I Read the News Today…Oh Boy

Sunset Strip, LA (L) Concord, CA (R)

In today’s business section, I saw this jaw-dropping headline:

Tower Records to Sell Off Inventory
Liquidation specialist Great American Group, which bought the bankrupt music retailer for $134.3million, plans to close all 89 stores.

I’ve been going to Tower since, well, I was a kid. And like a bank, the electric company, and my late father’s wardrobe, it was always there and never really changed. Sure they added CDs and DVDs when the market changed, but they were a music store where you would browse the stacks and buy a few albums by groups that you knew and maybe a couple you didn’t, but were willing to give it a try.
But with the rise of our pal the Internet, downloading music was pretty much the death knell for brick and mortar stores like Tower. I stopped going on a regular basis when CD prices never dropped to a pricepoint that looked good to me. And with iTunes, the Russian mafia, My Space, and a bunch of other sites that offer music either cheap or free, it was only a matter of time for Tower to call it quits. I’m surprised they lasted this long, but starting today you can finally get CDs at the price you’ve been wanting for a long time.* Alas, it took bankruptcy to get us to that point.

So long Tower…thanks for the memories of hanging out in the parking lot on Fridays with fellow music geeks back in the day!
–PK

*  UPDATE!!!  J and I just got back from the Concord, CA store and here’s the deal:  10% off on CDs and DVDs.  20% off on book, and 30% off on magazines.  So, it’s not that great of a deal at this point.  My guess is that they’re going to discount the DVDs and CDs as the holiday season ramps up.  I bought a new CD case (holds 400!) and J bought the new Panic! At The Disco.  Was $19.99, but she got it for $17.99 + tax for a total of$19.47.  See?  Not that great of a deal.  Oh, and all sales are final).  

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