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RE: You believe his SPIN

Posted by Ed Sawyer on April 11, 2017 at 05:18:18:

I don't buy his spin, just pointing it out. Frankly, knowing how harbeth seems to live hand-to-mouth and refuses to stock anything (made-to-order only), it wouldn't surprise me if they were caught short without hedged supplier contracts with fixed costs. Mostly they do assembly there, not real manufacturing, so they are at the mercy of vendors, but indeed their distributors need to squeeze them to hold the line on pricing, I agree. They are really a shoestring operation, I think maybe 4-6 people work there, if that, everything else is contracted out including cabinets and whatnot. A more serious 'manufacturer' would of course do things better, on a more industrial scale, and automate, hedge currency and supplier contracts and all sorts of other things but harbeth is not at that level.