It's an effort to unionize one store, and its not the first time we've seen union saber-rattling against GC.
I was going to say... how would that work for stores located in right-to-work states (like mine)?
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It's an effort to unionize one store, and its not the first time we've seen union saber-rattling against GC.
I was going to say... how would that work for stores located in right-to-work states (like mine)?
No, because they are educated and skilled workers trained to do a specific job, not inexperienced part time unskilled retail employees.
In the interest of clarity......"right to work" means there is a law prohibiting the 'closed' union shop. In some states, there are workplaces where union membership is required as a condition of working there. In other states, union membership is (nearly) always optional to the worker. Those are called "right to work" states.
No, because they are educated and skilled workers trained to do a specific job, not inexperienced part time unskilled retail employees.
No, because they are educated and skilled workers trained to do a specific job, not inexperienced part time unskilled retail employees.
GC is just another victim of progress. When you have as much of the mega warehouse, mail order only competition as GC does it's a wonder they are still above ground. They could survive by closing all but one or two of their retail outlets and going head to head with the same business model as the Sweetwaters and Musicians Friends of the world, but if they try to maintain a huge string of retail outlets it's just a matter of time before we will be lamenting their demise.
The same thing is happening in the hobby industry. Local retail outlets for non essential consumer items are an outdated concept in the age of point, click, swipe, and sit by the mailbox.
Interesting, what about UPSers? Highly unionized, yet unskilled. Many are part time.
Retail and sales are not unskilled professions. To be good at it requires extensive knowledge of your products, your competitors products, and the general goings-on of your industry. It requires you to have the ability to express value to a consumer, to figure out what a consumer's exact needs and wants are so you can best service them, and it requires you to have good old fashioned people skills (which isn't something you can teach in school).
When you pay poor wages you can only attract and retain employees who do not possess the needed skills to be effective in such positions. As a result, we end up seeing 100s of new threads each month on music forums expressing disappointment in their shopping experience. There's a reason why sales professionals often command 6 digit salaries, and while I doubt we'd see such individuals on a GC's showroom floor there is no reason why GC couldn't up their pay and benefits a bit, hire better employees, lower their employee turnover rate, lower employee training costs, and provide better service to their customers. Heck, they might even be able to hire less part timers, more full timers, and begin to provide a sort of mom and pop feel to their stores that many consumers say they lack. They can build personal relationships with customers, and help turn the company's image (and profit margins) around.
Here's what's not clear to me. GC owes a lot of money, but to whom? If you consider GC, GC Holdings, and Bain Capital to be the same basic entity, then is this just a matter of them owing money to themselves? The interest payment may simply represent Bain sucking the blood out of GC before dumping the chain.
GC also owes a lot of money to Fender. I suspect that Fender and GC will go down together. Fender will always be a brand, but it might become a more specialized brand under new owners.
GC also owes a lot of money to Fender. I suspect that Fender and GC will go down together. Fender will always be a brand, but it might become a more specialized brand under new owners.
In the interest of clarity......"right to work" means there is a law prohibiting the 'closed' union shop...
And many still poorly paid and unhappy..........
Structuring equity infusions as debt is very common in the business world.
That's cool. But then, does a high level of "debt" necessarily mean that the company is doing poorly?
Here in Alabama it's called right to work but it would be better characterized as a right to fire at will state.
An employer can run you off if they got up on the wrong side of the bed or for no other reason than they don't care for the cut of your jib, and the state will back them to deny you if you apply for unemployment bennies or sue to get your job back.
If you have a legit sexual or racial bias suit, along with plenty of ironclad proof of same, you might have a good day in court. Otherwise you might as well just pick yourself up, wipe off the blood and start looking for a new job.
Something to think about....privately-held companies have little reason to show a profit.......profits equal taxes.