Reveal -reavealed- Bad crap...
Jak Crow
Here's the answers that all us Reveal "customers"<I use the term
losely> have been waiting for:
Status of Reveal remains a mystery
By Charles Cooper
Reveal Computer Products Inc. has seen better days.
Last November, the company's hopes of being acquired were
dashed at the last minute when Creative Technologies Corp.
had second thoughts about a $65 million deal that was all
but signed, sealed and delivered.
Since then, the company has become the poster boy for
customer frustration. In scores of messages left on
Internet discussion groups, people who have bought Reveal
products are publicly skewering the company for the way in
which it has handled its rebate promotions.
In the latest chapter--might it be the final one?--Reveal
has been reduced to a skeleton crew one-tenth its size at
the beginning of the year, according to sources.
For several weeks, Internet news groups have been flooded
with postings from Reveal's customers, complaining about
not receiving promised rebates from the company.
Calls seeking comment from the Woodland Hills, Calif.,
company, which makes multimedia and PC upgrade products,
were not returned. However, a recorded message on Reveal's
800 sales line suggests the reason.
"As a result of product and technological changes in the
computer peripheral industry, Reveal is reconstructing its
operations and finance. If you would like to be added to
the creditors mailing list, please fax to 818-594-8474."
Less than 30 people are left at Reveal, down from more than
300 in January, according to one company source, who
requested anonymity. The source said the company's
creditors committee is trying to figure out how to get the
most money on the dollar, and thus attempting to avoid a
bankruptcy filing.
Like many other suppliers of multimedia upgrade kits,
Reveal was hurt after many PC OEMs started bundling CD-ROM
drives in all their systems last year. The bottom fell out
during the ensuing price competition between CD-ROM makers,
which saturated the market with product.
"It got to where you could pick 'em up for $25 at swap
meets," said the source. "Retailers had price protection
in their contracts and wanted their money back. You needed
deep pockets to survive."
Though it doesn't have deep pockets, Reveal' founding
shareholders include Beny Alagem, chairman and president of
NEC Packard Bell Inc.; Alex Sandel, president of
Cal-Circuit Abco II, who serves on the boards of both
Reveal and Packard Bell; as well as Jason Barzilay,
president and chairman of Reveal.
Calls to Alagem's office for comment were not returned.
Last year, the company was close to merging with Creative
Technologies. But days before the agreement was expected to
close, Creative suddenly pulled the plug on the deal.
At the time, Creative said it decided not to consummate the
proposed acquisition because of negative reaction in the
financial markets as well as the opposition of unidentified
major shareholders who "convinced management the potential
short-term disruptions caused by the proposed merger would
be greater than anticipated and would not be adequately
offset by anticipated long-term strategic gains."
Additionally, one source familiar with the decision said
officials from Creative became concerned after they took a
look at Reveal's financial books.
"When the numbers were checked more closely, they weren't
as strong as Creative was led to believe," the source said.
Coates
Actually, I have reason to thank Reveal, the same reason I have to thank
the no-name company that sold me my first machine. In both cases, I had
no cash and no hardware knowledge, but a need for a computer. In both
cases, I was royally screwed with equipment that broke down immediately
and would not be supported by any vendor. Therefore, in both cases I
began to research and learn everything I could about how the systems
work. I figured out who really made the hardware in question, found
working drivers and work-arounds for all of it, and got a working
machine. That led to some jobs, which led to money, and now I have a
good computer. Someday soon I'll go to Pentium, but I don't think I'll
buy a Reveal. Twice screwed is enough :-).
--
Jack and Laurel Coates [coa...@pacbell.net]
MARRIAGE, n. The state or condition of a community consisting of a
master, a mistress and two slaves, making in all, two.
--Ambrose Bierce, The Devil's Dictionary