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Leo Fender, Tom Walker and Forrest White who were, respectively, the owner, a member of the sales force, and the plant manager of Fender, started Music Man under another name after all three had left the CBS-owned Fender company. The three developed a line of amplifiers, manufactured by the company under the new name of Music Man, and basses and guitars, made by Leo's CLF Research. CLF built the instruments according to sales orders from Music Man. In the early 1980s, quality problems began surfacing, with poorly applied finishes and improperly plated hardware first noticed. Then a batch of Sting Ray bass necks were made with straight truss rods, making them impossible to adjust. The Japanese importer went so far as to saw a neck in half, which proved the existence of the problem (a good friend of mine bought a used Sting Ray from that era and broke the truss rod trying to adjust it -- he also told me the bass had electronic glitches).
There was a lot of acrimony among the partners and between the two companies, and Fender started up a new company called G&L, named for himself and longtime employee and associate George Fullerton. Music Man, with no instruments to sell, ended up being sold to Ernie Ball, who had long been manufacturing strings (and had gotten into the bass building business with the Earthwood acoustic bass, designed with Fullerton's help).
The EB company improved quality and did some redesign on the existing guitars and basses, and introduced new ones. The pre-EB StingRays, for example, had slab bodies; EB contoured them and introduced the StingRay 5.
I just recently bought a '99 SR 5, and it's a gem. Many of the CLF Music Man StingRays were gems, too, but they are heavy and the lack of contouring makes them less comfortable.