Tape may have hope

Discussion in 'Tape Recorders' started by Michael Fossenkemper, Jan 30, 2005.

  1. Michael Fossenkemper

    Michael Fossenkemper Distinguished past mastering moderator Well-Known Member

    Sep 12, 2002
    NYC New York
    Home Page:
    Quantegy buyer: http://www.cannonventures.com/quantegy
    Article from:

    Quantegy has a prospective buyer with ties to Opelika. Race Cannon
    grew up here, and his grandfather was partners with John Herbert Orr
    when the company began. Cannon said he'll get the company back on its
    feet, and do it with the now-former workers.

    "These employees are the people that know how to make the tape," said
    Cannon. "This tape can only be made in Opelika because you can't take
    a factory and put it somewhere else and try to retrain employees."

    He wants to implement an employee stock ownership plan and hopes to
    build a museum on-site with vintage audio equipment. It will also
    include a recording studio, with the possibility of current music
    artists coming to Opelika. �However, in order to keep the company
    competitive, the bankruptcy issues need to be dealt with quickly.

    "The sooner the better in this instance. They're not making any tape
    right now with the gates locked, and people need this tape," Cannon
    said. "If they wait too long to complete this transaction then that
    may reduce the demand for tape once the company is back up and

    Cannon said the analog tapes manufactured by Quantegy are not being
    replaced. �The tapes offer more of an original sound than digital
    media. �However, he intends to gradually add digital products along
    with the tape.

    Cannon said one downside to Quantegy is the corporate heads are not
    in Opelika. �The company has lacked local leadership, and Mayor Gary
    Fuller couldn't agree more.

    "That's how the whole thing started to begin with, with local folks.
    That would be even better, but the most important thing at the moment
    is to try to get someone in there," said Fuller. "If it's Race, that'd
    be just terrific. That'd be great news."

    So far, Quantegy owes around $25 million to creditors. �Once the
    bankruptcy filings are complete, that's when Cannon will offer a fair
    asking price.

    Cannon is looking for feedback from employees laid off over the
    holidays. He says it's crucial to making this work if he successfully
    aquires Quantegy. He has set up a web site where employees can
    anonymously send comments. �You can reach that page at
  2. Thomas W. Bethel

    Thomas W. Bethel Distinguished Member

    Dec 12, 2001
    Oberlin, OH
    Home Page:
    Analog tape is not something that I would like to see go the way of the DODO bird and disappear. However it is a niche market and we as recording and mastering engineers need to be able to tell the producers and retailers how much we need it and how much we need in a given year so they don't overproduce (which I understand is not currently a problem since there is much more demand than there is product).

    One problem that is facing Quantegy is that they are really far in dept. If they had started letting everyone know earlier they were looking for partners it probably would have been easier to find someone to help out.

    Since Quantegy is the only manufacture left in the states it is like a rare species on the verge of extinction and should be receiving help from the federal government (since they are a large user of data and logging tape and do not, I am told, have any other source.)

    I don't think the current administration cares one way or the other. I guess they think the Chinese will simply start making it and we can all buy it from them so NO PROBLEM.

    Lets hope that this is settled quickly and that Quantegy can start making the tape we all love and use.


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