More Gibson Bankruptcy Chatter

[pjroberts]

From Rick Beato's video podcast/show thingy (a mixed bag - sometimes interesting, sometimes not so much - YMMV) a chat with a couple Gibson "experts" or at least knowledgeables. A bit of history, what's going on now with impending bankruptcy in this summer. Interesting look at Gibson's challenges over the last 30-40 years, including the Asian Epiphones Gibson copies competing with core Gibson guitar business, and then of course leadership problems and the shaky branch into other consumer businesses like Phillips and Onkyo.

Interestingly it seems to be mounting closer now. Also heard a piece on this Tuesday night on NPR.

https://www.youtube.com/watch?v=9_Xi9GQ48iY

[bitraker]

it's all about the bottomline, heritage, tradition, and Jimmy Page got nothing to do with it...

[baimo]

I have been reading about Gibson going bankrupt ever since I started looking at guitar forums. I think it would be a big loss.

[hearsedriver]

I was hoping for another V-Class bracing thread........bummer.......

[Ed-in-Ohio]

Should have never left Kalamazoo...physically nor philosophically.

[Knollhaven]

Originally Posted by Ed-in-Ohio

Should have never left Kalamazoo...physically nor philosophically.

Boom! Mic drop. (Well said!)

[MChild62]

Who wants to go in on a project to buy out Gibson's acoustics factory and rights to the name (for acoustic guitars)?
Sort of like Kickstarter... for a $50 contribution you get $200 off of a new J-45 direct from Bozeman when AGF members acquire the business...

[dcmey]

Originally Posted by MChild62

Who wants to go in on a project to buy out Gibson's acoustics factory and rights to the name (for acoustic guitars)?
Sort of like Kickstarter... for a $50 contribution you get $200 off of a new J-45 direct from Bozeman when AGF members acquire the business...

I just don't care for the sound of Gibson acoustics. They would need to be revoiced if I was in.

[mrjop1975]

I'd been noticing this topic coming up more and more. Even a friend at work was saying that to me.

I think the problem with Gibson, or any other company that has been around forever, is that they tend to rely on there reputation a lot, and let a lot of stuff slide in terms of quality control. Even though Epiphone is a sub-brand of Gibson, some of the quality with those is hit and miss, with a store in my area having stopped carrying Epiphones for that reason.

As well, the way they treat a lot of smaller stores that want to be Gibson dealers is not right. A local store where I live has said that as soon as what Gibson products they have are sold, they are done. Too much investment for what Gibson wants. They already carry Martin & Taylor, so they do not need another high end brand in the store.

Just my own observations for whatever it is worth.

[nitram]

Originally Posted by dcmey

I just don't care for the sound of Gibson acoustics. They would need to be revoiced if I was in.

Yeah; I can see them doing that for you.

[mouselim]

Gibson going under? Hmm... I own quite a fair number of Gibson pieces... not sure what that will do to the value of my guitars but anyway, I like them so it doesn't matter either way.

I guess although the market has grown (worldwide) but the competitions have also become more intense with more players of good quality but at significantly less cost (e.g. Eastman or Sigma).

If Gibson wishes to carry on business, they will have to innovate more in terms of different models, lower production cost and improve overall quality.

[Rmz76]

Looks like the company might can negotiate a rescue deal if Henry Juszkiewicz will step down.

https://www.bloomberg.com/news/artic...funding-rescue

The question is will he be willing to do that or will he take the ship down with him? What happens if he refuses to step down and the company defaults on their loans and enters bankruptcy? Then they would likely enter Chapter 11 and the court appointed Creditors' Committee (Gibson's lenders who stand to loose the most) will force Henry out. Either way, it seems the Juszkiewicz era is coming to a close.
What do you think?

[mz-s]

Gibson's guitar business is sustainable and profitable, it's all the junk companies they bought to create a "lifestyle brand" that are dragging everything down.

I hope Gibson is able to separate Onkyo, Stanton, etc., from the core Gibson music company and survive.

Point is the Gibson brand is sustainable and will continue even if the company as we know it today does not - but then that's always been the case, through many owners.

[Roseland67]

Originally Posted by mz-s

Gibson's guitar business is sustainable and profitable, it's all the junk companies they bought to create a "lifestyle brand" that are dragging everything down.

I hope Gibson is able to separate Onkyo, Stanton, etc., from the core Gibson music company and survive.

Point is the Gibson brand is sustainable and will continue even if the company as we know it today does not - but then that's always been the case, through many owners.

Always thought that Gibson should develop
their own complete amplifier line.
Something to compete with say Mesa Engineering.
25/50/100 heads and combos,
tube, solid state, hybrids Etc.
Very complimentary, could offer package deals on both.
Sponsor using both to musicians.

[rct]

Originally Posted by Roseland67

Always thought that Gibson should develop
their own complete amplifier line.
Something to compete with say Mesa Engineering.
25/50/100 heads and combos,
tube, solid state, hybrids Etc.
Very complimentary, could offer package deals on both.
Sponsor using both to musicians.

They parlayed Trace Elliott into the Goldtone amps. They were fabulous, throaty, roaring, loud amps, right up the alleys of us(at the time) starting to age 70's kids playing arena stuff. Great with pedals and bulletproof.

Heavier than any amp should ever be, more expensive than the booteekiest of boutique hand wired turret fly fished no boards unobtanium cap amps.

Too bad. I would have gladly used a couple except I'd have to carry them. No way.

rct