[sac-forum] Re: Meade Closing production in Californa

IMHO, this announcement by Meade, made for the benefit of stock analysts on Wall Street, is not big "newzzz", nor any cause for alarm (unless you work in Irvine, California, of course....) Rather, it is the same "globilization" and "cost-cutting" strategies announced by many large firms over the past several years. Many of Meade's products are already marked, "Made in China". The retired founder and former CEO of Meade, John C. Diebel, started the business in 1972 in his California apartment, importing foreign-made telescope items. He later married the daughter of the foreign manufacturing company that produced his goods. Celestron is already partly owned by Synta, a Chinese optics production firm. Most eyepieces and other accessories are produced overseas.
I'm surprised this change had not already taken place some time previously.... 

Gene Lucas
(17250)

stars1@xxxxxxxxxxx wrote:


Meade's in some trouble.
This is a link to a 34 minute conference call describing all this from Meade. http://tinyurl.com/3ygps8
"On October 11, 2007, we announced a restructuring plan that would significantly reduce our cost structure by moving our California- based manufacturing operations to a lower-cost location. In addition, we announced that the Board of Director's has formed a special committee and will engage an investment bank to assist the Company in exploring strategic alternatives. Such alternatives may involve a financial restructuring of the Company's capital structure or potentially the sale of all or a portion of the Company. At this time there can be no assurance that the Company will be able to execute on any strategic alternatives" 


Thomas Hilton

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