News

Name change: Ultimate Acquisitions Partners, the company that operates the Colorado-based Ultimate Electronics chain, has announced that it is converting all nine of its Colorado SoundTrack consumer electronics superstores to the Ultimate Electronics brand name this September. That will allow all 32 of the company's retail stores to "deliver a consistent, unified message to consumers in all of its markets and more clearly communicate its offerings and store experience," according to a press release.

Randall Baumberger, Ultimate Electronics' president and chief operating officer, stressed that the move will not change the local nature of SoundTrack's operations. "Only the SoundTrack name is changing. This company has served Colorado for over 37 years and remains a locally based company committed to maintaining the same passion for consumer electronics and industry-leading store experience here in Colorado."

The stores will remain open while they receive new signage and cosmetic updates. Ultimate Acquisitions Partners promises to continue "to deliver the same service, products, prices, deliveries, installation, and promotions. All SoundTrack warranties will automatically transfer to Ultimate Electronics."

CBGBs wins one round: The Manhattan nightclub CBGBs has been battling for its life, but it has won at least one court battle. A NY civil court judge ruled August 10 that the venerable nightclub cannot be evicted from its current location for "not noticing that it owed its landlord money."

The ruling concerned $100,000 in rent increases, finance charges, and fees that CBGBs claimed went unpaid because it was never billed for the money. The club's landlord, the Bowery Residents' Committee, claimed the charges were all outlined in the lease agreements.

Judge Joan Kenney praised the club's impact on a neighborhood embattled by "destitution, devastation, and drug abuse" back in 1972 when it opened its doors. She also called CBGBs a landmark, "a rare achievement for any commercial tenant in the ever diverse and competitive real estate market of New York City."

The nightclub may still have to move, since its lease is up at the end of August and its landlord would like to receive market value for the space it occupies. However, the Save CBGBs Coalition is striving to work things out so that the club can remain. One proposal includes finding a third-party guarantor for the monthly rent, as well as having the club host fund raisers for the Bowery Residents' Committee, which is a non-profit organization that provides comprehensive social services for "persons of limited resources," including the homeless, chemically dependent, psychiatrically disabled, aged, and persons with HIV/AIDS in metropolitan New York City.

Obviously, the best solution would be one that benefited both landlord and tenant.