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Author Topic: Possible GC PSAV partnership?  (Read 2308 times)

RYAN LOUDMUSIC JENKINS

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Possible GC PSAV partnership?
« on: November 07, 2013, 10:20:12 am »

http://www.reuters.com/article/2013/10/23/us-psav-sale-idUSBRE99M1EB20131023

How long would it take for Bain to leverage PSAV into bankruptcy, causing all of their vendors to take massive losses which would in turn raise the prices to us to make up for the losses while PSAV would end up with all of those products and services for the cost of in house attorneys rather than actually having to pay real money for it.

This is NOT good for our industry.
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Tim McCulloch

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Re: Possible GC PSAV partnership?
« Reply #1 on: November 07, 2013, 01:02:06 pm »

The reason for this:  GC is losing money and PSAV makes money (they bought out Swank AV last year).

I agree this is a bad, bad deal.
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RYAN LOUDMUSIC JENKINS

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Re: Possible GC PSAV partnership?
« Reply #2 on: November 07, 2013, 07:01:07 pm »

The reason for this:  GC is losing money and PSAV makes money (they bought out Swank AV last year).

I agree this is a bad, bad deal.

GC is ONLY losing money because of the extremely high dept bourdon placed on them by Bain Capital and their way of doing business.  While I don't know facts first hand, a buddy of mine who is a very long time employee of GC told me that GC had almost zero debt when Bain Capital bought them.
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Caleb Dick

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Re: Possible GC PSAV partnership?
« Reply #3 on: November 07, 2013, 08:44:59 pm »

GC is ONLY losing money because of the extremely high dept bourdon placed on them by Bain Capital and their way of doing business.  While I don't know facts first hand, a buddy of mine who is a very long time employee of GC told me that GC had almost zero debt when Bain Capital bought them.

I'd be surprised if GC's only, or even primary, problem is Bain.  Survival of the fittest.   "Let's get rich by being cheap!". 
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Justice C. Bigler

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Re: Possible GC PSAV partnership?
« Reply #4 on: November 07, 2013, 10:35:32 pm »

Survival of the fittest.   "Let's get rich by being cheap!".

Hey, it Worked for Uli Behringer.
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Tim McCulloch

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Re: Possible GC PSAV partnership?
« Reply #5 on: November 08, 2013, 09:31:20 am »

I'd be surprised if GC's only, or even primary, problem is Bain.  Survival of the fittest.   "Let's get rich by being cheap!".

We lose 10% on every widget, but we'll make up for it in volume. ;)
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Lee Buckalew

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Re: Possible GC PSAV partnership?
« Reply #6 on: November 08, 2013, 12:10:06 pm »

GC is ONLY losing money because of the extremely high dept bourdon placed on them by Bain Capital and their way of doing business.  While I don't know facts first hand, a buddy of mine who is a very long time employee of GC told me that GC had almost zero debt when Bain Capital bought them.

I personally know of two projects that GCPro bid FAR under cost in a number of areas just to attempt to drive competitors out of business.  They were doing this on many projects from what I had heard in an attempt to have short term losses function in their favor by driving out the competition.
I guess it didn't work.

Lee
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John Roberts {JR}

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Re: Possible GC PSAV partnership?
« Reply #7 on: November 08, 2013, 12:52:53 pm »

http://www.reuters.com/article/2013/10/23/us-psav-sale-idUSBRE99M1EB20131023

How long would it take for Bain to leverage PSAV into bankruptcy, causing all of their vendors to take massive losses which would in turn raise the prices to us to make up for the losses while PSAV would end up with all of those products and services for the cost of in house attorneys rather than actually having to pay real money for it.

This is NOT good for our industry.
I'm not sure what GC has to do with this.

PSAV having 45% market share sounds good for them but bad for customers and competition. Deep pockets getting involved may look to increase market share with more acquisitions and then take advantage of near monopoly by raising prices where they can get away with it. Of course there will be winners and losers.

JR
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RYAN LOUDMUSIC JENKINS

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Re: Possible GC PSAV partnership?
« Reply #8 on: November 08, 2013, 02:50:54 pm »

I'm not sure what GC has to do with this.


JR

Bain Capital owns GC.
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Jordan Wolf

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Re: Possible GC PSAV partnership?
« Reply #9 on: November 12, 2013, 07:39:14 am »

http://www.reuters.com/article/2013/10/23/us-psav-sale-idUSBRE99M1EB20131023

How long would it take for Bain to leverage PSAV into bankruptcy, causing all of their vendors to take massive losses which would in turn raise the prices to us to make up for the losses while PSAV would end up with all of those products and services for the cost of in house attorneys rather than actually having to pay real money for it.

This is NOT good for our industry.
I'm not familiar with Bain or it's past dealings with other companies, but am certainly interested in the outcome, as I am employed by PSAV.  All of these dealings are above my pay grade, and I wish I knew more, but I guess I'll just have to spectate along with everyone else.
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"We want our sound to go into the soul of the audience, and see if it can awaken some little thing in their minds... Cause there are so many sleeping people." - Jimi Hendrix
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