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Post subject: Re: Fender IPO - Guitar Center May Default!
Posted: Wed Jul 18, 2012 1:22 am
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SKcoppertele wrote:
I love fender and it is worth paying $1000 to get one of their guitars. what I don't understand is why they don't get rid of squier. we allknow that squier= crap.


What that statement tells us is you don't know what you're talking about because mine and many others CV series and some other higher end Squiers say otherwise.

I also saw some bassists in bands I saw at the weekend use Squier bass' and they sounded great, maybe don't be such a gear snob, not all of us can drop $1000 on a guitar, be thankful you're lucky enough at 14 or whatever to be able to do so.


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Post subject: Re: Fender IPO - Guitar Center May Default!
Posted: Wed Jul 18, 2012 1:52 am
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Snowjoe wrote:
What that statement tells us is you don't know what you're talking about because mine and many others CV series and some other higher end Squiers say otherwise.


+1!

Many of my clients who bring me guitars and amps for servicing began their playing careers with Squier Strats and Teles. Like all of us, they've grown and most of them are now owners of more upscale Fender gear. I wonder how many of them would've bothered taking up the guitar at all if not for these entry-level instruments. In my day we all started with Teisco, Kingston, Decca, and other truly horrid import guitars -- they played and sounded like unmitigated crap for the most part. The Squier line delivers reasonable playability and performance well beyond its modest price point.

Just an old geezer's opinion......

Arjay

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Post subject: Re: Fender IPO - Guitar Center May Default!
Posted: Wed Jul 18, 2012 2:13 am
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perhaps if the salespeople at GC actually spent their time with real customers, as opposed to "hanging around" chatting with every 12 yr old girl & 14 yr old boy (always dressed in rags), they'd have a better sales record.
case(s) in point, i'm a middle-aged man and I usually wear a button-down shirt, clean jeans, and nice boots when I visit GC, and I almost never get waited on.
I've walked out of GC with $6000.00 in my pocket because I couldn't get help w/a guitar purchase.
I've walked out w/ $3000.00 because the salesman REFUSED to sell me an amp because it was the "store demo".
I almost caused an altercation due to a salesman telling me that an A-grade(non-faded) Flying V didn't come w/a HSC (after just bragging about buying a faded for himself a few days before).....when he finally DID bring my case out, it was for a diff. color V.....i'm pretty sure HE took his faded home in the case mine came in!!

i've gotten so many online comps from GC corporate it's rediculous, all due to terrible sales tactics, & generally poor attitude of the sales staff.....i'll NEVER darken their door again, i've switched to Sweetwater and never had a lemon arrive at my home.

disclaimer: all these bad experiences happened at the Birmingham Al. GC.
I refuse to ever use MF again, because a cancelled order on an out of stock, out of production item that was listed as "NEW & IN STOCK" caused a NINE FREAKING WEEK DELAY in refunding the $ to my bank account......it took 4 calls & 3 heated emails & finally a threat of litigation to make them refund my $$, I guess they "used" it to artificially inflate their monthly earnings statement to the shareholders.............

GC/MF are the Wal-Mart of guitars etc........I hope they both go under!!!!

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Post subject: Re: Fender IPO - Guitar Center May Default!
Posted: Wed Jul 18, 2012 2:19 am
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Bender 4 Life wrote:
GC/MF are the Wal-Mart of guitars etc........I hope they both go under!!!!


I love it when you talk dirty.

:D

Arjay

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Post subject: Re: Fender IPO - Guitar Center May Default!
Posted: Wed Jul 18, 2012 4:26 am
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Well, that pretty much says it all. The only thing Guitar Center is good for, is trying out equipment before ordering from Sweetwater, I've had tremendous luck with them. Isn't it a shame when you consider a good buying experience , fortunate?

Buying guitars and amps and stuff should be a good time.

At least the Pirates won last night.


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Post subject: Re: Fender IPO - Guitar Center May Default!
Posted: Wed Jul 18, 2012 7:26 am
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somebizarredude wrote:
you know i never understood why Mussolini got such a bad reputation, he seems like a smart guy :mrgreen:


It was because his artillery ordered ziti instead of shells. :lol: :lol: :lol:

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Post subject: Re: Fender IPO - Guitar Center May Default!
Posted: Wed Jul 18, 2012 8:03 am
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Post subject: Re: Fender IPO - Guitar Center May Default!
Posted: Sat Jul 21, 2012 5:37 am
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somebizarredude wrote:
If Gc does go out, i don't think fender will take that huge of a hit. they will just be replaced by some other mass chain. also I am not sure why he is mentioning fenders vacuum tube sources, aren't those the only current manufacturing sources? :?


The problem is GC owes Fender 11 million dollars.


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Post subject: Re: Fender IPO - Guitar Center May Default!
Posted: Sat Jul 21, 2012 6:28 am
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Also, according to money.cnn.com Fender had $700 million in sales, 25% in Europe, but they have a $257 million debt, too. The IPO would have yielded Fender $90M.


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Post subject: Re: Fender IPO - Guitar Center May Default!
Posted: Sat Jul 21, 2012 6:39 am
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Well, the IPO has been canceled now, due largely, I am sure, to the large number of analysts telling traders NOT to invest in Fender. The only reason to buy Fender stock is to try, eventually, to make money and that looks unlikely. One other thing that I thought was interesting in the article I linked to in the original post:

"The company is expected to price its offering next week, selling a total of 10.7 million shares at between $13 and $15 each. A selling shareholder is selling 3.6 million of those shares."

I thought it interesting that ONE shareholder was going to be selling 3.6 million shares - that's a LOT of shares for one person to be holding and roughly 1/3 of the total number of shares being offered. I wonder if someone was ready to get out for good?

I do think it would have been nice to have a certificate for ONE share of Fender stock framed and hanging on the wall...

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Post subject: Re: Fender IPO - Guitar Center May Default!
Posted: Sat Jul 21, 2012 9:00 am
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CRGuitarMan wrote:



I do think it would have been nice to have a certificate for ONE share of Fender stock framed and hanging on the wall...

Exactly, I am a little bummed now.. I intended to get a share for every fender I currently own. O well

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Post subject: Re: Fender IPO - Guitar Center May Default!
Posted: Sat Jul 21, 2012 9:14 am
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Ding dong with the witch (fascism) is dead, the witch is dead, the witch is dead, ding dong with wicked witch is deadddddd.

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Post subject: Re: Fender IPO - Guitar Center May Default!
Posted: Sun Jul 22, 2012 10:52 pm
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CRGuitarMan wrote:
I thought it interesting that ONE shareholder was going to be selling 3.6 million shares - that's a LOT of shares for one person to be holding and roughly 1/3 of the total number of shares being offered. I wonder if someone was ready to get out for good?


never knew Henry J. was a panic seller....... :lol:

Arjay........how's THAT for "talking dirty"??

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Post subject: Re: Fender IPO - Guitar Center May Default!
Posted: Mon Jul 23, 2012 6:58 am
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GC owing Fender isn't a problem at all.

If Fender has annual revenue of $700 million, and GS does 15% then GS buy $105 million from Fender every year. Or about $8.75 million per month. So GC owes Fender about 1.5 months worth of purchases. Really very current and not a problem at all.

The current owners were expecting to put $70 to $80 million into their own pockets. If the ipo raises $160, fees will be about 5%, say $10 million. So $160, $10 for fees, $80 to the company, $70 to the current owers.

We don't know if this is good or bad for the current owners. If this originally cost them $10 then they made a $70 million profit. If this originally cost them $100 they just lost $20 to $30, million. My guess is they would have made some profit, but just a guess.


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Post subject: Re: Fender IPO - Guitar Center May Default!
Posted: Mon Jul 23, 2012 7:33 am
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According to the Fortune magazine article from the other thread:

Quote:
Weston Presidio paid $57.8 million for its stake in Fender back in December 2001. Fender used the money from the sale to help pay the shareholders who had orchestrated Fender's buyout from CBS in 1985. In 2005, Weston Presidio recapitalized the company thanks to a $320 million debt-financing package from Goldman Sachs (GS). Under terms of the deal, Fender had to pay Weston Presidio (along with other shareholders and employees) a total of $215 million in dividends and bonuses


They already got paid.


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