Dire financial situation at Gibson?

[Dave W]

I hope they don't hit Epiphone too hard since it seems to be the one part of the company that does well.

I doubt Epi will be hit too hard but Henry will probably cut every bit of excess he can. Gibsons are probably doing reasonably well too. It's the consumer electronics businesses that are the far bigger problem. Nowhere near enough to service the debt they took on.

[Ken]

I doubt Epi will be hit too hard but Henry will probably cut every bit of excess he can. Gibsons are probably doing reasonably well too. It's the consumer electronics businesses that are the far bigger problem. Nowhere near enough to service the debt they took on.

What about their Lifestyle products? 

[Denis]

I doubt Epi will be hit too hard but Henry will probably cut every bit of excess he can. Gibsons are probably doing reasonably well too. It's the consumer electronics businesses that are the far bigger problem. Nowhere near enough to service the debt they took on.

Unless he unloads all that non-guitar stuff I don't see how they'll be able to handle that debt. Yeesh, that's a lot of jack.

[Dave W]

What about their Lifestyle products? 

I think the consumer electronics were Henry's idea of lifestyle products.    I've seen several pics of him in a stonewashed blue jean jacket that looks right out of the 80s, he's probably wondering why Philips discontinued making cassette decks.

Unless he unloads all that non-guitar stuff I don't see how they'll be able to handle that debt. Yeesh, that's a lot of jack.

It's not that easy. He overpaid for those companies to begin with, and now they're worth much less than what he should have paid. If he sold them all off tomorrow it wouldn't even be close to enough to cover the debt he took on.

[Grog]

He bought Gibson cheap enough, he should have known better.........

[doombass]

I think the consumer electronics were Henry's idea of lifestyle products.    I've seen several pics of him in a stonewashed blue jean jacket that looks right out of the 80s, he's probably wondering why Philips discontinued making cassette decks.

Or rather wondering why they stopped development of cassette decks.

[uwe]

Dave didn't mention the more manly Iguana-burst fin... I mean, the name alone...

Hmmmph, would you care to repeat that while I get my tail ready to slap you?



My "civil liberties for reptiles"-agenda aside, I actually truly like that fin.

[Dave W]

Or rather wondering why they stopped development of cassette decks.

He's developing a new cassette deck to be included in the upcoming Fireturd XI. But I'll wait for the Fireturd XII, that one will have a built-in 8 track player.

[Denis]

He's developing a new cassette deck to be included in the upcoming Fireturd XI. But I'll wait for the Fireturd XII, that one will have a built-in 8 track player.

Can I custom order mine with Beta capabilities?

[Dave W]

Can I custom order mine with Beta capabilities?

Doesn't seem that long ago when one of my relatives faulted me for buying a VHS player; he was sure Beta would win out.

[Grog]

I thought Sony would loose again in the battle of Blue Ray vs HD DVD............... Wrong!!

[Blackbird]

Why no talk of Laserdisks and aurora borealis Les Pauls?  That's where I'm putting my money.

[Dave W]

Another Gibson article

Nothing new about their situation, but it's the first time I can recall that Henry admits his mistake of trying to diversify. He also says “My dream was to be the Nike of music lifestyle,” 

Also, there are very critical comments from Gruhn and another dealer.

[westen44]

That's a very well-written article. 

[uwe]

He's mentioned Nike and Harley-Davidson as brand role models before - and I guess they are: very established international brands that have long transcended their orginal core products.

But who told him that buying consumer electronics has-beens would help him achieve that status? I'd have understood if he had bought, say, someone like Bang & Olufson (I find them unremarkable soundwise, but their look/styling makes wives happy) or Bose who already have an established lifestyle image.