Private Equity firms and our consumer culture

[slow roasted]

Folks,

After seeing a quite dead thread about GC pricing revived, it occurred to me that maybe it's time to explore another aspect of what has been going on in music retail lately, namely private equity and other financial entities getting into the game.

I have to tell you upfront that I work in a non related service sector, and my company was bought out by a PEF and the results have been less than satisfying for most folks involved, with the exception of the PEF. I am not a fan, to say the least.

That said, I believe we are witnessing some of the same problems at the big enchilada, and it doesn't end at "the haggle", or lack thereof. The biggest problem I have at these stores is service, or the lack thereof.

The days of dealing with one or two guys who can answer all of my questions, and cater to my needs, however crazy, are certainly over now. At least in a local, walk in fashion.

This really makes me feel less than connected/ loyal to these folks than ever.


Which leads me to the only point, I really want to make in this really kind of late to the party post. And that is:

Thank God for Ernie Ball / Music Man!

If I find a bass I like at the big box, fine. I'm done. I'm covered in case something goes awry.

If I don't find the bass I like, I can order it. Again, I am covered. I will get what I payed for, and if not, it will be rectified. Promptly.

I have a company in EBMM that has my back. And a product that I have no reservations using or recommending.

And even though I'm not a big fan of GC, or really any big box store, the folks at EBMM sure appear to be working thier asses off to present deals like thier current GC clearance pieces, and I just wanted to point out that on top of cutting edge design and customer service, it's obvious to me they are working EVERY angle they can to help us out in any way they can.

A hearty thank you from this working stiff, folks!!!

 

[Big Poppa]

Thanks. I get about five calls from private equity firms and I'm not interested

 

[dedmouse]

here here! My sentiments exactly...I own a number of basses from a number of companies and even certified by one of these companies as an electronics tech and I have yet to find the customer service that EBMM seems to have.

I am a new owner of an MM (well, new to me, bought it used but it's still practically brand new, a 2010 model) and I KNOW if I have a problem, EBMM won't let me down...I understand it might not be a free fix as I am not the original owner but I get the feeling after having spent a little bit of time on this forum that I made a good choice and that they have my back as well...not many companies have the time of day for you or you get lost in the corporate maze trying to get answers...even if the store you bought it at wont help you, EBMM always will.

I am so impressed with their service and their basses that I am considering buying a 5 stringer in the not too distant future in addition to my four banger...

 

[bovinehost]

Thanks. I get about five calls from private equity firms and I'm not interested

Whew.

 

[Holdsg]

What happens when suits start running the show. Sucks all the innovation out of it.

Fender after CBS.
Tobias after Gibson.
ESPN after Disney.

Lots of examples. Very few companies can maintain the pace of innovation once financial types start running things. I can think of maybe one huge company that bucks that trend-Apple.

Let's hope BP continues to shun the big payday/liquidity event and keeps EBMM just as it is.

 

[oli@bass]

The main problem with the business world of today is that it's all about "doing business to make money" instead of "doing something to make something useful". People don't do what they like to do or what they're good at, but "make money" in order to able to "afford do what they like to do".

Odd. Isn't it.

That said, I love my job. I think I'm even good at it. And it allows me to buy beautiful stuff from other people who are good at what they're doing... (instead of buying whatever is the cheapest product that covers the need)

 

[Mabongohogany]

Hmmmm, nothing like generalizations I guess....

Yes, I hope Sterling won't sell EBMM to General Mills (doubt it)
but all this about "the suits" bla bla bla..."

And as far as I'm concerned:

Fender has some nice stuff after CBS
My Gibson Tobias Renegade is a fantastic bass

Don't watch much Disney I guess, so can't comment there.

Just my .02 thas all!

 

[b-unit]

I am so happy with not only the product but the entire mindset of the folks at EBMM that I have no reservations ordering a bass sight unseen and its true, their customer service is outstanding.

 

[slow roasted]

Hmmmm, nothing like generalizations I guess....

Yes, I hope Sterling won't sell EBMM to General Mills (doubt it)
but all this about "the suits" bla bla bla..."

I think maybe most of us in the States are frustrated, and the "suits" are an easy target. After the financial meltdown, it's dawning on many people that the world is changing in some unsettling ways. I like to think that most Americans will rise to the challenge as we always have. Provided Sterling doesn't sell his company to 3M....he-he....

And as far as I'm concerned:

Fender has some nice stuff after CBS
My Gibson Tobias Renegade is a fantastic bass

Agreed. I have some killer CBS pieces in my collection. It's an ill wind ....

Don't watch much Disney I guess, so can't comment there.

I have young children, I'm exposed to so much Disney, that I dream about talking mice.....

Just my .02 thas all!

That's what I like about this joint, everyone can submit an opinion and get along. Unlike many other music related boards out there...

 

[Oldtoe]

That's what I like about this joint, everyone can submit an opinion and get along. Unlike many other music related boards out there...

Well, I can't stand you people, frankly.

 

[OldSchool Noob]

Hmmmm, nothing like generalizations I guess....

Yes, I hope Sterling won't sell EBMM to General Mills (doubt it)
but all this about "the suits" bla bla bla..."

And as far as I'm concerned:

Fender has some nice stuff after CBS
My Gibson Tobias Renegade is a fantastic bass

Don't watch much Disney I guess, so can't comment there.

Just my .02 thas all!

+1

There are a bunch of different business models out there and none are inherently "Bad" ... its about the people that run the businesses and their intentions, dedication & skillsets. I happen to do business with a number of companies owned by PEF's and some are excellent at what they do and they have full support of the financiers.

It's a big world out here with all kinds of people and companies in it.

 

[slow roasted]

+1

There are a bunch of different business models out there and none are inherently "Bad" ... its about the people that run the businesses and their intentions, dedication & skillsets. I happen to do business with a number of companies owned by PEF's and some are excellent at what they do and they have full support of the financiers.

It's a big world out here with all kinds of people and companies in it.

Agreed. An inherently bad business model these days is dead in the water.

My issue is when some company comes in and gets out the "Don't worry, everything is going to remain the same" spiel, right from the get go. I've been exposed to this with every PEF I have had contact with.

Horse hockey. Nothing is ever going to be the same again. In the music retail front they made one bad move after another. ALL of the career salesmen I used to deal with are gone. Replaced by what? Clerks? No, not always. There are a few that are working hard, and really trying to turn this into something positive.

But the vast majority are incompetent. From the sales staff to the General Managers. The ONLY area I have seen improvement in is in operations. They really have stepped it up there, and deserve some credit for doing so.

I know this sounds like a rant. And it certainly is. I'm sad, because I think I just witnessed the end of an era. And time and a place when I could connect with other musicians in a retail venue in a way that seems to be evaporating forever.

Luckily, we have forums like these to take over where it has left off.

 

[five7]

Donald trump for president.

 

[Holdsg]

Luckily, we have forums like these to take over where it has left off.

+1 very good point. Especially since at an MI retailer, they really don't encourage you to just hang out and talk gear/stuff/music. Oh you can do it, but you won't get anyone really to take you seriously (cuz we're all too old, remember, see earlier posts re the GC experience). These forums are a great collective "water cooler" and have saved me from making many mistakes on gear purchases.

 

[jasper383]

+1

There are a bunch of different business models out there and none are inherently "Bad" ... its about the people that run the businesses and their intentions, dedication & skillsets. I happen to do business with a number of companies owned by PEF's and some are excellent at what they do and they have full support of the financiers.

It's a big world out here with all kinds of people and companies in it.

+1

The career salespeople in the local shops around here are mostly asshats who couldn't care less about you, unless it looks like you might drop $2k in their store.