Dire financial situation at Gibson?

Started by Dave W, February 11, 2018, 11:58:44 PM

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doombass

Just a reply on the modern/classic perspective. No problem for me to modernise. My concern is if Henry really thought the LP Robot guitar -which was the first guitar equipped with robot tuners- was such a success they ought to implement them on almost all guitars? It never struck to me to being such a blockbuster. Henry does'nt get that the proof is in the pudding even when it's on the table in front of him.

Dave W

If your modern innovation doesn't sell, don't blame the public for not buying. Henry has never learned that lesson.

Dave W

I saw an article yesterday that said Gibson has sold its Baldwin Piano division. AFAIK that hasn't happened yet, they only sold a former Baldwin building in the Nashville area. It's not likely that they could sell the division for anywhere near what they paid.

Pilgrim

Quote from: Dave W on March 05, 2018, 10:13:43 AM
I saw an article yesterday that said Gibson has sold its Baldwin Piano division. AFAIK that hasn't happened yet, they only sold a former Baldwin building in the Nashville area. It's not likely that they could sell the division for anywhere near what they paid.

I suspect Gibson is about to find out that applies to a number of subsidiaries, but that won't eliminate the need to sell.
"A computer lets you make more mistakes faster than any other invention with the possible exceptions of handguns and tequila."

jumbodbassman

i just happen to know what he paid for baldwin.   I ( GE Capital)  sold it to him at a bankruptcy court auction..  was around 24M if my memory serves me correctly.   probably worth single digits at this point. 
Sitting in traffic somewhere between CT and NYC
JIM

TBird1958

Quote from: jumbodbassman on March 05, 2018, 02:04:54 PM
i just happen to know what he paid for baldwin.   I ( GE Capital)  sold it to him at a bankruptcy court auction..  was around 24M if my memory serves me correctly.   probably worth single digits at this point.


Whoa!

Buy high, sell low- make it up on volume  :o
Resident T Bird playing Drag Queen www.thenastyhabits.com  "Impülsivê", the new lush fragrance as worn by the unbelievable Fräulein Rômmélle! Traces of black patent leather, Panzer grease, mahogany and model train oil mingle and combust to one sheer sensation ...

Dave W

Thanks for that info, Jim.

Gibson paid far more for Philips/Woox and I expect that it will be sold off at a much greater loss.

Thornton Davis

Please keep your eyes open for my stolen 1973 Burgundyglo Rickenbacker 4001 Serial # MD1582. It was stolen in November of 2006. Reward for its return. Thx!

Dave W

Quote from: Thornton Davis on March 06, 2018, 07:34:19 PM
Henry's gotta go or not dough.

https://www.gearnews.com/gibson-creditors-want-new-ceo-offering-rescue-deal/

TD

Henry with his Fireturd X. How fitting! I remember the big hoopla when he introduced it. He definitely saw himself as another Steve Jobs.

Pilgrim

It appears that the wolfpack is closing in.
"A computer lets you make more mistakes faster than any other invention with the possible exceptions of handguns and tequila."

uwe

Who called us for that Nashville Convoy?

We've taken too much for granted ... and all the time it had grown ...
From techno seeds we first planted ... evolved a mind of its own ...

uwe

I thought the Firebird X was a worthy attempt at innovation - nothing wrong with trying something like that. Just don't bet your company on it.
We've taken too much for granted ... and all the time it had grown ...
From techno seeds we first planted ... evolved a mind of its own ...

Basvarken

#117
Innovation is necessary.
But the Fireturd X used already outdated technology, and was not well designed at all (for example ugly stickers with function description at every knob...)
www.brooksbassguitars.com
www.thegibsonbassbook.com

patman

Henry deliberately tried to price his products so that working musicians could not afford them...shot himself in the foot

Dave W

Quote from: uwe on March 07, 2018, 07:23:37 AM
I thought the Firebird X was a worthy attempt at innovation - nothing wrong with trying something like that. Just don't bet your company on it.

I don't think it was, but even so, the problem is that he blames everybody but himself. His failures are always the fault of others.