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Discussion in 'Other Cool Guitars' started by thunder58, Mar 21, 2020.
FWIW ..... Guitar Center has closed there doors also
What will I live for now?
...then there is this...gotta be great for product quality.
Why am I not surprised .....
The spirit of Henry J lives on. How long will it take for the rot he visited upon that once great company to be finally rooted out?
Well, they are not dead. They will return, just doing the prudent thing.
I don't know what platform GT is on, but on the forum I used to Mod at, we were able to view edit history too. Just sayin'.
Oh I'm sure it's all good ....
It leads me to question if anything has changed since the reorganization. The brand will live on, but if the current company were to go out of business, it wouldn’t surprise me one bit.
Will it be the Corona virus that finally takes them out?....
That is crazy, that they would close HQ but keep the factory open . . . . I'm beginning to think they just don't give a poo.
I’m beginning to wonder if Henry rubbed off on the new management. Maybe he’s still pulling the strings. I know they retained him as a consultant. I would have found a burly guard to show him the door.
FWIW, my employer would be considered a vital business. We are allowed to come in, but almost everyone is working from home. I haven’t been there in a week, but am working long days from home.
One thing is very certain, my employer is not asking anyone to travel or to do anything that they feel places them at risk for exposure. When this thing first came to light, they cancelled all international travel and made any travel voluntary. I believe this was before there was even one case in the US.
They are somewhat precarious due to debt, so it could end in liquidation. As much as I dislike GC, I have mixed feelings about having them go out of business. If they do, I’d prefer that it happen gradually, closing locations until they eventually give up the ship. If every GC closed tomorrow, I fear that a lot of mom & pop stores would be crushed by the sudden glut of instruments being sold at bargain prices.
I don't want to see them go under even though I'm not a big fan - still they are the only big music store left in this town. I prefer Chuck Levin's Washington Music Center but it's a pretty good distance to drive for strings and picks, and wires, etc.
Tucson still has Rainbow Guitars, which is an excellent store and there are other stores as well. I wish no ill to GC employees, but as far as equipment is concerned, we’d be ok without them.
I wonder ... after all , they've been closing their door and going out of business ever since I joined this forum 10 years ago . ( I must have seen 6 threads regarding the subject since I'm here )
Sweetwater, Elderly Instruments are "closed". They are taking online orders but not providing shipping dates. I guess this will be "a fact of life: for a while.
Take solace. There are probably enough guitars on the planet that we should survive ...for a while.
We can only hope.
That's not how private equity ownership tends to operate in my personal experience. They normally don't like to meddle with any management on down to the janitor because the firm doesn't pretend to know e.g, how to make guitars. This is akin to why KKR kept Henry on in a consulting role--they need someone who knows the business side and the finance and shareholder side.
Instead the focus for KKR is on squeezing profitability. We've talked about on this forum some of the litigation and trademark applications Gibson has lately been active in. These actions are consistent with trying to raise profitability and their recent flurr of occurance is no accident.
Fender is owned by private equity no? And Fender basically takes care of all Gretsch administration even if the family retains the trademark. I don't see how that plays out as all that much different than Gibson save that there is no Gibson family that still owns the trademark and gives the company a human face. Why do I never see Fender slagged for its ownership like Gibson?
I don't know KKR specifically except for what my friends who have done deals for them tell me and that is only a narrow window, so caveat that I am speaking generically about how private equity sees itself in the grand scheme of things. KKR could well be different, although I don't know them to be reputed as asset strippers.
Even if warranted, I feel it's kind of unfair to lump in with the animosity to KKR most everyone at Gibson whom I would think would only want to do the name proud and who take pride in their work and are maybe a little bit honored to do their part to carry on the incredible legacy of that name.
Trust me only about 8 people or so max at Gibson will ever even know or deal with anyone from KKR. I been involved with these sorts of things for 25 years and it's largely always the same at the board and shareholder level.