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The audio tribe is converging once again in Las Vegas for one of its its three annual gatherings (the others being CEDIA-Expo and the Home Entertainment Show, of course), and so far so good. Although the show officially opens Tuesday this year, several of the major manufacturers took advantage of the calm before the storm to hold their press conferences on Monday.

The slippery slope established by the Telecommunications Act of 1996 could soon get much slipperier. Three major media conglomerates have teamed up to pressure the Federal Communications Commission to drop the remaining restrictions on the ownership of broadcasting stations.

A year-end report by Nielsen SoundScanhttp://www.soundscan.com">SoundScan;, which tracks retail activity, states that compact disc sales through December 22, 2002, were off 9.3% compared to the same period the previous year, with 624.2 million units sold compared to 688.2 sold in 2001. Of all recorded music sold, 94% of it was on CD, the remainder on cassette tape and vinyl records. An insignificant amount of music was sold as legitimate downloads from industry-sponsored music sites. SoundScan did not expect the last week of December to impact the year's total.

Genesis Technologies, one of the audio industry's most respected names throughout the 1990s, has ceased operation and has filed for protection from creditors under Chapter 7 of US bankruptcy law. The company's website (www.gen-tech.com) has gone dark. Genesis was more than a million dollars in debt near the end, according to a source familiar with the situation, who spoke on condition of anonymity.

It's widely acknowledged that the American economy is in a downturn, but some economic indicators point otherwise.

Well known in the European audiophile community, British hi-fi manufacturer Cyrus">http://www.cyrusaudio.com">Cyrus Electronics is preparing for the introduction of its brand in America. The company says it plans to use the upcoming 2002 Consumer Electronics Show next month to scout out US dealers and introduce several new products.

XM">http://www.xmradio.com">XM Satellite Radio Holdings is now in a position to operate well into the fourth quarter of 2002, thanks to a $129 million stock offering underwritten by Morgan Stanley Company. XM made the announcement in a press release dated December 10.