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Post subject: Re: Gibson files for Chapter 11 bankruptcy
Posted: Thu May 03, 2018 9:25 am
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Basses are also in the same jargon: Sadowsky, Sire, Xotic and Lakland produce many of their instruments overseas, following a trend Fender started in the early 1980s.


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Post subject: Re: Gibson files for Chapter 11 bankruptcy
Posted: Thu May 03, 2018 10:16 am
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chromeface wrote:
If Gibson finally finds a buyer one of his first priorities is to start production of Gibson-brand instruments overseas to reduce costs and make new profits. Many major US guitar-making companies adopted this strategy and I wonder why Gibson didn't followed it.


Already doing this.. and thy name is Epiphone....

Don't see this changing (Gibson USA Made, Epiphone Imported) but who knows.


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Post subject: Re: Gibson files for Chapter 11 bankruptcy
Posted: Thu May 03, 2018 1:40 pm
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From the web so tread lightly...

"According to longtime CEO Henry Juszkiewicz—who prior to this reorganization owned 36% of the company per court documents—"... this process will be virtually invisible to customers, all of whom can continue to rely on Gibson to provide unparalleled products and customer service."

Mr. Juszkiewicz will remain in his position as CEO for the time being, though some sources have indicated that a change in management will likely occur under pressure from existing debt-holders."

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Post subject: Re: Gibson files for Chapter 11 bankruptcy
Posted: Thu May 03, 2018 9:14 pm
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Good thing is: Fender seems to be a much more focused company and is still doing ok.


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Post subject: Re: Gibson files for Chapter 11 bankruptcy
Posted: Thu May 03, 2018 11:12 pm
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Miami Mike wrote:
From the web so tread lightly...
Well said, Mike.
Miami Mike wrote:
"According to longtime CEO Henry Juszkiewicz—who prior to this reorganization owned 36% of the company per court documents—"... this process will be virtually invisible to customers, all of whom can continue to rely on Gibson to provide unparalleled products and customer service."
Although, this statement is to be taken for what it’s worth, announcements like this are pretty standard fare whether any company which states it is in good shape or deceptively is in disrepair. I myself have heard this “situation normal” announced with a closure imminent. Operations didn’t change. They just stopped. Either way going through the motion and making a statement serves a purpose to buy time and support for organization regardless of the direction. Lacking originality, this common blurb can be seen or heard elsewhere too . . . such as in politics. :wink:
Miami Mike wrote:
Mr. Juszkiewicz will remain in his position as CEO for the time being, though some sources have indicated that a change in management will likely occur under pressure from existing debt-holders."
There are two opposite approaches in business circles with uncertainty that appears factual, and rumours. Some believe what is told over and over and, strangely, from different reputable sources without them having authority or being responsible for final judgment. Some circles claim this to be hearsay. On the flip side, others believe that a great deal of rumours should not be dismissed from the possibility that there may be some truth with the rumours based on who, how, where, and when. That’s how a number of us learned of a closure from our neighbours in the city’s newspaper before it was released either by the paper or the company. Statistics have shown that more often than not rumours tend to be accurate, and many have this considered in their business plan. Sometimes, it’s a gamble to be sure. If one is wrong or ablivalent it can be costly or of no consequence. If one is right . . . it can be a windfall. Success sometimes calls for taking risks.

In reality time will tell.

Whatever the case, I’m sure that most here wish for a better future for a historical company and those affected.

FSB

According to reports FoMoCo has data that says 4 doors are losing popularity. Maybe, Gibson will lose a few doors and still be able to manage. :D

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Post subject: Re: Gibson files for Chapter 11 bankruptcy
Posted: Fri May 04, 2018 5:11 pm
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I was told from a reliable source that Joe Bonamassa wants to buy them!?!?

Can he? Would he? Fact or fiction?

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Post subject: Re: Gibson files for Chapter 11 bankruptcy
Posted: Fri May 04, 2018 6:09 pm
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Gibson will more than likely come back stronger than ever once they have shed the dead weight that Henry saddled them with. The core business of guitars (both electric and acoustic) is quite profitable, and despite some folks quibbles to the contrary, the Nashville plant is fairly modern for the way Gibson builds guitars. The Memphis plant on the other hand was way too large and quite simply not needed and was just another drag on their bottom line. Henry will most likely keep his shares but will be replaced as CEO during the transition to a leaner profitable company again.

I had an uncle who worked at Gibson in Kalamazoo from the late 60's all the way to the move to Nashville. Yes the Unions did put pressure on the company in the form of strikes and benefit demands, but the factory's condition and expansion combined with mismanagement (and Debt) by its parent company is what led to the move to Nashville in the first place.

No doubt these bad times for Gibson will pass, better quality will return, and Gibson's tarnished reputation will fade.

FWIW

:mrgreen:

T2

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Post subject: Re: Gibson files for Chapter 11 bankruptcy
Posted: Fri May 04, 2018 7:56 pm
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Miami Mike wrote:
I was told from a reliable source that Joe Bonamassa wants to buy them!?!?

Can he? Would he? Fact or fiction?
I have connections with a former associate who has her own show at CNN. I’ll get them on it, and eventually Don Lemon will solve the fact or fiction. :lol:
FSB

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Post subject: Re: Gibson files for Chapter 11 bankruptcy
Posted: Fri May 04, 2018 10:52 pm
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Thank you for posting CoronadoII. I am a Gibson guitar admirer and so hope all will be well.

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Post subject: Re: Gibson files for Chapter 11 bankruptcy
Posted: Sat May 05, 2018 6:29 am
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http://www.wamplerpedals.com/news/blog/ ... assa-story

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Post subject: Re: Gibson files for Chapter 11 bankruptcy
Posted: Thu May 17, 2018 2:47 am
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There are rumours circulating across the Web about a possible acquisition of Gibson by PRS.


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Post subject: Re: Gibson files for Chapter 11 bankruptcy
Posted: Thu May 17, 2018 2:50 am
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T2Stratman wrote:
Gibson will more than likely come back stronger than ever once they have shed the dead weight that Henry saddled them with. The core business of guitars (both electric and acoustic) is quite profitable, and despite some folks quibbles to the contrary, the Nashville plant is fairly modern for the way Gibson builds guitars. The Memphis plant on the other hand was way too large and quite simply not needed and was just another drag on their bottom line. Henry will most likely keep his shares but will be replaced as CEO during the transition to a leaner profitable company again.

I had an uncle who worked at Gibson in Kalamazoo from the late 60's all the way to the move to Nashville. Yes the Unions did put pressure on the company in the form of strikes and benefit demands, but the factory's condition and expansion combined with mismanagement (and Debt) by its parent company is what led to the move to Nashville in the first place.

No doubt these bad times for Gibson will pass, better quality will return, and Gibson's tarnished reputation will fade.

FWIW

:mrgreen:

T2


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Post subject: Re: Gibson files for Chapter 11 bankruptcy
Posted: Thu May 17, 2018 5:59 am
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Too soon?

ImageFender by MikeB39A, on Flickr

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Post subject: Re: Gibson files for Chapter 11 bankruptcy
Posted: Fri May 18, 2018 3:57 pm
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Never owned a Gibson. Have looked at them and held/poked/played a few models, but Fender has always been my #1 true love in the Guitar Realm. Also, I did not know this until a couple months ago when I bought a Jackson, that Fender bought Jackson in 2002. Nice to know. :)

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Post subject: Re: Gibson files for Chapter 11 bankruptcy
Posted: Fri May 18, 2018 4:01 pm
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chromeface wrote:
Anyone remembering Kramer's collapse in the early 1990s? Gibson owns the brand since 1997.....


Yep, I remember that. I may be wrong, but I thought at the time anyway that EVH was giving the Kramer brand a public nod of approval....then sometime after that EVH started making EVH guitars.

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