indie1031.punkrockdemo.com

This article is in loving memory of Tower Records, the beloved child of Russ Solomon and a boatload of shareholders, which died at age 46 last weekend from severe bankruptcy complications.

Reuters reports that following a 29-hour auction on Friday, most of the bankrupt chain's assets were sold to liquidation firm Great American Group for $134.3 million (outbidding Trans World Entertainment by $500,000). Tower's website, 33rd Street label, and real estate holdings were sold separately.

Great American was on track to begin the liquidation process and kick off going-out-of-business sales last Saturday.

Tower, which operated 89 U.S. stores, will leave Virgin Megastores (with 20 shops) the most prominent "deep-catalog retailer" in the country, according to Reuters.

Tower's demise doesn't come as a shock-- the company filed for Chapter 11 bankruptcy protection in both February 2004 and August of this year (word is they owed close to $200 million)-- but the retailer's closing might mean bad news for its vendors. According to Reuters, the sell-off of its inventory, especially that contained in its merchandise-packed Sacramento warehouse, could harm businesses affiliated with Tower's indie distro company, Bayside Distribution, when their product is returned for wholesale cost.

Tower Records was founded in 1960 out of Solomon's father's Sacramento pharmacy. Solomon, a 15% shareholder, did not enter a bid for the company.

According to Reuters, on Friday, an e-mail Solomon sent to his staff read, "The fat lady has sung ... she was was off key. Thank You, Thank You, Thank You." That day, employees held a barbecue at the company's West Sacramento headquarters. ABC.go.com reports that some 3,000 workers are expected to lose their jobs as a result of its closing.

That sucks. I like Tower records. I know they have been in trouble for a while though. Damn internet.

Maybe we will see a resurgence of the indie record shops.

Glenn wrote:That sucks. I like Tower records. I know they have been in trouble for a while though. Damn internet.

Maybe we will see a resurgence of the indie record shops.

would be nice, but I doubt it.

The indie shops are much more fun to shop in..the people actually TALK to you,unlike them chains like Tower and HMV and Sam the Record Man where they treat you like your buying condoms and tampons Fuck the large chains...fuck em till they die

Those fucks at those chains have over priced, rip off product and the people are knobs....you ask for PiL say say"eh?"...you ask for Pigface and they smirk and show you the Nickelback section....losers

The NON Kid aka Himself and I went to the Tower in Brea....it seems that six companies made blind bids...one company wanted to save Tower...the other five wanted to liquidate...you can guess who won, eh?

Anyway....the guy at Tower said...rather cryptically, I might add...to come back in FIVE DAYS.....

yeah Maddie...fuck em all...and a big fuckn'suck to the music industry...they can kiss my stinkystick and bag o'nuts...sick of all this,thisss shit. Hey Madds...lets make music and sell it for $2.99 and have concerts for $3.99.....sounds fun..pack em in and jerk em off! Aaaahahahaaaaaa

fuck Tower...

Buy your music from the indie shops,the record labels and at the concerts..makes it such a personal experience like a dope deal.....aaahaha

excelent Rotter
Im agree
fuck industry music

Well, looks like there is 3000 people with tatoos & piercings looking for work.

thats progress Glenn...maybe they'll become musicians

ChispaFilthyLucre wrote:excelent Rotter
Im agree
fuck industry music

yeah.....fuck em...they make too much money and rip the artists off....all except those "trendy" acts that are boring fucks like brittney and U2 and avril and......oh the list is too long;i must go and think and take a huge shit and clear my emotions

I dunno, I feel bad for these people when they loose their jobs. I doubt they get any severence, probably just let go with their final check.

I went to the Tower in Anaheim and the staff where pretty cool to me. I had no problems. They certainly are not the worst chain.

I do prefer the indie stores but there are none around. All out of business for years.

AAAArrrrrrggggg!!!!...mateys...nowI dont feel so bad for having me
3000+ mp3z collection.....AAARRRRHHHH!!!!!

wait that'snot the same is it....oh well nevermind

The smart ones will start their own shops.

The Rizen shloemoe wrote:AAAArrrrrrggggg!!!!...mateys...nowI dont feel so bad for having me
3000+ mp3z collection.....AAARRRRHHHH!!!!!

wait that'snot the same is it....oh well nevermind

hehehe...lets all download and destroy the industry...spread the word...

a cd = 20 euros
fuck off FNAC

good bye rich over paid musicains...goodbye music industry...aaaaaahahahah.....ahahahahhahahahaha...thats the way, fuck em...download and boycott em all,all the big labels....support the indie and your local starving artist

ChispaFilthyLucre wrote:a cd = 20 euros
fuck off FNAC

rip off.....its 20-30 bucks for big name SHIT here......some smart guys charge 10-12 bucks which is fair.....down with CraPital records,die CBS and all the cunts in between.....hit the floor and do the rattle for rotty.

They aren't getting severance, Glenn-O...that was one of my first questions to Mr. Cryptic....

As the parent of a teenager....who tried for over a year to find a job before being hired where he is now...It saddens me to see so many high school and college students out of jobs...


Regarding Indie stores....I usually stop at Black Hole Records before buying anything at Tower for a couple of reasons:

1. I know the owner, Bill. He gets me what I want. Like the time my brother wanted a 10cc CD. Bill ordered it and I sent it on to my brother. It was a happy-happy win-win situation.
2. I like supporting the scene
3. His wife has a kick ass vintage store in the same shop and Himself or I always find something we like.

Everything thats popular in music must die...kill it then bury it.I think U2 should retire and all them boring stinkin money munchin ass kissin musical acts that tell us how much they love us.....aaaaaahahaha.....liars.....you love my coin,don't fake suck me off anymore.

a million download cannot be mistaken
deeeeestroy!!!!

well thats too fuckin bad for the newly unemployed...my job is hangin by a thread and you don't see anyone boohooin about that,do you........FUCK OFF! life goes on

ChispaFilthyLucre wrote:a million download cannot be mistaken
deeeeestroy!!!!

Thats right Chispa......dessssssssstrooyyyyyyyyy

the title of this thread

RIP Tower Records

or

Piss on Your Grave Tower Records.

I'd smear shit on their tombstone...

You know...I've simply had ENOUGH of those shops...the cunts that shop in them and the industry ripping people off.It should be destroyed.....it should feel the pain of ripping off talented,hardworking working class life.I HATE what they produce.....I HATE being ripped off and I fucking HATE the music today.....its fuckkkkkkkkkinggggggg fake angst and fake plastic anger in a fuckin pink bow wrapped package of dogshit.

rotter wrote:The smart ones will start their own shops.

Hopefully in Anaheim.

Those cunt music asskissers,the industry bag sucks...get all they want and hoard every fuckin nickel they rip you off with baked bean music...its lame,its drivel,it makes me tired...its all the same and them cunts are cash pussys.....and they NEVER invest into other talent,just themselves...its true.They are greedy and soul-less.Fuck the top 20 and the mirrored image thats coming after them.I HATE em all...

ordinarly I'd be having a field day right now...but i still dont
feel too good....you go rotman!!!

i liked tower...
too bad for us

black hole records in fullerton IS cool
i went there when Gidge suggested it before..
it does have a cool vintage store connected and the people are nice

that is where i will go from now on

if i won the lottery i would open a little empire record store and be jack black in high fidelity

yep
that is what i would do...

jr wrote:i liked tower...
too bad for us

black hole records in fullerton IS cool
i went there when Gidge suggested it before..
it does have a cool vintage store connected and the people are nice

that is where i will go from now on

if i won the lottery i would open a little empire record store and be jack black in high fidelity

yep
that is what i would do...

I'd open "Empire Records" from "Empire Records" and hire Liv Tyler

obiwankobe wrote:

jr wrote:i liked tower...
too bad for us

black hole records in fullerton IS cool
i went there when Gidge suggested it before..
it does have a cool vintage store connected and the people are nice

that is where i will go from now on

if i won the lottery i would open a little empire record store and be jack black in high fidelity

yep
that is what i would do...

I'd open "Empire Records" from "Empire Records" and hire Liv Tyler

...and make her wear elf ears.....Sooo HHHHot!!!!

as soon as they get the money
the music dies
as soon as they get the gold
its all about lies
as soon as they get the money
the industry decides
the way the music should be
its paper cutout dolly rags
its cheap drugs
its lines of whores
its sheep in a line
all doing what they're told
for fame and fortune
for a face on a magazine
for better or worse
its always for the purse
never for the music
its a popularity race

Me thinks that this is just another victory fot Walmart.

aahahahaa...I'd hate to work there.

Glenn wrote:Me thinks that this is just another victory fot Walmart.

I used to think wal-mart was evil, but now I think...wal...mart...is...great
wal...mart ...is...great...wal...mart ...is...great...wal...mart ...is...great...
wal...mart ...is...great...wal...mart ...is...great...wal...mart ...is...great...
wal...mart ...is...great...wal...mart ...is...great...wal...mart ...is...great...
wal...mart ...is...great...

then you suck,you suck,you suck,you suck...possems are smarter than Shloemoe.

at walmart...they ask kids for id to buy a fucking movie or video game...its bullshit.

i would hire liv and i would hire that rory cochran bloke and then i would hire anthony lapaglia to supervise the operation.

ps - i wouldnt hire that ijit renee wilma flintstone zellweger
she gives me the jeebees.

but would you hire rot?

rotter wrote:but would you hire rot?

yeah I got a job for ya rot.....

Hey what's wrong with Wilma Flintstone...or Renee zellweger???

What job is that?Do not say "blow" either

The Rizen shloemoe wrote:

rotter wrote:but would you hire rot?

yeah I got a job for ya rot.....

Hey what's wrong with Wilma Flintstone...or Renee zellweger???

ask Glenn

Glenn?...above?...hhmmm?

I found this history thing on wiki.

Seven years after its founding, Tower Records expanded to San Francisco, opening a store in what was originally a grocery store at Bay and Columbus streets. The chain eventually expanded internationally and now includes stores in Hong Kong, Malaysia, Philippines, Republic of Ireland, Israel, Colombia, Ecuador, and Mexico. The store also established Tower Records stores in Japan, but those stores split off from main chain and are now independent. Arguably the most famous Tower Records outlet is the one located on the north side of Sunset Boulevard in Los Angeles. In addition to CDs and cassette tapes (few carry vinyl LPs anymore), stores also sell DVDs, PSP movies, video games, accessories, toys and electronic gadgets like mp3 players, while a few Tower Records stores sell books as well, such as the stores in Brea, California and Sacramento. All these product lines and more are also available at Tower.com, which got its start in 1995 as one of the first music retailers to set up shop on the Internet. In New York City, twin Tower Records stores straddle lower Broadway - one an annex that still sells vinyl records, and the other selling modern items (CDs, DVDs, etc.). The store in Greenwich Village was famous in the 1980s for selling albums of European New Wave bands not yet popular in the U.S. and was a noted hangout for teenagers from through out the metropolitan area.

Tower Records entered bankruptcy for the first time in 2004. Factors cited were the heavy debt incurred during its aggressive expansion in the 1990s, growing competition from mass discounters, and internet piracy.[2] Tower Records exited Argentina, Canada (where it had two Toronto stores), and the United Kingdom (including the famed 1 Piccadilly Circus store) market. It also sold off its profitable Japanese operation (which continues to operate under the Tower Records name) and reduced the total number of stores it operated in the United States.

In 2005 the company introduced scan and listen stations into its stores. These stations allow the customer to scan the bar code of an item, and listen to audio clips from the album in question. As with similar listening stations in other record stores, track samples do not exist for many albums, especially import titles, but most at least have entries with information from a central database, and the majority of more popular titles do have samples.

In spring of 2006, the company introduced the Tower Records Insider program. This program gives the customer a card they can scan during transactions, which can be used to earn coupons/rewards/benefits/etc.

On June 27, 2006, Tower Records launched its own digital download store[3].

On August 20, 2006, Tower Records filed Chapter 11 bankruptcy[4] for the second time in order to facilitate a purchase of the company prior to the holiday shopping season.

On October 6, 2006, Great American Group won an auction of the company's assets and commenced going-out-of-business sales at all U.S. Tower Records locations the following day[5]. The liquidation, which is expected to be completed by year's end, will end the bricks-and-mortar presence of Tower Records in the U.S., though the tower.com e-commerce site is expected to continue in some form.

Where did you see this?

on your forehead Jack...on your forehead.....

Here is wikipedia info. Dobnt know where Tom got the original. You should cover this late breaking story on the Punk Rock Demo.

Who is to blame.

1. Walmart
2. The Internet
3. Gen Y (tightwads)

http://en.wikipedia.org/wiki/Tower_Records

Correct me if Im wrong but wouldn't de-centralization(no mo tower
and other giants)help the indie cause?...na there's always like
wal-mart huh?....I dunno mp3's n mp4.5.6.7....are gonna change
the way distribution works for sure....it'll be interesting.

I think 90% of what you hear on indie (bar the specialty shows) and 100% of what you hear on kroq would be available at the mass merchants Walmart, K Mrt, Target etc. They would sell more CD's than any record stores would including Virgin, The Wharehouse etc. Also they are a lot cheaper. These mass merchants also would damage the indie stores more than the record stores chains would. They are like this to all industries. They dont sell the real indie stuff which is where the indie stores come in who specialize in punk (real punk) and alternative music that dosent get real radio play or mainstream media coverage.

If you havenet seen it, you should watch The High Cost of Low Prices. (see the image above). It is not very flattering to Walmart. A great movie.

Althouth I get that Tower where a corporate chain, they are a piss in the ocean compared to Walmart stores. They are also small and carry alot more selection of indie music than do Music Wherehous etc. (who sell only mainstream crap)

i hate walmart...
the music store is a dying breed...
i could spend hours in tower.... although i didnt have the means to buy as much as i would have liked...
i will not set foot in walmart.. that place is disgusting

jr wrote:i hate walmart...
the music store is a dying breed...
i could spend hours in tower.... although i didnt have the means to buy as much as i would have liked...
i will not set foot in walmart.. that place is disgusting

There's an oranization that stages protests in wal-marts by forming
long chains of "shoppers" who wind around the store with empty
carts and buying nothing....funny....I'll have to find it again.

you should see the walmart by my house on the weekend...
it looks like they bus people in ...
its disgusting!!
and guess who sell their clothing / cosmetic line there...
go ahead... (i bet tom knows)

marykate and ashley...
the sellout whores.

NICE!

when i see pics of them at "fashion week" i want to scream...
WALMART!!

funny...funny!!!

http://www.breathingplanet.net/whirl/

classic

love it
thanks shloe
thats great!