Gibsons walking a fine line!

Wheee! Another Gibson thread!

I’m noticing two major waves of reporting on this. There was the initial wave of angst on the guitar and bass forums, and then the mainstream folks like WBZ are picking up on it now, like six weeks later.

 

I say let them go under. They honestly have no one to blame but themselves for it happening...

I'm looking forward to more news stories and threads coming out again soon about how Guitar Center is going under too.

 

the brand will go on as it has before

 

Earlier this week reports were circulating that Gibson Guitars was in financial trouble. However, in response to these reports, Gibson has released a statement that says the company is working on refinancing and does not expect to suffer the dire consequences that its largest creditor, Moody's, said would likely occur. While Moody's stated that Gibson was facing the possibility of bankruptcy or selling stock to meet its obligations, Gibson responded "we have met all current obligations to the bondholders, is in the process of arranging a new credit facility to replace the bonds, and fully expects the bonds to be refinanced in the ordinary course of business." Gibson Chairman and CEO Henry Juszkiewicz added, "These bonds expire as all fixed income instruments do at the end of their term." He also pointed out that the company has been working with Jefferies investment bank in a process to manage the refinancing process.

Juszkiewicz was later spotted at Big Lots buying what appeared to be a six-month's supply of assorted ramen noodles and later loading them into the back of a 1985 Ford Bronco.

 

That's funny right there, I dont care who you are!

BnB

 

If Gibson is to survive, Henry must be ejected and replaced with someone who knows what they're doing. Gibson isn't killing Gibson. Henry is.

 

Gibson Guitars: Creditors want CEO Henry Juszkiewicz to step down

Gibson Lays Off Custom Shop Workers

Chinese Investment Consortium Is Eyeing a Gibson Guitar Acquisition

 

Tsk! That would be a shame. I don't have any of their basses...but I love my Gibson guitars.

 

Beat me to it!

 

Gibson bought that great DAW Sonar and fired everyone except 4 to answer phones. No future support. Many many users commercial and civilian.

How ignorant.

 

On 21st November 2017, Gibson (Cakewalk's Parent company) announced that active development of Sonar would cease immediately. Noel Borthwick (Sonar Chief Technical Officer) also posted the announcement on the Cakewalk forum.

BandLab Technologies — the company behind social music platform BandLab, as well as Rolling Stone magazine, Mono cases, Harmony Guitars and more — have announced the acquisition of certain assets and the complete set of intellectual property of Cakewalk Inc. from Gibson Brands.

 

It's the new way

 

The clip in post 10 above is some common sense stuff as to bad decisions by Gibson. And in this market they're right. There are some really beloved Gibson instruments that can always be good sellers for them with a competitive pricing damn it: SG's and Les Pauls for instance. And really, the EB line of basses, if they took away head dive and upped their game with the pups it could rise in popularity. And as pointed out--the head breaking thing---gotta go. Don't hear too much about such breakage being expected--except on Gibsons.

Damn it-----every company has the right to fail and Gibson has been too close to the line with self-induced problems it seems........

 

Put the word "Gibson" instead of "Cup" and you have it.

 

I hate to see any American company go under, especially one with a legacy such as Gibson, but they did/are doing it to themselves.

 

The discussion of this on acoustic fora largely centers around marketing practices, especially the insistence on only selling through very high volume vendors who will stock the entire line.

 

I really don't know why everyone on here, and other sites is so OMG, Gibson is in bad financial straights. Other companies are too, including the government of The United Staes OF America.