The Last Bass Outpost

Gear Discussion Forums => Gibson Basses => Topic started by: Dave W on April 28, 2018, 04:31:39 PM

Title: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: Dave W on April 28, 2018, 04:31:39 PM: According to poster Inside Guy at MLP -- now a former Gibson employee but still privy to inside information -- an era has ended and an official press release is coming on Monday. He didn't come right out and say it was about Gibson but he's not prone to deceiving people.

In the meantime, I'm warming up the ol' pipes.

https://www.youtube.com/watch?v=gmQuIpM4h6A

https://www.youtube.com/watch?v=jsaTElBljOE
Title: Re: Stay tuned...
Post by: Grog on April 29, 2018, 05:48:56 AM: https://www.youtube.com/watch?v=j5yiJfzCHFA
Title: Re: Stay tuned...
Post by: Basvarken on April 30, 2018, 01:07:54 PM: Any news yet? :popcorn:
Title: Re: Stay tuned...
Post by: Alanko on April 30, 2018, 02:08:42 PM: The Six Wives of Henry JIII.

(https://www.thefamouspeople.com/profiles/images/henry-viii-of-england-1.jpg)
Title: Re: Stay tuned...
Post by: Dave W on April 30, 2018, 02:13:28 PM: Quote from: Basvarken on April 30, 2018, 01:07:54 PM
Any news yet? :popcorn:

Nothing yet, maybe it isn't going to happen today. Inside Guy made it clear earlier today that he was definitely talking about Gibson. "Big news coming about the future of Gibson. The whole Gibson company past and present are eagerly waiting too." I'm sure he has to protect his sources and can't say more yet. In any case, he's a no-BS guy who hasn't misled in the past.
Title: Re: Stay tuned...
Post by: FrankieTbird on April 30, 2018, 03:31:22 PM: Quote from: Dave W on April 28, 2018, 04:31:39 PM
According to poster Inside Guy at MLP --

My Little Pony?
Title: Re: Stay tuned...
Post by: Dave W on May 01, 2018, 06:08:33 AM: And here it is, a day late: Gibson will be reorganizing under Chapter 11.

Gibson Brands Reaches Restructuring Support Agreement to Reorganize Around Core Businesses (https://www.prnewswire.com/news-releases/gibson-brands-reaches-restructuring-support-agreement-to-reorganize-around-core-businesses-300639935.html)

Henry Juszkiewicz, Chairman and Chief Executive Officer of Gibson Brands, and David Berryman, Gibson's President, will each continue with the Company upon emergence from Chapter 11 to facilitate a smooth transition during this change of control transaction and to support the Company in realizing future value from its core business.

The way I read this, the "change of control" Henry and Berryman will be gone after Gibson emerges from Chapter 11. The financiers will own the company.

Keep in mind that this will be subject to bankruptcy court approval. OTOH this kind of action isn't unusual.
Title: Re: Stay tuned... (UPDATED)
Post by: Dave W on May 01, 2018, 06:17:20 AM: Further from Bloomberg (https://www.bloomberg.com/news/articles/2018-05-01/gibson-files-for-bankruptcy-with-deal-to-renew-guitar-business) and Reuters (https://www.reuters.com/article/brief-gibson-brands-reaches-restructurin/brief-gibson-brands-reaches-restructuring-support-agreement-to-reorganize-around-core-businesses-idUSASC09YH1).

From the Bloomberg article: According to court filings, current noteholders include Silver Point Capital, Melody Capital Partners LP, and funds affiliated with KKR Credit Advisors.
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: Rob on May 01, 2018, 07:12:22 AM: I'm not surprised that they held the release until the first of the month.
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: Dave W on May 01, 2018, 01:00:10 PM: From one of the articles: "Gibson’s existing equity will be canceled under a proposed Chapter 11 plan, which requires court approval, but Mr. Juszkiewicz will stay on as $2.1 million a year consultant to the new owners. Mr. Berryman is being retained for one year at a salary $3.35 million. Both men will each receive 5-year warrants for up to 2.25% of the reorganized company’s stock. "

Translation: they'll be there in name only for a year with a nice severance and will have an option to own a small part of the new Gibson.
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: Granny Gremlin on May 01, 2018, 02:08:55 PM: Aaaaaaaaaaaaaaaaaaaaaaand that is why Gibsons cost so much. So Henry J can live the life of Riley under a golden parachute.
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: slinkp on May 01, 2018, 02:32:45 PM: What do you think was the combined salary of the 15 people they just canned from the custom shop?
Do you think it added up to $5.45 million? Hell no.
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: gearHed289 on May 01, 2018, 02:50:38 PM: Stolen from facebook. 8)

(https://scontent.ford1-1.fna.fbcdn.net/v/t1.0-9/31671237_10156013286328141_9012907012874305536_n.jpg?_nc_cat=0&oh=5cf4b90f9bc95b28b4adf59cf28e1ee9&oe=5B4F349B)
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: Dave W on May 01, 2018, 06:43:48 PM: Quote from: Granny Gremlin on May 01, 2018, 02:08:55 PM
Aaaaaaaaaaaaaaaaaaaaaaand that is why Gibsons cost so much. So Henry J can live the life of Riley under a golden parachute.

Quote from: slinkp on May 01, 2018, 02:32:45 PM
What do you think was the combined salary of the 15 people they just canned from the custom shop?
Do you think it added up to $5.45 million? Hell no.

It does look excessive, but keep in mind that it's really a form of compensation for their equity in the company. Even though neither of them will be poor, they've lost millions in equity.
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: uwe on May 02, 2018, 07:36:18 AM: (https://ramblingsofacinephile.files.wordpress.com/2015/05/2kindpeople-goodbandugly-guns.gif)

Henry J was just demoted to ... digger .
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: uwe on May 02, 2018, 07:41:54 AM: "Gibson’s existing equity will be canceled under a proposed Chapter 11 plan, which requires court approval, but Mr. Juszkiewicz will stay on as $2.1 million a year consultant to the new owners. Mr. Berryman is being retained for one year at a salary $3.35 million. Both men will each receive 5-year warrants for up to 2.25% of the reorganized company’s stock. "

In ousted management currency, that is a pittance of a golden handshake, especially for Henry. A bribe to make him cooperate, nothing more. He is history.

I think I'm not unpacking my RD Artist Reissue then, the last NOS instruments of the "pre-insolvency era" will become worth gazillions!!! :mrgreen:

Also, try as I might, but that "bankruptcy estate of"-after market-decal that is now to go above the "Gibson" on the headstock looks kinda crowded to me ...
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: Dave W on May 02, 2018, 12:25:15 PM: Quote from: uwe on May 02, 2018, 07:41:54 AM
...

I think I'm not unpacking my RD Artist Reissue then, the last NOS instruments of the "pre-insolvency era" will become worth gazillions!!! :mrgreen:

Also, try as I might, but that "bankruptcy estate of"-after market-decal that is now to go above the "Gibson" on the headstock looks kinda crowded to me ...

Congratulations, you have one of the last of the genuine Henry-era Gibsons! It would be worth even more if it had a lawsuit-era G-Force. :mrgreen:
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: Dave W on May 02, 2018, 12:34:36 PM: Here's the filing: https://new.reorg-research.com/data/firstday/437046_0.pdf

A list of the 30 largest unsecured creditors starts on page 15. This doesn't mean they were all past due as of yesterday, but it's eye-opening. I had heard that they had refused to pay their largest hard wood supplier when things got tight and essentially said "sue us" -- now I see that they list $971,000 due to Pacific Western Timbers. :o They list $133,000 owed to GHS -- that's a lot of strings! And $118,000 to L.R. Baggs. As unsecured creditors, some of these companies will likely really get screwed.
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: wellREDman on May 02, 2018, 12:47:04 PM: Quote from: gearHed289 on May 01, 2018, 02:50:38 PM

(https://scontent.ford1-1.fna.fbcdn.net/v/t1.0-9/31671237_10156013286328141_9012907012874305536_n.jpg?_nc_cat=0&oh=5cf4b90f9bc95b28b4adf59cf28e1ee9&oe=5B4F349B)

Damn came here to post the same meme
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: uwe on May 02, 2018, 03:31:30 PM: Flash thought: After we had a Mon(k)ey Bass some time ago, perhaps it's time for a new model?

Gibson opens a new chapter (11) in its history ...
Unleash the Administrator in you: Introducing the Bankruptcy Ba$$!!!

First 100 shipments delivered with hard case in unique coffin look at no
extra charge!!! Built from 100% certified ~~unholy~~ unpaid wood ...

(http://66.media.tumblr.com/30630ba77881e377e518dc4c83123747/tumblr_ochtisYZ0r1ut1d6co1_500.gif)
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: gearHed289 on May 03, 2018, 07:55:11 AM: Quote from: Dave W on May 02, 2018, 12:34:36 PM
they list $971,000 due to Pacific Western Timbers. :o They list $133,000 owed to GHS -- that's a lot of strings! And $118,000 to L.R. Baggs. As unsecured creditors, some of these companies will likely really get screwed.

How do you keep shipping materials to someone that owes you so much money???
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: Dave W on May 03, 2018, 08:53:36 AM: Quote from: gearHed289 on May 03, 2018, 07:55:11 AM
How do you keep shipping materials to someone that owes you so much money???

Hard to say. For all we know, they may have owed millions at one time.

Quote from: uwe on May 02, 2018, 03:31:30 PM
Flash thought: After we had a Mon(k)ey Bass some time ago, perhaps it's time for a new model?

Gibson opens a new chapter (11) in its history ...

Unleash the Administrator in you: Introducing the Bankruptcy Ba$$!!!

First 100 shipments delivered with hard case in unique coffin look at no
extra charge!!! Built from 100% certified ~~unholy~~ unpaid wood ...

(http://66.media.tumblr.com/30630ba77881e377e518dc4c83123747/tumblr_ochtisYZ0r1ut1d6co1_500.gif)

Is that the new Max Schreck Signature Model?
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: Pilgrim on May 03, 2018, 09:40:06 AM: Quote from: Dave W on May 03, 2018, 08:53:36 AM

Is that the new Max Schreck Signature Model?

Every one signed by Count Orlock!

http://www.hpwood.net/blog/2016/6/3/the-real-story-count-orloff
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: 4stringer77 on May 03, 2018, 12:08:43 PM: Wonder what RD stands for anyway? At this point perhaps it means refunds denied. I love my $ bass and I think Uwe must have appreciated it enough to put the resources into converting one to fretless. If they only kept making them, perhaps things would be different.
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: uwe on May 03, 2018, 02:35:51 PM: I think we established at one point with the help of a former Gibson employee that RD stands for Research & Design. Other theories such as that is was the initials of Ray(mond) Dietrich (the Detroit auto designer that designed the original reverse TBird) were discarded though what became the RD was initially slated as a new - modernized - Thunderbird.
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: Pilgrim on May 03, 2018, 05:37:30 PM: Interesting. I thought it might stand for Relic by Default. ;)
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: planetgaffnet on May 04, 2018, 07:11:13 AM: Quote from: 4stringer77 on May 03, 2018, 12:08:43 PM
Wonder what RD stands for anyway? At this point perhaps it means refunds denied. I love my $ bass and I think Uwe must have appreciated it enough to put the resources into converting one to fretless. If they only kept making them, perhaps things would be different.

Isn't the key sentence here, 'If they only kept making them...'?

There's quite a few instruments that they should have continued with, on the bass front, Grabbers, Rippers, RDs, Thunderbirds, EB3 and the EB2s as well. These should have formed their core range and become as synonymous with bass players as Precision and Jazz basses. Sadness is that it took Kris Novoselic and Nikki Sixx to open kids eyes to RDs and Thunderbirds. I really don't remember seeing anyone big using an RD (although I'm certain there were). On the guitar front, they should have been making the entry-level Les Paul Juniors, Melody Makers forever; Les Pauls and SGs aside, they're as important as Explorers and Firebirds.
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: uwe on May 04, 2018, 11:26:33 AM: I don't think that bass marketing policies are the source of Gibson's troubles. They have always tried to sustain models that sold reasonably and were not just niche: in the 60ies the EB/SG as the work horse (TBirds just didn't sell back then), in the 70ies the Ripper/Grabber/G-3 family, in the first half of the 80ies the Victory/Q-80/Q-90 line, after Henry took over they reintroduced the TBird in 87/88 (and kept producing it to this day), much of the 90ies were dominated by the LPB-1, -2 and -3, come the noughties and beyond, they introduced a wealth of basses, but only the SG Bass as the second coming of the EB-0/-3 proved a durable success (and that did stay in the catalogue together with the TBird). Other models have come and gone, but having established two iconic bass guitars (and as radically different as a TBird and an SG Bass to boot - you know how most non-bassists can't really tell a Jazz from a P!) - ain't bad. And both reintroduced during Henry J.'s tenure.
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: Dave W on May 04, 2018, 02:49:44 PM: Basses have nothing to do with Gibson's troubles, and for all Henry's bizarre ideas, their guitar business is still sound. I can't help but think that will improve under new management.

Henry posted a message on Gibson's FB page assuring everyone that their warranties would still be good, prices weren't going up, etc. etc. -- just what you would expect in a situation like this, a smooth transition. It's really discouraging to read a lot of the responses, people who can't comprehend what the problem was. Not as discouraging as reading idiotic YT comments, but still, if you think that Gibson's prices are the problem despite every article explaining the additional debt from the "lifestyle" company acquisitions, maybe you should just lobotomize yourself and be done with it.
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: 4stringer77 on May 04, 2018, 06:09:29 PM: If we get some basses from Gibson under the new management, fingers crossed, I wouldn't mind paying a little extra if the quality of the product improves. Leave it to Epiphone to pander to the masses for low cost options.
I don't actually believe more long scale Les Paul basses could have helped Gibson's predicament. I just wish there were still more in the market now that I'm gassing for a backup.
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: Dave W on May 05, 2018, 01:38:42 PM: Quote from: 4stringer77 on May 04, 2018, 06:09:29 PM
If we get some basses from Gibson under the new management, fingers crossed, I wouldn't mind paying a little extra if the quality of the product improves. Leave it to Epiphone to pander to the masses for low cost options.
I don't actually believe more long scale Les Paul basses could have helped Gibson's predicament. I just wish there were still more in the market now that I'm gassing for a backup.

Whatever basses they offer, they need to inspire buyers. I recently played a walnut finish 2018 SG Standard Bass and the tone was about as blah as it could be, finish was laid on thick and didn't feel right, and somehow the A string had way less volume even though the setup looked fine. Blah.
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: Dave W on May 05, 2018, 01:44:25 PM: Further filings have been made in the bankruptcy and have gooten preliminary approval: debtor-in-place financing, restructuring plan, ability to continue paying workers and servicing warranties, etc.

Meanwhile, GC weighs in:
Guitar Center issues Gibson statement (http://msretailer.com/guitar-center-issues-gibson-statement/)
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: uwe on May 18, 2018, 10:49:12 AM: https://store.gibson.eu.com/de/

Better late than never I guess. They are now doing online retail in Europe.
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: Dave W on May 18, 2018, 11:31:39 AM: Quote from: uwe on May 18, 2018, 10:49:12 AM
https://store.gibson.eu.com/de/

Better late than never I guess. They are now doing online retail in Europe.

Whatever it said when you posted this less than two hours ago, it's now a Page Not Found.
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: uwe on May 18, 2018, 12:36:38 PM: Perhaps it's blocked from the US, it works fine here, an online retail site pretty much in the trad. Gibson Brands Home Site look. The only bass on offer for ordering is the 2018 SG.
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: westen44 on May 18, 2018, 01:05:16 PM: Page Not Found for me, too.
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: uwe on May 18, 2018, 02:26:21 PM: US sanctions I guess.

:rimshot:
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: amptech on May 18, 2018, 11:59:17 PM: Nicht gefinden aus Norwegen.
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: Dave W on May 19, 2018, 08:56:38 AM: I suspect Frau Merkel is behind this. Or maybe Tracey Ullman.

https://www.youtube.com/watch?v=i9gYP4fD4-4
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: Dave W on June 01, 2018, 08:18:05 PM: Today's update: Breaking: Gibson Guitar Structures a $135 Million Bankruptcy Lifeline (https://www.digitalmusicnews.com/2018/06/01/gibson-guitar-bankruptcy-bailout/)

Philips and some other unsecured creditors had objected to the DIP (debtor-in-possession) financing proposed in the original filing. There were some revisions but the re's now a final DIP order.

The last paragraph of the article is ridiculous and false. Guitar sales are not plunging in the US.
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: Grog on June 02, 2018, 06:30:11 AM: And we don't want to necessarily replace our Gibson with a cheap guitar from China...…….
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: Dave W on June 30, 2018, 08:52:10 PM: Wall Street Journal article yesterday: https://www.wsj.com/articles/creditors-probe-gibsons-pre-bankruptcy-dealings-with-lenders-1530298312

Creditors Probe Gibson’s Pre-Bankruptcy Dealings With Lenders
Blackstone and KKR affiliates face questions from creditors of guitar company

By
Peg Brickley
June 29, 2018 2:51 p.m. ET

Creditors are stepping up a probe of guitar-maker Gibson Brands Inc.’s pre-bankruptcy dealings, looking for signs the troubled company favored senior lenders, including affiliates of private-equity giants Blackstone Group and KKR & Co.

Blackstone’s GSO Capital Partners LP and KKR Credit Advisors (US) LLC are among the largest secured lenders to Gibson, which filed for chapter 11 bankruptcy protection May 1, with $475 million in secured debt.

In a bankruptcy court filing Thursday, the official committee representing the company’s unsecured creditors asked the Nashville-based guitar maker, GSO Capital and an informal bondholder committee with KKR as its largest member for documents detailing what happened as the company struggled to stay out of bankruptcy.

KKR declined comment on the investigation. GSO also declined to comment. Gibson could not immediately be reached for comment.

Testing the liens that anchor secured loans is a routine part of corporate bankruptcy, but such questions take on special urgency when unsecured creditors face an uncertain fate, as in the Gibson case.

Creditors are looking for grounds to challenge the secured status of the loans, which would give them leverage in talks about how to rework the company’s balance sheet and get it out of bankruptcy. They face a July 8 deadline to state their formal objections to the secured claims, but said in court papers this week that the investigation will take until early September.

Gibson’s bankruptcy filing followed lengthy negotiations and a struggle to wring profits out of its consumer electronics division, which sells Philips-branded headphones and speakers.

The company’s owners, Henry Juszkiewicz and David Berryman, negotiated with secured bondholders for months in advance of the bankruptcy filing.

Among the topics Gibson’s creditors want to probe is the decision-making behind the 2014 acquisition of the Philips consumer electronics business, court papers say. Creditors also want to know about talks concerning employment or consulting roles for Mr. Juskiewicz and Mr. Berryman.

Chapter 11 plan documents say Mr. Berryman is in line for a salary and bonus totaling $3.35 million and warrants for up to 2.25% of the reorganized Gibson. Mr. Juszciewicz gets a $2.1 million consulting fee deal, plus warrants for up to 2.25% of the post-bankruptcy company, under the proposed bankruptcy reorganization plan.

GSO and KKR are not the only lenders in the committee’s cross hairs. A loan from Elavon Financial Services DAC, U.K. Branch, is also under investigation, according to the filing with the U.S. Bankruptcy Court in Wilmington, Del.
The committee wants to know why payments were accelerated under the Elavon loan, which was paid down swiftly from $60 million to $24 million in the lead-up to the bankruptcy.

However, the private-equity powerhouses are some of Gibson’s largest lenders, court papers say.

Gibson owed GSO $74 million on a term loan at the time of the bankruptcy filing, while KKR Credit Advisors US LLC owns $198 million of Gibson’s senior secured notes, and is providing $72 million of the chapter 11 financing, court papers say.

Manufacturer of the iconic Les Paul electric guitar, Gibson also makes instruments under a number of brand names including Dobro, Epiphone, Kramer and Tobias. The company also owns historic brands, including Slingerland drums and Wurlitzer pianos.
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: Dave W on August 03, 2018, 11:30:50 PM: KKR to Gibson Bidders: ‘We Own the Company’ Until Debt Is Repaid (https://finance.yahoo.com/news/kkr-gibson-bidders-own-company-190527955.html)

Discord emerges between Gibson, creditors in bankruptcy proceedings (https://www.bizjournals.com/nashville/news/2018/07/25/discord-emerges-between-gibson-creditors-in.html)

Gibson is pushing back in defense of its restructuring plan. According a July 23 filing, Gibson was "extensively … marketed" prior to its Chapter 11 filing. Here's how the filing describes those results:

"The market responded with only one 'bid.' … In other words, the dozens of strategic and financial counterparties that the debtors … have approached and provided diligence to (which included some of the largest financial institutions and distressed M&A players in the world, including GSO) all responded with unwillingness to underwrite an investment in the debtors that could satisfy the debtors’ approximately $500 million of prepetition secured debt."
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: Chris P. on August 04, 2018, 03:21:16 AM: Joe Bonamassa said in an interview something like:

'No, I won't buy Gibson. What do you think a blues artist like me makes for a living a year? I can't afford it. I do know the people who will buy Gibson and they're great.'

Or similar words.
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: planetgaffnet on August 04, 2018, 06:34:00 AM: Quote from: Dave W on August 03, 2018, 11:30:50 PM
Discord emerges between Gibson, creditors in bankruptcy proceedings (https://www.bizjournals.com/nashville/news/2018/07/25/discord-emerges-between-gibson-creditors-in.html)

Phopto ten from the slideshow on this page nreaks my heart. Two Juniors. I mean, how difficult would it have been to just do a rear rout and make these models correct?
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: Dave W on August 04, 2018, 06:06:28 PM: Quote from: Chris P. on August 04, 2018, 03:21:16 AM
Joe Bonamassa said in an interview something like:

'No, I won't buy Gibson. What do you think a blues artist like me makes for a living a year? I can't afford it. I do know the people who will buy Gibson and they're great.'

Or similar words.

I read an excerpt from that interview. He said something like he had taken a vow of poverty as a blues artist. ;D Poor Joe, he can hardly afford even one guitar https://jbonamassa.com/features/guitar-collection/

Is he right about the new ownership or is he just continuing to promote Gibson and hoping for the best? We'll just have to wait and see.
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: Dave W on August 07, 2018, 06:53:09 AM: Anybody interested in applying? (https://execthread.com/listings/2018-8-greater-nashville-area-music-chief-executive-officer-ceo)
Title: Re: Stay tuned... (UPDATED - Gibson files Chapter 11)
Post by: gearHed289 on August 07, 2018, 07:56:10 AM: Quote from: Dave W on August 07, 2018, 06:53:09 AM
Anybody interested in applying? (https://execthread.com/listings/2018-8-greater-nashville-area-music-chief-executive-officer-ceo)

:o