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  • Gibson Bankrupt after 116 years ?

    True or false? I suppose that the RARE WOOD mess didn't help.

    http://www.ajc.com/news/national/gib...Ev1rP92RvZFrM/

    Dan
    Last edited by techristian; 02-20-2018, 10:45 AM.
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  • #2
    Yeah it was sad to see and there's no real explanation that I saw. I'm sure the government confiscating all that wood and raiding the factory certainly didn't help. One thing for certain, it's not because their guitars are too low priced!
    http://www.crazydeliciousband.com/

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    • #3
      This is from the Nashville Post.

      https://www.nashvillepost.com/busine...f-time-rapidly
      https://soundcloud.com/david-goethe/tracks

      Dave's ,YouTube channel

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      • #4
        Having been fired by Gibson, one might think I'd have some resentment or bitterness. But I don't; it was a great experience, I learned a lot, enjoyed working with a bunch of great (and dedicated) people, and appreciated that Henry rescued Harmony Central. Given what's happened since leaving Gibson, I'd also like to thank Gibson for firing me. I wouldn't have left voluntarily, but I have a lot of interests and now I get to pursue them full-time.

        So having given the backstory...although things look dire for Gibson right now, they've looked dire before and Henry was always able to pull it out. Gibson is like the stock market; it has corrections and even crashes, but the general trend is up. While I don't want to dismiss the gloom and doomers - they may very well be right - I don't see any fat ladies singing yet.
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        • #5
          Hey! Donald Trump has been bankrupt several times and now he's running a country!
          --
          "Today's production equipment is IT-based and cannot be operated without a passing knowledge of computing, although it seems that it can be operated without a passing knowledge of audio." - John Watkinson, Resolution Magazine, October 2006
          Drop by http://mikeriversaudio.wordpress.com now and then

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          • #6
            Bankrupt doesn't necessarily mean gone, either. The vendors that Gibson owes don't want to have to get their money via Bankruptcy Court, either. For a company with such a massive customer base, there's a lot of incentive for creditors and owners to come up with some way to meet obligations, drop unprofitable subs, and sweat it out.

            Surely the regrettable fuss with the government over the wood was just a small blip to such a huge company. But still, these numbers are scary....236 million sales 2013, 156 million sales 2017. They've got to be doing some serious cost cutting, 'cause they lost a lot more on the bottom line in 2013. 2015 was brutal...it's probably all about cash flow and debt service at this point. Hang in there, Gibson.
            Financials Information for Gibson Brands, Inc.

            Revenue $155.879 $189.352 $170.787 $217.819 $235.924
            Gross Profit $64.029 $72.954 $64.549 $90.8 $100.413
            Operating Income $1.932 $0.407 $-12.612 $3.833 $7.353
            Net Income $-0.467 $-1.814 $-15.629 $-2.407 $-3.427
            nat

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            • #7
              Originally posted by MikeRivers View Post
              Hey! Donald Trump has been bankrupt several times and now he's running a country!
              So you think Henry has a chance of being President then?

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              • #8
                Originally posted by Anderton View Post
                Gibson is like the stock market; it has corrections and even crashes, but the general trend is up.
                I think the issue here is confidence.
                Gibson is like a person playing Musical Chairs, the song stopped and they are left without a chair. In Gibson's case, they are still dancing even though the music has long stopped.

                While I do believe in exploration and the endeavor to go beyond one's reach, the spontaneous and acrobatic business model is not for everyone.
                Gibson's recent business acquisitions was a clear indicator of trouble.

                Sometimes it's better to stick with what you do best and just keep doing it.

                If you stand for nothing your life becomes meaningless. The world and everything you have today exist because people before you stood up, worked hard and died to provide us all the opportunity. Get involved!

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                • #9
                  Originally posted by UstadKhanAli View Post

                  So you think Henry has a chance of being President then?
                  Well, Henry does seem to bettter understand international trade than Donald does.

                  "A guitar in every pot."
                  --
                  "Today's production equipment is IT-based and cannot be operated without a passing knowledge of computing, although it seems that it can be operated without a passing knowledge of audio." - John Watkinson, Resolution Magazine, October 2006
                  Drop by http://mikeriversaudio.wordpress.com now and then

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                  • #10
                    Craig can speak more to this than anyone but Gibson has been buying other companies, tweaking them, only to shut them down, or so it seems. From my outsider perspective, it seems that Gibson is biting off more than they can chew. Keep it simple... stick to guitars.

                    The other part of me is thinking... electronic music and hip hop are ruling the airwaves. Is anyone under the age of 30 still buying guitars?

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                    • #11
                      Originally posted by Ernest Buckley View Post
                      Is anyone under the age of 30 still buying guitars?
                      Sure they are. Don't be fooled by the current trend in journalism to use hyperbolic doomsday headlines like the Posts' "slow secret death of the electric guitar" article that kicked off rumors of the pending total demise of the guitar.

                      I've read through quite a few articles on this - google will be happy to provide anyone with loads of them - and the real story is that guitar sales have declined in recent years, coming off a pretty amazing high.

                      The media tends to cast up increases and decreases as growth explosions and imminent deaths. Trends are just directional bends, not full stops and creations from nothing.

                      I thought the electric guitar was dead back in 1980 - synths and disco were the deal. Then Stevie Ray shows up in '83 and Fender can't make enough Strats to keep up with demand...

                      nat

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                      • AlamoJoe
                        AlamoJoe commented
                        Editing a comment
                        That's the truth Nat..I thought the same thing back in 1980

                    • #12
                      Originally posted by nat whilk II View Post

                      Sure they are. Don't be fooled by the current trend in journalism to use hyperbolic doomsday headlines like the Posts' "slow secret death of the electric guitar" article that kicked off rumors of the pending total demise of the guitar.

                      I've read through quite a few articles on this - google will be happy to provide anyone with loads of them - and the real story is that guitar sales have declined in recent years, coming off a pretty amazing high.

                      The media tends to cast up increases and decreases as growth explosions and imminent deaths. Trends are just directional bends, not full stops and creations from nothing.

                      I thought the electric guitar was dead back in 1980 - synths and disco were the deal. Then Stevie Ray shows up in '83 and Fender can't make enough Strats to keep up with demand...

                      nat
                      I disagree. This ain`t 1980 anymore. Technology is moving at an incredible pace. I don`t think most kids are interested in dedicating years to the craft of playing guitar. I do think synths and other electronic devices offer a quicker access point. Just my $.02

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                      • #13
                        Originally posted by Ernest Buckley View Post

                        I disagree. This ain`t 1980 anymore. Technology is moving at an incredible pace. I don`t think most kids are interested in dedicating years to the craft of playing guitar. I do think synths and other electronic devices offer a quicker access point. Just my $.02
                        I'm inclined to think that guitars are just as easy to bypass as an orchestra. If it is true that composers don't need an orchestra anymore, why is the guitar any different? Image, maybe? A tired image at this point as much as an orchestra IMO. It's been done. Or did I miss it? Has anyone stood on their head while playing one yet?

                        It's much easier to manipulate a turntable, a few keys and an arpeggiator, a loop sliced diced and what have you. It may not be easy to truly reach someone, or a crowd, and some may really bring some art to their efforts, but it's easy compared to standing in front of them and playing the guitar well with the same goal in mind.

                        And just like that someone has what so many seem to want. They got their music out there. Doesn't matter if it's for free and junk because somewhere in all the samples and loops and auto this and auto that they expressed themselves and did it like nobody else and the world must hear at all costs. No wait, I mean at no cost.


                        It's not the same as the expressive capability that a large chunk of a lifetime spent with an acoustic or electric guitar usually exhibits. The price of admission to play the violin well enough so that it is tolerable to listen to, let alone a pleasurable and enriching experience is years of practice. Is it much different for guitar? I don't think that music and the making of it is immune to the instant gratification trend. It certainly doesn't appear to be that way to me.

                        "Sound quality. What is that?" Hmmmm.

                        "Sound quality is only about 5%." How does that help justify the price of a Gibson?

                        Methinks the overall gestalt, as it appears to me anyway, may have more bearing than the usual ups and downs.
                        Last edited by RockViolin; 02-23-2018, 12:24 AM.

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                        • #14
                          Originally posted by MikeRivers View Post
                          Hey! Donald Trump has been bankrupt several times and now he's running a country!
                          Wrong. He used bankruptcy as a legal means in business but was NEVER even remotely close to being bankrupt personally. There’s a BIG difference.

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                          • #15
                            Originally posted by sventvkg View Post

                            Wrong. He used bankruptcy as a legal means in business but was NEVER even remotely close to being bankrupt personally. There’s a BIG difference.
                            "Donald Trump" is a generic term for the man and his businesses. Bankruptcy is a way of staying in business for a while until you see if you can settle your debts (which doesn't necessarily mean you pay everyone what they're owed).

                            I think that in their field, Gibson is "too big to fail" and will continue to stay in the guitar business.
                            --
                            "Today's production equipment is IT-based and cannot be operated without a passing knowledge of computing, although it seems that it can be operated without a passing knowledge of audio." - John Watkinson, Resolution Magazine, October 2006
                            Drop by http://mikeriversaudio.wordpress.com now and then

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