on carver.com i think a "domain pirate" picked up the domain and wants to sell it for big bucks now.....
on carver company my take on this is, past owner Mr. Carver returns to namesake company. He has developed a name for himself in the products that he makes (speakers). He has high end company Sunfire and old company Carver which he is going to knock off his own high end designs from Sunfire and release under Carver name. New merchandise will be out after regrouping and the companies will merge possibly.
i am thinking it should be about time???
anyway here is an assortment of cut and paste on carver company...all of it collected about a month ago...
It seems like they have some innovative products. And the guy who started the company years ago, Bob Carver, is back in the driver's seat. See the press release of February 3, below. The stock price has remained idle over the past few months with a 52 week low Dec 21, 1998. The other company Bob Carver started after he left CAVR is called Sunfire and is a privately held company so there is not a lot of readily available information. The innovative products, from what I can see most of these products are from the mind of Bob Carver. So it will be interesting to see if he can take CAVR back to the trading levels of years ago. If you look at the long term chart (back to 88) you will see this stock traded in the high teens.
I talked with some Sunfire folks at CES and got some information. It was news a while ago that Bob Carver had bought back Carver Corp. What was indeterminate was what would happen to the existing Carver line. Well, now we know: all existing Carver products are discontinued (I don't know how warranties will be handled). There are new Carver products in the works and they will share the appearance and design of many Sunfire products. The upcoming Carver receiver looks like a Sunfire Theater Grand, for instance.Sunfire will be positioned a high-end, leading edge company and Carver a lower-end but quality company. They are already having some branding issues. One unreleased product that they were showing was branded a Sunfire product but will most likely be released with the Carver brand. Marketing 101!
For those of you who are interested in Carver products you will be happy toknow that the Bob Carver has agreed to assume the mantle of the company hefounded long ago.I got this information directy from Yahoo's business site if your interestedyou an visit the site athttp://biz.yahoo.com/prnews/990201/wa_carver__1.html Monday February 1, 6:01 am Eastern TimeCompany Press ReleaseSOURCE: Carver CorporationCarver Announces Agreement With Bob CarverSNOHOMISH, Wash., Feb. 1 /PRNewswire/ -- Carver Corporation (the''Company'') today announced that it has executed an agreement with RobertW. Carver, its founder, Chief Executive Officer and Chairman of its Board ofDirectors, and with Mr. Carver's privately-held Sunfire Corporation forSunfire to (i) direct the development, manufacturing, marketing anddistribution of a new line of products for the home and car under the ''Carver'' brand name that incorporates certain new technologies, (ii) establish a new manufacturer's representative and independent dealernetwork, in order to rebuild Carver Corporation as a dominant force in theUSA as a manufacturer of consumer audio electronics, and (iii) for Mr.Carver to assume full operational control of the Company pursuant to theoperating agreement.As consideration for such services, Mr. Carver will be granted an 80%ownership interest in Carver Corporation, subject to shareholder finalapproval. In addition, a repurchase option will be granted to the Companywhich may be executed under certain specified conditions. As previouslyannounced, the Company and Sunfire may merge within 18 months, again,subject to certain criteria and Mr. Carver's discretion. The shareholders of Carver Corporation would retain a 20% ownership interest in the combine identity following such a merger. The terms of the operating agreement and granting of ownership interest to Mr. Carver are subject to shareholder approval, and shall be presented in a proxy package in advance of a shareholder meeting to be scheduled as soon as practicable in early 1999.In response to the execution of this operating agreement, Mr. Carver stated, ''I am very excited to have this opportunity to rebuild the Company I founded so long ago, and am confident that the independent dealers will be receptive to Carver Corporation's new products. Sunfire and Carver products serve distinct segments of the market, and should complement each other extremely well. The Board of Directors and I share a desire to maximize value for all shareholders, and believe that the opportunity presented in my business plan will evidence this upon receipt of the proxy package that will be distributed to them ''The Company also announced that its Chief Operating Officer, Fred Grund and one of its directors, James McCullough have resigned. Prior to Mr. Carver's arrival, the Company had previously announced certain other operating strategies, including distribution of products through the Internet, but was forced to seek alternatives due in principal to a lack of operating capital and a lack of new products and technologies. Bob Carver recently introduced a number of new Carver-branded products including a 200 watt per channel five channel Dolby Digital/DTS receiver, a high pressure, high back-emf subwoofer for home theater, a 300 watt miniature (the size of a pack of cigarettes) amplifier for automobile subwoofers and two companion subwoofers. These were shown at the Consumer Electronics Show that was held in Las Vegas, Nevada earlier this month. Each of the products contains new technology; an exception is the receiver, and it stands alone in the marketplace as the most powerful five channel receiver there is.
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