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Sweetwater Music bought by a Private Equity Firm| Founder & CEO just stepped down, next GC?
Old 2 weeks ago | Show parent
  #421
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KevWind's Avatar
 
🎧 15 years
Quote:
Originally Posted by DJElectricDaddy ➡️
That’s a very naive view of post-modern capitalism. The ‘growing company’ metric is not number of employees, but net profit dollars and cents. You can grow one whilst reducing the other. I’ll let you do the math. It’s hardly a rare occurrence.
Actually that is a sweeping and overly generalized view and arguably the more naive view in the context of this thread and this buyout, and even the overall picture of PE firm buyouts . Because it is based primarily on Publicly Traded company dynamics and or what has happened in a number of highly publicized situations where PE's bought out Publicly Traded companies that were already showing a decline in profit or revenue and while Yes ,,, it did in fact result in cuts in employment . But it is actually not the case in most Private Equity buyouts of Private Companies, especially companies that were already increasing in profit (which is the case in this thread ), in which case employment also grew more often than not .

https://www.capmktsreg.org/2020/07/2...vity-and-jobs/
Old 2 weeks ago | Show parent
  #422
Gear Guru
 
kennybro's Avatar
 
3 Reviews written
🎧 10 years
Quote:
Originally Posted by jiffybox ➡️
And all of it is delicious except for the peppermint star brites. Guess which one I get at a typical ratio of 14 to 1, or thereabouts…
I once pulled a crown with one of their Bit-o-Honeys. I didn't send them the dental bill. I figured "personal responsibility."
Old 2 weeks ago
  #423
Lives for gear
 
🎧 5 years
Two DPA 4099 Core, for acoustic guitars at a live event, arrived from Sweetwater a week ago, there was candy.
Old 1 week ago | Show parent
  #424
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PdotDdot's Avatar
 
1 Review written
🎧 10 years
Quote:
Originally Posted by DJElectricDaddy ➡️
That’s a very naive view of post-modern capitalism. The ‘growing company’ metric is not number of employees, but net profit dollars and cents. You can grow one whilst reducing the other. I’ll let you do the math. It’s hardly a rare occurrence.
This.....!

I have spent my entire career working for large corporations and every time there was any sort of takeover or major shift in management, jobs were cut. Jobs are ALWAYS the first thing to go and it is usually the folks that do the work rather than the inept pencil pushers that are managers and directors.

That said - I will step back and wait to see how this change impacts Sweetwater. Speculation is fine but it also means nothing. What transpires is what matters.

I am lucky in the sense I pared down my gear as I am nearing retirement and have learned that "stuff" becomes more of an albatross. My goal is to not bring things home anymore. I will likely make an occasional purchase from Sweetwater but I do not see myself being impacted much regardless of the impact to their business and processes. There are other options if and when I need to make a purchase so if Sweetwater goes down the drain, it won't matter much to me.
Old 1 week ago | Show parent
  #425
<Moderator Msg>

Capitalism and discussion of Politics are not allowed on Gearspace.

Thx
Old 1 week ago | Show parent
  #426
Gear Guru
 
🎧 15 years
Quote:
Originally Posted by kennybro ➡️
I once pulled a crown with one of their Bit-o-Honeys. I didn't send them the dental bill. I figured "personal responsibility."
or preexisting condition!

I once saw Drew Carey on a talk show and he was talking about a heart attack he had. In the ambulance on the way to the hospital, he said his only thought was "maybe I shouldn't have had the Cheesy Bread"
Old 1 week ago
  #427
Gear Guru
 
Sorry to hear that happened Kenny.
Chris
Old 1 week ago | Show parent
  #428
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jiffybox's Avatar
Quote:
Originally Posted by kennybro ➡️
I once pulled a crown with one of their Bit-o-Honeys. I didn't send them the dental bill. I figured "personal responsibility."
Sweetwater Bit-O-Honeys are always stale. Always.
Old 1 week ago | Show parent
  #429
Gear Addict
 
ChuyLocs602's Avatar
 
🎧 5 years
Quote:
Originally Posted by jiffybox ➡️
Sweetwater Bit-O-Honeys are always stale. Always.
and i, personally still always eat them
Old 1 week ago
  #430
Lives for gear
 
🎧 10 years
I don't understand Bit-O-Honey. I don't know what it is, I think it's caulk, it's fvckin horrible.
Old 1 week ago | Show parent
  #431
Gear Head
 
🎧 5 years
Quote:
Originally Posted by ChuyLocs602 ➡️
and i, personally still always eat them

Quote:
Originally Posted by ljefe ➡️
I don't understand Bit-O-Honey. I don't know what it is, I think it's caulk, it's fvckin horrible.
Old 1 week ago | Show parent
  #432
Gear Addict
 
drsaamah's Avatar
 
🎧 5 years
Quote:
Originally Posted by Synth Guru ➡️
<Moderator Msg>

Capitalism and discussion of Politics are not allowed on Gearspace.

Thx
This rule is getting increasingly inconvenient. How can the topic of this thread possibly be apolitical?
Old 1 week ago | Show parent
  #433
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KevWind's Avatar
 
🎧 15 years
Quote:
Originally Posted by drsaamah ➡️
This rule is getting increasingly inconvenient. How can the topic of this thread possibly be apolitical?
Very easy,,, stick to the business economics and history of PE acquisitions.
Resorting to political arguments or comments , simply represents a lack of ability to offer a "substantive" comment, on the economics of the situation....

Economically it's pretty simple,,,, 80% of the time PE acquisitions work and benefit the company and the employees ,,,, 20 % of the time (which is a high number ) they don't,,,, and when they fail it tends to be quite spectacular and gets a lot of publicity ... The rest is just subjective and speculative nonsense
Old 1 week ago | Show parent
  #434
Quote:
Originally Posted by drsaamah ➡️
This rule is getting increasingly inconvenient. How can the topic of this thread possibly be apolitical?
To quote Skunk Anansie:
“Yes it’s ****ing political, everything’s political”
Old 1 week ago | Show parent
  #435
Gear Guru
 
🎧 15 years
Quote:
Originally Posted by jiffybox ➡️
Sweetwater Bit-O-Honeys are always stale. Always.
Wait.

Are you trying to say that there exists a "state" of Bit-O-Honeys where they are not as hard as a rock? How do you obtain these?
Highjack the truck just as it is leaving the factory? Get a job there?

Quote:
Originally Posted by ChuyLocs602 ➡️
and i, personally still always eat them
I always wondered - do you really "eat" something if you are just basically dissolving it? I would never "bite" or "chew" a Bit-O-Honey any more than I would bite or chew a Sugar Daddy. But its not a liquid so you can't "drink" it.

Quote:
Originally Posted by drsaamah ➡️
This rule is getting increasingly inconvenient. How can the topic of this thread possibly be apolitical?
I agree, the staleness of Bit-O-Honeys is a direct outgrowth of the Capitalist exploitation of the masses.
Old 1 week ago | Show parent
  #436
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kennybro's Avatar
 
3 Reviews written
🎧 10 years
Quote:
Originally Posted by joeq ➡️
I always wondered - do you really "eat" something if you are just basically dissolving it? I would never "bite" or "chew" a Bit-O-Honey any more than I would bite or chew a Sugar Daddy. But its not a liquid so you can't "drink" it.
Fourth state of matter...
Solid, Liquid, Gas, Bit-O-Honey.

Quote:
Originally Posted by joeq ➡️
I agree, the staleness of Bit-O-Honeys is a direct outgrowth of the Capitalist exploitation of the masses.
The Spangler acquisition is to blame for this.
Old 1 week ago | Show parent
  #437
Lives for gear
 
64gtoboy's Avatar
Quote:
Originally Posted by joeq ➡️
Wait.

Are you trying to say that there exists a "state" of Bit-O-Honeys where they are not as hard as a rock? How do you obtain these?
Highjack the truck just as it is leaving the factory? Get a job there?


I always wondered - do you really "eat" something if you are just basically dissolving it? I would never "bite" or "chew" a Bit-O-Honey any more than I would bite or chew a Sugar Daddy. But its not a liquid so you can't "drink" it.


I agree, the staleness of Bit-O-Honeys is a direct outgrowth of the Capitalist exploitation of the masses.
I found them inedible until I started getting them in packages off my doorstep that averages ~120 Deg F during the summer. Nice and squishy thanks to South Texas climate!
My problem is I like to crunch the Fireballs, and my teeth aren't that good anymore.
Old 1 week ago | Show parent
  #438
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KevWind's Avatar
 
🎧 15 years
Quote:
Originally Posted by joeq ➡️
I agree, the staleness of Bit-O-Honeys is a direct outgrowth of the Capitalist exploitation of the masses.
Na ,,,, it is a conspiracy of deep state dentists
Old 1 week ago | Show parent
  #439
Gear Addict
 
drsaamah's Avatar
 
🎧 5 years
Quote:
Originally Posted by KevWind ➡️
Very easy,,, stick to the business economics and history of PE acquisitions.
Resorting to political arguments or comments , simply represents a lack of ability to offer a "substantive" comment, on the economics of the situation....

Economically it's pretty simple,,,, 80% of the time PE acquisitions work and benefit the company and the employees ,,,, 20 % of the time (which is a high number ) they don't,,,, and when they fail it tends to be quite spectacular and gets a lot of publicity ... The rest is just subjective and speculative nonsense
I don't disagree with you per se... It's just that I think the line between politics and economics is *very* thin, to say the least.
Old 1 week ago | Show parent
  #440
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KevWind's Avatar
 
🎧 15 years
Quote:
Originally Posted by drsaamah ➡️
I don't disagree with you per se... It's just that I think the line between politics and economics is *very* thin, to say the least.
Well no question politics can influence what happens in an economy ..BUT besides being against forum policy , it is also a different discussion.
Because politics has nothing to with,,,whether or not, serving the business bottom line in this specific PE buyout situation, will result in things like a degradation of service, or employee cuts, or dismantling and selling off the company.
Old 2 days ago
  #441
Lives for gear
 
🎧 15 years
Quote:
There is a store in London called "Duke of Uke", but I think they may carry a few guitars as well….
There are ukulele stores all over Hawaii as well. I’ve also seen a macadamia-nut-and-ukulele store and a furniture-and-ukulele store, and both stores sold relatively high-end ($1.5K+ ukes) to boot.

Quote:
Also...it's not really a store. You can't actually buy anything there. It's a showroom, to let you come and try before you buy. You still have to place your order online. You can buy T-shirts and so on, but don't go there expecting to try out a new synth and take it home with you.
What gave you that idea? You absolutely can go in and purchase something right in the store, and take it with you (as long as it’s in stock).
Old 2 days ago | Show parent
  #442
Gear Addict
 
drsaamah's Avatar
 
🎧 5 years
Quote:
Originally Posted by KevWind ➡️
Well no question politics can influence what happens in an economy ..BUT besides being against forum policy , it is also a different discussion.
Because politics has nothing to with,,,whether or not, serving the business bottom line in this specific PE buyout situation, will result in things like a degradation of service, or employee cuts, or dismantling and selling off the company.
its important to note that economics can also influence politics. which makes it the same discussion. Whether or not it is in the economic interests of this Providence to even serve the bottom line depends on politics and the way tax law, bankruptcy laws, etc are structured in this country. I outlined earlier how many PEs will cut costs, including labor and customer experience, after riddling the company with debt they took against the value of the company. The cash they borrowed goes into their pockets, costs at the business have to be cut to make "goodwill effort" at paying the debt, and then they file for bankruptcy.
I am not saying that will necessarily happen with Providence and Sweetwater, but that is the discussion we are having. Whether or not we believe things will remain the same in terms of customer experience and employee compensation or if the value of the company and quick gain is all Providence is looking for.
Old 1 day ago | Show parent
  #443
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KevWind's Avatar
 
🎧 15 years
Quote:
Originally Posted by drsaamah ➡️
its important to note that economics can also influence politics. which makes it the same discussion. Whether or not it is in the economic interests of this Providence to even serve the bottom line depends on politics and the way tax law, bankruptcy laws, etc are structured in this country.
No statute only obliquely and marginally factors into the post mortem actions once the company is no longer deemed profitable and so the primary factors in how a PE handles the situation are revenue and profitability or lack thereof. Economics not politics ..

Don't misunderstand I am guessing I probably agree with much of your perspective on the lack of viable regulation on business merger and tax structure .......
BUT
It is only your totally subjective notion that (you think ) you must drag politics into a discussion about whether or not a PE will,,, or is likely to dismantle a company Which again depends economics ...


Quote:
I outlined earlier how many PEs will cut costs, including labor and customer experience, after riddling the company with debt they took against the value of the company. The cash they borrowed goes into their pockets, costs at the business have to be cut to make "goodwill effort" at paying the debt, and then they file for bankruptcy.
Not sure what your number was in " outlined earlier how many PEs will cut costs," But again the figure is 20 % of time,,,, and almost exclusively with publicly traded companies already in debt.. 80 % of time the companies (especially private profitable companies ) thrive and grow under PE investment ....


Quote:
I am not saying that will necessarily happen with Providence and Sweetwater, but that is the discussion we are having. Whether or not we believe things will remain the same in terms of customer experience and employee compensation or if the value of the company and quick gain is all Providence is looking for.
Yes what we believe is the discussion...... I don't believe politics primarily factors into the realities of how PE's handle companies, and I know it does not "have to be" intrinsic in the discussion

Last edited by KevWind; 1 day ago at 07:05 PM..
Old 1 day ago | Show parent
  #444
Gear Maniac
 
[QUOTE=KevWind;15686124]
Quote:
But again the figure is 20 % of time,,,, and almost exclusively with publicly traded companies already in debt.. 80 % of time the companies (especially private profitable companies ) thrive and grow under PE investment ....
Do you have a source for this statistic or is it just your opinion?
Old 1 day ago | Show parent
  #445
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KevWind's Avatar
 
🎧 15 years
Quote:
Originally Posted by sean8877 ➡️

Do you have a source for this statistic or is it just your opinion?
Not my opinion I read it some where, different studies show different numbers but if I remember correctly the numbers have between 80/20 at the high end and 70/30 on the low end on buyouts of private companies. If your actually interested you can probably google it

I think people may not be differentiating between buyouts of public and private firms in their blanket assessments of PE in general

Last edited by KevWind; 1 day ago at 07:03 PM..
Old 1 day ago | Show parent
  #446
Gear Maniac
 
[QUOTE=KevWind;15686406]
Quote:
Originally Posted by sean8877 ➡️

Not my opinion I read it some where, different studies show different numbers but if I remember correctly the numbers have between 80/20 at the high end and 70/30 on the low end on buyouts of private companies. If your actually interested you can probably google it

I think people may not be differentiating between buyouts of public and private firms in their blanket assessments of PE in general
I'm always wary of "facts" stated on internet forums with no reliable source to back them up.
Old 1 day ago | Show parent
  #447
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loujudson's Avatar
 
2 Reviews written
🎧 10 years
[QUOTE=sean8877;15686464]
Quote:
Originally Posted by KevWind ➡️

I'm always wary of "facts" stated on internet forums with no reliable source to back them up.
Not Sean's opinion, but somebody else's. Not a fact at all until referenced. :-)
Old 1 day ago | Show parent
  #448
Gear Maniac
 
[QUOTE=loujudson;15686513]
Quote:
Originally Posted by sean8877 ➡️

Not Sean's opinion, but somebody else's. Not a fact at all until referenced. :-)
That wasn't actually my post that was quoted it was Kevwind's but it somehow put my name over the quote. But I agree with you completely.
Old 1 day ago | Show parent
  #449
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KevWind's Avatar
 
🎧 15 years
Quote:
Originally Posted by sean8877 ➡️

I'm always wary of "facts" stated on internet forums with no reliable source to back them up.
As well you should be, none the less the the % figures were not my opinion, they were my memory of having read a couple articles on some studies about it And I already referenced one study in post #421 ( I think it was the one with the 70/30 % ratio )


Ya for some reason the quote function is malfunctioning double quoting and placing the person replying as being person "originally posted" ,,,,,,, I had to go in and delete the secondary quote in this reply to get it show correctly .

For example in your next to last post it says "
"Originally Posted by sean8877 ➡️." "Not my opinion I read it some where, different studies show different numbers but if I remember correctly the numbers have between 80/20 at the high end and 70/30 on the low end on buyouts of private companies. If your actually interested you can probably google it

I think people may not be differentiating between buyouts of public and private firms in their blanket assessments of PE in general".--------- which is my reply not your quote
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