lenny
Well-known member
i was checking out the ol intraweb this morning and came across this!
Guitar Center agrees to $1.9B buyout - Yahoo! News
Guitar Center agrees to $1.9B buyout - Yahoo! News
- Thread starter lenny
- Start date
Big Poppa
Well-known member
I think that this is great for the industry. GC will no longer have Wall streets pressure to grow by quarter and they can strengthen the stores they have and the related infrastructure before re embarking on an expansion strategy.
Plus management stays intact.
Plus management stays intact.
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lenny
Well-known member
I agree and thats why i posted it ...being a private company you have much more control thats for sure and not only that but our fav Guitar/String Company is also Privately held!! BP is the board!
adouglas
Well-known member
Last year I got to meet Dr. Amar Bose and hear him speak about the company. He talked about why it's still private...and the reasons stated already are exactly why.
He said "if we had to perform every quarter I would have been fired decades ago and we'd never have had the opportunity to develop the products we've created." Bose development takes years...the Quiet Comfort headphones were first conceived in 1979!
The funny part is how he decided to go in that direction. All of his contemporaries from MIT were starting up companies at about the same time (Acoustic Research, etc.). He visited all of them and asked a simple question: "If you had to do it again, what would you do differently?" Every one of them said the same thing: "I would not have gone public."
He said "if we had to perform every quarter I would have been fired decades ago and we'd never have had the opportunity to develop the products we've created." Bose development takes years...the Quiet Comfort headphones were first conceived in 1979!
The funny part is how he decided to go in that direction. All of his contemporaries from MIT were starting up companies at about the same time (Acoustic Research, etc.). He visited all of them and asked a simple question: "If you had to do it again, what would you do differently?" Every one of them said the same thing: "I would not have gone public."
kbaim
Well-known member
Me too...oh wait
Glad the management is staying on.
Marty and Phil, if you read this, congratulations.
Sterling, thanks for convincing me to get to Dallas.
I'm sending you a little something...that you'll probably end up throwing away.
ernie1966
Well-known member
- Joined
- Dec 12, 2002
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Norrin Radd
Well-known member
Good luck to them!
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beej
Moderator
Congratulations all around. Definitely positive that it's going private and a huge win for GC.
Addy, Bose corporate HQ is like 15 minutes from my house and place of work. I hear it's a great place to work at and have a few friends that work there.
Good for GC, I agree with you BP and others on this, it can only help them to become what they seem to be striving for.
Glenn |B)
bovinehost
Administrator
Crap!
I saw Guitar Center was up on eBay last night and I kept thinking, "Hmm, I should really put a bid in on this", but then there was something about Paris Hilton on E and I got distracted and forgot to bid.
Ah well, another Guitar Center will come up for bid, I'm sure, but I liked the color of this one a lot.
Jack
I saw Guitar Center was up on eBay last night and I kept thinking, "Hmm, I should really put a bid in on this", but then there was something about Paris Hilton on E and I got distracted and forgot to bid.
Ah well, another Guitar Center will come up for bid, I'm sure, but I liked the color of this one a lot.
Jack
adouglas
Well-known member
I think Chuck's looking for a left-handed Guitar Center. Keep an eye out, okay?
Thanks.
Thanks.
Big Poppa
Well-known member
None of this means much to me unless it also entails that the staff does not continue to turn over every 6 weeks.
Last time I was at GC, an employee of 14 years had to get manager approval to sell me an item below GLP. Come on GC - get with it!
Norrin? Hello?
First you complain that the turnover is too high and then you complain about an employee of 14 years?
You need to just move on We all know you used to work there.
From my perspective 1 year of 14 years there have to be certain controls...especially with so many locations and employees.
Your frowny face telling a 2 billion dollar company to get with it is funny. So is your contradiction.
I will make sure that you get the opportunity for CEO when Marty retires.
Norrin Radd
Well-known member
Okay. I could use a good job.
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kbaim
Well-known member
Just got back from lunch with the manager of the GC near me. Nice guy. Went to Fuddruckers, a gourmet hamburger joint. We celebrated!!! I had a hamburger and water, he had a burger fries and a soda. Got a guitar on order with him.
Ernie...still holding it. Prolly sell before tender.
I think Norrin makes good points, but it's awfully hard to make suggestions, even great ones, without sounding like complaining. But for those employess that have remained with the company and participated in profit sharing and stock purchase discounts, etc...I'm pretty sure they're all quite happy today.
Got a guitar on order with him.Ernie...still holding it. Prolly sell before tender.
I think Norrin makes good points, but it's awfully hard to make suggestions, even great ones, without sounding like complaining. But for those employess that have remained with the company and participated in profit sharing and stock purchase discounts, etc...I'm pretty sure they're all quite happy today.
NickDuBaldo
Well-known member
Sterling, thanks for convincing me to get to Dallas.
I'm sending you a little something...that you'll probably end up throwing away.
Is it one of these??
I can see him now... "Come to my office, let's have a chat." <pop, pop, pop>
... back on topic.
There are ups and downs to the public/private sectors, but I think that based on the growth of GC, they can do better without the common stock worries.
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mesaboogieman
Well-known member
i almost bought shares last week. i'm kicking myself today.
I bet it's another copy of my CD.Me too...oh wait
I'm sending you a little something...that you'll probably end up throwing away.
Before you throw it away try it as a coaster.
BTW I am reading the forum on my powerbook in a car going 70!
I'm such a GeeK!
Back to the thread...
Big Poppa
Well-known member
Norrin
A 2 billion dollar with dept of 200 million? Where is the rub?
We just finished a thread about what you could do if you could change one thing with GC. This was a thread about the sale and not that your salesman of 14 years cannot act as a free agent when it comes to pricing. Turn over is the bain of all companies especially in entry level retail. Marty adressed this fully in Dallas.
Your thread was poorly thought out and a bit of a hijack.
A 2 billion dollar with dept of 200 million? Where is the rub?
We just finished a thread about what you could do if you could change one thing with GC. This was a thread about the sale and not that your salesman of 14 years cannot act as a free agent when it comes to pricing. Turn over is the bain of all companies especially in entry level retail. Marty adressed this fully in Dallas.
Your thread was poorly thought out and a bit of a hijack.
