Nakamichi Japan Files For Bankruptcy Citing the ten year economic downturn domestically in Japan, Nakamichi Japan announced on February 19, 2002 that they are filing with the Japanese government for their version of Chapter 11 bankruptcy protection. The parent company that owns Nak, Grande Group, is pledging to sponsor the reorganization and restructuring. Grande is a diversified company owning interests in consumer electronics, gaming and hotels.

Home Entertainment 2002,The Home Theater & Specialty Audio Show, Returns to New York City The Home Entertainment Show is returning to New York City for a second year in a row. Educational seminars and live musical performances along with some surprises offer something for everyone at this annual event. This consumer oriented show is co-sponsored by Home Theater, Stereophile Guide to Home Theater, Stereophile, and Audio Video Interiors magazines.

Onkyo America – NOT Onkyo USA – Files for Bankruptcy Onkyo USA, manufacturers of affordable home theater equipment, is alive and well despite confusing news reports. A completely different company, Onkyo America, is filing bankruptcy according to The Saint Petersburg Times. Onkyo USA was bought from Onkyo Corporation Japan many years ago. Onkyo America was an OEM manufacturer of car audio speakers and now will be reorganizing.

CEA Innovations 2002 Award Winners The 2002 Innovations awards honorees were recently announced by the Consumer Electronics Association (CEA) with many products spotlighting the advances in digital technology, wireless communications and gaming. Innovations 2002 is sponsored by CEA and endorsed by the Industrial Designers Society of America (IDSA). This awards program gives manufacturers and developers an opportunity to have their products judged by a preeminent panel of independent journalists, designers and engineers. Honored products will be on display in the Las Vegas Hilton during the 2002 International CES, held in Las Vegas, January 8-11, 2002.

General Motors Spins Off DirecTV to Echostar for $5.5 Billion General Motors Corp. and its subsidiary Hughes Electronics (NYSE: GM, GMH) together with EchoStar Communications Corporation (NASDAQ: DISH), today announced the signing of definitive agreements that provide for the spin-off of Hughes from GM and the merger of Hughes with EchoStar.