Thomas Ripsam named new CEO of Martin Guitar!

[Scotso]

Originally Posted by jimmy bookout

Sadly, history is not on your side on this...the world is littered with companies that actually PRODUCED something being run in the ground by a consultant/MBA/Finance guy/etc...

Sadly history is littered with all types of knuckleheads running existing businesses into the ground. This is not limited to Finance and Consultant types. I worked for one where the CEO came up through the ranks, was respected by colleagues and slowly ran the biz into bankruptcy. Thankfully I was not there for the final act.

[Maryc-k]

Originally Posted by Scotso

Sadly history is littered with all types of knuckleheads running existing businesses into the ground. This is not limited to Finance and Consultant types. I worked for one where the CEO came up through the ranks, was respected by colleagues, and slowly ran the biz into bankruptcy. Thankfully I was not there for the final act.

Lots of things lead to a business's demise. There is no real recipe for incompetence.

How many family businesses were turned over to heirs who promptly imploded those enterprises? How many have died a slow death at the hands of the sons and daughters of brilliant individuals?

[Dru Edwards]

I wonder if CF Martin is a micromanager?

[Boozehound]

Lots of inferences is this thread. Martin is still a private, family owned company. Any CEO will do the owners ask him to do. If they want him to constantly cut costs to maximize profit he will seek to do so. If they tell him to maintain quality at all costs he will likely seek to do that.

Honestly this thread kind of reads like a bunch of people who are just bitter about business in general. Let’s give the guy a chance. We don’t really have a choice anyways. And again: there are certainly no guarantees that another random Martin heir will better equipped or more qualified to run the company.

[Glennwillow]

Originally Posted by Boozehound

Lots of inferences is this thread. Martin is still a private, family owned company. Any CEO will do the owners ask him to do. If they want him to constantly cut costs to maximize profit he will seek to do so. If they tell him to maintain quality at all costs he will likely seek to do that.

Honestly this thread kind of reads like a bunch of people who are just bitter about business in general. Let’s give the guy a chance. We don’t really have a choice anyways. And again: there are certainly no guarantees that another random Martin heir will better equipped or more qualified to run the company.

Absolutely true.

I remember this old joke from my dad about this young kid getting a job at a company sweeping up floors in the warehouse. Next week he is promoted to actually filling warehouse orders. Next week he is running the warehouse operation. The next week he is moved over to sales. A week later he becomes sales manager. The next week he becomes a VP of Sales and gets a seat on the board of directors. As he walks into the room to meet the rest of the board and the president of the company, the president says, "Well, you have moved up the ranks quickly. Anything you want to say?"

The kid says, "Gee, thanks, Dad."

- Glenn

[Slothead56]

Originally Posted by Boozehound

Honestly this thread kind of reads like a bunch of people who are just bitter about business in general. Let’s give the guy a chance. We don’t really have a choice anyways.

I struggled to come up with a way to say what you so respectfully did.

[Gordon Currie]

Originally Posted by Maryc-k

How many family businesses were turned over to heirs who promptly imploded those enterprises? How many have died a slow death at the hands of the sons and daughters of brilliant individuals?

There is a saying that has many variations among countries and cultures, but the message is the same:

"Clogs to clogs in three generations."

What that means is that the typical family business only lasts for three generations.

The first generation starts the business, it grows.

The second generation has grown up seeing the inner workings and has opinions on how things should be run. But most of the time they have an imperfect understanding of the core business.

The third generation has usually little identification with the business, and may desire to pursue different lives that don't involve the business.

Interestingly, this saying is centuries old.

[rstaight]

Originally Posted by Boozehound

Lots of inferences is this thread. Martin is still a private, family owned company. Any CEO will do the owners ask him to do. If they want him to constantly cut costs to maximize profit he will seek to do so. If they tell him to maintain quality at all costs he will likely seek to do that.

True, I once had a plant director say "If you give a person a metric to meet they will meet it any way they can."

[Skarsaune]

Originally Posted by Boozehound

Lots of inferences is this thread. Martin is still a private, family owned company. Any CEO will do the owners ask him to do. If they want him to constantly cut costs to maximize profit he will seek to do so. If they tell him to maintain quality at all costs he will likely seek to do that.

Well stated.

Originally Posted by rstaight

True, I once had a plant director say "If you give a person a metric to meet they will meet it any way they can."

Exactly. You get what you measure, whether it's shipment dollars, profit margin, whatever. Let's hope that Mr. Ripsam is directed wisely.

[JonWint]

Maybe C F Martin is not the typical family business. Martin has already survived the mismanagement of the 5th generation. Frank Martin was in charge for the Levin and Vega debacles. He also had some expensive hobbies including open-wheel auto racing.

C F Martin, IV is the 6th generation of management.

[jimmy bookout]

Originally Posted by Boozehound

Lots of inferences is this thread. Martin is still a private, family owned company. Any CEO will do the owners ask him to do. If they want him to constantly cut costs to maximize profit he will seek to do so. If they tell him to maintain quality at all costs he will likely seek to do that.

Honestly this thread kind of reads like a bunch of people who are just bitter about business in general. Let’s give the guy a chance. We don’t really have a choice anyways. And again: there are certainly no guarantees that another random Martin heir will better equipped or more qualified to run the company.

I'll assure you I am not "bitter" about "business in general". And at 64 years old, I have seen thriving companies destroyed by someone who "thought" they knew a better way. In general, the worst thing that can happen to a company that produces a real live PRODUCT (say a guitar for instance) being run by a finance guy (rather than a PRODUCT guy)...well, as I said, history is on my side regarding the outcome.

We'll see, I hope it works out and I will be HAPPY to be dead wrong.

[jimmy bookout]

Originally Posted by Maryc-k

Lots of things lead to a business's demise. There is no real recipe for incompetence.

How many family businesses were turned over to heirs who promptly imploded those enterprises? How many have died a slow death at the hands of the sons and daughters of brilliant individuals?

But there is a recipe for incompetence. It's called the "Peter principle".

[Jeff Scott]

Originally Posted by jklotz

Should be interesting. Let's hope he doesn't change the bracing of all the models and call it something catchy like "M series bracing".

You really meant to say M-Class bracing, right?

[PeteD]

"I have admired Martin guitars since I was a teenager," said Ripsam. "My first real acoustic was a Martin guitar and it has been a close companion to me since. Martin has always been an iconic fretted instrument builder and I have a deep appreciation for the company’s continued focus on quality, craftsmanship and innovation, as well as its unique culture and history. I am honored and humbled to join the Martin family and to carry on the legacy of Chris Martin and his predecessors."

This guy sounds like real trouble to me....

Man, I'd love to ditch my corporate job, take a sabbatical to really learn how to build guitars (I do...but they are only starting to get to any level of decency), and then go run a guitar company. That sounds like heaven to me. I hope he is true to his quote and I could easily see myself in his shoes, giving it my all to protect the iconic brand and history. I doubt his intentions are anything but good.

[jimmy bookout]

No different from people that love to cook thinking they can own/run a restaurant...Building ONE guitar and RUNNING Martin is the difference between throwing a bullet and shooting it. OR...the foody that goes from cooking for 3 of their friends to cooking for 200 people in one night.
I'm amazed folks don't get this.