Sad Day in Grand Rapids, Michgan

Headlines on this evening's Press read "Music Fades for Nation's Largest
Jukebox Maker"... Rowe seeks bankruptcy protection; assets being sold.

I will try to get a scan or link ..... The G-man

Wow! That will just leave Rock-ola as the last man standing in the US
made juke market.

--
Ken In Texas
http://www.pinballrebel.com
Custom Pinball Cards, Jukeboxes, Drive In's

"Never ask a man if he's from Texas.
If he is, he'll tell you on his own.
If he ain't, no need to embarrass him."

In article ,
Ken In Texas wrote:

Wow! That will just leave Rock-ola as the last man standing in the US
made juke market.

Sad. I didn't like AMI's at first, but they grew on me after a while
(seeing something besides a C did that Even though the ones before
the H look a bit 'bland', they're really great machines and a dream to
work on. My D-40 on 45s doesn't screw up, my F-120 doesn't have me
scrambling all around the thing to work on it. I wouldn't mind a
Continental (but 100 play).

Rock-Ola? Better I don't state my opinions. Ok, maybe the new ones are
better, but I've not heard any older ones that sounded decent, and I
don't care for the later 45 rpm mechs.

I never understood why Seeburg died, they had argueably the best mech
and were always on the technology cutting edge.

Wurlitzer I can understand, the last 45rpm mech looks lousey and I've
heard they don't work much better. And they killed themselves with the
1015 repros, long term. 1015 repros look out of place except at a
'nostaliga' themed place, and they never broke their oldie image, and
they got the image as the 'repro' company, and I suspect people couldn't
look past that.

NSM? Big in .eu, not so in the US, and I hear they're gone anyway.

AMI? They were just always there, and just got better with age. At
least until the mech wears out and starts shuffling records or slamming
them back into the rack

Ok, one thing I never understood - AMI and Rock-Ola arrived at the same
basic mech design, and the parts even look pretty close. Did they ever
get into legal battles or did they license each other's patents? The
gripper was clearly AMI's thing, the belt supported rack was Rock-Ola's,
I think, after they got away from that weird (but entertainning) early
design.
--
To email me, chage 'usermale' to 'usermail'.

"The G Man" wrote in message news:cJO5b.353513$o%2.161706@sccrnsc02...
Headlines on this evening's Press read "Music Fades for Nation's Largest
Jukebox Maker"... Rowe seeks bankruptcy protection; assets being sold.

I will try to get a scan or link ..... The G-man

Sounds to me like they are more likely going to be bought out...
From Replay Magazine's website:

ROWE FILES CHAPTER 11 TO FACILITATE SALE OF CONTINUING OPERATIONS

(posted Friday, August 29, 2003 -- 11:00AM)

Rowe International, Inc. has filed a voluntary petition for
reorganization under Chapter 11 of the U.S. Bankruptcy Code in order
to facilitate the sale of its operations. In its filings in the U.S.
Bankruptcy Court for the Western District of Michigan, Rowe indicated
that it had reached terms with Alexander Enterprises, Inc. (an
affiliate of Alpha Private Equity Group) to serve as a "stalking horse
bidder" for substantially all of its assets, subject to bankruptcy
court approval and higher bids through the court's auction process.

According to Rowe, the decision to file the Chapter 11 proceeding was
based on an excessive secured debt load of more than $80 million,
which carried a maturity date of Dec. 31, 2003. "Rowe will continue to
operate its business in the normal course during the sale process,"
stressed chairman/CEO Doug Johnson, "and will work with its secured
lenders, trade creditors, employees and prospective purchasers to
facilitate a sale of substantially all operating assets which the
company believes is in the best interest of all of its creditors and
the future of the business under new ownership."

American businesses using creditor-supported Chapter 11 filings as a
method of restructuring debt has become more common in recent years,
Johnson explained. "Chapter 11 can be an effective instrument for
companies whose troubles derive from crippling capital structures, but
whose fundamental businesses are sound and well managed. This is
certainly the case with Rowe, which, in spite of its enormous debt
load, has always shown a profit before interest was applied. And this
is a positive step for Rowe after more than 13 years of burdensome
debt."

To fund its ongoing operations during this sale process, Rowe has
reached an agreement with JPMorgan Chase Bank (acting as the agent
bank for Rowe's pre-petition senior secured lenders, subject to court
approval) to use Rowe's cash collateral, including cash on hand,
collections from outstanding receivables and work-in-process. Rowe
also has secured additional debtor-in-possession (DIP) financing to
further fund its ongoing operations prior to a sale (the DIP financing
facility is also subject to court approval).

Rowe has filed various first-day motions in the bankruptcy court in
Grand Rapids to support its employees in Michigan and Texas and 350
vendors, together with its customers and stakeholders. The first-day
motions include requests to honor pre-petition obligations to
employees; to approve certain sale procedures in order to facilitate
the sale of substantially all of the assets to the highest and best
bidder; and to retain legal, financial and other professional services
to support the reorganization and sale of assets. Due to the Rowe's
agreement with JPMorgan Chase Bank for the use of cash collateral and
the DIP facility, the firm's employees, vendors, suppliers, and other
business partners will be paid under normal terms for goods and
services provided during the reorganization and sale processes.

During the reorganization process, Johnson stated, "Rowe will continue
with its aggressive product development program. In the first half of
this year, Rowe's upside potential from its new products began to
manifest itself," he said. "We completed our client/server system to
support a digital entertainment network for international jukebox
markets. We made major upgrades to our currency changer lines and
divested our declining vending business.

"Rowe has very bright business prospects, which was instrumental in
attracting potential buyers," Johnson added. "More than 30 companies
took a close look at Rowe and, to date, the company has received five
offers including the one accepted by the Company from Alexander
Enterprises."

Johnson explained that over the coming months, Rowe will work with its
secured lenders, trade creditors, employee groups and other
stakeholders to develop a plan of reorganization that will serve as a
roadmap for the future. "The company will look at every aspect of its
operations and make the necessary changes to ensure its market
leadership position. The final hearing and approval of the sale of the
company is expected to occur at the end of October," Johnson said.

Rowe's legal counsel with respect to the Chapter 11 filing and sale is
Miller, Johnson, Snell & Cummiskey, P.L.C. Northstar Industries, Inc.
of Minneapolis is serving as investment banker to assist the company
in the sale process.

John Margold, senior VP of sales and marketing, emailed some trade
people following release of the above: "Rowe will run without
interruption and we will be a debt-free company for the first time in
a decade. As we restructure, all will be business as usual, from
equipment deliveries to parts backup to warranty repair."

Well here is my view

AMI-ROWE Excellent commerical grade jukeboxes. Very popular with ops,
easy to swap modules. Parts were easy to order and get.

Wurlitzer- the last wurlitzer 45 rpm series made in the US was junk. It
is what put them under. The current company is a german based outfit.
All the ops I know will not but a wurlitzer box for a route.

Seeburg - good box but they never made a real good shift to the cd box.
The few attempts had serious issues.

ROck-Ola - just kept humming along....however...rock-ola was bought out
by antique apparatus and relocated to CA. They are trying to break into
the commercial business and have several really good models for ops.
However they too got to be known for the repro 1015's and such. It is
an uphill battle for them Im sure. But the are privatley owned and in
my view will be around for a while. I can't vouch for how well the
parts dist. is because mine has never needed a repair. I still do not
know an op who has bought one to operate on location.

NSM - cheap, work pretty good...but all the ops I know always complained
about how long it took to get parts.

--
Ken In Texas
http://www.pinballrebel.com
Custom Pinball Cards, Jukeboxes, Drive In's

"Never ask a man if he's from Texas.
If he is, he'll tell you on his own.
If he ain't, no need to embarrass him."

Thanks for the info... Let's all hope for the best!


Kel.. The G-man

"ThomasTeeter" wrote in message
om...
"The G Man" wrote in message
news:cJO5b.353513$o%2.161706@sccrnsc02...
Headlines on this evening's Press read "Music Fades for Nation's Largest
Jukebox Maker"... Rowe seeks bankruptcy protection; assets being sold.

I will try to get a scan or link ..... The G-man

Sounds to me like they are more likely going to be bought out...
From Replay Magazine's website:

ROWE FILES CHAPTER 11 TO FACILITATE SALE OF CONTINUING OPERATIONS

(posted Friday, August 29, 2003 -- 11:00AM)

Rowe International, Inc. has filed a voluntary petition for
reorganization under Chapter 11 of the U.S. Bankruptcy Code in order
to facilitate the sale of its operations. In its filings in the U.S.
Bankruptcy Court for the Western District of Michigan, Rowe indicated
that it had reached terms with Alexander Enterprises, Inc. (an
affiliate of Alpha Private Equity Group) to serve as a "stalking horse
bidder" for substantially all of its assets, subject to bankruptcy
court approval and higher bids through the court's auction process.

According to Rowe, the decision to file the Chapter 11 proceeding was
based on an excessive secured debt load of more than $80 million,
which carried a maturity date of Dec. 31, 2003. "Rowe will continue to
operate its business in the normal course during the sale process,"
stressed chairman/CEO Doug Johnson, "and will work with its secured
lenders, trade creditors, employees and prospective purchasers to
facilitate a sale of substantially all operating assets which the
company believes is in the best interest of all of its creditors and
the future of the business under new ownership."

American businesses using creditor-supported Chapter 11 filings as a
method of restructuring debt has become more common in recent years,
Johnson explained. "Chapter 11 can be an effective instrument for
companies whose troubles derive from crippling capital structures, but
whose fundamental businesses are sound and well managed. This is
certainly the case with Rowe, which, in spite of its enormous debt
load, has always shown a profit before interest was applied. And this
is a positive step for Rowe after more than 13 years of burdensome
debt."

To fund its ongoing operations during this sale process, Rowe has
reached an agreement with JPMorgan Chase Bank (acting as the agent
bank for Rowe's pre-petition senior secured lenders, subject to court
approval) to use Rowe's cash collateral, including cash on hand,
collections from outstanding receivables and work-in-process. Rowe
also has secured additional debtor-in-possession (DIP) financing to
further fund its ongoing operations prior to a sale (the DIP financing
facility is also subject to court approval).

Rowe has filed various first-day motions in the bankruptcy court in
Grand Rapids to support its employees in Michigan and Texas and 350
vendors, together with its customers and stakeholders. The first-day
motions include requests to honor pre-petition obligations to
employees; to approve certain sale procedures in order to facilitate
the sale of substantially all of the assets to the highest and best
bidder; and to retain legal, financial and other professional services
to support the reorganization and sale of assets. Due to the Rowe's
agreement with JPMorgan Chase Bank for the use of cash collateral and
the DIP facility, the firm's employees, vendors, suppliers, and other
business partners will be paid under normal terms for goods and
services provided during the reorganization and sale processes.

During the reorganization process, Johnson stated, "Rowe will continue
with its aggressive product development program. In the first half of
this year, Rowe's upside potential from its new products began to
manifest itself," he said. "We completed our client/server system to
support a digital entertainment network for international jukebox
markets. We made major upgrades to our currency changer lines and
divested our declining vending business.

"Rowe has very bright business prospects, which was instrumental in
attracting potential buyers," Johnson added. "More than 30 companies
took a close look at Rowe and, to date, the company has received five
offers including the one accepted by the Company from Alexander
Enterprises."

Johnson explained that over the coming months, Rowe will work with its
secured lenders, trade creditors, employee groups and other
stakeholders to develop a plan of reorganization that will serve as a
roadmap for the future. "The company will look at every aspect of its
operations and make the necessary changes to ensure its market
leadership position. The final hearing and approval of the sale of the
company is expected to occur at the end of October," Johnson said.

Rowe's legal counsel with respect to the Chapter 11 filing and sale is
Miller, Johnson, Snell & Cummiskey, P.L.C. Northstar Industries, Inc.
of Minneapolis is serving as investment banker to assist the company
in the sale process.

John Margold, senior VP of sales and marketing, emailed some trade
people following release of the above: "Rowe will run without
interruption and we will be a debt-free company for the first time in
a decade. As we restructure, all will be business as usual, from
equipment deliveries to parts backup to warranty repair."

Ken In Texas wrote in message ...
Well here is my view

AMI-ROWE Excellent commerical grade jukeboxes. Very popular with ops,
easy to swap modules. Parts were easy to order and get.

And still are... Many people don't realize just how easily some CD
juke parts are obtainable- many of the 45RPM juke (R84+) parts are
exactly the same as used on the CD jukes- magazine motor, sprag
assembly, transfer motor(just swap the mounting bracket), optical
switch, etc...)


Wurlitzer- the last wurlitzer 45 rpm series made in the US was junk. It
is what put them under. The current company is a german based outfit.
All the ops I know will not but a wurlitzer box for a route.

*I* certainly wouldn't... You are correct in the the fact that
the last few 45RPM models were junk. The last three that came into my
shop were returned to the owner as either "unrepairable" or not worth
the cost to repair...


Seeburg - good box but they never made a real good shift to the cd box.
The few attempts had serious issues.

I am not a Seeburg fan, much less a Seeburg CD juke fan and agree that
they had many issues in the beginning. However, for the first
generation CD players, they did have a place. Many swear that the SCD
series sound better than their Rowe or other counterparts. The later
series (the "Blast", "Neon" and "Gold") were not too bad considering
the relatively low cost to operators. However, I would certainly NOT
recommend these to the home market as parts are for all practical
purposes completely unobtainable.

ROck-Ola - just kept humming along....however...rock-ola was bought out
by antique apparatus and relocated to CA. They are trying to break into
the commercial business and have several really good models for ops.
However they too got to be known for the repro 1015's and such. It is
an uphill battle for them Im sure. But the are privatley owned and in
my view will be around for a while. I can't vouch for how well the
parts dist. is because mine has never needed a repair. I still do not
know an op who has bought one to operate on location.


I have had only a couple on location, but have always mainly been a
Rowe man... The Rockolas from about 4000X up have been very reliable
for me, and I consider the sound to be at least equal to or better
than Rowe. Not sure about parts availability as I have never been in
need of a part "immediately"


NSM - cheap, work pretty good...but all the ops I know always complained
about how long it took to get parts.


EVERY op I have spoken with have stated this. I have never run a NSM,
so I can't speak with experience on this one...

Thomas
thomasteeter(at)msn.com