Bach Strike: Real Marketplace Facts by Newt B. Doebel/Market Place News
The facts and only the facts, forget the propaganda that Conn-Selmer Corp. are posting here. The Bach reputation was built long before Dana Messina ever came along, the employees made Bach what it is today, not Dana Messina like he thinks! The Bach plant/line has the highest quality reputation in the music industry and sets the pace and price for those horn lines by all competitors. The Bach lines deep rooted asset is their skilled workforce which on average (230 employees) has a total combined 4,700 years of experience at crafting/building of these fine instruments that lead the market place. The savvy pro musicians and pro horn buyers as well as dealers already understand this fact and they happen to be the marketplace. The new reputation for Dana Messina and Conn-Selmer with their replacement workers that have been there for 3 months, not 4,700 years mind you is of very low quality instruments/tolerance issues/performance problems/defects/cosmetic/finish problems of returned instruments that is producing a boom market for Bach’s competitors, this is just giving your competition your market share that you’ll never hold on to or get back!. In Corporate management you have to differentiate between delusional arrogance and the reality of the real world! Dana Messina thinks the Bach market will always be there even with workers that have only been there a few months which is contrary to what really takes place in the real world marketplace! To put it in laymen’s terms, the pilot on your air flight has massive/years of experience which is why an airline makes money and has a good reputaion for quality in the marketplace. In Messina’s world, your pilot would be a guy that just got done flipping hamburgers at Burger King! Even though this delusional arrogance makes sense to Steinway and Conn-Selmer, in the end in the marketplace, IT JUST WON’T FLY!
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Con-Selmer Hires Replacement Workers
Tuesday June 20, 10:23 am ET
Steinway Musical Unit Con-Selmer Hires Replacements for 230 Striking Workers in Elkhart, Ind.
WALTHAM, Mass. (AP) — Con-Selmer Inc., the brass instrument subsidiary of Steinway Musical Instruments Inc., on Tuesday began hiring workers to replace 230 employees on strike at its Vincent Bach plant in Elkhart, Ind.
The employees have been on strike since their contract expired on April 1.
Con-Selmer President John Stoner said the company is also ramping up production at it Eastlake facility, as well as at suppliers overseas, to meet demands for the company’s trumpets and trombones.
Steinway Chief Executive Dana Messina said the company remains “healthy and prosperous” despite the slowdown incurred by the strike. Sales are also “marginally lower” in the quarter to date, she said.
Shares of Steinway fell 4 cents to $24.60 in morning trading on the New York Stock Exchange.
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THE GLOBAL 225
The 2000 Sales Ranking Of
The World Largest Top 225 Manufacturers
The Global 225 report, the first-ever sales ranking of the world’s largest music and sound manufacturers and distributors is an effort to help manufacturers and retailer to better understand the dynamics of the international industry. The rankings contain a number of names familiar to anyone in the U.S like Yamaha, Samick and Hohner; however, some of the less familiar names also play important roles in the U.S. market and other parts of the world. All these companies and many more are included in this Global 225 report.
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How large is the world’s music market? Which countries produce the most? How many people are employed, by country, in the music market? These are just a few of the questions answered in this invaluable report.
Here is a sample of data you will find on more than 225 music manufacturers from around the world:
2005 Sales Volume: $17.7 Billion
Number of Employees: 116,490
Top Producing Countries
(Sales Volume in Millions)
Japan $8,143
United States $5,454
Germany $376
United Kingdom $332
Taiwan $257
Hong Kong $235
Austria $165
France $159
Italy $137
China $131
Australia $82
Company 2005 Sales Employees C.E.O Country
Yamaha Corporation $4,973,266,000 18,574 Shuji Ito Japan
Roland Corporation $656,064,000 2,233 Katsuyoshi Dan Japan
Kawai Musical $590,089,000 2,782 Hirotaka Kawai Japan
Harman Int. $475,000,000 3,100 Dr. Sidney Harman USA
Fender Music $380,000,000 2,400 William Mendello USA
Steinway $375,034,000 2,283 Dana Messina USA
Shure Inc. $325,000,000 2,000 Sandy LaMantia Korea
Telex Audio $275,000,000 1,250 Raymond V. Malpocher USA
KHS/Musix Co., Ltd. $269,763,480 4,000 Wu Hsieh Taiwan
Contact Information/Address
Steinway Musical Instruments, Inc.
800 South Street
Suite 305
Waltham, MA 02453
Phone 781-894-9770
Fax 781-894-9803
IR Contact
Julie A. Theriault
Director, Corporate Planning & Communications
Phone 781-894-9770
E-mail ir@steinwaymusical.com
Home page www.steinwaymusical.com
Corporate Governance
Kyle R. Kirkland
Chairman of the Board
Dana D. Messina
President and Chief Executive Officer
Thomas T. Burzycki
Executive Vice President
Bruce A. Stevens
Executive Vice President
Michael R. Vickrey
Executive Vice President
Dennis M. Hanson
Sr. Executive Vice President, Chief Financial Officer and General Counsel
Thomas Kurrer Managing Director - Steinway Germany
Directors
Kyle R. Kirkland Chairman, Steinway Musical Instruments, Inc.
Dana D. Messina President and Chief Executive Officer, Steinway Musical Instruments, Inc.
Thomas T. Burzycki President and Chief Executive Officer, The Selmer Company, Inc.
Bruce A. Stevens President and Chief Executive Officer, The Steinway Piano Company, Inc.
Peter McMillan Managing Partner, Willow Brook Capital Group, LLC
A. Clinton Allen Chairman and Chief Executive Officer, A.C. Allen and Company
Rudolph K. Kluiber
Shareholder Information
Exchange
New York Stock Exchange (.N)
Stock Quote (LVB)
30.09
As of 11/9/06 4:00 PM
Minimum 20 minutes delayed
How to Invest in Steinway Musical Instruments
Listed Security
LVB Common Stock
Transfer Agent
Continental Stock Transfer & Trust Company
17 Battery Place
New York, NY 10004
Phone (212) 509-4000
Corporate Counsel
Milbank, Tweed, Hadley & McCloy
601 S. Figueroa Street
30th Floor
Los Angeles, CA 90017
Phone (213) 892-4000
Fax (213) 629-5063
