Norman Waitt
Chairman/CEO

Spurred by his lifelong interest in music and recognizing that large segments of the music market-including an educated, adult demographic-are being underserved by the industry, Norm Waitt, Jr., formed Gold Circle Entertainment, Inc., in 1996. In doing so, Waitt, who co-founded Gateway 2000, Inc., has establish a new kind of record label that is committed to the long-term development of compelling artists and quality music products to serve a growing community of fans who share his musical vision.

Waitt grew up in the Midwest. After attending the University of South Dakota from 1972-1974, he left to study accounting in Omaha, Nebraska. In 1978, he went to work for his father and uncle, who were partners in a cattle brokerage business. When they split their partnership, Waitt went to work for his father as an accountant. However, by 1984, the cattle business had slowed down and he went back to school at Morningside College in Sioux City, Iowa, where he earned degrees in Business (1984) and Economics (1986).

In the last semester of school, Waitt joined his brother, who had started a business selling peripherals for Texas Instruments PCs. He came on board to help manage the financial operations of the company, which soon began to sell their own XT compatibles as its core business. By 1988, they began to sell on a national basis, which is when the company, Gateway 2000, Inc., really began to take off. By 1989, they were doing about $70 million in business, and continued to grow.

After working with his brother for five years, Waitt left his active management role with the company, taking a cash settlement along with stock while maintaining ties through a consulting role. He did some investing, but quickly realized that he needed some other business activity to focus on.

Rather than invest in a franchise operation (which he'd been advised to do), Waitt thought hard about the kind of business he wanted to get involved with. He realized that he'd always had an interest in music, and had friends who had been musicians for a long time. One group of friends had a blues band called Chill Factor and Waitt decided to help them do an album. And, recognizing that he didn't know anything about the recording business, he began to seek music pros to help him out.

In his search, Waitt met both Michael Delich (who worked for American Gramophone) and Michael Shrieve (a well-known drummer since his appearance at Woodstock with Santana). Waitt continued to discuss music and the music business with them individually. It wasn't long before Waitt recognized that Delich's background in music marketing and business fit well with his concept for a record label, and asked him to join the new venture. (Waitt got Shrieve involved in producing an album for another group, an instrumental jazz combo known as F5. Shrieve has since moved on to pursue other musical interests.)

In his position as Chairman and CEO, Waitt has continued to build Gold Circle's infrastructure, including hiring other key management personnel, that has enabled the company to launch its first products in early 1998. In addition, he's looking at potential acquisitions of radio stations and other music properties to complement the company's existing resources.

In describing his approach to the music business, Waitt emphasizes the desire to work with quality musicians in developing and delivering quality music to the marketplace. At the same time, he has established a corporate culture that offers both challenges and reward for everyone involved. It's all part of the bigger community of music fans that Norm Waitt, Jr., wants to build and serve through Gold Circle Entertainment, Inc.