Except that Tacoma's QC had already plummeted before FMIC bought them.
(Full disclosure: I learned to play on my mothers 1973 Guild acoustic, so I'm pretty heavily biased. This will also veer wildly off topic.)
I sold Tacoma's for quite some time, including the "transitional" period instruments. I think their primary problem was that they were True Believers. They genuinely believed their designs would change the market, and that would be enough to carry them as a company. And they genuinely did make some really neat stuff. The second generation (when they switched from Fishman electronics to L.R. Baggs, before FMIC switched them back to Fishman IIRC) of the Thunderchief were, in my mind, a benchmark for ABG's that has yet to be met by anything remotely near that price point. Even that weird little 12-string Papoose was an absolute blast. The electric six-string version with the built in overdrive was almost cooler. But they bit off more than they could chew.
Yes, there was that infamous bad batch of finish. However, I've only seen one of these in the wild, and most of them seem to reach a flaking plateau of sorts (which means you can get some screaming deals on some high-quality stuff.) Maybe they liked us because we were a small, independent store, but everything we got from them was top-notch. I remember this quilted Koa acoustic... unf. I could probably still draw the grain pattern from memory. $2,500+ and it sold in like two months. The Olympia brand, however, was complete, utter shite. We had to send like a third of them back.
But to my main point. Tacoma was making great stuff, they just hadn't figured out that "making great money" bit. So, in comes Fender to save the day. They preserved most of the core design concepts, but ironically destroyed the finish. They started slathering them under 1/8" of cheap poly, and THEN the QC went downhill. I don't remember if they discontinued or somehow made the Olympia line even worse, but we dropped them like a warm bag of fresh dog feces when nobody's looking.
I think this was a learning experience for FMIC. It was during this time they moved Guild production from the Corona plant (which was, and remains, an absolute joke,) and shifted production to the Tacoma plant. It was a complete reboot, so dramatic that it would make even Batman blush. Unfortunately it was too late for Tacoma, and while they went softly into that sweet night, Guild was moved to the Ovation plant. In spite of my seething hatred of all things Ovation, the quality of their American instruments was actually pretty good. They came up with some neat, traditional designs, and their high-high-end stuff was
incredible. But more importantly they started the GAD line; "Guild Acoustic Designs." Whilst I'm not sure who exactly made them, it was, on the surface, just a basic Chinese import line.
But it was
awesome. My favorite guitarist, James Blackshaw, partially retired his 70's 12-string for a GAD - even without an endorsement. I played several Chinese Guilds, and, to my ears, they were indistinguishable from the basic American models. Compared to comparable American brands, the GAD's blew them out of the water. We had serious discussions A/B'ing GAD's and production Taylors, and lets just say Bob wouldn't have appreciated the results.
I can't speak to the quality of contemporary electric Guilds - I'm simply out of the loop. But I'm praying against all hope that they keep that line running.
As far as Cordoba... I'll have to reiterate my opinion of "meh." From a tonal POV, I admit that I'm not the best judge of Cordoba guitars, or classical guitars in general. Nylon string instruments are really just not my thing. But from Customer Experience, buyers are basically split into three groups: those with a lot of money who spend ten minutes with the guitar before buying it, those who play one and (rightfully) complain that it sounds like plastic, and those who order instruments costing in the thousands without ever hearing it. Make of that what you will.
That being said, Cordoba is an extremely well run company. They're very easy to deal with, but more importantly, seem to take great pride in their work. I can't say if that's because they're also True Believers, or if their profit margins allow them to just take any ol' hunk o junk back without question, but if you don't like what you ordered, they bend over backwards to the point where they're standing upright again to fix it.
In short,
I want to believe. I think it's obvious they'll focus on acoustic instruments. But I hope they'll at least make a wink and a nod at their electric instruments, outsourcing to whatever Chinese group made the fantastic GAD series.
Anywho, ye ol' Ambien is hitting pretty hard, so I'm signing off (which should explain the length of this response.)
Just have faith. Guild is like a Phoenix; it somehow keeps coming back.