Sam Goody's parent bankrupt

[sandi]

Sam Goody's parent bankrupt
Musicland Holding files for Chapter 11 due to increased retail competition, music downloads.
January 13, 2006: 11:26 AM EST


NEW YORK (CNNMoney.com) - Music retailer Musicland Holding Corp., which operates stores under the Sam Goody, Suncoast and MediaPlay names, said it has filed for Chapter 11 bankruptcy.

The company said Thursday the move is necessary to complete its restructuring plan and that it has received commitments for up to $75 million in financing, which will allow it to keep operating during the restructuring period.

"We have been exploring various options for cutting costs, such as the impending closure of the Media Play chain," Musicland President and CEO Michael J. Madden said in a statement.

"We believe that the decisive action we are taking provides the Company with the most effective means to restructure our operations, strengthen our balance sheet and position us to compete more effectively in the current music and movies industry environment."

The specialty music retailer, which operates more than 800 retail stores and online nationwide, said its financial problems stemmed from increased retail competition and a rise in music downloading.

Musicland said it expects the court to grant a request to keep honoring its current customer policies regarding merchandise returns and to honor outstanding gift cards and loyalty programs.

[rikki]

Ours was so crappy I hardly ever checked it out. Mall stores charge an extra $5 on every item, so f*ck'em.
The days of Record stores ripping people off is ending. $17.98 a CD is just too much when you can get it at AMAZON or BEST BUY for around $10.
I bought 8 cds off Amazon all for a total of about $22. They were all used and less than a year old. When I got them they weren't used at all, just the promo version with a drill hole, shrink wrap still on some of them.
Why should I pay extra just because that record store chose to locate itself in a Mall ? Serves them all right.

[Frank]

YEA THEY BLAME DOWNLOADING AS PART OF THEIR PROBLEM. BUT THEIR PRICING SHYS ME A WAY ALSO. "BUDGET LINE" OLDER CDS THAT THEY SELL FOR $14.99. I CAN ORDER TWO DIFFERENT TITLES OFF OF CD UNIVERSE FOR THE SAME PRICE PLUS SHIPPING & GET TWO CDS FOR THE PRICE I PAY AT ONE OF THESE STORES. PLUS ALL OF THESE STORES HAVE BECOME SO MAINSTREAM WITH WHAT THEY CARRY THAT IT'S HARD FOR ME TO FIND WHAT I WANT WHEN I GO IN THERE. SO I'D RATHER ORDER IT OFF THE INTERNET & WAIT A COUPLE DAYS & I GET WHAT I WANT FOR CHEAPER.

[HARD ROCK UNIVERSE]

All of those mall stores like Musicland and Sam Goody suck . Even Suncoast for videos sucks. Overpriced as hell and nothing besides the usual crap. Mediaplay used to be decent but they closed the one they had here years ago, so good riddance to them. I'd rather buy CD's and DVD's on the internet, better selection and better prices. If you look as Pickle said you can get 4 or 5 for around $20, plus shipping, and a lot of times they're brand new, so fuck em'. Wait a minute, I guess that makes me gay for buying online..but not as gay as HIM's vocalist ;D

[buttheadpe]

Actually our Sam Goody has new releases on sale for $11 - $12 the first week, but after that they go up. I do like FYE because they have a great selection and the prices are reasonable.

I worked at Sam Goody for about a year part time, and I got all of my CD's for $5 - $8 bucks each with my discount !

[nightrocker]

We use to have Where house music here in Dallas Fort Worth no more out of business high price put them out to,

[kim]

Ours was so crappy I hardly ever checked it out. Mall stores charge an extra $5 on every item, so f*ck'em.
The days of Record stores ripping people off is ending. $17.98 a CD is just too much when you can get it at AMAZON or BEST BUY for around $10.
I bought 8 cds off Amazon all for a total of about $22. They were all used and less than a year old. When I got them they weren't used at all, just the promo version with a drill hole, shrink wrap still on some of them.
Why should I pay extra just because that record store chose to locate itself in a Mall ? Serves them all right.

Bingo! and bang on Picklehead!!!!!!!!!!

Wait a minute, I guess that makes me gay for buying online..but not as gay as HIM's vocalist

hahahahahahahahahahahaha...it's amazing how one comment can spread itself over a number of replies. Good stuff Nightwatcher!

Pickle mentioned a good point. The days of $17.98 per album is ending. Include the fact that for some strange reason, we here in Canuckville still end up paying $23.99 a cd. Ohhhh, there are deals to be had. Especially on certain new releases that they want you to buy because they know damn well that you'll probably go home an download the sh*t for free...especially if you like rap or hip hop??

At the same time though, they think that they can suck in those of us of the older generation by offering a smattering of Beatles albums for the regular price of 23 to 27 bucks a pop.
The record companies, music execs and to a lesser degree, the artists should be ashamed of themselves. They've made their money...yet they continue to keep inflated prices on the classics that they assume we'll give into buying.

What this tells me is...that if I go into a music store and see the latest "hip-hop" album available for a steal at $13.97 in Walmart for example, I'm expected to think they are doing me a favour by offering a deal on the music of the day...yet expect me to pay $23.98 for "Abbey Road"...

What they are really telling me is this...We know the old music is far superior and if you want it firsthand, yer gonna have to pay for it! The record companies and execs alike are going to milk the sale of older music to the max...they aren't going to give it away...especially when they know where the purchasing power really lays.

I think Paul McCartney has enough residuals from the sale of Band On The Run...and have yet to see his name in the papers bitching about it otherwise? Groups like Metallica have made it an issue though in the recent past and rightfully so. They have yet to reach the same monetary heights as artists like McCartney...too bad for them...call it bad timing...shoulda cut your album in the 70's dudes!!!!!!!

It's funny, but I don't recall hearing anything about the Stones bitchin' and chewin' about the "downloading" thing??? Something tells me they are okay with it....more people listening to their stuff instead of having to pay through the nose for it as we all have had to do for years.

Also, what most of these dweebs do not realize is the fact that for every song downloaded...there were people like me that bought the same goddamn album 3 times over the course of 20 years because I had to keep up with the technology that released the stuff in the first place...Vinyl...8-Track...Cassette...CD...oops!!!!! sorry...that was 4 versions!!!!!!!!!!!!!!

If I do the math, I just sunk about $85.00 into Supertramps "Crime of The Century" album...DOH!!!

Perhaps the industry owes ME some money!!!...or at least a thank you letter for supporting the bastards over the last 30 years and buying their releases of the same album 3 times!!!!!!!!!!!!

The artist recorded it once, got their money and now the companies that release the stuff want more of your money the third or fourth time around??? What?...the condo in the Bahamas not paid for yet you greedy pricks???

If anything, the middle man needs to be eliminated. The next time any artist releases an album, they should be getting 2 dollars on the sale of their album instead of the token 2 cents that they seem to get now? To hell with the suits.

All hail the artists and piss on those that exploit their talents. We as fans don't exploit it, we simply listen to it, buy it and in a lot of cases, pass it on to those that we feel will feel the same whether it's through downloading it, burning it, or simply playing it for a friend when they come to visit! It's already been bought and paid for...we're just spreading the word.

On the other hand, if I copy a cd for personal use and give it to friend, unless I charge them a fee, I don't see where anyone loses money other than me??? I'm the one that bought the recordable cds from Sony in the first place?!!!! ARRRRGGGHHHHH!!!!!!! What did they expect me to do with the friggn things?...record my bowel movements in the key of G??

If there is a problem with this scenario, then heaven forbid you get caught whistling away to "Stairway To Heaven" because sure as sh*t, you're definitely breaking some form of copyright law! If someone tapes you while doing so...BANG!!! yer busted baby!!!!!!!!!!!!!!!!!!!!!!!!

Thanks
Kim

[Jesse]

Hey Picklehead, ever think about getting Kim to write a column for the website?

[Frank]

jesse said:

Hey Picklehead, ever think about getting Kim to write a column for the website?

SOUNDS LIKE A GOOD IDEA TO ME. I LOVE READING KIM'S POSTS. AND THIS ONE HAS TO BE ONE OF MY ALL TIME FAVORITES.

I'LL GET THE PAPER WORK STARTED.......

[Rush862]

I think this column should be on the main site...what do you all think!

[nightrocker]

Yeah Kim has some Great post..Make it so Pickelhead.. ;D