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Horizon Hobby sold!

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Horizon Hobby sold!

Old 12-10-2013, 09:25 PM
  #26  
vipul
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How much do you think they were sold for? I wonder what their yearly revenues and profits are?
Old 12-10-2013, 11:40 PM
  #27  
JL636
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"Things won't change", exactly what the person who bought the company I used to work at said. Like a bunch of lambs being lead to slaughter we believed him and his "new" partner. Too majke a long story short, life there after his takeover was complete hell, he made it very clear that he placed no value on his employees if they did not meet his personal wims (cleaning decoys with toothbrushes). I was let go after 26yrs for no other apparent reason other than "we're going in a different direction", where do I find work while I'm in my 60's. The company that lead the industry with top notch customer care suddenly stopped and would dispute claims in a heartbeat. I'm sorry, but investment companies track records do not bode well. Turn a profit which they feel is ok, but the instant it slumps or things slow, its sell, split or divide and sell. I only hope and pray Horizon doesn't go this above mentioned route, but only time will tell. I'm sorry for this rant here, but I get up every single day remembering the day three bosses walked me out the door. RC is the only thing that kept me from losing my mind coupled with the support I received from my fellow club members. Am I gun shy about a company I've supported by buying planes, radios, etc.? You bet! Horizon PLEASE prove me wrong! "J"
Old 12-11-2013, 01:54 AM
  #28  
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Well let me predict the future of Horizon right now. Investment company means one thing and one thing only. Increase profits!!! I suspect that Horizon will price themselves right out of the market and ultimately go out of business if the "Investment" company's bean counters start running the company i.e "micro-managing". The first thing to go will be customer support for outdated designs, then product development will take a hit because it costs money for research. Then current products will become more expensive for us and then ultimately we will shop someplace else due to no support and price.

Any one else agree?

Glenn
Old 12-11-2013, 02:43 AM
  #29  
Lifer
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Might explain all of the "out of stock" issues and why there are no new offerings for the seasonal sales. Hope all works out for the employees.
Old 12-11-2013, 03:59 AM
  #30  
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Which team members left, where did they go ? Experienced RC pilots of Somenizi's caliber, could be used in RPV and Drone manufacturing. Representing a company just flying RC in contests, can be put to good use in the private sector.

Years ago, 1970-1973, John Maloney sold World Engines to Consolidated Foods. Nothing changed, except the presence of bean counters in the mix. John could not stand working for someone else, and bought the company back. Later on in years, he sold the company for a measley million bucks to Hobbico. That was at least $5M short of target. The value was the OS and Super-Tigre distribution in the North American markets. Realize that John was sick, and probably relied on others.



Vince

Last edited by crankpin; 12-11-2013 at 04:12 AM.
Old 12-11-2013, 04:57 AM
  #31  
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It's the way of the world fellas... It's only about the dollar. It drives everything... Sad the way everything has become... They will dress that pig up and sell it to someone else......
Old 12-11-2013, 05:02 AM
  #32  
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Oh Great! Isn't this same guy that posted about "record losses" and needing "price increases" in the hobby industry in another thread? …maybe I have the wrong guy!

Rex
Old 12-11-2013, 05:06 AM
  #33  
thetireman1
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What guy are you referring to?
Old 12-11-2013, 05:07 AM
  #34  
rbxbear44
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Dave Wilshire…on the "Boring ?" thread here in Jets..

Quote from him...
"People are not building as much...new sales are at an all time low. Established models still sell, but doing a build on an existing design makes little sense.
The real reason the forum is down on posts is the hobby is in free fall, certainly in England. The Internet has much to do with our countries mess, business reducing, prices and hence margins below a break even figure. Everyone thinks things should cost less, that's not possible, our hobby is the cheapest its ever been, if you want it to get better, people need to get real and accept prices increasing.If you don't there will be a tiny choice of product, which will suit the keyboard flyer who started this…"
Old 12-11-2013, 05:08 AM
  #35  
Luchnia
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Typical BS as usual. I have been through two recent buyouts within three years and "things won't change" is total BS. Most buyouts are about change or why would you have a buyout?

Many read the writing on the wall and jump ship, some cling to the vine, some hope and pray they can remain in the group watching the dangling carrot and get the occasional nibble, while others remain victims of ignorance are are kicked to the curb. That pretty much sums up corporate business in today's world.
Old 12-11-2013, 05:08 AM
  #36  
thetireman1
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Oh yeah... always someone it seems that can solve the worlds problems...
Old 12-11-2013, 05:11 AM
  #37  
rbxbear44
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I am thinking Dave Wilshire just posted what came from the Horizon site…at first I thought he was a part of the buyer team for it, the way it was written.
Old 12-11-2013, 05:25 AM
  #38  
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You might want to speak with George Zimmerman.
Old 12-11-2013, 06:16 AM
  #39  
Chris Smith
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"You can keep your radio if you like it. You can keep your current Horizon Rep if you like him". "Oh, and your costs will go down roughly $2500 per year".
Old 12-11-2013, 06:32 AM
  #40  
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Originally Posted by Chris Smith
"You can keep your radio if you like it. You can keep your current Horizon Rep if you like him". "Oh, and your costs will go down roughly $2500 per year".
That made me pee myself just a little
Old 12-11-2013, 06:33 AM
  #41  
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Originally Posted by rbxbear44
Dave Wilshire…on the "Boring ?" thread here in Jets..

Quote from him...
"People are not building as much...new sales are at an all time low. Established models still sell, but doing a build on an existing design makes little sense.
The real reason the forum is down on posts is the hobby is in free fall, certainly in England. The Internet has much to do with our countries mess, business reducing, prices and hence margins below a break even figure. Everyone thinks things should cost less, that's not possible, our hobby is the cheapest its ever been, if you want it to get better, people need to get real and accept prices increasing.If you don't there will be a tiny choice of product, which will suit the keyboard flyer who started this…"
In a way he is correct. As costs go up due to salary increase, tax increase, cost of regulation, etc, prices must increase. But I would rather pay higher prices to keep the same level of support from a privately held company owned by an enthusiast than pay the same price for lower support which ultimately leads to the things mentioned above - no product development, followed by increased prices for the same thing, just to line the pockets of "investors".
Didn't the movie "Other People's Money" teach anybody anything?
Old 12-11-2013, 06:35 AM
  #42  
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LMAO! At least HH website works.
Old 12-11-2013, 06:42 AM
  #43  
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Like the movie wall street. Crack 'em open, shake out the good parts, take their money and run. I have been a Horizon customer for many years, but don't buy much anymore because I am topped out. My biggest complaint with Horizon is the web site. It is so undeveloped for giving detail and specs on anything.
Old 12-11-2013, 06:52 AM
  #44  
CARS II
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Well the way I see it is an opportunity to start a new company to replace Horizon, as this one will be going out the door soon.

Take over when they fall down.
Old 12-11-2013, 06:58 AM
  #45  
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I do not have high expectations for this move being in my favor. With the success of off shore and warehouse only operations of HobbyKing styles enterprises, the existing competitors will have to either close or learn to cut the corners necessary to compete in the world market. This is not going to happen without many individuals suffering.

I see the closing of help functions and tightening of return and exchange policies. It has to happen.
Old 12-11-2013, 07:28 AM
  #46  
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Originally Posted by willig10
Well let me predict the future of Horizon right now. Investment company means one thing and one thing only. Increase profits!!! I suspect that Horizon will price themselves right out of the market and ultimately go out of business if the "Investment" company's bean counters start running the company i.e "micro-managing". The first thing to go will be customer support for outdated designs, then product development will take a hit because it costs money for research. Then current products will become more expensive for us and then ultimately we will shop someplace else due to no support and price.

Any one else agree?

Glenn
Yes, I do...to the point!

JQ
Old 12-11-2013, 09:52 AM
  #47  
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They saw how much it was going to cost them to provide birth control and maternity leave to all the 50 and over employee's and figured it was time to get while the gettin is good.
Old 12-11-2013, 10:06 AM
  #48  
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I worked for a communication company back in the 80s' and 90s', our company got sold to IBM. The ceo of IBM said, "nothing will change,your employment is sound with us. Whatever your plans were before, you can continue as if nothing happened." Well, it was good for 1-1/2 years, then they started by changing our benefit package to match theirs. Then, a year later they sold our division to Siemens Corp., and we were told, "Our business plan does not include so many people. If you are offered a buyout, take it. Or, you can be let go at any time. After they got done slicing and dicing, the people that took buyouts (I was one of them) found other employment as contractors for our previous customers. The rest just went elsewhere. I can see what will happen here in a couple of years....
Old 12-11-2013, 10:09 AM
  #49  
byrne1157
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Originally Posted by Chris Smith
"You can keep your radio if you like it. You can keep your current Horizon Rep if you like him". "Oh, and your costs will go down roughly $2500 per year".
I seem to remember hearing that recently....
Old 12-11-2013, 10:46 AM
  #50  
Dave Wilshere
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I did post about how bad things were, I understand now that HH in the UK are making big losses. We all are, business costs in England would leave you guys cold, I pay my local council $1500 a month "tax" for having my business in their area, the business is on a private road, so even the street lights are paid for by me, I clean the road outside my building...

I loved HH business policy in England, right until I realised they were "propping up" many of my competitors who sold at stupid low prices and clearly didn't make enough money to survive...and pay the bills. They could sell incredibly cheap...cause they were not paying their bills.

My company originated way back as World Engines...my father imported Radio from John and Super Tigre for 45 years, then Hobbico bought ST....and that was that! John Maloney gave me my first ever aeroplane (Graupner Dandy) in 1968. I started Motors & Rotors in 1994 and for a few years things were great and I was able to prop up my fathers business...then the internet got going and that was the beginning of the end in my mind. I now wait for the next phase when all the big give away 'dreamers' go pop. All things are not equal in business, especially in England.

Who knows what this buy out will do to HH, in England it can only focus a change, which is needed.

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