By Lisa Johnston
New products on display at the American International Toy Fair, held in N
IASCA said its assets have been purchased by Paul Papadeas, founder of the Spring Break Nationals, who will serve as the new head of the sound off organization.
Papadeas, who is also president of Soundcrafters in Daytona Beach, Fla., has signed a letter of intent to purchase the company, said a spokesman. Papadeas is expected to move IASCA headquarters here and to form a new staff and "a new panel of advisors to affect a turnaround," according to a prepared release.
Papadeas said he purchased IASCA to help save the organization and improve it. IASCA has reportedly been suffering from financial and organizational difficulties.
"Now that it's privatized, decisions can be made, where before ideas would get lost at the board level and never come to fruition. You had volunteers running it who had other commitments," he explained.
Papadeas added that IASCA will retain its mission to serve retailers and manufacturers and that a key goal will be to improve IASCA's presence in the West Coast.
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