Schultze Buys Tweeter

Well they just closed the last Veagas store, so much for no further closings ! New Company , Old Company it really does not matter since the same old weak mgt team is in place. I wonder if they are still yelling cheers in the corp office of how great they are or pissing away money on fun Friday's- I bet not. Schultze should have taken that 38 mil and bought some Florida swamp land to develope. At least they could have recouped on the next hurricane HA HA
SUCKERS

The current management team will be out by Christmas. Once Schulze has a chance to get into the nuts and bolts (they did their due diligence, but couldn't make any changes), current management will balk at implementing the changes needed to turn the company around. Close more stores, concentrate on high growth, high income markets, cut product offerings to remove low-margin choices, and make the chain a high-end niche retailer like it was before the expansion plans got so unwieldy.

As someone very familiar with the situation at Tweeter
I think that it is a huge mistake to keep the same upper management team in place.These are the people who
drove the company into the bad position they were in and there''''''''s no evidence to show that they would do any better playing with Mr.Shultze''''''''s money.They have no retail savvy AT ALL!Their grand marketing plan was to have all the salesmen in the stores mail letters to people and go out and ask if they can leave advertising materials inside of other stores hoping that the other stores will send people to a Tweeter store.They did no Print Ads despite being told over and over again by the Sales and lower management staff that customers were asking for it and coming in to Tweeter stores with the competitions ads in their hands.The news of their Bankruptcy filing sure spread around quick once it was in the NEWSPAPER!
Instead of putting ads in the weekend paperlike Best Buy who is making money does they put money into buying every salesperson an IPOD because "that''''''''s where the future is".Kind of funny isn''''''''t it? A "high end,custom company" counting on the IPOD for future success?They spent a ton of money on signs and displays for the inside of the stores but never bothered to tell the public to come into the store to see them(Advertising)As one of the salespeople said "We''''''''re the nicest store no one knows about".On top of all that to ask the bankruptcy judge for a bonus for all their hard work recently
is to ignore the last 6 years that the company lost money under their control.It''''''''s ridiculous and a slap in the face of all the employees who have struggled recently just to hang on and pay their bills.I truly feel that Mr.Shultze may as well throw 46 million dollars in his toilet and flush it away if he intends to let these guys keep running the company.Hopefully he did his homework before he spent his millions on why Tweeter failed in the first place and make some much needed changes in the upper management.
Harry S.Truman

I wonder if the Top 5 Exec''s are going to get the bonus they asked for.
Forbes reported that $350,000.00 was asked to be set aside as a
bonus for 5 Exec''s as long as the sale of the company was above 35
Million. What a bunch of asses. These money hungry Exec''s claim that
"...they put in all this extra time to help the company bankruptcy go
smoothly". What about all the people Tweeter screwed over? Closing
stores without a 2 week notice. All the vacation pay and severance pay
promised to those who stayed aboard to help close the stores down. Its
a shame that Sandy Bloomberg, Company Founder, allowed such things
to happen. I know its corporate America, but that doesn’t mean you
have to lie to your employees that put in over 50 hours a week to try to
make the company work. Business ethics 101. So to the TOP Exec''s
that want a bonus on top of their overpaid base Salary.....why don''t
you ask for the money to pay off the employees that made you a
success, instead of lining your own pockets even more. Gluttonous
Corporate Swine.

Big mistake to keep current management. Yhey drove the company to this position, what makes anyone think they will improve anything