CMS Author Craig Vecchione Posted August 4, 2014 Author CMS Author Share Posted August 4, 2014 Well when I walk into GC on a Saturday its always busy in my area. This seems to be a common theme in retailers they grow like a weed until like Circuit City the management and Wall St. milk them and load them up with debt to sustain unsustainable growth. I feel sorry for the GC employees who mostly are part time musicians. My opinion: GC's first mistake was expanding beyond their ability to grow market share. When the market began to sink, GC amassed debt, and when they were sold the buyers took on way more debt than is possible to overcome. Rather than reorganize, they did the new thing and simply keep plodding along, shifting the debt to new devices as if the piper won't come calling. Why would anyone buy an insolvent company? Because when the numbers are big enough, the buyers can still make a lot of money for themselves. In the old days this was referred to as "skimming". This flies directly in the face of corporate stewardship...the board of a public corporation is charged with increasing shareholder value. There's also a responsibility to the employess...you know, the people who actually make it possible for the corporation to exist at all. But time after time, they're the first to go. Link to comment Share on other sites More sharing options...
Members Telecruiser Posted August 4, 2014 Members Share Posted August 4, 2014 Just want to point out that GC made the break, not Behringer. GC most likely made the break because Behringer would no longer go along with their credit terms. It is well known that GC owes a lot of vendors a lot of money. I would not be surprised if Behringer has a lawsuit in the works to try to recover at least some of what it is owed by GC. I wish them luck. JMHO Link to comment Share on other sites More sharing options...
CMS Author Craig Vecchione Posted August 5, 2014 Author CMS Author Share Posted August 5, 2014 GC most likely made the break because Behringer would no longer go along with their credit terms. JMHO Remember when you were a kid and there was always one friend who would rant and rave if things weren't done exactly as he wanted them? He'd make up the rules as he went, then not follow them anyway. Eventually you'd all get tired of it and not invite him to play. Link to comment Share on other sites More sharing options...
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