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Post subject: New Fender President
Posted: Mon Apr 28, 2014 1:31 pm
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Bob Roback has been named FMIC's new President. http://www.mi-pro.co.uk/news/read/new-president-for-fender/018817

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Post subject: Re: New Fender President
Posted: Mon Apr 28, 2014 1:39 pm
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I was kinda pulling for this guy...

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Post subject: Re: New Fender President
Posted: Mon Apr 28, 2014 2:03 pm
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No guitar background, no amp background, no electromechanical background - it's all digital, licensing and IP.
I guess where Fender will be heading then.


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Post subject: Re: New Fender President
Posted: Mon Apr 28, 2014 3:37 pm
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"Meet the new boss, same as the old boss......!"

:roll:

(yawn)

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Post subject: Re: New Fender President
Posted: Mon Apr 28, 2014 4:38 pm
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arth1 wrote:
No guitar background, no amp background, no electromechanical background - it's all digital, licensing and IP.
I guess where Fender will be heading then.


Sounds just like Leo Fender doesn't it? 1)No guitar background: Leo never played and never learned how 2) No Amp Background: Leo was a tinkerer; and inventor, and an innovator. 3) No Electromechanical background: A self taught electrical engineer and radio repairman. Leo never went to college and studied to become a book-keeper in high school. Looks to me that FMIC is heading into a bright new tomorrow in the finest of Leo Fender traditions! 8)

Maybe you should take all your negativity and gloom-and-doom prognostications and write a hit song like The Rolling Stones did! :wink:

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Post subject: Re: New Fender President
Posted: Mon Apr 28, 2014 4:57 pm
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President of FMIC is not about being a musician, but rather the capability to run a Multimillion Dollar Corporation.... Interact with the shareholders and the ability to bring FMIC to greater profitability.. All the while not losing sight of what the brand represents...
There are plenty of people designated with the musical spectrum within the company...
Wish Mike Eldred was still around ( but that is another discussion ).....

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Post subject: Re: New Fender President
Posted: Mon Apr 28, 2014 5:11 pm
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53magnatone wrote:
There are plenty of people designated with the musical spectrum within the company...
Wish Mike Eldred was still around ( but that is another discussion ).....


Wait... what?

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Post subject: Re: New Fender President
Posted: Mon Apr 28, 2014 5:22 pm
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53magnatone wrote:
President of FMIC is not about being a musician, but rather the capability to run a Multimillion Dollar Corporation.... Interact with the shareholders and the ability to bring FMIC to greater profitability.. All the while not losing sight of what the brand represents...
There are plenty of people designated with the musical spectrum within the company...
Wish Mike Eldred was still around ( but that is another discussion ).....

True, and the shareholders are a small handful of wealthy individuals as FMIC is privately held. Mark Fukunaga is 'Mr. Big' and is the majority shareholder. From everything I've read he's a very much a futuristic visionary. He also plays guitar, and was a major investor right from the very beginning being part of the deal the bought Fender from CBS thus creating FMIC. He has by all accounts a genuine love of Fender. He would not have OK'd Rob Roback's appointment to President without complete confidence in his ability to lead Fender forward.


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Post subject: Re: New Fender President
Posted: Mon Apr 28, 2014 5:51 pm
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arth1 wrote:
No guitar background, no amp background, no electromechanical background - it's all digital, licensing and IP.
I guess where Fender will be heading then.


Marco Mattiaci, the new Ferrari Forumla 1 Team Principal has never worked for an F1 racing team. He went to the last race in China and sat on the pit wall and didn't say anything.

That's an important skill in any new situation, observe and see the problems with a fresh set of eyes before swinging the axe or bringing in major changes. Someone in overall charge believes that he is the person to do that job at this time, who are we to say otherwise?

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Post subject: Re: New Fender President
Posted: Mon Apr 28, 2014 6:18 pm
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GilgaFrank wrote:
Someone in overall charge believes that he is the person to do that job at this time, who are we to say otherwise?


I'm the guy who *might* write a check for a piece of gear that FMIC manufactures, that's who.

And with someone now driving the bus who has no connection whatsoever to the heritage of the company name, their product line(s), nor the people that use them on a daily basis, it doesn't exactly inspire confidence in the direction he intends to take the corporation. Not IMO anyway.

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Post subject: Re: New Fender President
Posted: Mon Apr 28, 2014 6:36 pm
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I don't get how people seem to know already the direction he'll be taking FMIC. He probably hasn't even finished arranging the house plants in his office yet and we're making prophesies of doom? Give the man a chance.

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Post subject: Re: New Fender President
Posted: Mon Apr 28, 2014 6:54 pm
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GilgaFrank wrote:
I don't get how people seem to know already the direction he'll be taking FMIC. He probably hasn't even finished arranging the house plants in his office yet and we're making prophesies of doom? Give the man a chance.


+1111! He'll boldly go where he's told to go. FMIC is a closely held company with some 6 or 7 investors. They call the shots.


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Post subject: Re: New Fender President
Posted: Mon Apr 28, 2014 7:09 pm
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Maybe he will right the ship. We shall see. I see fender going in the wrong direction as far as I'm concerned. However it doesn't really matter what I think. I see nothing but crap coming out anyway.


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Post subject: Re: New Fender President
Posted: Mon Apr 28, 2014 7:11 pm
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linnin wrote:
GilgaFrank wrote:
I don't get how people seem to know already the direction he'll be taking FMIC. He probably hasn't even finished arranging the house plants in his office yet and we're making prophesies of doom? Give the man a chance.


+1111! He'll boldly go where he's told to go. FMIC is a closely held company with some 6 or 7 investors. They call the shots.


If that is true...then so is this...♫ "Meet the new boss, same as the old boss......!" ♫

:roll:

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Post subject: Re: New Fender President
Posted: Mon Apr 28, 2014 7:55 pm
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linnin wrote:
GilgaFrank wrote:
I don't get how people seem to know already the direction he'll be taking FMIC. He probably hasn't even finished arranging the house plants in his office yet and we're making prophesies of doom? Give the man a chance.


+1111! He'll boldly go where he's told to go. FMIC is a closely held company with some 6 or 7 investors. They call the shots.


That was true before they amassed the debt they now have, much of which comes due soon ($237 million this year, according to New York Times - that's not small change for a company with a ~$350 million yearly revenue). Now Fender dances mainly to the tune of just one shareholder, Western Presidio, who financed the extra debt with the help of J.P. Morgan.

Western Presidio was the largest "investor" in GC too, but managed to get Bain to take over. And GC's debt increased radically as a result. Much of that long term debt comes due within a couple of years, and at present, there's no chance that GC will be able to pay it even though the stores are profitable. And GC is Fender's largest debtor and largest source of income, which is why this matters a great deal.
A sellout may be WP's plans for Fender too, after the IPO failed. But in any case, they want the loans paid back with compound interest and cream on top, and don't care what happens to Fender as long as they get their money and can pull out.

So no, I don't think it matters much if "Mr Big" plays guitar and likes Fender.


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