Several weeks ago, we <A HREF="http://www.stereophile.com/news/10211/">reported</A&gt; on the revival of McCormack Audio by Bill Conrad and Lew Johnson, who purchased the company's assets at an auction in Southern California. This past week, McCormack Audio has announced that one of the original co-founders, Steve McCormack, has rejoined the company as Director of Research and Development. McCormack had worked at the company from its inception in 1982 until 1996.

Some optimists in Washington, on Wall Street, and elsewhere predicted that the Asian economic crisis wouldn't reach the United States. But in late August, the financial flu infecting that part of the world, and the ongoing monetary instability in Russia, finally affected North America. As of Friday, August 28th, the <A HREF="http://www.dowjones.com/">Dow Jones</A> Industrial Average was hovering just above 8000, down from a record high of 9337.97 on July 17th. The market decline has affected the whole economy---traditional industries as well as hot-ticket ventures like Internet stocks.

A few years ago, when media pundits began discussing the possible ramifications of 500 channels of television, the concept of "narrowcasting" quickly became the buzzword <I>du jour.</I> The idea was that programming in the future would be aimed at increasingly better-defined markets. Rather than an all-sports channel, an astute broadcaster would operate multiple channels devoted to individual sports: an all-basketball channel, for example, or round-the-clock motor sports. Advertising tailored for a tightly defined market might prove more efficient than its shotgun-effect equivalent.

I think I've finally figured out the secret of <I>Stereophile</I>'s success. You, cherished reader, <I>don't</I> read this mag because it's chock full o' reviews of tantalizing audio gear (even though it is). And you <I>don't</I> read this mag because JA and RL strive so hard to keep the literary quotient as hi as the fi (even though they do). And I <I>know</I> you don't read this mag cuz trusting yer own sensory input is a mighty scary proposition indeed so you look to <I>Stereophile</I> as to a Holy Bible that eases your Earthly burden by <I>telling you</I>, Ah say Ah say TAILING YEW what to buy (do you?).

I think I've finally figured out the secret of <I>Stereophile</I>'s success. You, cherished reader, <I>don't</I> read this mag because it's chock full o' reviews of tantalizing audio gear (even though it is). And you <I>don't</I> read this mag because JA and RL strive so hard to keep the literary quotient as hi as the fi (even though they do). And I <I>know</I> you don't read this mag cuz trusting yer own sensory input is a mighty scary proposition indeed so you look to <I>Stereophile</I> as to a Holy Bible that eases your Earthly burden by <I>telling you</I>, Ah say Ah say TAILING YEW what to buy (do you?).

I think I've finally figured out the secret of <I>Stereophile</I>'s success. You, cherished reader, <I>don't</I> read this mag because it's chock full o' reviews of tantalizing audio gear (even though it is). And you <I>don't</I> read this mag because JA and RL strive so hard to keep the literary quotient as hi as the fi (even though they do). And I <I>know</I> you don't read this mag cuz trusting yer own sensory input is a mighty scary proposition indeed so you look to <I>Stereophile</I> as to a Holy Bible that eases your Earthly burden by <I>telling you</I>, Ah say Ah say TAILING YEW what to buy (do you?).

I think I've finally figured out the secret of <I>Stereophile</I>'s success. You, cherished reader, <I>don't</I> read this mag because it's chock full o' reviews of tantalizing audio gear (even though it is). And you <I>don't</I> read this mag because JA and RL strive so hard to keep the literary quotient as hi as the fi (even though they do). And I <I>know</I> you don't read this mag cuz trusting yer own sensory input is a mighty scary proposition indeed so you look to <I>Stereophile</I> as to a Holy Bible that eases your Earthly burden by <I>telling you</I>, Ah say Ah say TAILING YEW what to buy (do you?).

I think I've finally figured out the secret of <I>Stereophile</I>'s success. You, cherished reader, <I>don't</I> read this mag because it's chock full o' reviews of tantalizing audio gear (even though it is). And you <I>don't</I> read this mag because JA and RL strive so hard to keep the literary quotient as hi as the fi (even though they do). And I <I>know</I> you don't read this mag cuz trusting yer own sensory input is a mighty scary proposition indeed so you look to <I>Stereophile</I> as to a Holy Bible that eases your Earthly burden by <I>telling you</I>, Ah say Ah say TAILING YEW what to buy (do you?).

I think I've finally figured out the secret of <I>Stereophile</I>'s success. You, cherished reader, <I>don't</I> read this mag because it's chock full o' reviews of tantalizing audio gear (even though it is). And you <I>don't</I> read this mag because JA and RL strive so hard to keep the literary quotient as hi as the fi (even though they do). And I <I>know</I> you don't read this mag cuz trusting yer own sensory input is a mighty scary proposition indeed so you look to <I>Stereophile</I> as to a Holy Bible that eases your Earthly burden by <I>telling you</I>, Ah say Ah say TAILING YEW what to buy (do you?).

In this age of $70,000-plus "flagship" designs, perhaps $25k is no longer an obscene amount to pay for a pair of loudspeakers. Still, it's <I>mucho dinero</I>. What makes a speaker worth this kind of bread? Does the product's intrinsic value really warrant such a lofty cost, or is it merely a matter of pricing at what the market will bear? The answers to these questions requires careful examination of not only the speaker, but also of the buyer's own soul, priorities, and pocketbook.