Archive for March, 2011

Will It Accept ValuePays? ShopNBC To Garner $48.3 Million From Stock Offering

March 30, 2011

ValueVision Media, better known as ShopNBC, has priced its stock offering and will be netting $48.3 million from the sale, according to documents filed Wednesday with federal regulators.

ShopNBC is offering 8.3 million shares of its common stock at $6.25 a share to the public.

In connection with the offering, ShopNBC has also granted to the underwriters a 30-day option to purchase up to 1.2 million additional shares of common stock from the home shopping network to cover any over-allotments.

Net proceeds from the offering are expected to be used to redeem the outstanding Series B preferred stock held by GE Capital Equity Investments, to the extent there are net proceeds remaining, for working capital and general corporate purposes, which may include capital expenditures.

The offering is expected to settle and close April 4, subject to customary closing conditions.

Piper Jaffray & Co. is acting as sole book-running manager, and Dougherty & Co. and Feltl and Company are acting as co-managers in the offering.

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ShopNBC, Sans Host Jim Skelton, Floats Stock Offering

March 30, 2011

ValueVision Media, better known as ShoopNBC, said Tuesday that it intends to offer shares of its common stock in an underwritten public offering pursuant to an effective shelf registration statement.

Net proceeds from the offering are expected to be used to redeem the outstanding Series B Preferred Stock held by GE Capital Equity Investments, and, to the extent there are net proceeds remaining, for working capital and general corporate purposes, which may include capital expenditures.

Piper Jaffray & Co. is acting as sole book-running manager, and Dougherty & Co. and Feltl and Co. are acting as co-managers in the offering.

The offering is being conducted pursuant to an effective shelf registration statement on file with the Securities and Exchange Commission.

ShopNBC’s Watch Geek Host Jim Skelton Is Gone, Did JTV Shed Married Hosts The Rookes?

March 29, 2011

One of our Facebook friends, Lisa, tipped us off today that ShopNBC watch geek Jim Skelton is no longer a part of that happy home shopping family in Minnesota.

We e-mailed ShopNBC marketing maven Anthony Giombetti to confirm this tidbit, and never got a response. So we checked and saw that Skelton’s photo was no longer posted on the No. 3 home shopping network’s host page on its website.

Then a quick glance at Skelton’s Facebook page confirmed the news.

“I have been the ‘Watch-Specific’ On-Air Host at ShopNBC since October of 2004 (wow how time flies),” he wrote on Facebook. “I have now left ShopNBC, March 2011.”

Here is something he must have posted in happier days.

“I am blessed in the fact that I am in a rare position where I can do what I truly love for a living,” he wrote. “I eat, sleep and breathe watches from morning to night and beyond. If I’m not on the air demonstrating watches, I am reasearching them, designing them, or photographing them.”

And for his Facebook photo, Skelton has posted an “off the air” on-screen billboard that TV stations usually put up when, no surprise, they are off the air.

And even though ShopNBC didn’t get back to us, they had posted this on their Facebook page: “We wanted to inform you that Jim Skelton is no longer with ShopNBC. We wish him success in his future endeavors.”

Anthony, you couldn’t have picked up the phone and told us that? The ShopNBC notice had sparked 60 comments when we looked, and most people were not happy.

We don’t know if this signals a change in ShopNBC’s strategy, because they have made a point of becoming the home shopping destination for higher-end watches, especially for men.

Our Facebook friend also said that Jewelry TV hosts Katie and Craig Rooke are gone, but we didn’t have time to check that out with the network’s honchos. But the Rookes are still listed on JTV’s website.

Emeril, $200 Is Too Much For Four HSN Steaks, Even If They’re Marbled

March 28, 2011

Is HSN the only one that doesn’t know this nation is in a recession?

Both HSN and QVC had cooking days all day Sunday, which kept us and our charge cards away.

But we checked HSN.com, and our mother cued us into this, and Cajun cook Emeril Lagasse, looking like an inflated balloon version of his old self, was on selling pricey meats.

$200 on HSN, from Emeril

Would you pay $200 for Emeril’s red marble 1.5 pound petite New York strip roast, which includes four 24 ounce petite New York strip roasts? That’s $50 a pop. What are they marbled with, 14 carat gold?

$100 for Emeril's sausages

How about $100 for 48 sausages?

Is Emeril trying to cast a voodoo spell on us, to “glamor” (Hi “True Blood” fans) us into thinking these are reasonable prices?

It’s not working.

N.J. Couple Goes To Prison After Cheating IRS To Spend More Than $280,000 On QVC, HSN And Jewelry TV

March 25, 2011

Some people are so addicted to home shopping networks that it’s a crime. Literally

We spotted a story about a Bridgewater, N.J., couple that was just sentenced to four years in prison for defrauding the IRS.

What did they do with the money? Well, they spent $280,000 on goods from QVC, HSN and Jewelry Television.

James and Theresa DeMuro last November were convicted of conspiracy to defraud the United States and willingly failing to pay over employment taxes. They owned and operated an engineering company called TAD Associates, which did business as DeMuro Associates.

From 2002 to 2008, the DeMuros withheld employment taxes from workers’ pay but did not fork over $546,000 in taxes due to the IRS. They also withheld money from their employee’s checks for health insurance and IRA accounts, but did not pay those funds into those things.

What they did do, we guess, is spend a quarter of a million dollars on the home shopping channels.

In addition to prison, the DeMuros have to make $1.3 million in restitution to the IRS.

There’s a lesson here somewhere. You figure it out.

But it’s another black eye for our Garden State, dang it.

Better Late Than Never: Christian Audigier Handbags Sold Well On ShopNBC — A Week Ago

March 25, 2011

ShopNBC got around Thursday to putting out a press release on another designer we’ve never heard of, Christian Audigier, having a successful handbag line on the No. 3 home shopping network.

That debut took place last week, which is when we wish ShopNBC had put out the press release on it.

The self-titled show series “Christian Audigier Handbags” premiered on ShopNBC during three one-hour blocks during March 16 and 17. The Christian Audigier debut also featured a smashing hit with viewers via ShopNBC’s “Today’s Top Value” offer.

Christian Audigier, after his car broke down outside of ShopNBC

Christian Audigier Rocks the Shop on ShopNBC Overall, the namesake collection, performed strongly, with several sellouts.

The Britt Grande Satchel sold out in six minutes. ShopNBC’s best value on the day of the premiere, the Christian Audigier Runway Collection, sold out one of three colors by 10 a.m and neared complete sellout at 4 p.m.

Here is the boilerplate on this designer we never heard of:

Christian Audigier is known worldwide as a fashion designer and successful entrepreneur. Best known for his Ed Hardy brand, Christian Audigier oversees several successful clothing brands and business ventures throughout the world. His namesake handbag line brings European style and a fresh California attitude to ShopNBC with unique and exclusive styles.

“I am excited about joining forces with ShopNBC to introduce my collection to a new avenue of fashion-conscious viewers,” Audigier said in a canned statement. “I’m confident that this partnership will give a broader audience greater insight and more access to my style and design.”

SHioNBC president Bob Ayd had his canned statement, too.

“We are thrilled with the successful launch of Christian Audigier Handbags on ShopNBC,” he said. “Christian’s handbags embody the Hollywood glamour and celebrity style that our customers crave. I’m pleased with how we were able to capture the passion of Christian and bring it to life for the customer in a way that delighted them while providing great value. We look forward to Christian returning in the future with an expanded product offering.”

Friday Is Easy-Pay Day On QVC

March 25, 2011

We don’t know what’s up, but QVC will be offering Easy Pay on more than 100,000 items Friday.

“Treat Yourself Day: 3 or More Easy Payments on Everything!” was the e-mail we got from QVC.

So if there is some pricey Affinity diamond bracelet, or an expensive Judith Ripka pendant you’ve been eyeing forever, Friday is the day to get it.

QVC Puts Its Japanese Network Back On The Air, Pledges $1.3 Million In Disaster Relief

March 24, 2011

We’ve been so busy at our day job, we’ve barely had time to breathe, let alone blog. But we saw some good news tonight when we were checking QVC.com.

There was a press release that said QVC Japan resumed broadcasting on a 24-hour live basis Wednesday at 10 a.m., local time.

In addition, QVC has pledged $1.3 million to support disaster relief, and has mobilized its operations globally to facilitate customer and employee donations.

“I would like to express our deepest sympathy to those people involved in the disaster,” QVC Japan CEO Chris Horobin said in a canned statement. “Having witnessed so many people’s energy, passion and bravery in response to the tragedy, I am confident that Japan will recover soon.”

Globally, QVC has now pledged a total of $1.3 million, including a $100,000 donation already made to the American Red Cross in the hours following the disaster March 11.

QVC Japan is exploring nonprofit organizations to receive these contributions to support the disaster relief efforts, according to the press release.

In addition, the first hour of QVC Japan programming was devoted to disaster relief, with certain proceeds generated from its sales made between 10 a.m. and 11 a.m., local time, pledged to the Japanese Red Cross. This contribution is in addition to the $1.3 million company pledge.

QVC is also encouraging employees and customers to support the Red Cross. QVC in the United States, United Kingdom, Germany and Italy has promoted Red Cross donation efforts on air, via company websites, and through social media outreach.

“Our hearts go out to the millions of people who were impacted by the major earthquake and tsunami that struck Japan,” QVC president and CEO Mike George said in his statement. “As a global company, we are committed to supporting the disaster relief efforts.”

QVC Japan has headquarter offices, studios and a customer-contact center in Makuhari, Chiba and a distribution center in Sakura, Chiba.

The Gastineau Girls And Carol Brodie Have At Least One Thing In Common: A Matte Onyx Beaded Bracelet

March 22, 2011

Last night Lisa and Britnny Gastineau debuted their Gastineau Glamour jewelry line on HSN, right after gem goddess Carol Brodie had presented her Rarities line.

The Gastineau Girls' matte onyx beaded bracelet

Carol Brodie's matte onyx beaded bracelet

Now is it just us, or did their matte onyx and CZ beaded bracelet have a striking resemblance to the black onyx and champaigne adjustable bracelet that Brodie introduced the hour before?

We’re just saying.

We love Brodie, but in this particular case that beaded bracelet didn’t seem quite so much of a rarity.

Hair, Hair: ShopNBC Brings In Peter Coppola

March 21, 2011

QVC has Chaz Dean. HSN has Oprah Winfrey’s hairdo guru Andre Walker and Sally Hershberger.

Now ShopNBC has hair stylist Peter Coppola, who is bringing a line of salon styling products to the No. 3 home shopping network. He debuts this Friday at 11 a.m.

Peter Coppola

Here’s the supposed twist with Coppola’s products: They feature the patented technology of CopaGen Complex TM. Formulated with keratin proteins found naturally in hair, CopaGen Complex TM allows the product to bond to hair instantly and effectively, or so ShopNBC tells us.

Here’s what it will supposedly do for you:

“Eliminates unmanageable frizz, curls and waves instantly!”

We could use that today.

“Gives you smooth hair while locking in volume, shine, and length for silky, full hair”

Yeah…

“Restore and renew hair strength, condition, color”

His products include: 4-piece CopaGen Smoothing System (C53300); Mudd Texture Balm (C53301); and the Myst Hairspray Duo (C53303).