SegwayChat
Home . Old Gallery

Go Back   SegwayChat > Segway Forums > Segway General Discussion

Notices

Segway General Discussion General discussion related to any model of Segways, miniPROs, or Ninebots. Please do not post non-Segway technology posts here; use the technology forum instead.

Reply
 
Thread Tools Display Modes
Old 01-12-2010, 10:29 AM   #1
JohnG
Uber Administrator
Wise Segway Elder
JohnG is a splendid one to beholdJohnG is a splendid one to beholdJohnG is a splendid one to beholdJohnG is a splendid one to beholdJohnG is a splendid one to beholdJohnG is a splendid one to behold
 
JohnG's Avatar
 
Join Date: Sep 2002
Location: Greater Boston
Posts: 6,996
5 yr Member HT/PT Owner SegwayFest Attendee
Arrow Segway Merges with JWH Holdings (Segway UK)

Well, I received my stockholder letter yesterday. You know it's not good when it starts off with "Dear Former Stockholder of Segway Inc." It's dated 12 days ago, but was FedEx'd to me just yesterday.

JWH Holdings, Inc. turns out to be a holding company formed for just this transaction (incorporated in Delaware). But if you look up the contact address for notices in the agreement, you'll find that it appears to be the same address as Segway UK. So the upshot is that Segway UK purchased Segway Inc.

My favorite line in the entire document appears on page 13:

Quote:
(ix) each issued and outstanding share of Common Stock (what I have) shall be cancelled and no longer be outstanding and shall cease to exist and no consideration shall be delivered in exchange therefor.
Pretty much says it all. The agreement is structured in such a way as to make putting a price tag on it a little difficult. But it's not really a "merger" any more than Chrysler and MB was a merger (e.g., in name only).

Jim Norrod appears out as CEO. Tricia Laidler is the new CEO and Wayne Mitchell is the new COO.

I hope this means a bright future for the remaining company.

John

__________________
--
An original Segway employee, 2001-2005
JohnG is offline   Reply With Quote
Old 01-12-2010, 11:25 AM   #2
nickyboy
Member
nickyboy will become famous soon enoughnickyboy will become famous soon enough
 
nickyboy's Avatar
 
Join Date: Sep 2006
Location: South East England
Posts: 738
5 yr Member HT/PT Owner
Default

Quote:
Originally Posted by JohnG View Post
Well, I received my stockholder letter yesterday. You know it's not good when it starts off with "Dear Former Stockholder of Segway Inc." It's dated 12 days ago, but was FedEx'd to me just yesterday.

JWH Holdings, Inc. turns out to be a holding company formed for just this transaction (incorporated in Delaware). But if you look up the contact address for notices in the agreement, you'll find that it appears to be the same address as Segway UK. So the upshot is that Segway UK purchased Segway Inc.

My favorite line in the entire document appears on page 13:

Pretty much says it all. The agreement is structured in such a way as to make putting a price tag on it a little difficult. But it's not really a "merger" any more than Chrysler and MB was a merger (e.g., in name only).

Jim Norrod appears out as CEO. Tricia Laidler is the new CEO and Wayne Mitchell is the new COO.

I hope this means a bright future for the remaining company.

John

I assume JWH is Jimmy Heselden, the founder and owner of Hesco Bastion. Jimmy has been a backer of Wayne Mitchell of Segway UK for a couple of years.
__________________
Nick

Southern Segway
Tel: 0845 619 0007

To view links or images in signatures your post count must be 5 or greater. You currently have 0 posts.


To view links or images in signatures your post count must be 5 or greater. You currently have 0 posts.



To view links or images in signatures your post count must be 5 or greater. You currently have 0 posts.
nickyboy is offline   Reply With Quote
Old 01-13-2010, 09:14 AM   #3
gbrandwood
Advanced Member
gbrandwood is a jewel in the roughgbrandwood is a jewel in the roughgbrandwood is a jewel in the roughgbrandwood is a jewel in the rough
 
gbrandwood's Avatar
 
Join Date: Nov 2004
Location: North west England, UK.
Posts: 3,043
5 yr Member HT/PT Owner
Default

Quote:
Originally Posted by nickyboy View Post
I assume JWH is Jimmy Heselden, the founder and owner of Hesco Bastion. Jimmy has been a backer of Wayne Mitchell of Segway UK for a couple of years.
I thought you weren't revealing his identity!

Looking forward to an official announcement. How long will it be before it makes the news?

I'm certain the timing is related, as Bob suggested, to the UK consultation taking place. These things don't happen overnight so the move has probably been in the pipeline for a while.

Where does Dean Kamen sit in all of this? Does he still retain any ownership? Anyone know?
__________________
Gareth Brandwood
The comments posted are made by the fat figners of the individual and do not necessarily represent the views of the brain.
gbrandwood is offline   Reply With Quote
Old 01-13-2010, 12:01 PM   #4
wwhopper
Advanced Member
wwhopper is a splendid one to beholdwwhopper is a splendid one to beholdwwhopper is a splendid one to beholdwwhopper is a splendid one to beholdwwhopper is a splendid one to beholdwwhopper is a splendid one to beholdwwhopper is a splendid one to behold
 
wwhopper's Avatar
 
Join Date: Mar 2003
Location: Washington, DC, USA.
Posts: 4,894
5 yr Member HT/PT Owner
Default Maybe it is not the Segway Product that they were going after

If you look at Jimmy's bio, he is a mining guy. Mining folks don't want stand up Segways, what they want is robotic platforms that can do the work that humans can't.

So my take is he bought Inc. for the techonology, specifically the RMP side of the house. Which we as Segway users took very little notice of. Though a few of our friendly dealers were actively working with RMP customers.

My take is RMP is the product, as well as the technology where the new company will focus its energy, and the PT will take a back seat, and it will not be long before it is discontinued.

Stuff like the Puma will go over to GM and they have no interest in a stand up single user PT.
__________________
Will W Hopper
DCSEG
Washington, DC, U.S.A.
wwhopper is offline   Reply With Quote
Old 01-13-2010, 12:36 PM   #5
nickyboy
Member
nickyboy will become famous soon enoughnickyboy will become famous soon enough
 
nickyboy's Avatar
 
Join Date: Sep 2006
Location: South East England
Posts: 738
5 yr Member HT/PT Owner
Default

Quote:
Originally Posted by wwhopper View Post
If you look at Jimmy's bio, he is a mining guy. Mining folks don't want stand up Segways, what they want is robotic platforms that can do the work that humans can't.

So my take is he bought Inc. for the techonology, specifically the RMP side of the house. Which we as Segway users took very little notice of. Though a few of our friendly dealers were actively working with RMP customers.

My take is RMP is the product, as well as the technology where the new company will focus its energy, and the PT will take a back seat, and it will not be long before it is discontinued.

Stuff like the Puma will go over to GM and they have no interest in a stand up single user PT.
I thought the same myself, although Jimmy's core business is defence, not mining, the robotic platforms are probably of great interest, but remember he is a user of Segways at his factory. Last I heard he had about 10, and that was before he invested in Segway UK! I first met Jimmy about two years ago (2008) and he was very much into the Segway at that time. Also, I do not believe that Wayne will want to see the Segway PT dissapear if it is commercialy viable at all.
My guess is it will probably be a few months before we see any serious changes, if any. It will take a while to "see what they have got" and make any changes they consider necessary.
__________________
Nick

Southern Segway
Tel: 0845 619 0007

To view links or images in signatures your post count must be 5 or greater. You currently have 0 posts.


To view links or images in signatures your post count must be 5 or greater. You currently have 0 posts.



To view links or images in signatures your post count must be 5 or greater. You currently have 0 posts.
nickyboy is offline   Reply With Quote
Old 01-13-2010, 12:43 PM   #6
CovRob
Member
CovRob will become famous soon enoughCovRob will become famous soon enough
 
CovRob's Avatar
 
Join Date: Jun 2007
Location: Lake District, England
Posts: 549
5 yr Member HT/PT Owner
Default

Quote:
Originally Posted by wwhopper View Post
If you look at Jimmy's bio, he is a mining guy. Mining folks don't want stand up Segways...

My take is RMP is the product, as well as the technology where the new company will focus its energy, and the PT will take a back seat, and it will not be long before it is discontinued.
I'm not so sure. He is an ex-miner who was made redundant in the 1980's, that's true. He is also a (mulitple) Segway owner, enjoys them and has been very solidly supporting the push in the UK to get them legalised for public use. If he was only interested in other aspects of INC's inventory I doubt he would have thrown the money he has at continually badgering the DfT, with threats of court action, barrister's time, etc. to achieve recognition here.
__________________
Rob
CovRob is offline   Reply With Quote
Old 01-13-2010, 03:03 PM   #7
wwhopper
Advanced Member
wwhopper is a splendid one to beholdwwhopper is a splendid one to beholdwwhopper is a splendid one to beholdwwhopper is a splendid one to beholdwwhopper is a splendid one to beholdwwhopper is a splendid one to beholdwwhopper is a splendid one to behold
 
wwhopper's Avatar
 
Join Date: Mar 2003
Location: Washington, DC, USA.
Posts: 4,894
5 yr Member HT/PT Owner
Default A guy like that

Quote:
Originally Posted by CovRob View Post
I'm not so sure. He is an ex-miner who was made redundant in the 1980's, that's true. He is also a (mulitple) Segway owner, enjoys them and has been very solidly supporting the push in the UK to get them legalised for public use. If he was only interested in other aspects of INC's inventory I doubt he would have thrown the money he has at continually badgering the DfT, with threats of court action, barrister's time, etc. to achieve recognition here.
This kind of guy does not throw money away on something that will not return something to him. I am sure he is a Segway enthusiast, it is hard not to be one, we all know that. But as a sucessful businessman he is looking to make his purchase profitable. Selling Segways to consumers is not going to do that, that has been proven already.

As Nick stated his defense contracts are an important part of the equation. They would benefit from the RMP, as that is the prime market at the moment for the RMP.

Inc. recently said they are focusing on their core PT market, which is commercial security and police use of the PT. I think we will see the consumer or leisure market become less of a focus to the company. The consumer is the one who wants to see the price drop. While the other markets will endure a higher price better.

In the short run (1st quarter) as PT's, and the key parts to them are in short supply, it should be interesting to see what happens and how the existing dealers react.
__________________
Will W Hopper
DCSEG
Washington, DC, U.S.A.
wwhopper is offline   Reply With Quote
Old 01-13-2010, 05:53 PM   #8
Civicsman
Senior Member
Civicsman is a glorious beacon of lightCivicsman is a glorious beacon of lightCivicsman is a glorious beacon of lightCivicsman is a glorious beacon of lightCivicsman is a glorious beacon of lightCivicsman is a glorious beacon of light
 
Join Date: Jul 2007
Location: Freedonia!
Posts: 1,703
5 yr Member
Default

Quote:
Inc. recently said they are focusing on their core PT market, which is commercial security and police use of the PT. I think we will see the consumer or leisure market become less of a focus to the company. The consumer is the one who wants to see the price drop. While the other markets will endure a higher price better.

In the short run (1st quarter) as PT's, and the key parts to them are in short supply, it should be interesting to see what happens and how the existing dealers react.
Humorous! You think the consumer/leisure market "will" become less of a focus? In fact, INC marketing has focused almost entirely on commercial/police applications for years now.

However, you are mistaken in thinking that only consumer/leisure markets want better pricing. Commercial and police markets perform cost analyses and compare Segs to other forms of transport.

I think you naysayers are far too negative about the situation. Somebody bought Segway, Inc. This means the company was willing to be purchased. Generally, company management does not give up it's seat unless there is a good reason. Consequently, I conclude that being purchased is a good thing, and better than the alternative.

What makes you think PT's and parts are in short supply?
Civicsman is offline   Reply With Quote
Old 01-13-2010, 09:57 PM   #9
martinbogo
Junior Member
martinbogo is on a distinguished road
 
Join Date: Mar 2007
Posts: 53
5 yr Member
Default

There may be something to the idea that the UK branch bought Segway for the RMP side. Today's Segway News ( published JUST today ) was all about the robotics platforms:

http://blog.segway.com/20100113spotl...e-way-774.html
martinbogo is offline   Reply With Quote
Old 01-14-2010, 09:03 AM   #10
gbrandwood
Advanced Member
gbrandwood is a jewel in the roughgbrandwood is a jewel in the roughgbrandwood is a jewel in the roughgbrandwood is a jewel in the rough
 
gbrandwood's Avatar
 
Join Date: Nov 2004
Location: North west England, UK.
Posts: 3,043
5 yr Member HT/PT Owner
Question Could be but

Quote:
Originally Posted by martinbogo View Post
There may be something to the idea that the UK branch bought Segway for the RMP side. Today's Segway News ( published JUST today ) was all about the robotics platforms:

http://blog.segway.com/20100113spotl...e-way-774.html
I'm not convinced on this. The blog could just be a coincidence. I'm not aware of any Segway UK involvement with RMPs prior to now and I'm not aware of any major successes Segway INC have had with RMPs. They list a few examples:
  • Robosoccer
  • NASA Robonaut
  • Target practice
Interesting but not the kind of thing that will excite everyone.

I know just because I'm not aware of something doesn't mean it is so (or not), but until we hear something official or some further examples/thoughts, I'll stick to my guns on this.
__________________
Gareth Brandwood
The comments posted are made by the fat figners of the individual and do not necessarily represent the views of the brain.
gbrandwood is offline   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump


All times are GMT -4. The time now is 05:00 AM.
Copyright © 2002-2023 SegwayChat.org.
All rights reserved. Not affiliated with Segway Inc.

FreshBlue vBulletin skin by
VayaDesign
Powered by vBulletin
Copyright ©2000 - 2024, Jelsoft Enterprises Ltd.
SegwayChat Archive