Posted 5 years ago on Oct. 29, 2011, 6:58 p.m. EST by Devotto
This content is user submitted and not an official statement
If it's from Guitar Center, you might be paying more than just friends who work there. You might be helping Mitt Romney's 2012 GOP Presidential bid (among other things) This is not my idea of music's role in social change.
According to wikipedia, Guitar Center was acquired by Bain Capital in 2007:
(wikipedia ,under 'Guitar Center) :
On June 27, 2007, Guitar Center agreed to $1.9 billion buyout from Bain Capital, totaling $2.1 billion including debt. The deal was lead by Goldman Sachs & amounted to a per-share price of $63, or a 26% premium on the June 26 closing price. The deal was approved by shareholders on September 18, 2007, & closed October 9, 2007.
In mid 2009, Guitar Center opened a rehearsal studio facility in Woodland Hills, California. The eight studios with full backline range in size from 350-550 square feet.
Guitar Center also hosts annual events such as the Drum Off, King of the Blues, contests, and artist appearences throughout the nation.
If you then go to "Bain Capital" you get this principal leadership info:
Industry: Private asset management
Founder(s) Mitt Romney, T Coleman Andrews III, Eric Kriss
Headquarters: Boston, Mass, US, w offices in Chicago, New York, London, Tokyo, Hong Kong, Shanghai, & Mumbai
Key people: Joshua Berkenstein, John Connaughton, Paul Edgerley, Mark Nunnelly, Spephen Pagliuca
Products: Private equity, venture capital, public equity, high-yield assets & mezzanine capital funds
assets = ~ $ 65 billion
Employees: ~ 375 (December 2010)