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Larry Smith Electronics Closed

Discussion in 'Electronics' started by lwrandall, Jan 25, 2007.

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  1. lwrandall

    lwrandall senior member

    Mar 31, 2004
    I thought I read a news piece that Larry Smith Electronics in Florida has closed its doors. Anyone have know why? I always thought that Larry Smith was the premier yacht electronics reseller/installer in the U.S.
  2. taobsu

    taobsu New Member

    May 12, 2005
    northeast, usa
    Larry Smith Electronics closes

    Jan 12,2007 by Lucy Chabot Reed

    FT. LAUDERDALE (Jan. 12, 2007) • Larry Smith Electronics, a marine electronics company more than half a century old, closed its two South Florida offices this morning, surprising dozens of employees. Phone calls to company executives were not immediately returned but a former employee said they were told the news at a company staff meeting this morning.

    “I knew something was going on but many of us had no idea,” this employee said.

    Several sources said the company closed because of high debt and lost investors. The company let go some employees a few months ago in an attempt to get costs under control, and several top executives who had been running the company the past few years were released a few weeks ago, according to an industry source.

    Larry Smith Electronics has installed electronics equipment on hundreds of yachts since its founding in New Jersey in 1955. It opened in Ft. Lauderdale in 1968 and by 1975 claimed to service more than 80 percent of yachts in Palm Beach and Ft. Lauderdale. It has worked on some of the largest and most sophisticated yachts floating today, including the 224-foot Lurssen M/Y Oasis and the 287-foot Perini Navi S/Y Maltese Falcon.

    “We’re just coming off the best year we’ve ever had,” said Daryl Matfin, who was a marine sales associate with the company. “We’ve just completed some of our biggest projects, the company was making good money, we’re in a good position in the marketplace, we’ve had good boat shows.”

    Matfin has joined High Seas Technology, an electronics company owned by Pipewelders in Ft. Lauderdale. There was no word from Larry Smith Electronics as to what customers can expect. Watch the February issue of The Triton for more on this story.

    -- Lucy Chabot Reed

  3. MaxResolution

    MaxResolution Senior Member

    Jan 27, 2007
    Little Rock
    Larry Smith... CLOSED?

    Y'all will love my story:

    I had never visited Florida, but I just returned to Arkansas from a whirlwind drive around the coast in search of a new position with a major, high-end systems integrator, such as Larry Smith & Associates. Just before Christmas I had sent out several resumes, and Larry's A/V Manager, Ken French, responded in kind, saying; "We would love to visit with you, how soon can you get here?"

    "Ummm, next week!" I said, knowing these guys must be among a very short list of some of the best engineers out there. So, I pack my Jeep as a camper, and I race along the coast to make it for a meeting "first thing Tuesday morning." I find their office in the dark, check-in to the closest roadside Inn, and I'm so excited I harldy get a wink of sleep. That morning I go to knock on the door, only to discover the fatefull message: "Sorry, We're CLOSED." -Forever!

    Of course, you don't get to the top without being resourceful. I went straight to the source; Triton! Lucy & Crew couldn't have been more helpful. They gave me a map, a list, and within 30 minutes I was standing in the lobby of High Seas, down on Hwy 84!

    Now, I'm not sure where I'll be working, but I did hear from Ken, who couldn't have been more apologetic for the mix-up. I'm still not as concerned about my issues as I am for those poor boat owners. Can you imagine, having hundreds of thousands tied up on a project only to have the vendor go South on you?

    Thankfully, "High Seas" has come to many of these client's rescue... And, as in ANY field of construction, there's nothing more important than allowing those who are competent (and committed) to finish their jobs!

    If you know of anyone who has been hurt in this process, please call me! I am ready to join that 'completion-crew!' -Tom Gordon, A/V Systems Engineer, Little Rock.