Moody's downgrades Gibson

[Dave W]

Gibson Brands hit with credit downgrade

It's not just the 2015 sales fiasco. Highly leveraged, tons of near term debt coming due, etc. Not a pretty situation.

[Rob]

Pretty bleak as it stands. . . .explains no new tooling

[dadagoboi]

Pretty bleak as it stands. . . .explains no new tooling

For the last 50 years?

[Rob]

LMAO!  NO! that made sense hahahaha

[Highlander]

I thought this was about Mick Moody... oh well...

[Dave W]

I laughed when I read ""While we experienced a soft reception to our 2015 products..."

Right, Henry. In the same way Napoleon experienced a soft reception at Waterloo.

[dadagoboi]

I laughed when I read ""While we experienced a soft reception to our 2015 products..."

Right, Henry. In the same way Napoleon experienced a soft reception at Waterloo.

 

Cardinal rule of an established business, "Ask your customers what they want."  You don't have to act on it but it might give you some insight as to what to try to sell them.

[exiledarchangel]

Just heard that Thomann will stop selling Gibsons, dunno if its true.

[doombass]

Cardinal rule of an established business, "Ask your customers what they want."  You don't have to act on it but it might give you some insight as to what to try to sell them.

Let's hope the new CFO pops the question.

[Aussie Mark]

I laughed when I read ""While we experienced a soft reception to our 2015 products..."

So true.  I haven't jerked off to a Gibson catalogue since the 1970s.

[66Atlas]

Luckily they are set to have a massive windfall of cash from their Spongebob Squarepants lawsuit.  Seems like they've got their priorities a tad off.

[Dave W]

Just heard that Thomann will stop selling Gibsons, dunno if its true.

A few months ago I saw that rumor at one of the Les Paul forums because at the time they didn't have any shown on their website. But now they do.

So true.  I haven't jerked off to a Gibson catalogue since the 1970s.

 

[neepheid]

Gibson Chairman and CEO Henry Juszkiewicz said. "While we experienced a soft reception to our 2015 products, we have since introduced our improved 2016 product line that is performing extremely well both in sales to retailers and sell through to consumers globally. We feel we are on an upward trend, poised for an excellent year and are confident of the future."

Bassists around the world - "O RLY?"

[Alanko]

Nothing makes sounder business sense that suing a cartoon bathing sponge that lives at the bottom of the sea. I hope they remembered to laminate everything!

[uwe]

That rating just went from already bad ("speculative and a high credit risk") to terrible ("poor quality and very high credit risk"). The next step is "highly speculative and with likelihood of being near or in default, but some possibility of recovering principal and interest". 

I can already hear some private equiteers smacking their lips - it would be ironic if Henry J, the former investment banker, had to sell to a private equity fund himself.