badbluesplayer Posted October 20, 2017 Share Posted October 20, 2017 Memphis Daily News Article Link to comment Share on other sites More sharing options...
merciful-evans Posted October 20, 2017 Share Posted October 20, 2017 despite the down size it looks like production isnt affected. Thats the main thing I suppose. Its sad that Gibson couldnt justify the groundrent/rates/whateveritis in USA, by continuing shows at Beale St. Link to comment Share on other sites More sharing options...
american cheez Posted October 20, 2017 Share Posted October 20, 2017 despite the down size it looks like production isnt affected. Thats the main thing I suppose. Its sad that Gibson couldnt justify the groundrent/rates/whateveritis in USA, by continuing shows at Beale St. i'm no expert, but i am guessing that someone realized the "entertainment facility" wasn't being utilized. their next thought was "if we dump it, we can move production into a pole barn for far less money. then we can sell the prime real estate for profit." Link to comment Share on other sites More sharing options...
krock Posted October 23, 2017 Share Posted October 23, 2017 Whats more interesting is that they're in $520 million debt so moving out of this $17 million facility is just scratching the surface. I'm interested to see what the next few years hold for their product line. Moody's has downgraded their credit rating as well so borrowing will only get more expensive for them Link to comment Share on other sites More sharing options...
Retired Posted October 23, 2017 Share Posted October 23, 2017 Just saw that on Facebook this morning. Link to comment Share on other sites More sharing options...
LarryUK Posted October 24, 2017 Share Posted October 24, 2017 It’s clear that Gibson have a problem with the product, management and it’s public perception. I rarely see anything positive about them any more. When you see 10 models of the same guitar but have a price difference of $4k or more. Something is wrong. The greed that must be in the board room. I’d love to know what the management take for themselves. In my own opinion. I think a new owner is needed and Gibson needs reinventing with the guitar playing public being involved. The headstock needs sorting on the Les Paul, so perhaps the custom shop should carry on with less stupid models and the USA line be reinvented. Perhaps change the head angle? But whatever happens, quality has to improve or they will go under, Link to comment Share on other sites More sharing options...
'Scales Posted October 24, 2017 Share Posted October 24, 2017 It's all a bit sad, but there's surely still strength in the brand name so maybe a wealthy Russian or Chinese or whoever might pick themselves up a bargain next year and breathe some dollars and direction into the business. I hope so anyway. ...or we'll all have to move to some damned ukulele board! Link to comment Share on other sites More sharing options...
Ceptorman Posted October 24, 2017 Share Posted October 24, 2017 I didn't realize the company was this bad off. I've always wanted a LP and recently bought one. I hope it can be worked out and the company can thrive again. Link to comment Share on other sites More sharing options...
krock Posted October 24, 2017 Share Posted October 24, 2017 It's all a bit sad, but there's surely still strength in the brand name so maybe a wealthy Russian or Chinese or whoever might pick themselves up a bargain next year and breath some dollars and direction into the business. I hope so anyway. ...or we'll all have to move to some damned ukulele board! I thought someone would end up buying them out too. It wouldnt be anything new for gibson considering it was owned by Norlin from 1969-1986 and was then taken over by the current private company. The same has happened for a lot of the big boys. Phillip McKnight did a good video on this subject a while back Link to comment Share on other sites More sharing options...
Murph Posted October 24, 2017 Share Posted October 24, 2017 Debt is just #'s to Henry / Gibson. Remember folks, he SAVED the Company. Link to comment Share on other sites More sharing options...
LarryUK Posted October 24, 2017 Share Posted October 24, 2017 http://forum.ukuleleunderground.com/. See you there. Link to comment Share on other sites More sharing options...
Riffster Posted October 24, 2017 Share Posted October 24, 2017 It’s clear that Gibson have a problem with the product, management and it’s public perception. I rarely see anything positive about them any more. When you see 10 models of the same guitar but have a price difference of $4k or more. Something is wrong. The greed that must be in the board room. I’d love to know what the management take for themselves. In my own opinion. I think a new owner is needed and Gibson needs reinventing with the guitar playing public being involved. The headstock needs sorting on the Les Paul, so perhaps the custom shop should carry on with less stupid models and the USA line be reinvented. Perhaps change the head angle? But whatever happens, quality has to improve or they will go under, Their quality is spotty but more guitars are well made than not, perception is important but you are only going to see the bad news on the media. I never saw an article on how fantastic my Explorer is or how killer my R8 is. Say if they make 500 guitars in one day and one has a defect you are going to hear about that one guitar more then you will hear about the other 499, then the next day it'll be the same all over again. Gibson is a bigger target because their guitars are expensive and some of those who cannot afford them feel marginalized by their prices and they feel compelled to complain, in many cases people complaining in social media and if there is blood on the water the media moves in. If Gibson stops making guitars at different price points then it will be only expensive guitars. I am more surprised Fender is still in business, more people make and play copies and good parts are widely available, even the custom shop stuff is not at par with independent builders. It is a little tougher to properly copy a Gibson. This factory move makes sense to me, even if I did not know anything else about the finances of the company, I have been to the factory twice a few years apart and it was a noticeable change in the area, Gibson does not need that building and it if helps even a bit to move production why not? . IMO the entire market is very saturated, so many companies and so many options and I am not sure the interest will be there from future generations. Link to comment Share on other sites More sharing options...
'Scales Posted October 24, 2017 Share Posted October 24, 2017 http://forum.ukuleleunderground.com/. See you there. The cockroaches of the fretted world - uke's will survive no matter what! Riffster - Gibson's credit rating is now at the same level as Mozambique and Venezuela - that's Venezuela as in 'how many 0's do we print on the currency notes this week?', so not candidates for low interest and they need to refinance half a billion+ US next year on dwindling income. I'm cheering for them, but it's going to need something other than business as usual or sell an old factory to pull through (?) Link to comment Share on other sites More sharing options...
Riffster Posted October 24, 2017 Share Posted October 24, 2017 The cockroaches of the fretted world - uke's will survive no matter what! Riffster - Gibson's credit rating is now at the same level as Mozambique and Venezuela - that's Venezuela as in 'how many 0's do we print on the currency notes this week?', so not candidates for low interest and they need to refinance half a billion+ US next year on dwindling income. I'm cheering for them, but it's going to need something other than business as usual or sell an old factory to pull through (?) Oh I get it, I have an accounting and finance degree, but you have to start somewhere or at least try of course it is going to take a lot to get out of this hole, I do not think selling the building was the solution but like I said it helps a bit. Why would it make sense to keep it under the circumstances? If we look at the numbers the way they are presented then they are doomed, same as GC and Fender...and Venezuela (tongue in cheek,somehow those places just keep going). Link to comment Share on other sites More sharing options...
SteveFord Posted October 24, 2017 Share Posted October 24, 2017 Here's a crazy thought: maybe they should go back to being a guitar company and forget that Family of Brands/Lifestyle stuff. Link to comment Share on other sites More sharing options...
merciful-evans Posted October 25, 2017 Share Posted October 25, 2017 It's all a bit sad, but there's surely still strength in the brand name so maybe a wealthy Russian or Chinese or whoever might pick themselves up a bargain next year and breathe some dollars and direction into the business. I hope so anyway. Guitars for the people... https://www.premierguitar.com/articles/24921-russian-guitars-beasts-from-the-east?page=4 Maybe Gibson could relocate to Epiphone's Qingdao plant in China? Think of it; Custom shop Chibsons! Salvation?: PRS seem a very profitable business Link to comment Share on other sites More sharing options...
'Scales Posted October 25, 2017 Share Posted October 25, 2017 Maybe Gibson could relocate to Epiphone's Qingdao plant in China? Think of it; Custom shop Chibsons! Or Japan. Then they could sue themselves and market a range of Lawsuit models. Link to comment Share on other sites More sharing options...
Karloff Posted October 25, 2017 Share Posted October 25, 2017 They need to get rid of the CEO. Link to comment Share on other sites More sharing options...
Eracer_Team Posted October 27, 2017 Share Posted October 27, 2017 They need to get rid of the CEO. Kind of hard when he's the owner through Link to comment Share on other sites More sharing options...
krock Posted October 27, 2017 Share Posted October 27, 2017 Kind of hard when he's the owner through He'll retire soon enough anyway. He's 64 years old Link to comment Share on other sites More sharing options...
GuitarGeordie Posted October 27, 2017 Share Posted October 27, 2017 Debt is just #'s to Henry / Gibson. Remember folks, he SAVED the Company. Henry Gibson? Wasn't he the poet on Rowan and Martin's Laugh In?Rowan & Martin's Laugh-InAmerican television program Link to comment Share on other sites More sharing options...
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