Members sahlomonic Posted December 8, 2012 Members Share Posted December 8, 2012 First off, ignore the site this article is on http://thetoneking.com/wp/life-support-how-long-until-they-pull-the-plug-on-guitar-center/ First, you need to know that that $2 billion figure is not just GC Link to comment Share on other sites More sharing options...
Members Macelind Posted December 8, 2012 Members Share Posted December 8, 2012 Who gives a flaming fart? This site goes down and there will always be another forum to piss time away. It won't be quite the same but if most of the community is there, it will be just as entertaining. Link to comment Share on other sites More sharing options...
Members this is paul Posted December 8, 2012 Members Share Posted December 8, 2012 Who gives a flaming fart? This site goes down and there will always be another forum to piss time away. It won't be quite the same but if most of the community is there, it will be just as entertaining. +1 I thought it was common knowledge that they owned this site Link to comment Share on other sites More sharing options...
Members Ron Burgandy Posted December 8, 2012 Members Share Posted December 8, 2012 It's sad to see Bain pillaging companies like this. 150 or so Bain employees benefit while thousands of families lost pensions, GC ran small shops out of business and Bain sold GC down the river by signing them up for 10% interest loans they can never repay. All the while undercutting everyone out of business. They ruined the entire industry. Hopefully small family companies can rise from the ashes and companies like Sweetwater become the dominant market players. Link to comment Share on other sites More sharing options...
Members Ovid9 Posted December 8, 2012 Members Share Posted December 8, 2012 Damn, I knew things were bad, but didn't realize it was that bad there. Ouch. Link to comment Share on other sites More sharing options...
Members Snappy Hat Posted December 8, 2012 Members Share Posted December 8, 2012 Then I go stay on Fenders sites, until they go under. Link to comment Share on other sites More sharing options...
Members Dolf Posted December 8, 2012 Members Share Posted December 8, 2012 Liquidation sale? Link to comment Share on other sites More sharing options...
Members JR13 Posted December 8, 2012 Members Share Posted December 8, 2012 if GC/MF goes down, i wonder how that will impact major guitar companies who get a lot of their sales through them. Link to comment Share on other sites More sharing options...
Members Dolf Posted December 8, 2012 Members Share Posted December 8, 2012 if GC/MF goes down, i wonder how that will impact major guitar companies who get a lot of their sales through them. See, the avenues for those guys are still firmly in place. I don't think the big boys will hurt much if at all Link to comment Share on other sites More sharing options...
Members sahlomonic Posted December 8, 2012 Author Members Share Posted December 8, 2012 It's sad to see Bain pillaging companies like this. 150 or so Bain employees benefit while thousands of families lost pensions, GC ran small shops out of business and Bain sold GC down the river by signing them up for 10% interest loans they can never repay. All the while undercutting everyone out of business. They ruined the entire industry.Hopefully small family companies can rise from the ashes and companies like Sweetwater become the dominant market players. I'm certainly hoping for this, as GC has shut down damn near every ma & pa shop since they opened in KC; just a couple remain that I'm aware of. Mars Music opened up in '99 and a lot of small shops seemed to survive them, until GC came along around '06 or so. Link to comment Share on other sites More sharing options...
Members Ron Burgandy Posted December 8, 2012 Members Share Posted December 8, 2012 See, the avenues for those guys are still firmly in place. I don't think the big boys will hurt much if at all What avenues? Where will Gibson dump their rejects? Think of the Gibson, man Link to comment Share on other sites More sharing options...
Members this is paul Posted December 8, 2012 Members Share Posted December 8, 2012 Damn, I knew things were bad, but didn't realize it was that bad there. Ouch. Yea, +1. Sounds brutal Link to comment Share on other sites More sharing options...
Members Ovid9 Posted December 8, 2012 Members Share Posted December 8, 2012 This does help explain why my local one carries such a {censored}ty selection of amp inventory though. Link to comment Share on other sites More sharing options...
Members Pepi Posted December 8, 2012 Members Share Posted December 8, 2012 Can't blame this one on Obama Link to comment Share on other sites More sharing options...
Members SteveiJobzz Posted December 8, 2012 Members Share Posted December 8, 2012 I doubt that, if GC goes down, it'll take MF with it. Some investor will probably buy the GC and MF brands from Bain for pennies and just get rid of the brick and mortar stores, effectively ending the GC name. Musicians Friend is too large to just liquidate and I have a feeling that THAT branch is fairly profitable, since there is little overhead compared to a GC store. Still an epically {censored}ty situation. Link to comment Share on other sites More sharing options...
Members mamberg Posted December 8, 2012 Members Share Posted December 8, 2012 Can't blame this one on Obama why not? Link to comment Share on other sites More sharing options...
Members paul88lx Posted December 8, 2012 Members Share Posted December 8, 2012 Venture Capitalism. How does it work? Link to comment Share on other sites More sharing options...
Members jds22 Posted December 8, 2012 Members Share Posted December 8, 2012 Hmmm, I've always wanted to own a music store. Maybe the time will be right in the next few years. Link to comment Share on other sites More sharing options...
Members paul88lx Posted December 8, 2012 Members Share Posted December 8, 2012 First Hostess, now Guitar Center? {censored}ing union scumbags. Link to comment Share on other sites More sharing options...
Members ~Abstract~ Posted December 8, 2012 Members Share Posted December 8, 2012 why not? Cause it was Mitt Romney. Link to comment Share on other sites More sharing options...
Members Ron Burgandy Posted December 8, 2012 Members Share Posted December 8, 2012 Venture Capitalism. How does it work? bain is not a venture capital group. they are a private equity fund focused on leveraged buyouts. Link to comment Share on other sites More sharing options...
Members diddlybo Posted December 8, 2012 Members Share Posted December 8, 2012 GC going out of business? Aww {censored}...where will I go now when I want to shop for Gibson robot guitars? Link to comment Share on other sites More sharing options...
Members Norton666 Posted December 8, 2012 Members Share Posted December 8, 2012 See, the avenues for those guys are still firmly in place. I don't think the big boys will hurt much if at all I think you're wrong man. GC / MF make up a HUGE percentage of the big guys ( Gibson , Fender etc) annual sales. A few years back when Bain first bought GC and restructured all their debt , it changed the whole face of Fender. Just the past due amount that GC owed them was enough to make Fender restructure their entire business model. Think about how many mom and pop shops still have a wall of Gibsons , very few. If they close (which they won't) it will change everything as we know it when it comes to gear Link to comment Share on other sites More sharing options...
Members paul88lx Posted December 8, 2012 Members Share Posted December 8, 2012 I think you're wrong man. GC / MF make up a HUGE percentage of the big guys ( Gibson , Fender etc) annual sales. A few years back when Bain first bought GC and restructured all their debt , it changed the whole face of Fender. Just the past due amount that GC owed them was enough to make Fender restructure their entire business model. Think about how many mom and pop shops still have a wall of Gibsons , very few. If they close (which they won't) it will change everything as we know it when it comes to gear I know it will be a tough transition/adjustment period for stores and builders. But I do, cynically, hope they go belly up. I hate seeing my local music stores struggle under the purchasing power of GC. They seem to have all major brands on contracual lockdown. Leaving the Mom and Pop stores struggling with less desirable brands. Link to comment Share on other sites More sharing options...
Members Norton666 Posted December 8, 2012 Members Share Posted December 8, 2012 I know it will be a tough transition/adjustment period for stores and builders. But I do, cynically, hope they go belly up. I hate seeing my local music stores struggle under the purchasing power of GC. They seem to have all major brands on contracual lockdown. Leaving the Mom and Pop stores struggling with less desirable brands. GC doesn't have anyone contractual lockdown , but because they buy so much product , they basically determine what MAP pricing is going to be and it makes it very hard for small shops to compete with those prices , so the small shops choose not to carry that line Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.