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  1. #51
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    Re: The Vendors Letter to Axpona

    duplicate
    Last edited by Mr Peabody; April 28, 2020 at 11:54 AM. Reason: duplicate
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  2. #52
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    Re: The Vendors Letter to Axpona

    Thanks for posting. Let's hope they can all work something out.
    My Systems: http://www.audioshark.org/showthread...481#post158481

    "We can hear everything we measure, but we can't measure everything we hear. Let your ears be your guide."

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  3. #53
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    Re: The Vendors Letter to Axpona

    Axpona just announced on social media that they are cancelling 2020.
    Morgan

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  4. #54
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    Re: The Vendors Letter to Axpona

    Quote Originally Posted by MPW View Post
    Axpona just announced on social media that they are cancelling 2020.
    http://jdevents.com/Uploads/AXPONA20...NA_4.30.20.pdf
    Morgan

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  5. #55
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    Re: The Vendors Letter to Axpona

    While I'm sure it was a difficult decision, this is a good move, especially since Fauci is saying that a second wave of COVID-19 is inevitable....
    Sincerely,


    Joe

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  6. #56
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    Re: The Vendors Letter to Axpona

    COVID-19 infections are going to look like sharks teeth. We're going to see multiple waves until there's a vaccine. Strap in for long ride.


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  7. #57
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    Re: The Vendors Letter to Axpona

    As many including myself have suspected, there aren't funds available for full refunds to exhibitors and sponsors. Difficult situation for all parties that I really hope doesn't destroy this show. This is the closest show to me geographically and I have really enjoyed my time at Axpona over the years. Text of the letter to exhibitors and sponsors is below.


    Dear AXPONA Exhibitors and Sponsors;
    We at AXPONA wish you all the very best during these COVID-19 disrupted times. We care most about the health and safety of you and your loved ones. So many businesses are hurting, the future is unpredictable, opinions are mixed and emotions on all sides are strong. Ultimately we must err on the side of caution and the concern for human safety so it is with a heavy heart for us to announce that AXPONA 2020 has been cancelled.


    We know everyone is hurting right now. Many businesses in many industries are being hammered by the impact of this pandemic. JDE in particular is facing a financial calamity due to the disastrous impact on tradeshows. So I need to be transparent with you about the current position of JD Events and AXPONA:


    • JDE does not carry business interruption insurance that covers communicable diseases. In fact I am not aware of any US organizers that do. So our losses are not covered.
    • We are not a public company, owned by a venture fund, a large media firm or a trade association with deep pockets. We are a small privately held business, operating shows in two other industries which, like AXPONA, are both in peril. Like many of you we are applying for the PPP and disaster relief loans available through the SBA for a temporary lifeline as well as pursuing all other avenues of raising capital.
    • High end audio shows are not highly profitable. To do them right they are cost and manpower intensive undertakings. That is why you have never seen a large tradeshow organizer invest in building a show to serve the needs of this industry. JDE however chose to invest boldly in the outlier idea of building a world-class event comparable to Munich in North America.
    • We made large investments in multi-platform attendee marketing campaigns, signed a long-term commitment to make the Schaumburg venue AXPONA’s permanent home, hired professional and passionate full-time event management staff, developed and deployed customer satisfaction programs, and so much more that goes on behind the scenes at JDE, all designed to create the best possible customer experience and ROI environment for our exhibitors. We have not yet come close to recouping those investments
    • Our exhibit space contract language does not obligate JDE to pay refunds if the event is cancelled due to circumstances beyond our control. The pandemic could not have hit JDE at a worse time. Virtually all deposit monies were spent on producing and marketing the April show, including salaries, overhead and other service providers. Due to the havoc wrecked upon AXPONA and our entire business, JDE is simply not in a position to pay out refunds.


    I know everyone would like specific answers now but we need some time to fully assess the current damage to JDE and to pursue additional sources of funding to help us bridge the gap to 2021 and beyond. Over the next several weeks we will be devising a plan for all 2020 exhibitors to rebook their same space, advertising and sponsorship positions in the 2021 event by rolling a portion of their 2020 deposits forward. The amount that we can offer to roll forward will depend on our ability to strengthen our financial position in the weeks to come.


    There are no easy decisions in this time. JDE has let good people go and slashed salaries in order to stay afloat. We are deeply invested in and committed to this industry long-term. I hope you appreciate my candor even if you don’t like what you hear and we hope you are willing to work with us as all industry stakeholders must do in hard times. Even though this is a time when we are required to be distant from each other I believe in the long run that this experience will bring us closer together.
    On a positive note, we are excited by the response to the “AXPONA Livestream” event on what would’ve been our April 17 opening day. We plan to conduct more virtual events in the coming months to keep the community connected and to provide value at no charge to our exhibitors during this down time.
    It remains our pleasure to serve this great industry. Thank you all for your understanding and your support.
    Sincerely,


    Joel A. Davis
    Founder & CEO
    JD Events
    Morgan

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  8. #58
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    Re: The Vendors Letter to Axpona

    Duplicate
    Morgan

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    POWER AudioQuest Niagara 5000 on dedicated 20 amp/10 gauge circuit
    WIRES AudioQuest William Tell, Earth, Leopard, Tornado
    RESONANCE/ISOLATION Nordost Sort Kones - BC & AC, Herbie's Giant Decoupling Gliders

  9. #59
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    Re: The Vendors Letter to Axpona

    Since JDE manages many trade shows other than Axpona, they are in a real bad situation. I can understand both sides. I really hope everything works out in the end. I’m sure the hotel isn’t playing ball either.
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  10. #60
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    Re: The Vendors Letter to Axpona

    I have to wonder if Axpona isn't profitable, then why do it and why take on more than one show. Axpona is said to be one of the largest shows, so how did the other shows provide refunds where Axpona is not able?

    I hope as well it all works out but from what I see so far I have my doubts. Sometimes brands have to decide which shows to attend, I don't think it will hurt them to pass on Axpona. On the other hand I'm sure there's other things to factor in, how much of a boost is doing the show for the brand, etc. Not all of the venders at the show are big names though, some are just getting started and many are just retailers showing the brands, they really can't afford the loss, getting it from both ends.
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  11. #61
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    The Vendors Letter to Axpona

    Quote Originally Posted by Mr Peabody View Post
    I have to wonder if Axpona isn't profitable, then why do it and why take on more than one show. Axpona is said to be one of the largest shows, so how did the other shows provide refunds where Axpona is not able?

    I hope as well it all works out but from what I see so far I have my doubts. Sometimes brands have to decide which shows to attend, I don't think it will hurt them to pass on Axpona. On the other hand I'm sure there's other things to factor in, how much of a boost is doing the show for the brand, etc. Not all of the venders at the show are big names though, some are just getting started and many are just retailers showing the brands, they really can't afford the loss, getting it from both ends.
    The show business is NOT a highly profitable business.

    For me, it’s about the passion to have a great local show because we have a good story to tell down here.

    That being said, the risk is too high in times like these for any show exhibitor.


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  12. #62
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    Re: The Vendors Letter to Axpona

    It will be very interesting to see what happens with RMAF now.


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  13. #63
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    Re: The Vendors Letter to Axpona

    Quote Originally Posted by Mike View Post
    It will be very interesting to see what happens with RMAF now.


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  14. #64
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    Re: The Vendors Letter to Axpona

    Quote Originally Posted by Mr Peabody View Post
    I have to wonder if Axpona isn't profitable, then why do it and why take on more than one show. Axpona is said to be one of the largest shows, so how did the other shows provide refunds where Axpona is not able?
    'Cos the hotel didn't give them the money back and MOC did (they have rolled over the payment to 2021). That makes all the difference. I can guarantee that if MOC decided to keep the money, High End Society (the company behing Munich High End) wouldn't be able to refund the exhibitors either.

    From a business point perspective, imagine your comapany having to refund all your customers in full, from the past 12 months. There are very few companies that would survive that. Airlines are asking for bailouts only after 2 months, and they are still operating, although at very low scale (shipping cargo). Now imagine a year without a revenue (as having to refund all of their exhibitors for a show that takes place once in a year means exactly that - 12 month worth or revenue, where the monies have been already spent on the project).

    I feel really sorry for Axpona.
    Adam

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  15. #65
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    Re: The Vendors Letter to Axpona

    Quote Originally Posted by Mike View Post
    It will be very interesting to see what happens with RMAF now.


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  16. #66
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    The Vendors Letter to Axpona

    Adam and I are two of only a handful of people that have the proper perspective on things. We know how difficult it is to work with the hotels. Let me give you an example:

    - this year at my show, the Florida Audio Expo, Peter from Magico arrived a day early and wanted to set up. I called the hotel and spoke with my POC to see if we could get the room. She said, “the contract says you do not get the room until tomorrow.” I said, “yes, yes, yes, I understand that, but the room is just sitting there empty!” She said, “your contract says you get the room tomorrow.”

    This is just one of 100’s of examples. They are by the book, strictly by the contract.

    In all likelihood, the Axpona Exhibitor contract closely mirrors the contract JDE has with the hotel. As the organizer, they are caught in the middle.

    Given that JD Events manages many other trade shows (they are all listed on their website), they are in the same or similar predicament with several other of their shows.

    I totally understand the unfortunate circumstances for the exhibitors. Some, like VAC, take large expensive rooms at Axpona and are out thousands and thousands more than the standard room. Others, smaller vendors, make this one big expenditure per year. To lose that with no upside really hurts.

    But let me tell you all a story.....when I was growing up in Canada, there were hockey rinks on every corner. I started playing hockey at the age of 4 and at the age of 51 today, I still play three times a week. Finding a rink to play at in Canada was no problem at all. Now that I live in Florida, there is a hockey arena 20 minutes away from my house. But the next closest rink is over an hour away. So, frankly, we don’t have a lot of choices. When all of this Coronavirus stuff went down, we had just recently paid our $500 for the season. The rink shut. The ice was taken out to conserve costs. All games cancelled. My teammates started screaming for their money back. But my perspective was different: nobody could have seen this coming. Nobody could have predicted this. I was happy for the rink to keep my money (remember, I play in 3 leagues!) if it helps them stay afloat and reopen again one day so I can keep playing hockey. My perspective was: the bigger picture.

    This is a bad situation all around and frankly, if I was in JDE’s situation, I may not have a lot of options except the most drastic corporate measure of all. Adam will tell you, this is a tough business and putting on a show is a lot more work than anyone could imagine.
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  17. #67
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    Re: The Vendors Letter to Axpona

    I agree on all fronts, your committing up front on both sides and not buying a Lloyd’s policy.

    Our industry show canceled and I spend close to $30K all in, it is supposed to be rescheduled for September, but I doubt it - in the end, it is what it is.


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  18. #68
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    Re: The Vendors Letter to Axpona

    Thanks for the insight, Mike. People are forgetting commercial landlords aren’t even getting rent right now. Got to chalk it up and move on.
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  19. #69
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    Re: The Vendors Letter to Axpona

    Thanks for the insight, Mike. People are forgetting commercial landlords aren’t even getting rent right now. Got to chalk it up and move on.
    Brinkmann Bardo w/ 47 Labs MC Bee cart, MSB Premier DAC --> Music First Baby Reference v2 --> Ampzilla 2000, 2nd Edition --> YG Acoustics Hailey 2.2

  20. #70
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    Re: The Vendors Letter to Axpona

    Quote Originally Posted by Mike View Post
    It will be very interesting to see what happens with RMAF now.
    I would guesstimte they have already paid the hotel ~50% deposit at this point. This is what I have paid and I have problems with rolling that over to 2021. We are talking about a six figure numbers. I haven't taken a single dollar in deposits so far, so worst case scenario - I'm looking at a 6 figure loss. I may need to sell my entire system to partialy cover the losses.
    Adam

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  21. #71
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    Re: The Vendors Letter to Axpona

    Quote Originally Posted by Elberoth View Post
    I would guesstimte they have already paid the hotel ~50% deposit at this point. This is what I have paid and I have problems with rolling that over to 2021. We are talking about a six figure numbers. I haven't taken a single dollar in deposits so far, so worst case scenario - I'm looking at a 6 figure loss. I may need to sell my entire system to partialy cover the losses.
    Adam, I hope your venue management comes to their senses and works with you. Fingers crossed!


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  22. #72
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    Re: The Vendors Letter to Axpona

    Quote Originally Posted by Elberoth View Post
    I would guesstimte they have already paid the hotel ~50% deposit at this point. This is what I have paid and I have problems with rolling that over to 2021. We are talking about a six figure numbers. I haven't taken a single dollar in deposits so far, so worst case scenario - I'm looking at a 6 figure loss. I may need to sell my entire system to partialy cover the losses.
    Adam, I hope your venue management comes to their senses and works with you. Fingers crossed!


    Sent from my iPhone using Tapatalk
    My Systems: http://www.audioshark.org/showthread...481#post158481

    "We can hear everything we measure, but we can't measure everything we hear. Let your ears be your guide."

    Dealer for: Aqua Hi-Fi, Audio Research, Aurender, AudioQuest Cables & Power Products, Avantgarde Acoustics, Avid HiFi, Ayre Acoustics, Berkeley Audio Design, Boulder Amplifiers, Bowers & Wilkins (B&W), Bryston, Chord, EMM Labs, FirstWatt, Focal Headphones, Furutech, Fyne Audio Loudspeakers, GigaFoil, Gryphon Audio, Harbeth Loudspeakers, Hegel, HiFi Man, ISO Acoustics, Keces Power Supplies, Kuzma Turntables, Lumin, Luxman, Magico Loudspeakers, MBL Speakers & Electronics, MSB Technologies, MySonicLabs Phono Cartridges, Naim Audio, Ortofon, Pass Labs, Quadraspire, Shunyata Research, SimAudio, Stein Music Products, Stenheim Loudspeakers, Stillpoints, T+A Electronics, TechDAS/AirForce Turntables, VAC, Vicoustics, Viva Audio, VPI Industries, WireWorld Cables.

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  23. #73
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    Re: The Vendors Letter to Axpona

    Quote Originally Posted by Elberoth View Post
    I would guesstimte they have already paid the hotel ~50% deposit at this point. This is what I have paid and I have problems with rolling that over to 2021. We are talking about a six figure numbers. I haven't taken a single dollar in deposits so far, so worst case scenario - I'm looking at a 6 figure loss. I may need to sell my entire system to partialy cover the losses.
    Stay strong, there are answers somewhere.


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  24. #74
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    Re: The Vendors Letter to Axpona

    Adam - Here's hoping for a reasonable resolution.
    _______________

    Mike

  25. #75
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    Re: The Vendors Letter to Axpona

    I saw Stereophile did an update on the Axpona story today. It appears JDE sent a letter out today saying the receivers of the letter get 100% of their money credited as follows, 50% of the 2020 deposit credited to 2021 and 25% each of the two following years.

    That would seem to be a reasonable compromise in light of circumstances. IMO
    Aurender ACS10 w/AQ Diamond,
    Mark Levinson #526 & 532h, JBL 4367's
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    HT: Marantz AV8003, Linn 5125, JBL SAM3ha, Revel s30,
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  26. #76
    Senior Member
    Join Date
    Nov 2013
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    St. Louis, MO, USA
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    Re: The Vendors Letter to Axpona

    I saw Stereophile did an update on the Axpona story today. It appears JDE sent a letter out today saying the receivers of the letter get 100% of their money credited as follows, 50% of the 2020 deposit credited to 2021 and 25% each of the two following years.

    That would seem to be a reasonable compromise in light of circumstances. IMO
    Aurender ACS10 w/AQ Diamond,
    Mark Levinson #526 & 532h, JBL 4367's
    Clearaudio Performance DC w/Maestro cart
    All Clarus Crimson cabling, AC to binding post. Surgex
    HT: Marantz AV8003, Linn 5125, JBL SAM3ha, Revel s30,
    SVS PC13 Ultra
    Transparent, Analysis Plus & Tributaries. PS Audio filtering
    Sony XBR-75X940D & BDP

Page 2 of 2 FirstFirst 12
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The Vendors Letter to Axpona

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