hits today for a better tomorrow."
    If you don't mind, I'd like to copy this and staple it to the wall of my cubicle.

  8. #23
    Senior Member duaneage's Avatar
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    Quote Originally Posted by clmrt View Post
    If you don't mind, I'd like to copy this and staple it to the wall of my cubicle.
    Go ahead, you have my blessing.

    It's a bit quick but it sums up my take on how things are done anymore.
    Why buy used when you can build your own?

  9. #24
    clmrt
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    Since we channged OS at work (JBA to Oracle) inventory and material handling has gone completely out if control. It's so bad that rather than doing my normal strategic planning, I'm doing tactical hit and run operations to keep our field guys running.

    After nearly three years and all the 6sigma you can shake a stick at, our management has lost faith in our ability to do our jobs. Now they are telling us we should be doing what we did several years ago, to which we reply - "WE KNOW!"

    But, at the same time, they treat us like we should explain what we do, why we do it, and why - at the same time - we can't do our regular jobs. They don't understand that all this "discussion" and "management education" is fruitless unless THEY put it to real use. But instead of listening and changing people's poor behavior (not following established processes) they use this feedback to shop for expensive consultants, two of which I had the pleasure of meeting yesterday.

    Net result is everyone sees this as a problem with how we use Oracle. But Oracle works if you understand it - and most of our people don't. And that's what is messing it all up.

    I'm going to take good advantage of my time with these consultants.

    Sorry for the rant. Back to your regularly scheduled thread....

  10. #25
    Senior Member duaneage's Avatar
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    I've also experienced six sigma. My condolences.
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    Why buy used when you can build your own?

  11. #26
    Member AdamimAdam's Avatar
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    Im not sure if how germane this is to the conversation but.

    This tube amp for IPOD's
    May seem silly enough but at $760 it could be just the new age kinda stuffage that people want. Including my sister.
    One critic described it as light bulbs. LOL

    "Word" has it that its made by a former Hardon Employee.
    Heres a link for a good look see.

    Gota admit its a pretty nice toy.
    Roth Audio
    Attached Images Attached Images  
    "My wife said it was ok"

  12. #27
    Administrator Robh3606's Avatar
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    I've also experienced six sigma. My condolences.
    I find these rants funny becasue I have been there as well. Oracle sucks! Just go back to manual stock cards to manage your inventory. Iso is no better. If the procedure says to throw the television down a flight of stairs before you put it on the stock shelf that's just fine. Six Sigma is a complete waste of time in management doesn't participate. They never do.

    End of rant

    Love the warm glow on the IPod. Hey if it's packed with lossless audio??

    Yeah I know just like Six Sigma they never are.

    Rob

  13. #28
    Senior Member 4345's Avatar
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    Bottom Line

    I am not quite sure if Harman is being run by people who care too much about the profitability of the company. With offices in Washington near his wife, perhaps Mr. Harman has lost some of his interest in the business. God knows he does not need the money any more. However, if I were a shareholder I would be a little upset about the company losing half its value so quickly.

    We always wonder on this site why they don't market some of the high end JBL items in the U.S. or why some of the products JBL comes out with are a little wacky. How do you explain this strange behavior? I think the simple answer is that it is other peoples money that the employees are playing with. I think at some point the other people (shareholders) get pissed. They sell their stock and move on to better run businesses.

    I don't wish Harman any ill will. Just the opposite. However, I think those at the top have taken their eyes off the ball a little.

  14. #29
    RIP 2013 Rolf's Avatar
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    "But I have the Crystal Ball"!! (FZ)

  15. #30
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    Quote Originally Posted by 4345 View Post
    We always wonder on this site why they don't market some of the high end JBL items in the U.S...
    I think it's been well established that the US market is relatively small for high-end JBL's, even though to us in the forums, it seems everyone is looking for the best. How much JBL marketing, (or lack thereof), influences percieved demand is open to question, though I personally don't see what it would hurt to make their Japanese and other foreign models available here...

    John

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