Muzak isn't just musically bankrupt. It's financially bankrupt. Yesterday, the South Carolina brain-softening outfit filed for Chapter 11 bankruptcy, after failing to make a $105m payment to its creditors. But CEO Stephen P. Villa says the elevator music will play on - and on and on. "We believe Chapter 11 will provide us with …
The new Modus operandi for business is...
1. Borrow a lot of money.
2. Declare bankruptcy.
3. Fuck both your shareholders AND creditors.
4. Start the business anew with ZERO debt.
Prime example is: the newspaper biz
What a shame...
... that's all!
(Mine's the one with the earplugs in the pocket so I don't have to listen to this crap!)
...makes the GFC worthwhile.
They had to face the music sometime!
No real alternative is there?
Crap elevator musak cannot be replaced by the real thing as the performing rights and RIAA would be down after their pound of flesh, just too expensive to license real music. So with all due sympathy to the ex-employees, I can't see losing this boil on the bum of mankind, being anything other than a great leap in the evolution of the species!
"Tall and tan and young and lovely
The girl from Ipanema goes walking
And when she passes, each one she passes goes - ah
When she walks, she's like a samba
That swings so cool and sways so gentle
That when she passes, each one she passes goes - ooh..."
Wait....there was a news item...?
Theres a company dedicated to that crap, and they somehow spent HUNDREDS OF MILLIONS?!
Oh what? Too many casio keyboards?
This makes no sense at all.
Utterly pointless company
Good riddance to atrocious noise.
I don't trust 'em not to come back.
I say we take the dropship and nuke the site from orbit.
It's the only way to be sure.......
...going down :-)
That's EXACTLY the tune I had in my head as I started to read the comments...
Muzak is a company?!
I thought it was just the music style
So they're gone . . to better serve their customers ?
That must be something like the local Triad gangster changing the "ownership" of his restaurant three times in the last five years - with the same personnel, the same crappy list of dishes, but a different decor each time.
And the Income Tax guys get fooled every time.
I like muzak.
The reason? I HATE POP MUSIC!! (full stop)
When you're not allowed to wear earphones at your desk and you're forced to listen to top 40 shlock.
When you go to a hardware store and listen to really bad '70's crud.
When you go to a drinking establishment and listen to (and sometimes see) jukebox hits.
Australia - When you venture to a large department store and they play it safe and pipe the latest hits through the air due to the government establishing a law that forbids playing dead composers and individually owned music due to copyright restrictions and to avoid a hefty fine so the shop has to air its own 'radio station' (Kmart radio) complete with DJ, news, sport, etc.
The joy at hearing pop music cooly preformed differently just to fire up the synapses of memory. Some was reproduced really quick to the point that after about 2 weeks a song that made the top 10 was (suddenly) muzak! At lease it was in the back ground and not rotated every 2 hours! You hear it once and that was it. Gone. You may not hear it like that again. Maybe slightly different. I like a well preformed cover; even in a pub. To me Muzak was like grabbing your crouch in front of anyone that thought they knew music. The ultimate insult.
Screw the lot of you that don't understand and prefer corporate pop music that's brain dead and has absolutely no soul!.
'Aw mate, that's a hit!'
UUUG!! You're 45! That's a 30 year-old song! Not again!
Sorry to be an Anorak but it's:-
"Let's Dust Off, Evac and nuke to the whole goddamn site from orbit"
"Only way to be sure"
Mines the one with the Face Huggeeeerrrrrrrggggggggggggghhhhhhhhhhhhh!!!!!!!
"A company court filing says the company's total debt is between $100m and $500m. A single creditor, US Bank, is owed $371m."
I'm guessing it's not $100m then.
They Invented Communication over Powerlines
Bet you didn't know that did you.
Muzak actually came out of a military officers search for a way to transmit messages over powerlines during WWII. The military didn't see much use in it since they had already blown up all the powerlines - but it was still a cool idea.
So after the war he started a company that piped music into commercial establishments via powerline. Pretty cool - especially for the times.
The employees probably were underperforming due to soft, quiet music constantly playing the background lulling them to sleep at their desks.
How could they go bust
How could they go bust? They sell other people's music. They must have some really high imput costs I haven't considered. Also, how do you let debt creep up that high? Especially when your business is just selling other people's music. Wait, it get worse: Muzak's CEO, Steve Villa, has gone on record as stating that the company has $438 million in debt coming due in 2009. (from Wikipedia). Who the hell lends a company that sells other people's music nearly half a billion dollars?