Where do you see Henry the J, in this plan?
Gone.
Somebody has to take the fall. That’s the way it usually works in a refinancing move or a bail-out. A sacrifical lamb is called for. And Mr. J is more deserving of that role than many other CEOs who have been made to fall on the proverbial sword for far smaller messes IMO.
I also think there’s something fundamentally wrong with him based on his increasingly erratic behavior over the last several years. So not the sort of person you want to leave in charge in any event.
Seriously, the three-piece maple neck with volute, a hallmark of the Norlin years, was light-years better than the traditional (and, sadly, current) construction.