Inside sources at Brinks Home Security say that the renaming of the company to Broadview Security was just a ploy to avoid filing Chapter 11 bankruptcy from its creditors. Sources also say that stockholders are not happy with this move, and will seriously devalue their stock.
As part of the rebranding, Broadview Security President and CEO Bob Allen will be ringing the opening bell at the New York Stock Exchange on Wednesday, July 1. The company will continue to use its "CFL" ticker symbol, which is said to stand for "Customers for Life."
?Our new name, Broadview Security, reflects the wide range of security services we offer and the active protection we provide to families and businesses,? said Allen. ?It represents our long-standing commitment to deliver peace of mind to our customers. Broadview Security provides a strong platform to continue our growth through the expansion of our security offerings.?
According to Dave Simon, Broadview Security's senior manager of public affairs, the company has taken a proactive stance to educating its customers about the name change.
This of course is not what customers have been reporting. Many customers plan to cancel their contracts in favor of a competitor that will be more interested in their needs, and not solely driven by a high profit margin. Brinks Home Security has clearly displayed lack of interest to customer care in their very short tenure in the alarm industry.