Guitar Center Sold?

cheyenne · Post by **cheyenne** » Wed Jun 27, 2007 4:57 am

Just caught this on the net:

http://www.chron.com/disp/story.mpl/ap/fn/4924233.html

Scastles · Post by **Scastles** » Wed Jun 27, 2007 5:49 am

If imaginable, GC will likely go from bad to worse with a private equity firm purchasing them.

Scastles · Post by **Scastles** » Wed Jun 27, 2007 5:49 am

Oops, double post.

squirebass · Post by **squirebass** » Wed Jun 27, 2007 6:14 am

Scott,
Do you live in Houston? That is where I'm from originally...

elysrand · Post by **elysrand** » Wed Jun 27, 2007 6:20 am

It IS hard to imagine, with the burnout rate, low pay, and high turnover rate of their tyro sales types, that it could do anything other than go from bad to worse

I have never had a good experience in a GC, except once when I talked directly to a veteran store manager who actually had some Clue....

mp_me · Post by **mp_me** » Wed Jun 27, 2007 6:33 am

I had one good GC experience....
I bought a Gibson J-100 for $900....
Other than that GC is good for cables and picks...

jdogric12 · Post by **jdogric12** » Wed Jun 27, 2007 6:47 am

Hey! Those cats just bought my company too. Hmmm... (hamster turning in wheel)

elysrand · Post by **elysrand** » Wed Jun 27, 2007 7:05 am

Oof - I hope you are on the right side of any Rightsizing that usually follows a M&A investment group's acquisition about six months down the road....(spin, spin)....

Scastles · Post by **Scastles** » Wed Jun 27, 2007 7:10 am

Obviously, for any company, profit is the name of the game. But equity firms try to take a P&L to another dimension. I worked for one for a while. Their whole intention was to minimize every facet of the companies overhead, diminish services and naturally, boost profits. Once a tidy profit increase has been accomplished, equity firms usually sell off an acquisition after three to five years. At least, this is what occurred with the folks I worked for, but who knows how this one might turn out. Equity firms are suddenly buying up an increasing number of publicly held companies.

sharkboy · Post by **sharkboy** » Wed Jun 27, 2007 7:11 am

Jdog, be sure to hurry up and get some grease for that wheel before they lock up the supplies and post a guard (this is what happened in some tech firms I have known.)

phlemmy · Post by **phlemmy** » Wed Jun 27, 2007 7:42 am

GC was good to me as I was in a band with 2 of their managers. Two years ago they had put up a 79 JG BT 4001 and started the auction at $1000 or so. I called my guitarist at the local store and he had the auction ended before any bids and had it shipped to Virginia so I could check it out. I walked out the door with the bass, a setup and a brand new case for $800, taxes incl. I feel like I stole it! I still have it.

jingle_jangle · Post by **jingle_jangle** » Wed Jun 27, 2007 7:44 am

Jdog, I thought you worked for Outback...

If so, we might a new concept in concepts: Steak 'N' Strings!

Or maybe Pork 'N' Pickups?

Or Shrimp 'N' Sounds?

Or Beef 'N' Bass?

Or...

firstbassman · Post by **firstbassman** » Wed Jun 27, 2007 8:16 am

That is interesting because there was talk that they would buy stock themselves and go private.

I guess they got a better offer.

As far as GC itself goes, there is probably no more favorite past time on the 'net than Guitar Center bashing.
I, on the other hand, have had great experiences with my local GC.
As is often advised, one needs to deal with only the managers (or at least the guitar section manager) and never talk to the pimply college kid.

Also, don't forget that GC, MF, M123, Woodwind, etc. are all one company. Should be interesting.

wj350 · Post by **wj350** » Wed Jun 27, 2007 8:37 am

I'm another one with pretty good GC experiences. They treated me very well on a mint used '59 RI Bassman and a new Casino.

lyle_from_minneapolis · Wed Jun 27, 2007 8:54 am

Does anyone think this could eventually patch up the non-relationship with a certain guitar making company we all know and love?