Gibson responds to bankruptcy reports

Discussion in 'Guitars in General' started by COYS, Feb 22, 2018.

  1. toomanyamps

    toomanyamps Member

    Messages:
    1,485
    Joined:
    Apr 26, 2007
    I think it is more accurate to say dying companies they bought and couldn't figure out how to save.
     
  2. toomanyamps

    toomanyamps Member

    Messages:
    1,485
    Joined:
    Apr 26, 2007
    The banks may not have a choice, a judge will get to say what happens if they go into bankruptcy.
     
  3. ieso

    ieso Member

    Messages:
    2,647
    Joined:
    Mar 31, 2007
    Location:
    Central MA
  4. badhorsie551

    badhorsie551 Member

    Messages:
    2,144
    Joined:
    Jun 4, 2012
    Are you surprised that armchair guitarists are questionable financial experts as well??
     
    stratotastic likes this.
  5. EL34

    EL34 Silver Supporting Member

    Messages:
    2,036
    Joined:
    Jan 28, 2004
    Location:
    NOVA
    Seriously, wtf is “Chickering”?
     
  6. AudioWonderland

    AudioWonderland Member

    Messages:
    5,045
    Joined:
    Nov 20, 2009
    Yes but Henry doesn't want to go there. He wants to get the banks to bend to his will which I don't see happening. Even in court they can make an awfully good argument for mismanagement and are likely to win that argument. No guarantees but unless Henry has found private investment they are in a very bad position.
     
  7. stratotastic

    stratotastic Member

    Messages:
    7,253
    Joined:
    Jun 2, 2008
    Location:
    Stranded in Philly
    I have all the Gibaons I need.

    Whatever happens:
    :munch
     
  8. toomanyamps

    toomanyamps Member

    Messages:
    1,485
    Joined:
    Apr 26, 2007
    Actually if it goes to court I don't think the banks can make much of a case at all for mismanagement.
    Are they going to say he wasted the money on Onkyo,Philips etc.? They knew what he was doing when they lent him the money.

    Over the last year he has sold unneeded real estate to generate cash, eliminated underperforming divisions (Cakewalk), reintroduced a dormant brand ( Steinberger), in short he has made all the right moves from a financial standpoint. Combined with his record for the last 30 years , I think if they do end up in bankruptcy, Henry keeps control.
     
  9. Tmidiman

    Tmidiman Member

    Messages:
    3,352
    Joined:
    Aug 8, 2013
    Location:
    Chicago area
    I could give a rats anus about Gibson, but it’s that they took down Cakewalk with them. The employees too.
     
  10. webe123

    webe123 Member

    Messages:
    1,404
    Joined:
    Dec 24, 2003
    OH PLEASE! Henry J has had an ego so big, he thinks the "creations" from gibson like the FIRETURD X....were going to "revolutionize the guitar industry"! Guess what....IT DIDN'T! It was an absolute flop! ( No surprise to me) Not to mention the new modern flying V or any of the monstrosities in between. Then there are the failed companies Gibson invested in...which there are many! It just goes to the thinking of the top brass that has gotten themselves into this mess to begin with! I for one do not want to see Gibson fail as some on this board stupidly think.... that if you want to see change at Gibson...you must be rooting for their demise...I want to see Henry J fail as it is in the best interest of Gibson to have a new CEO! I really do think that new management could turn this around, but as long as you have the old management....they are going to keep making the same mistakes over and over and over! Time for a change at Gibson....time for Henry J's leadership to end!
     
  11. Jabberwocky

    Jabberwocky Member

    Messages:
    839
    Joined:
    May 14, 2010
    Location:
    'Tis safer under the bridge.
    Pianos.
     
    EL34 and Elantric like this.
  12. BlueRiff

    BlueRiff Member

    Messages:
    4,928
    Joined:
    May 19, 2016
    Location:
    MI
    The statement by Gibson translates to “we’ve been selling stuff (‘monetizing assets’) and we’re going to get the best financial results ever within a year by.... selling a ton more stuff really fast at rock bottom prices. We’re gonna focus are energy on stuff that sells (‘upside’)....”. There isn’t a word in this on how they plan on competing but they’re a private company so they don’t have to talk about it.
     
  13. GuitarMike69

    GuitarMike69 Member

    Messages:
    428
    Joined:
    Dec 2, 2017
    Location:
    San Diego
    I have to agree with this, or at least towards the Gibson and Fender brands. Modern brands, such as PRS and Taylor, are encouraged to come up with something new, while most guitarists looking at a Gibson want a REAL Gibson, without chambering, without quick-connect (easy to assemble production line) electronics, without lame ass robot tuners, without "Les Paul 100" scribbled on the headstock by a kindergartner, without a lame "adjustable" brass nut and without a $2,900 price tag for a regular Standard Les Paul. They really blew it in 2015, trying to be innovative. By mid-2016, these crappy '15 models were being dumped at ridiculous discounts at my local Guitar Center, which was sad to see. They corrected some of these mistakes in 2016, but I'm sure the company took a huge blow and lost a lot of core customers, by then.
    I bought my first Les Paul Custom in '83 (a '79, yes, I have dated myself, if my handle didn't already) and it has a PERFECT neck profile. So do all of my many other Gibsons through the 80s and 90s. Then, some jackass in the marketing or "innovation" department thought it would be a good idea to issue LPs with a fat 50s (ridiculous and almost unusable) or a slim 60s (big flat area on back of almost D shaped neck?) instead of the wonderful neck profiles they have always had? Nonsense. Then, they flooded the market with so many in-between models (faded, professional, special, tribute, classic, traditional pro, traditional T, etc, etc) that you have no idea what you're buying, just that it's cheaper than the "Standard" or "Custom" models and looks about the same. I try to avoid anything from Gibson made in the last 15 years. (I buy, sell, play and collect a lot of guitars) I've seen many with the fit and finish being worse than the $300 Chibsons. The have become a money machine that no longer produces "fine instruments", they're just "units" to them. Even most of the reissues are crap, for the price.
    The Gibson brand will not be going under in any of our lifetimes. But, they have survived on their name alone for far too long and now must take a long hard look at what got them there in the first place.
    Mr. Les Paul would be so pissed if he ever saw a 2015 Les Paul, probably just as pissed as he was in 1961 when they ripped off the maple cap, cut another cutaway and tried to call the SG a Les Paul.
     
  14. Simto

    Simto Member

    Messages:
    4,095
    Joined:
    Jul 10, 2008
    Location:
    Copenhagen
    I just want a nice plain top R58 Les Paul with a nice fat neck... so please don't die before I get that.
     
  15. hotrats73

    hotrats73 Member

    Messages:
    2,065
    Joined:
    Apr 12, 2014
    Location:
    Italy
    Maybe Epiphone is gibson's cash cow
     
    Elantric likes this.
  16. GuitarMike69

    GuitarMike69 Member

    Messages:
    428
    Joined:
    Dec 2, 2017
    Location:
    San Diego
    I HAD to have an R8 a few years ago. Drove from San Diego to LA to finally get a deal on one. Most beautiful bourbon burst I think I've ever seen. The fit & finish was nowhere near perfect, didn't care for the Burstbucker pickups and the neck was so clubby and slow, I dumped it after one rehearsal. Never made it to a show. I'm not going anywhere soon, but you'd be a fool to buy a new one of those.
     
  17. hotrats73

    hotrats73 Member

    Messages:
    2,065
    Joined:
    Apr 12, 2014
    Location:
    Italy
    Piracy killed cakewalk.
    Piracy and competition
     
  18. BlueRiff

    BlueRiff Member

    Messages:
    4,928
    Joined:
    May 19, 2016
    Location:
    MI
    Henry made sure my Gibson warranty work got fixed promptly after the weak, ‘I’m a victim’ dealer was afraid to press Gibson on where it was after sitting at Gibson for two months. I emailed Gibson addressing Henry in it on the issue and a guy on his staff called me the next day promising to get me an answer in 24 hrs. He did and the guitar was back to me within the week. He may have gotten unfocused with all the acquisitions and experiments but he’ll get it back.
     
    Pedal Dan and toomanyamps like this.
  19. brain21

    brain21 Member

    Messages:
    2,470
    Joined:
    Oct 25, 2007
    IDK, those 70s Custom Van Les Pauls that no one has been asking for tho... <headdesk>
     
  20. brain21

    brain21 Member

    Messages:
    2,470
    Joined:
    Oct 25, 2007
    I just don't want Epiphone to go away. :( Ef the "Modern V" - I could buy 2 or 3 Brent Hinds Vs and 2 or 3 Amos Vs for the same price or less. And they look better, and probably sound better. And its 4 or 5 guitars for the price of 1.

    And then there is the True Traditional LP. They wany almost $10k list for that. WTF? I can go get a Gustavson or Monty or any number of WAY better guitars for that price or even half.
     

Share This Page

  1. This site uses cookies to help personalise content, tailor your experience and to keep you logged in if you register.
    By continuing to use this site, you are consenting to our use of cookies.
    Dismiss Notice