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Doublereed Archive - Posting 000078.txt from 2006/12
From: Shiloh S Wyant <SS-Wyant@-----.edu>
Subj: Re: [DR-L] Woodwind Brasswind
Date: Wed, 20 Dec 2006 13:56:40 -0500
PLEASE STOP SENDING TO ME!!!!!!!!!!
PLEASE STOP SENDING TO ME!!!!!!!!!!
PLEASE STOP SENDING TO ME!!!!!!!!!!
Quoting Dave Metzger <dave_metzger9@-----.com>:
> >From www.mmrmagazine.com:
>
> The demise of the South Bend, Ind.-based dealership, which booked 2005 sales
>
> of $136 million (down from $145 million in 2004), appeared to stem from the
> outcome of a lawsuit involving former minority partners Stephen and Richard
> Zapf. The Woodwind & The Brasswind had acquired Philadelphia-based Zapf
> Music Stores, Inc. in 2002, with the former brick-and-mortar business
> becoming the Internet-only marketer Music123. While Music123 prospered
> following the deal with sales escalating from $20 million to $58 million
> annually over the next three years, the relationship between the Zapf
> brothers and Woodwind CEO Dennis Bamber soured, and both Zapfs were
> terminated in 2004. The Zapfs then sued, Woodwind countersued, and the court
>
> found in favor of the Zapfs in September to the tune of $9 million. In a
> report published in the South Bend Tribune, Bamber said the bankruptcy
> filing was necessitated to protect the company from the outcome of the
> lawsuit. The court filing also cited the costs involved with closing a New
> Jersey distribution facility and the opening of a new distribution center,
> as well as an $800,000 expense related to software licensing and upgrades.
>
> >Richard Ramey wrote:
> >>This interesting bit of news was sent today on the contrabassoon list.
> >>Does anyone know what the lawsuit, mentioned in the press release,
> >>concerns?
>
> Get live scores and news about your team: Add the Live.com Football Page
> www.live.com/?addtemplate=football&icid=T001MSN30A0701
>
>
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