Here is some info on Thomas (who was CEO of GC for 8 yrs)
Thomas began his career in 1971 with instrument wholesaler/importer Buegeleisen and Jacobson, Inc. He joined Guitar Center in 1977 as a salesperson, subsequently rising through increasingly responsible roles including store manager, regional manager, general manager, president and ultimately chairman and CEO. At Guitar Center, he played an integral role in the company’s continued growth, acquisitions and subsequent public offerings, and eventual status as the largest, most popular music chain in North America.
Thomas is a passionate music fan and advocate, an active lifelong musician, and participates on several music-related boards, including the Fender Music Foundation, USC Thornton School of Music, the American Music Conference and the California Music Project.
He seems to be a pretty accomplished businessman and musician. How is this bad news for FMIC again?