John,
Forget the press release. It's half a puff piece anyway.
RF Concepts purchased Ten-Tec. They then merged the two business units
(Ten-Tec and Alpha) into one, from a corporate standpoint, and are in the
process of integrating them.
The important thing is that the company & brand will survive, and with any
luck, thrive.
In any event, I spoke to several people at both the Ten-Tec and Alpha exhibits
at Dayton, as well as several former Ten-Tec staff members. The WORST I can
say is that they are all cautiously optimistic, and quite a few are excited at
the possibilities.
This is not the same thing as a bank merger, where the federal government, or
an agency thereof, forced an insolvent or failing bank into an unwanted
purchase by another, more successful bank, with the usual integration headaches.
The reality is that of the two presumed main shareholders of this private
corporation, ie the two founders, one has been a Silent Key for some time now,
and the other had retired. So, the company is now in the hands of someone with
the interest, energy, and money to keep the company going. What's the
alternative, after all? That Ten-Tec continued with indifferent ownership, and
eventually ended up in the hands of people who didn't care? Or worse, in the
hands of a third party that accumulates fine companies and turns them into more
outlets for fine junk?
Oh, and I was told that because the combination of the two firms happened so
quickly and so soon before Hamvention, it was not possible to combine the two
exhibit spaces on short notice. So, not to worry on that score, either.
I'm more impressed that of all the manufacturers present, someone chose Ten-Tec
& Alpha equipment at the heart of the W100AW/8 Special Event Station. And from
what I saw, quite a few of the people operating the station, or watching them
operate, were equally impressed -- or more. Now that's publicity & good will
you can't buy!
73, ron w3wn
On 05/19/14, John Rippey wrote:
In my working life, long since past, I was a spectator at dozens of
mergers of banks and bank holding companies, all of which in the first
instance were accompanied by boiler-plate promises of how beneficial
the mergers would be. Not all were. The Wells Fargo-First Interstate
merger is one that comes to mind that created huge problems for Wells
before management got it all sorted out.
The opening sentence of the RF Concepts press release is not typical
of merger announcements, nor is the absence of any quote from the
Ten-Tec side typical. Usually both sides engage in glowing
self-congratulation.
The date of May 9 on the release is a puzzler. If the merger was
imminent, and details had been settled, why not schedule a presser at
Dayton, with both CEOs in attendance, thereby gaining maximum exposure
in the ham community? Judging by the information in the press release,
attendees were supposed to visit the two companies' stalls to find out
more. Not exactly an optimal way to spread the word. And why were the
stalls not combined?
Seedman is identified as chairman of RF Concepts. Is he also president
and CEO of the combined entities? Many questions, few answers. Sorry,
but as a Ten-Tec owner, it is hard for me to be optimistic about this
development.
73,
John, W3ULS
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