So I just found out that Guitar Center is owned by Romney's Bain Capital... [View All]

[eeyore]

How the hell did I miss this one? I've always hated and felt dirty shopping at Guitar Center, but this makes it even worse!

Guitar Center is literally the WalMart of music stores. They barely pay their employees, they make bulk purchasing deals so that local stores can't begin to compete against them, and price things so low that you'd be CRAAAAAAZY not to shop there.

There are times that they are the only store in town that has an item in stock, so rather than order from someone else I've just gone there. I've really gotta rethink my gotta have it now mentality.

What the fuck does Mitt Romney's investment group know about music gear????

Oy!

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Wed Jun 27, 2007 12:03pm EDT

NEW YORK (Reuters) - Guitar Center Inc. GTRC.O said on Wednesday it agreed to be acquired by private equity firm Bain Capital Partners LLC for about $1.9 billion plus assumed debt.

Under the terms of the deal, Guitar Center stockholders will receive $63 in cash per share, marking a 26-percent premium over its closing price on Tuesday, the musical instruments retailer said in a statement.


http://www.reuters.com/article/ousiv/idUSBNG22972720070627