McGuire Gone From Tweeter
By Alan Wolf -- TWICE, 8/21/2007
Canton, Mass. — Joe McGuire has stepped down as president/CEO of Tweeter Newco, effective yesterday.
According to Tweeter chairman George Schultze, principal of corporate parent Schultze Asset Management, McGuire was “unable to execute the turnaround strategy.” A successor is expected to be named shortly.
No additional departures from Tweeter’s senior management team are anticipated, Schultze added. The group presently includes senior VPs Gregory Hunt (chief financial officer), Robert Staples (sales and installation services), Philo Pappas (chief merchandising officer), Patrick Reynolds (chief marketing officer) and William Morrison (chief information officer).
![]() Joe McGuire |
McGuire’s departure follows a massive
Friday that slashed headquarters staff by half.
McGuire joined Tweeter in 1996 as chief financial officer after the chain acquired Bryn Mawr Stereo and Television, where he had served as CFO for 10 years. He was named president/CEO of Tweeter in July 2005, succeeding Jeff Stone who left to head Tivoli Audio.
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Tweeter’s failure and slow decay into oblivion was not the direct result of the store sales staff failing to execute some perfect plan laid out by the brilliant minds in executive positions. Tweeter failed because they failed to adapt to market conditions and because it was being led by an indifferent and uncaring management team. People were treated poorly from the top all the way down. In sales, as Mike Hoinsky will tell you, if the money isn’t great you better make sure your sales team are happy and still interested in making management proud. Once JQ joined the Tweeter team, her insidious corporate philosophy slowly decayed Tweeter’s happy work environment into misery. This was generally the way she made everyone under her feel, “You are an automaton and easily replaced, you better adhere rigidly to my specific instructions or you will be replaced…†Tweeter was founded on an upside down pyramid. New hires were taught from the very beginning that management worked for the sales team. JQ and her team brought with her a philosophy of “Management whips the slaves and if they die you get another.†Sadly, this might work when your selling paper clips and copy paper, but in the audio video world, in a company that was founded on passion, this was a poison that had no antidote. Her team and their whips were one of the biggest reasons for Tweeter’s demise.
On another note, it is disgusting when the CEO purchases a large half million dollar boat when the company he is riding bare back is stiffing thousands of folks who need to provide for their families. Back when people had integrity, when Jeff Stone was in charge, leaders understood that if you don’t have “the way of the people†you will lose everything. If anyone reading this doesn’t know what I am talking about go pick up a copy of The Art of War by Sun Tzu.
In sales, either pay the best or treat the best but don’t fail at both unless you have a monopoly. It truly is that simple. Tweeter hit an iceberg and M Hoinsky wants to point to the guy at the steering wheel even though he steers the ship exactly where he is told. I place the blame on the captain who was in charge. M Hoinsky and the folks in similar positions, are corporate mechanisms, they do what they are directed to do. Joe the cowboy and JQ are responsible for Tweeter’s demise. No one should waste another minute pointing at each other in any lower position.
Wish everyone well - 2007-1-11 13:45:00 EDT -
I see someone mentioned 0224 in a previous comment. That store could of been, and should of been tha bomb!!!! Mr Ho bag Insky, came there like once a decade, to complain about how the store was doing!! If he would have given, if ANYONE would have given, that store the tools it needed, it could have been the top performer in the company!! It had it all, a great GSM, the coolest, and most understanding, and wicked bad salesman ASM in the company, and an OPS guy, that actually cared!! It also had 3 of the best salesman, including one, who even though he was an old man, had it going on!!! Now, you see, the competitors in the area, doing HUGE numbers, why?>? Because, they now have this awesome team, earning for them, like they would have done, if anyone, besides the ASM, and GSM, would have cared about them!!! Tweeter, wont be long, and itlll all just be a story to tell other new comers to the industry, the giant, who fell to the little guy!!! Who am I?? A customer, that spent over 200 thousand dollars, at this store, and it wouldnt have went to any other store in the state!!!
a former customer - 2007-23-8 21:14:00 EDT -
I challenge each and every Tweeter executive in the "ivory tower" to return the HUGE bonuses they were paid this year for doing their best to run the company into the ground when those of us who work way down here at the "local level" are busting our butts in an effort to keep the company alive. I''d love to see that money distributed to those who EARNED a severance package but were ultimately CHEATED out of their earnings. If there''s any $ left, share it with us who are still with Tweeter but are no longer earning bonuses.
Hey Hoinsky(whoever you are???), you ever spend any time in a crawl space? How ''bout an attic when the temperature outside is 105 deg.? I bet you''ve spent plenty of time figuring out how to cut our HARD EARNED pay (it''s happened twice in the last 2 years!) so your pay may be increased! Sell what''s in the barn? Chew what''s in my shorts! I''ll say it again, WE (NOT YOU) at the local level have kept the company afloat despite YOUR (and Mcguire''s and Queye''s etc etc etc) "efforts". Don''t think for a second that we''re on the same team. I suspect George Schultze is figuring that FACT out pretty quickly!
Extremely hard working Tweeter Employee - 2007-22-8 20:25:00 EDT -
No one should feel bad for this character McGuire. I don't know if Hoinsky wears socks, but, they should take his shoes away from him, the way these 2 crooks took my money away from my family!!! Anyone ever see Hoinsky on his TV commercial debut?? HAHAHAHA, what an idiot!!! www.soundadvice.com the truth shall set you free...
WHERES MY SEVERANCE - 2007-22-8 19:54:00 EDT -
Tsk Tsk Tsk, Like he said himself, " IT IS WHAT IT IS" Maybe Joe, can go help Hoinsky, and Pat Sweeney on the side, so maybe they'll understand.... Once again, Tsk Tsk Tsk.. 0216, 0204 (the real one), 0224, 0212, the dream that never got to come true....
Does Hoinsky wear socks?? - 2007-22-8 19:41:00 EDT
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