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Sweetwater Bought Out


jesse g

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Will things be the same at Sweetwater??
 

Posted: Aug 6, 2021 / 06:09 PM EDT / Updated: Aug 7, 2021 / 12:38 PM EDT

FORT WAYNE, Ind. (WANE) – The founder and CEO of Sweetwater Sound has announced that he is “stepping up” from his role.

In a letter to employees that was sent out two weeks ago, Chuck Surack announced that he is transitioning from his role as CEO and into the role of Chairman of the Sweetwater Board.

Chuck Surack

This comes just weeks after Sweetwater said that a firm out of Providence, Rhode Island is investing in the company. On Friday, Surack confirmed that Providence Equity Partners will now be the majority owner.

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Deja Vu!!!

I was actually in the Sweetwater parking lot last week. Finished my job in Fort Wayne early around 10 AM and figured I would check it out before tackling the four hour ride home. Stepped out of the vehicle and the phone rang, the boss with another job to do before going home.  Oh well, I work up there about four or five times a year so I will make it sometime. I've only been using Sweetwater a  few years and like them so far, hope they stay the same.

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16 hours ago, bdickens said:

I don't know but if I was working there, I'd be dusting off my resume....

The usual pattern for private equity is to cannibalize the acquisition for its assets and move on. My impression is that there is quite a bit of salable real estate in the company, so given the direction of retail sales in the past couple of decades it might make sense to divest from that at a quick profit, and with it the cost center of local employees and move all the merch online. None of that would be contradictory to opening a showroom at company headquarters, at least in the short run. In the long run, that function can be performed by any surviving brick and mortar instrument stores. Try it out at one of those stores with higher prices due to higher costs and then order online cheaper. Of course this assumes the private equity boys can sell it all to Amazon before even that model falls apart.

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12 hours ago, bdickens said:

I've been there & seen it happen.

Same here but I came to the conclusion I can let everything eat me alive or say ***** it, I'm 50 years old, I'm going to try to enjoy what little time I may have left.

There's nothing I can do to change anything other than simply try to help my family and neighbors and leave the planet a little cleaner than I found it. (I left out friends because I have none, at least locally. They're all in NJ and most have passed away.).

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6 minutes ago, Shane_B. said:

This is a pretty good video about the topic. Pretty much sums it all up imo.

 

The guy descibe the problem of capitalism , profit other anything but here's nothing wrong , but it's wrong lol ....

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13 minutes ago, Zo said:

Nothing capitalism with sweetwater , exept maybe interest rate but even doe they had zero interstet fees ..... capitalism is the exact opposit of american values , understand here that work and production of something bring something to sale , capitalism and rents are the exact opposit and something forbidenn from the old testament to even the coran / and bible  : money from money .... in any forms .... it leds us to the situation we're in today sadly , not only sweetwater ;)

People invests to get more money back , as simple as that ...problem even worst , actionnary makes fireing people a tools to warannty this or lower cost and quality , salaries type of contract ect .....  on paper it could be great , but in the end , as usual , no limit in the greed 

 

 

I don't want to argue with you, but you have no understanding of what capitalism is.

At it's most basic, it is nothing more than an economic system where the means of production are privately owned and operated for profit.

That profit can then be used in all kinds of ways, good or bad but neither is inherent in the system.

https://en.m.wikipedia.org/wiki/Capitalism

Edited by bdickens
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13 minutes ago, Shane_B. said:

Well there goes this thread. Sorry I posted the vid. LOL!

Sorry let me erase my posts ....

 

4 minutes ago, bdickens said:

 

 

I don't want to argue with you, but you have no understanding of what capitalism is.

At it's most basic, it is nothing more than an economic system where the means of production are privately owned and operated for profit.

 

https://en.m.wikipedia.org/wiki/Capitalism

I studied it , but i don't feel either the need and the capacity to dev in englshi , not my birth langage the concept .

Capital : is the key element to study , what is that concept ...

Second , we can judge a system by its impact , the latter one is more than enougth to figure out it's far from ideal ..... and it will leads to the very essences of it , if you don't see the connection bewteen this system and usury , sure what's coming up next will make no sens for you ... 

Let me erase my stuff and get back to subject ....;

Edited by Zo
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1 minute ago, Paul Young said:

Sweetwater was not about lower prices but service after the sale.  A people get older they start selling for less responsibility.  I wouldn't worry. If it regresses then those who made changes should be taken outside the city gate and stoned. (not with weed)

 

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