Gibsons walking a fine line!

Discussion in 'Basses [BG]' started by rockscott, Feb 22, 2018.

  1. rockscott


    Aug 28, 2010
    A major radio station (wbz) here in the northeast reported yesterday that Gibson is close to going under! I would hate to see that, not just because i own and like them! They are an American company, 124 years old, they build their instruments here with American labor! I just hate to see a company like that go away.
    Tanner5382 and Ghastly like this.
  2. Picton


    Aug 16, 2017
    Reading, MA
    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.
  3. klejst


    Oct 5, 2010
    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.
    bikeplate and lz4005 like this.
  4. fretno

    fretno Supporting Member

    May 10, 2009
    Los Angeles
    the brand will go on as it has before
    MonetBass, BurnOut and ajkula66 like this.
  5. jd56hawk

    jd56hawk Supporting Member

    Sep 12, 2011
    The Garden State
    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.
  6. That's funny right there, I dont care who you are!

    JIO, quickfix, bdgotoh and 3 others like this.
  7. Lownote38


    Aug 8, 2013
    Nashville, TN
    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.
    ajkula66, fenjazz, dmt and 1 other person like this.
  8. Tsk! That would be a shame. I don't have any of their basses...but I love my Gibson guitars.
    jd56hawk likes this.
  10. chadds


    Mar 18, 2000
    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.
  11. Snakeman1066

    Snakeman1066 Supporting Member

    Sep 17, 2007
    Central Valley
    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.
  12. JIO

    JIO Be seeing you. Gold Supporting Member Commercial User

    Jun 30, 2010
    The Mission SF/CA
    musician/artist/owner - Gildaxe
    It's the new way
  13. MEKer

    MEKer Supporting member

    May 30, 2006
    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........

  14. MEKer

    MEKer Supporting member

    May 30, 2006
    Put the word "Gibson" instead of "Cup" and you have it.

    damn it.jpg
    MattZilla likes this.
  15. Resonance129


    Feb 15, 2011
    jd56hawk and MobileHolmes like this.
  16. Tanner5382

    Tanner5382 Supporting Member

    Sep 26, 2010
    Georgia, USA
    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.
    jd56hawk likes this.
  17. mikeoso

    mikeoso Acoustic Curmudgeon

    Feb 14, 2014
    eastern Iowa
    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.
  18. west al

    west al Road Rex (Road King) Supporting Member

    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.
    Herrick and BurnOut like this.
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