Doom for Guitar Center and Gibson?

[Mycroft]

Originally Posted by cooper59

By the way circuit city is still in business

Actually they went out of business in 2009, so your statement is factually incorrect.l A new business is being launched under the brand name.

[personatech]

Originally Posted by Truckjohn

Absolutely right on here.

Nobody holding the bag on any of that debt wants to see them go under... Bankruptcy = all the creditors lose... And that primarily means Martin, Taylor, Gibson, Yamaha, and Fender....

I think what we are really seeing is the painful reality of how so many companies are coming through the recession... The hard part about this is that while unemployment has been going down for a couple years now - there is still a huge segment of the economy that is "under-employed".. Aka experienced people stuck in low wage jobs because good jobs still aren't available..

And that means the classic group which would have been dropping money steadily into music (kids through their 30's) don't have money to do that because they are stuck in $8/hr jobs...

One place it has really hurt is that nobody knows how to play instruments and sing - because everybody is working a ton of overtime and has no time to learn instruments.. For example - many many churches have gone to playing instrument accompaniment "tracks" on CD's for their worship music because nobody in the place knows how to play music on actual instruments...

Underemployment, true, and (for young college-graduate professionals) student debt. I bought my first bass fresh out of college (yep, I started on bass). Were I carrying $20K student loan debt (in 1978 dollars), that most probably would not have happened.