Private equity firm Bain Capital has just bought out Guitar Center (including the online retailer Musicians Friend) for $2.1 billion. Guitar Center is one of the leading retailers of musical instruments in the U.S. Stockholders will get $63.00 in cash for each share of Guitar Center common stock they own.
Private equity firms are big news in the U.K. at the moment, by offsetting any profits with overseas debts they are getting away with paying little or no taxes. A house of commons committee put it to one private equity boss that he was pay less tax than his office cleaning lady!
How far is your nearest guitar shop? Is the lack of local shops driving you to buy over the internet, or to make trips to the big city to get your guitar gear? We have generated a map of the US guitar shops in the guitar-list database, to show how the guitar shops are distributed among states. You can explore the map at this link. If your favourite shop is not listed here, then why not register at guitar-list and add it yourself. Shops from all countries are welcome.
OLGA (On-line Guitar Archive) a venerable library of guitar and bass tablature has been shut down. It has been around for years, used by a generation of learner guitar players. OLGA has been taken down by legal action twice before, in 1996 and 1998, but recovered. This time it looks serious, the site has been down for a few months already.