More Avid rattling as 4 leave to Gobbler

[Marcus Moore]

I very much look forward to people’s opinion on this. Reading thru the ProToolsExpert author’s replies in the comments- it seems this is not a calculated move or some collaberative venture.

While I don’t see myself moving back to avid- I think they fill an important place in the industry. Hopefully this isn’t a sign of the end times!

[Craig Seeman]

I noted this linked to as well in the comments.

Avid May 13 SEC filing.
https://ir.avid.com/secfiling.cfm?filingID=896841-14-27

Given the accounting costs they’re being hit with, one wonders if senior level employees feel there will be no growth potential for them for some time if they were to stay with Avid.

$22 Million in cash reserves with remaining payments to restatements expected to be $15-20 Million.

[Craig Seeman]

Another interesting tidbit May 16 SEC

https://biz.yahoo.com/e/140516/avid8-k.html

Change in Directors or Principal Officers

Item 5.02 Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers

On May 14, 2014, the Compensation Committee (the “Committee”) of the Board of Directors of Avid Technology, Inc. (the “Company”) granted options to purchase shares of Avid’s common stock to the Company’s executive officers, including named executive officers, under the Company’s 2005 Amended and Restated Stock Incentive Plan, all as set forth below. Historically, the Company has made equity awards to its executive officers and key employees in the February and March timeframes, respectively, or in connection with the executive or key employee’s hire. However, following the commencement of the ongoing accounting review in late February 2013, the Company suspended its annual and new hire grants pending further review of the circumstances surrounding the restatement and evaluation of the Company’s compensation programs in the context of the changes in the Company’s management in 2013. Based on that review and evaluation and considering the importance to the Company of retaining and motivating management and key employees during the ongoing transformation of the Company, the Committee has determined to reinstitute regular option grants. In this regard, the Committee made the following option grants to our executive officers and other officers:
…

[Aindreas Gallagher]

wait – I’m stupid – do you mean to say Avid have twenty two million dollars left as cash reserve?

With fifteen to twenty million set against it?

https://vimeo.com/user1590967/videos http://www.ogallchoir.net promo producer/editor.grading/motion graphics

[Rich Rubasch]

We really need the next player take a step up. Either Apple with a FCP X.2 release with a ton of new features that addresses the things that us collaborators in shops with 6 systems networked together need…and keep the perpetuity option…or Sony ports Vegas over to Mac…or Autodesk simplifies Smoke into a competent and complete AVID editor that Hollywood can adopt to move it’s acceptance forward or Blackmagic outright buys AVID, but only the editing software.

Or?

Rich Rubasch
Tilt Media Inc.
Video Production, Post, Studio Sound Stage
Founder/President/Editor/Designer/Animator
https://www.tiltmedia.com

[Andrew Kimery]

Lightworks for Mac open Beta will start June 11th so hopefully that will lead somewhere promising. Considering what Blackmagic is doing with Resolve I doubt they have any interest in Avid.

On one hand it’s good to have so much competition in the NLE market on the other hand all the competitors keep snatching defeat from the jaws of victory.

[Craig Seeman]

The way I read it, they reported what they have, how much more they expect to spend on accounting, what their borrowing potential is… if they wanted to go into debt to raise capital.

…. then they reported a couple of days later (other post I added) that after having stopped giving out stock grants to executives, they started that again “to retain and motivate management.” This at about the time 4 senior employees jump ship.

Sure sounds like they’re explaining how they’ll soon be running on empty and how they’re going to get there.

[Oliver Peters]

[Rich Rubasch] “Either Apple with a FCP X.2 release with a ton of new features that addresses the things that us collaborators ……..or Sony ports Vegas over to Mac…or Autodesk simplifies Smoke into a competent and complete AVID editor that Hollywood can adopt …..or Blackmagic outright buys AVID.”

None of this is going to happen. Apple doesn’t particularly want that market. Vegas on the Mac? Doubtful, but possible since they did it with SoundForge. But, it’s not a collaboration tool either. Smoke has played out and is now a rental software. BMD doesn’t want Avid, since it’s already developing Resolve to do that. Both Smoke and Resolve are positioned as finishing tools and not strong offline editors for large projects. So your viable alternatives today are – FCP X as is, Premiere Pro or Lightworks.

– Oliver

Oliver Peters Post Production Services, LLC
Orlando, FL
http://www.oliverpeters.com

[Rich Rubasch]

Media 100?

Rich Rubasch
Tilt Media Inc.
Video Production, Post, Studio Sound Stage
Founder/President/Editor/Designer/Animator
https://www.tiltmedia.com

[Jim Wiseman]

I’m still using Media 100 latest version, but I doubt they have interest in stepping up to that plate. Works quite well, still 32 bit. I’m going FCPX and waiting to see if BlackMagic can pull it off with Resolve. Anything but disgraced (in my opinion) Adobe.

Jim Wiseman
Sony PMW-EX1, Pana AJ-D810 DVCPro, DVX-100, Nikon D7000, Final Cut Pro X 10.1.1, Final Cut Studio 2 and 3, Media 100 Suite 2.1.5, Premiere Pro CS 5.5 and 6.0, AJA ioHD, AJA Kona LHi, Blackmagic Ultrastudio 4K, Avid MC, 2013 Mac Pro Hexacore, 1 TB SSD, 64GB RAM, 2-D500: 2012 Hexacore MacPro 3.33 Ghz 24Gb RAM GTX-285 120GB SSD, Macbook Pro 17″ 2011 2.2 Ghz Quadcore i7 16GB RAM 250GB SSD