Gibson guitars facing bankruptcy!

[Uncle Fiesta]

... our generation was knocked as well if you remember. long haired louts playing dreadfull music ect ...

With good reason, most of it was dreadful! But now that we're older we look back with rose-tinted glasses and only remember the good stuff.

rubbish

So do you have an alternative theory, or is 'rubbish' all you can offer? Any idiot could say that.

[kipper]

seems like all I have is rubbish to offer I`m afraid. if that makes me an idiot so be it. not one of the clever people who have all the answers, but I do know it is not as you said this present generations fault that's my opinion. I also don't think the music back then was dreadful, again just my opinion. peter

[Tigerdaisy]

seems like all I have is rubbish to offer I`m afraid. if that makes me an idiot so be it. not one of the clever people who have all the answers, but I do know it is not as you said this present generations fault that's my opinion. I also don't think the music back then was dreadful, again just my opinion. peter

Yes, you are correct- it's not the fault of the younger generation- who can only operate in the environment that currently existed at any given time.

[RogerF]

The bankruptcy problem with Gibson has relatively little to do with the guitar business. No matter how much we deplore what Henry J has done to staff motivation, dealer networks, QC and plain arrogant ignorance of the people who actually buy their guitars, their current bankruptcy problem lies elsewhere.
The Gibson guitar business is still probably profit-making but what is killing Gibson's status is the fact that Henry J's megelomania sent him out into the world buying up a whole load of companies on borrowed money. Unfortunately for Henry, these acquisitions turned out to be less profitable (in some cases not profiatable at all) and this summer Gibson has to come up with serious mega dollars to pay back the loans and bond holders who financed these acquisitions - it is almost certain that Gibson will be unable to pay off the debt due. Many investors are actually saying they want to see Henry go as CEO before agreeing any re-financing of the debt.
The only good thing is that it probably means the end of the road for Henry at Gibson so let's hope whoever takes over as CEO knows what they're doing and can turn both the guitar business and the other acquisitions around.

[drakula63]

https://www.wsj.com/articles/guitar-mak ... 1525177170





BUSINESS
Guitar-Maker Gibson Brands Files for Bankruptcy
Company has struggled with its debt load after a series of acquisitions

[Tigerdaisy]

The Telegraph has an article about Gibson's current bankruptcy. It shows a pic of Eric Clapton playing a Strat with a caption saying that Clapton is a great supporter of Gibson guitars... This illustrates how reliable newspapers are for information.

[GoldenStreet]

At least the cover of today's Telegraph business supplement shows Keith Richards with a genuine ES355!

Bill