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#31
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Re: Avid seeking feedback on closure of Sibelius UK office
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Cash and receivables/payables actually seem to be within normal fluctuations. The cashflow caveat is a standard "Risks & Exposure" type disclosure. Avid is not threatened with "going under". The risk is they will not be able to continue to develop Pro Tools effectively or profitably. They could completely stop development of Pro Tools and focus on Media Composer and still remain a viable, though inefficient, company. That scenario is remote in possibility, though. More likely is they sell their assets to a bigger player split up to private players. The sales of M-Audio were not included in inject cash; they were to cut costs and likely trimmed to aid in a sale of the core assets of Avid. The sale of M-Audio is going to result in both a cash and accounting hit to the balance sheet and income statement in the short-term. Costs with the RIF (reduction-in-force) include severances, mandatory Cobra, outbound employment counseling. A RIF is almost always a short-term hit for long-term gain. The question/concern is who is going to purchase or manage Pro Tools/Sibelius going forward? Who purchases the assets? Is the current roadmap maintained, or do they go in a completely different direction? Will HDX be abandoned before it is adopted? That's the worry.
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#32
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Re: Avid seeking feedback on closure of Sibelius UK office
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There is also the unparalleled support that Daniel and his team have given over many years. It is a standing joke that he works 24/7, any day of the year. That has created something that cannot be expressed in dollars or cents: trust in him and his team, and an excessive user loyalty. That trust sadly is close to zero when it comes to Avid and the way they treated this whole thing. Whoever made this decsion at Avid does not appreciate this and believes that a group of audio programmers can take over those roles. In Avid's latest statement: http://community.avid.com/blogs/avid...-sibelius.aspx they announced to intend to integrate Sibelius development with their 'audio group'. That is a bit the crux here: Avid believes that the heart of the product is audio production. Well, it is not. It is about notation, first and foremost. I am one of the few people that use Sibelius in combination with expensive high end virtual instruments plugins; I'd *like* for the midi features to be improved, and I'd *like* to have it more integrated with protools and have audio editing features as well, but first and foremost the notation part of the program has to be rock solid. It is really very sad and it does not help anyone; it is just destruction. This morning Avid's stock was even lower, below $7, and the prediction I got from StockWatch was "strong Downtrend". I don't want Avid to go down under, being a PT user myself and having just invested $$$ in the complete production toolkit for surround mixing; I am thinking of getting media composer just to be able to wrap my head around the integration with PT. They have a lot of very cool products. But this present move is brainless. |
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