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Equipment Discussions >> Cats & Casses

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Chaz659
sage


Reged: 12/08/12

Loc: Islip, NY
Re: The plot thickens (Meade takeover) [Re: cn register 5]
      #5950023 - 07/01/13 04:47 PM

Wow, this thread has certainly taken some twists and turns...lol.

As someone fairly new to this hobby, after a 35 year hiatus, let me say this on two points. When I first began looking into rejoining the ranks, I got online and did a little research. I posted questions here and elsewhere and to my utter amazement, within a day, more than 100 people observed my post and many, many offered support and suggestions. And many posts attract and receive so much more attention than that one. Posts with hundreds of views, certainly not all individual, but icredible activity. I was shocked and gratefully amazed at what appeared to me like the discovery of some secret society. I may not have known you guys were there before but it didn't take long to realize there were alot of people with this same interest.

Soon I went to my first club meeting. I was by far not the youngest AND far from the oldest, but it was a wonderful diversity in every sense of the word. Our first trip to a planetarium for a viewing session there were a dozen scopes there, young couples, single folks from 30 to their 70's, men, women, and kids all checking each others scopes. There were people happy with their Meades, happy with their AD10s, and people happy with their Celestrons.

But, as someone new I gotta say, there is now so much info readily available, and the scopes so easy to use, I think there is a HUGE continegent of people involved who simply never get involved with these clubs. The technology has made it easier to be a solitary hobbyist almost from the get go, without the need to join a club or go to a Star Party to learn. Good, bad, or indifferent, I think that plays into the belief that there are so many less people in this hobby. Heck, since buying mine, I found out two people I have known for years had scopes of their own. Neither belong to club or have attended Star Parties.

I do not know enough about the products, the manufacturers and/or vendors, and less about their histories to pass judgement of any kind. BUT from the very beginning, when I was not sure which product I was going to buy, I DID notice one thing. There always seems to more people selling there Meade scopes and equipment in the Catadioptric section of the classifieds than any other brand. In my mind I thought, "Why are so many people so willing to part with this brand, than the others?" If you look there now, it lists mostly Meade stuff for sale, with a few exceptions, and people looking for Celestron stuff. To me that's NOT Meade bashing, but it said a lot to me as someone coming back to this hobby.


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EFT
Vendor - Deep Space Products
*****

Reged: 05/07/07

Loc: Phoenix, AZ
Re: The plot thickens (Meade takeover) [Re: amicus sidera]
      #5950034 - 07/01/13 05:01 PM

Quote:

Quote:

The two rock solid, stable, interfaces are RS232 and Ethernet TCP/IP. Staying with these makes a lot of sense.




Two interfaces that are even more stable than these are eye on chart and hand on telescope ; however, I can't see the majority, or even a modest minority ever going back to that. The next big thing will almost certainly be wireless interfaces... if Meade could come up with a non-buggy system for that (and patent it), they'd be sitting mighty pretty.

Fred




They won't be able to patent it as it is already out there. There are already mount systems available that use Ethernet, Wifi, Bluetooth and USB. Serial is very robust and simple but the others are easily available so the question is really why the mass manufacturers don't use them. The answer, cost (even though it is relatively low). The cost of these different systems on high end equipment is a relatively small portion of the overall cost but on low end systems it becomes a much higher percentage of the cost. The reality is that nothing about these other communications systems would have helped Meade, even if they were able to implement them successfully.


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Jon Isaacs
Postmaster
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Reged: 06/16/04

Loc: San Diego and Boulevard, CA
Re: The plot thickens (Meade takeover) [Re: McUH]
      #5950056 - 07/01/13 05:29 PM

Quote:

Lets see eyepieces - Meade 5000 SWA's are sold for 220 eur or more in Europe. No doubt they are high quality eyepieces, but this price is far from reality, you can get comparable or even better for much less.





I am not familiar with the European market but in my mind, the Meade Series 5000 SWAs demonstrate some of the problems at Meade. I have the 16mm and the 24mm versions.

Optically they were quite good eyepieces for the money, I am not sure of any that are comparable at a comparable price point. Ergonomically, they were a disaster... That oversized twist-up eyecup resulted in a heavy eyepiece that was not comfortable, this is particularly true in the longer focal lengths.

Somebody at Meade needed to do more than just spec an eyepiece with a twist up eye cup, somebody needed to recognize that a 40mm eyepiece with a 3 inch plus diameter twist up eyecup is probably not a good design.

Jon


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Aquatone
sage


Reged: 03/23/06

Loc: California Bay Area
Re: The plot thickens (Meade takeover) [Re: Jon Isaacs]
      #5950162 - 07/01/13 06:47 PM

I personally credit Meade with attempting to be innovative and even disruptive with their Starlock and associated technologies in trying to make complex imaging procedures more accessible. As a Product Manager I can see what Meade is trying to do, but in my book their actual execution violates some pretty fundamental principles of product management, both from a product and technical marketing perspective.

(1) Building and marketing brand new products is often the "easier" part. The less exciting part is building a sustainable process to maintain those products in market through a support infrastructure tooled up in advance to be immediately responsive to customer issues over multiple-years, especially as it has to be budgeted for in advance and Meade may not be able to afford to.

(2) Poor alpha/beta testing processes. I assume/hope that Meade has internal product specialists and/or end-user advocates who design functional requirements with their engineers? I have heard of selected external users who are given early access to beta test products but how are they chosen? Because they say nice things about Meade in marketing copy? At the least, Meade's whole QE process does not appear that rigorous and it amazes me that so many problems escape to the detriment of the companies reputation. I suspect again because they cannot afford it or for some reason they choose not to invest in this area.

(3) Consistent over-marketing. Just one example is the whole Ritchey Chretien / ACF debacle a few years ago, and in general too often over-promising and under-delivering. Meade markets themselves as the 800 pound gorilla of amateur astronomy when they are really a small company of limited resources and IP value in a just as small market.

None of this is easy. I have myself dealt with similar issues in delivering sophisticated visual/graphics products to quarterly deadlines, and that is with significant resources. (There are never enough!) For a public company such as Meade in a shaky state and with shareholder commitments it is much harder. Ultimately it is down to the quality and discipline of product and development management to choose priorities wisely and deliver stable products to market. I suspect that there are some pretty motivated yet demoralized engineers at Meade right now, who with better product direction and processes could excel. I hope they get that chance.

Chris


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Spacetravelerx
Carpal Tunnel


Reged: 12/23/12

Loc: New Mexico
Re: The plot thickens (Meade takeover) [Re: Jon Isaacs]
      #5950206 - 07/01/13 07:23 PM

Wow, so much to respond to here. Even worse when on travel and massively working and just watching all the comments on a hot topic build!

So, here are my quick bullet points:

* The youth are fine, but times are simply different. I have worked with many as a Professor and Lecturer at Hope College and the University of Michigan. All are bright and imaginative. I work with many universities across the country right now on several projects. The next generation is fine. BUT times - and technology - are completely different.

* A comment has been made about the plummet in sales for Meade. I will address this in a moment, but I feel their technology is cutting edge and up to date. The problem has been management, marketing and sales plain and simple. Lawsuits were killer. Going public? Costly for many reasons.

* Meade has great technology, however it seems to me most of the shops are pushing Celestron. If your dealers are not behind you, you are in trouble. I purchased Meade in spite of the dealers trying to turn me elsewhere.

* I still believe CN is a negative forum for Meade. In this day and age that does not help. Bad word gets out about Meade and the well is poisoned. It is interesting the problems I see with Celestron, but since it is the favored child right now people look past its sins. A strong positive social network helps. There are excellent resources for the ETX and LX200, and Meade has their message board and a start on Facebook. Still, they have a long ways to go.

* Everyone on CN is saying "don't buy Meade, don't buy Meade!" " Wait for the sale of the company". Well guess what? Sales are plummeting and inventory sky rockets. We as a community are adding to the death spiral. I for one will purchase Meade still (great products, why not!). But I can't buy everything.

* Another thing hurting Meade is they need a lighter weight GEM. Right now all the rage is GEM, GEM, GEM. Personally, for Visual, basic AP, and video I prefer an SCT on a Fork vs. GEM (and I prefer the Fork with a wedge over alt-az any day). GEM has its place for certain, but it does not cure world hunger.

* If the LX80 came out of the gate successfully we would not be having this discussion. The concept of the LX80 is spot on as is the price point. Many people do seem happy with the LX80, BUT with a fair number of early problems and high expectations - and the issues vocalized on CN, the well was poisoned. Meade is to blame for certain; CN accelerated the news.

* If the LX800 came out successfully we would also not be having this discussion. The LX850 was the system that should have been released out the gate.

* They need product evangelists. I was one for Apple - trust me, it does help sales. And Meade does have an excellent product line. I could easily market Meade products. Why don't I? Wages in this area are likely a "tad" lower than what I earn. FYI -near as I can tell, this seems true across the board for this hobby. I highly doubt software engineers at Meade, Celestron, et. al. are making six figure salaries. Still, I would not mind helping out a bit in my free time.

* I 1000% disagree with comment about the eyepieces. I find the images I have viewed through the Series 5000 UWA and HD-60 eyepieces very good (I really love my 24 and 30mm UWA!) and wonderful to look through and the price is highly competitive. AND I LOVE the twist up rubber eye guard! Guests and others who have used them love it too. I think the idea is ingenious! DON'T GET RID OF THE TWIST EYECUPS MEADE!

* The Coronados are selling well. Yes, Lunt is a strong competitor, but Meade holds its own very well here. Side story - In April, for a Sun viewing event I brought my PST (this is an addictive unit FYI). A similar sized Lunt was also there as was the basic solar filter for a C8. C8 had some viewers. Lunt? They had problems (who knows why). PST - many "OH MY GOD" comments. Needless to say, I had the long line and repeat customers. I am sure Lunt's are fine systems, but folks do purchase and use Coronados. I love the idea of including the PST with the purchase of maybe an LX200, LX600 or LX850 (maybe LX90?).

* Meade does not need to invent a wifi package in the short term - SkyFi and SkySafari work VERY well with ALL Meade systems. It would be nice to see an internal wifi hub in future Meade systems though. And I don't want blue tooth. Lame.

* The LS, LX600 and LX850 are very close to turnkey systems out of box for each class of system. Personally I find the LX850 well ahead of the Celestron 1400.

* Light weight is kinda of nice, but I see problems with vibrations and it smacks of being cheap and flimsy in my book. Give me a heavy, rock solid telescope any day. Yes, my 10" LX200 is heavy and solid. Fine by me! Now, I am fine with high end light weight carbon fiber structures and such, but I prefer heavier vs. lighter for much of my work. Now, on my road trips, car camping, etc I will go ultra light (I might take my ETX 125 with the 80mm ED APO), however I know things will not be as steady. FYI, I am looking at using the iOptron ZEQ25 with the 80mm ED APO. It would be nice to see Meade have something like this, in this price range.

* StarSense? Nice, but Meade has had this capability with the LS series. I guess the difference here is the StarSense is an add on for many of Celestron's systems where Meade's solution is integrated. For the average, basic hobbyist the latter is the way to go. Unfortunately dealers only push Celestron it seems.

* I repeat - dealer relations, networking, social media and a good product and customer service are keys to success today. Not everything, but it helps!

* Astronomy clubs - some are fun. Many are poorly organized. Some I find I quite arrogant and snooty.

* Lots of used Meade's for sale? Yes there are because Meade commanded a bigger chunk of the market in the past - ergo more used systems for sale.

* Life cycle for telescopes? This might be a problem in our field. Like I said before - I have owned 2 telescopes in the past 23 years and both are going strong. I saw no need to buy another until this year. Great on quality and longevity (great job Meade!), but horrible for Meade sales.

Well enough of catching up! I think I covered the bases!


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rmollise
Postmaster
*****

Reged: 07/06/07

Re: The plot thickens (Meade takeover) [Re: Spacetravelerx]
      #5950211 - 07/01/13 07:26 PM

Good post Andrew.

I do have a couple of comments. I think it is a bad idea to suggest people purchase from a company that's on the rocks to the extent Meade is right now. Not having any sales for a few months isn't going to make things worse for them at this juncture--they have gone too far for a slight uptick in sales to do pea-turkey--but buying from them now may leave you high and dry in a worst case scenario. Give it a while for the dust to clear is my advice...hate to say that...but...

For me Celestron has always been "Apple," while Meade was "Windows."

Edited by rmollise (07/01/13 07:27 PM)


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herrointment
Post Laureate
*****

Reged: 03/12/11

Loc: North of Hwy. 64
Re: The plot thickens (Meade takeover) [Re: Aquatone]
      #5950215 - 07/01/13 07:27 PM

The thread has been an eye-opener for me, a laborer with no real business knowledge or interest for that matter. Thanks for all the interesting posts.

This is what I have gathered so far.....the only winners in this mess are the lawyers.


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EFT
Vendor - Deep Space Products
*****

Reged: 05/07/07

Loc: Phoenix, AZ
Re: The plot thickens (Meade takeover) [Re: herrointment]
      #5950252 - 07/01/13 07:45 PM

Quote:

The thread has been an eye-opener for me, a laborer with no real business knowledge or interest for that matter. Thanks for all the interesting posts.

This is what I have gathered so far.....the only winners in this mess are the lawyers.




When it comes to a mess, the lawyers are always the only winners.


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Spacetravelerx
Carpal Tunnel


Reged: 12/23/12

Loc: New Mexico
Re: The plot thickens (Meade takeover) [Re: rmollise]
      #5950260 - 07/01/13 07:49 PM

Quote:

Good post Andrew.

I do have a couple of comments. I think it is a bad idea to suggest people purchase from a company that's on the rocks to the extent Meade is right now. Not having any sales for a few months isn't going to make things worse for them at this juncture--they have gone too far for a slight uptick in sales to do pea-turkey--but buying from them now may leave you high and dry in a worst case scenario. Give it a while for the dust to clear is my advice...hate to say that...but...

For me Celestron has always been "Apple," while Meade was "Windows."





lol - now you stirred me up, especially knowing I am a Mac guy


My "olden'" days analogy was Celestron (C8 was king!) was Windows, and Meade (LX200 like the iMac/iPhone/iPad) was Apple. NOW, if Apple is not too careful it could be like Meade down the road.

I see Celestron/Synta as Google - all encompassing.

Oh the humanity!

Yes, there is always the risk being left high and dry. Certainly if Meade died, I will be left servicing my LX850 on my own. Some of the equipment though would be safe purchases, for the nervous folks.

Question - when Celestron was suffering, did folks give up the ghost on them for a stretch? What was their recovery time?


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EFT
Vendor - Deep Space Products
*****

Reged: 05/07/07

Loc: Phoenix, AZ
Re: The plot thickens (Meade takeover) [Re: Spacetravelerx]
      #5950294 - 07/01/13 08:12 PM

The youth of today are just fine. A bit self-absorbed maybe, but so have most youth been throughout history.

I disagree with the continued suggestion that CN is a pro-one manufacturer and anit-another manufacturer forum. Right now it may seem that way but only because one manufacturer currently has mostly tested, fixed and proven products out whereas the other as of late has had mostly new, troubled (or failed) and only some fixed, products out. Ignoring Meade's imminent demise, this situation could flip around here and on may other forums at any moment. This forum may seem more positive on one brand over another at any given time, but it is not because of the forum and its users, it is because of the companies and their products. Someone who has been on the forum for 6 months cannot truly characterize it as pro or anti in any meaningful way. That is simply not enough time. I work on many products from different companies and know mostly what I have seen personally from inside the equipment and working with owners. It wasn't too long ago that Celestron was getting the tar beat out of it and no one was saying anything about Meade because Meade was not putting out any new products to speak of and was instead relying on tested and proven products. This type of thing goes back and forth unless or until one of the players fails and it can change at any time.

You can't run a company in the red forever and that's what Meade has been doing for years. That's what I was told a few years ago when I was approached to become a dealer and was told that new mounts were in the near future that would be great to be in on the ground floor for. If you find that dealers are unhappy with Meade and pushing other manufacturers, it may very well be that they ended up being pretty unhappy when the LX80 and LX800 came back to bite them soon after the sales. Returns loose dealers money and for some it was probably fairly significant. Knowing the financial condition of Meade over the past decade or more, I doubt a successful launch of the LX80 or the LX800 would have saved them in the long run, but it certainly would not have hurt and might have helped them or at least kept them afloat a little longer.


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MikeBOKC
Post Laureate
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Reged: 05/10/10

Loc: Oklahoma City, OK
Re: The plot thickens (Meade takeover) [Re: EFT]
      #5950327 - 07/01/13 08:41 PM

Meade, Celestron, world peace and the price of tea in China aside . . . the one burning question I want to see answered by the estimable Mr. Mollise is . . . what precisely is pea-turkey? Does it taste a lot like chicken?

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WesC
Carpal Tunnel
*****

Reged: 02/06/13

Loc: La Crescenta, CA
Re: The plot thickens (Meade takeover) [Re: MikeBOKC]
      #5950344 - 07/01/13 08:55 PM

LOL!

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jgraham
Postmaster
*****

Reged: 12/02/04

Loc: Miami Valley Astronomical Soci...
Re: The plot thickens (Meade takeover) [Re: WesC]
      #5950396 - 07/01/13 09:37 PM

"For me Celestron has always been "Apple," while Meade was "Windows.""

Ookkaaayyyyy, odd and irrelevant associations have hit a new high/low. For what it is worth, one of the worst experiences in my life was being an Apple developer. You did things the Apple way or no way. I have never experienced a more creatively stiffling environment in my life.


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Namlak
member


Reged: 06/14/12

Loc: Northridge, CA
Re: The plot thickens (Meade takeover) [Re: jgraham]
      #5950437 - 07/01/13 10:03 PM

When people talk about "Meade" surviving, I'm reminded of the story of the lumberjack's axe - the handle's been replaced three times and the head twice but somehow it's the "same axe".

Or put another way, I know people here in L.A. who are still "Rams fans", though the team hasn't been here for nearly two decades and there is virtually nothing common with the old organization but they're still "The Rams". Why would they have any connection to the current organization other than an emotional connection to the name?

Whatever results from Meade's predicament/sale/takeover will just be some optics company with an inventory of Meade stickers, sentiment be damned.

Regardless, I hope that whatever results is good competition for Celestron or that competition spawns from the vacuum.


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Jon Isaacs
Postmaster
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Reged: 06/16/04

Loc: San Diego and Boulevard, CA
Re: The plot thickens (Meade takeover) [Re: Chaz659]
      #5950469 - 07/01/13 10:19 PM

Quote:

There always seems to more people selling there Meade scopes and equipment in the Catadioptric section of the classifieds than any other brand.




- I suspect the reason is that until rather recently Meade was the "world's largest manufacturer" of telescopes.

- Making a comparison between Windows and Apple is difficult and fraught with differences in perception. Trying to project one's own particular perceptions of those two companies to other quite different situations, it's one big can of worms. Probably best to not go there because it's off-topic and a dead end.

Jon


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drakeSPR4
journeyman


Reged: 07/01/13

Re: The plot thickens (Meade takeover) [Re: Jon Isaacs]
      #5950535 - 07/01/13 11:06 PM

Meade Instruments SEC filings -

http://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=0001032067&...


MIT Capital's Mead Instruments bid information -

http://www.sec.gov/Archives/edgar/data/1032067/000114420413035936/v348004_ex9...

VictoryOne Inc. The Purchaser is a Delaware corporation and, to date, has engaged in no activities other than those incident to its formation and the commencement of the Offer. The Purchaser was formed and organized by the members of MIT Capital Inc. The principal office of the Purchaser is located at 97 E Brokaw Rd, Suite 210, San Jose CA 95112, and the Purchaser’s telephone number at such principal offices is 408-329-6148.

MIT Capital Inc. The Parent is a California corporation and has been formed and organized initially for investment purposes by Jason Tian. The principal office of the Purchaser is located at 97 E Brokaw Rd, Suite 210, San Jose CA 95112, and its telephone number at such principal offices is 408-329-6148. Currently MIT Capital Inc. includes the following board members:

Jason Tian is the Chairman and Chief Executive Officer of the Purchaser and the Parent. He currently also owns and operates several businesses selling, manufacturing, and distributing laser products, optics products, data logger, and other instruments. Mr. Tian started his own business in 2001 after receiving recognition and awards from Shanghai Science & Technology Bureau for young entrepreneurs. Mr. Tian is a MBA graduate from Cheung Kong Graduate School of Business. He double-majored and earned his B.S. in Engineering and B.A. in Accounting & Finance from Shanghai Jiaotong University in China.

Michael Zhong is a Director of the Parent. He has over 20 years’ experience in venture capital investment, strategic consulting, scientific research, business development and operation. Mr. Zhong was an investment professional with DFJ ePlanet Ventures with investment and portfolio management focuses on hi-tech, material science, and clean tech. Mr. Zhong represented ePlanet serving on the boards of four portfolio companies including Hisoft (NASDAQ: PACT now). Previously, Mr. Zhong worked at eBay, Interwoven (now HP ), Eastman Kodak in product development, marketing strategy, and as a Research Scientist, respectively. Mr. Zhong received his Ph.D. in Chemistry from Stanford University and an MBA from the Haas School of Business at University of California, Berkeley...

...Between June 1 and June 6, 2013, Advisor reviewed Meade's public filings of 10-k, DEFA14A, and PREM14A. Advisor observed that the Company is indeed facing working capital pressure. The Company had approximately $100,000 cash on its balance sheet as of April 30, 2013.

As disclosed in Mead's recent 10-K (Item 7. Management's Discussion and Analysis of Financial Condition and Results of Operations: Liquidity and Capital Resources), Mead is facing real working capital pressure and the Company may cease operation and file bankruptcy before executing the proposed transaction which has an "Outside date" three months away on September 15, 2013. Some excerpts from the Company's recent 10-k:

"Due to the Company’s declining revenues, recurring losses, limited liquidity and weakened financial position, the Company may not be able to operate long enough execute that planned transaction. "

"Due to the lower net sales levels the Company is encountering, the Company expects to incur substantial losses during the period through the close of the transaction."

"In addition, the Company has limited and decreasing working capital and is finding it increasingly difficult to operate normally. The Company’s net debt, which consists of the net balance owed on the Company’s credit facility less cash, was $92 thousand at February 28, 2013 compared to $371 thousand at April 30, 2013."

"If the Company is not able to obtain additional capital, it may be unable to execute the planned transaction and the Company may then have to file bankruptcy and cease operations."

Also disclosed in the Fairness Opinion, issued by Marshall & Stevens in connection with the proposed and recommended transaction, the Company may be facing a liquidity event before executing the Board recommended merger with JOC North America LLC via a long-form proxy merger. Two excerpts from the Fairness Opinion:

"Per Management, the Company's only available finance is an account receivable line of credit that is currently approximately $100,000 overdrawn."(as of April 30, 2013)

"M&S has been advised by management that it is unlikely the Company will be in a positive cash flow position in the near future, and accordingly is facing a liquidity event."


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EFT
Vendor - Deep Space Products
*****

Reged: 05/07/07

Loc: Phoenix, AZ
Re: The plot thickens (Meade takeover) [Re: drakeSPR4]
      #5950607 - 07/02/13 12:02 AM

Well that's a happy picture.

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Spacetravelerx
Carpal Tunnel


Reged: 12/23/12

Loc: New Mexico
Re: The plot thickens (Meade takeover) [Re: MikeBOKC]
      #5950609 - 07/02/13 12:05 AM

Quote:

Meade, Celestron, world peace and the price of tea in China aside . . . the one burning question I want to see answered by the estimable Mr. Mollise is . . . what precisely is pea-turkey? Does it taste a lot like chicken?




Isn't pea-turkey one of those Southern things like Okra, grits, and...?

EFT - I guess I could see the cycle thing on CN. However, like I said, in today's universe of the internet, news goes VERY fast. Not everyone obviously is on CN, but I venture to guess many of the most vocal ones and networked ones ARE on CN. And it is a relatively small community here. I notice if there is a problem with ANY NEW product and people get very vocal here, there does seem to be a response from the manufacturer. Even without a response from any manufacturer, product discussions can get painful. Refractor vs. SCT is a more esoteric debate. "My LX80 broke..." with a 100+ responses. Yeah, deadly...

Drake - yes, this is now old news. Question is, what is going on right now...

Namlak - Meade has more value than a name and stickers. Their optics I think are first rate. LX200 was a ground breaker and has evolved well. LX850 I think is great. Coronado, etc. Meade has some legitimate IP. Maybe the option is bankruptcy, wipe out the debt and get a clean slate on some great IP.

And for you LX850 doubters...I will FINALLY be back home in New Mexico in 2 days. This means I will try to do more "CN testing" to appease some of the doubters. I won't do all of them because, well, I want to have fun with it too! But I will try share my experiences as a newb with the "nearly" high end AP (hey, I only have a Canon 60Da), Video (I love this video thing) and testing out also the new Meade 80mm APO on the LX850 (that should look somewhat impressive since my bet is the LX850 is overkill for that). Hopefully, I can answer some questions that you folks have, and address this Meade/GEM thing. I will also try out this iOptron ZEQ25GT thingy. See how this Meade guy (me) does with it. It will also go on the road to California, Oregon, Washington, Utah and Colorado. So, if I am in your area lets get together for some bacon (no pea-turkey, sorry). Let's see how portable this set up is along side the ETX-125 (I still love this telescope). Maybe I should visit Meade and these investors...

Oh, and I will use the Meade 5000 eyepieces. I do love them. Test units of other models are always welcome of course...


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EddWen
Pooh-Bah


Reged: 04/26/08

Re: The plot thickens (Meade takeover) [Re: Spacetravelerx]
      #5950708 - 07/02/13 02:23 AM

Quote:



Drake - yes, this is now old news. Question is, what is going on right now...






Spacetravelerx, what is going on right now, assuming due-diligence has been done in a satisfactory manner, is that the principals are negotiating the terms of an acquisition in a detailed manner. This means things like employment contracts, continuation or termination of same. Settlement terms, transfers of funds and contingencies. Leases for facilities, on and on with a phalanx of lawyers representing all parties reviewing draft copies of the multiple documents that will be signed at closing. (I have a nice leather bound copy of a transaction that is about 3" thick). Some things that sound petty, like what order the documents are signed in are discussed by expensive lawyers.

The above is possibly going on now, assuming all has gone well with JOC. No one will make any public pronouncements until things are finalized. This is generally known as a "quiet" period. Principals are not allowed to discuss these things with anyone not directly involved. Violation is subject to legal and extra-legal prosecution.

I've not been involved in a Tender Offer, which is made more directly to shareholders, and what the BoD responsibilities are. Meade BoD has indicated it will study the offer and make a recommendation to shareholders by about July 8 ?? If the BoD recommends the offer be accepted, I do not know the details of its execution.

Anyway, in the meantime, I suggest you read through the last several 10-Ks from Meade. Ignore everything except for the financial statements and the Comments by Management addressing them. If you read the last two, covering three years operations, you will see that the inability to maintain revenues from big-box store sales had the largest impact on overall revenues. Also note that the May 10-K suggests that sales to the amateur astronomy community, as we seem to understand it, was less than $8 million.

I know you wear a cape with the Meade logo, but I will ask, if you were aware of their financial position when you ordered your system, would you have done so. If you would and did, I think it inappropriate to suggest others, perhaps without your means, do the same.

Caveat emptor (I think that is the spelling).


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frolinmod
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Re: The plot thickens (Meade takeover) [Re: EddWen]
      #5950781 - 07/02/13 05:10 AM

Goodbye Meade, it was nice while it lasted.

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