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OT - Gibson Guitars Facing Bankruptcy

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GrateEggspectations
GrateEggspectations Posts: 9,296
in EggHead Forum
http://www.ajc.com/news/national/gibson-guitar-company-maker-the-les-paul-facing-bankruptcy-after-116-years-business/OlaIEYdtLEv1rP92RvZFrM/?

I anticipate bankruptcy would create a hike in pricing on the used market. Could be a good time to pick up a collectible. 
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  • northGAcock
    northGAcock Posts: 15,164
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    My wife shared this with me last night. Hard to believe. 
    Ellijay GA with a Medium & MiniMax

    Well, I married me a wife, she's been trouble all my life,
    Run me out in the cold rain and snow
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  • Powak
    Powak Posts: 1,391
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    I believe Guitar Center owns a good share of the Gibson company and supposedly that’s what’s thrown their business down the tubes. Guitar Center can’t keep up with the quality, selection and customer service of mom and pop shops. Also the fact that many local stores lost their Gibson licenses once guitar center came around has downed sales big time. Competition’s strong right now too with Paul Reed Smith and Fender.
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  • gdenby
    gdenby Posts: 6,239
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    I've read from several people that the guitar market has pretty much split into low cost and often not very good guitars and high end show pieces like the Gibsons. Looking at the suggested costs, then and now, the high end has risen much more rapidly than inflation. Not too surprising the available customer base is too small.
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  • Legume
    Legume Posts: 14,627
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    Sounds like smashing guitars on stage just needs to become a thing again.


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  • SmokingPiney
    SmokingPiney Posts: 2,282
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    Gibson has been heading down this road for a while now and it's sad to see. I'm a big fan of Gibson guitars, owning 6 of them. Gibson cutting the mom and pop shops out of the picture was a huge mistake. 
    South Jersey Pine Barrens. XL BGE , Assassin 24, Weber Kettle, CharBroil gasser, AMNPS 
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  • westernbbq
    westernbbq Posts: 2,490
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    SmokingPiney said:
    Gibson has been heading down this road for a while now and it's sad to see. I'm a big fan of Gibson guitars, owning 6 of them. Gibson cutting the mom and pop shops out of the picture was a huge mistake. 
    Institutionalization  of quality in the form of big biz is heartbreaking....everyone loses
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  • YukonRon
    YukonRon Posts: 16,989
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    Harley Davidson is next. They are closing another mfg site and shifting that work to their other facility in PA.
     Revenue was down 81% in 2017, and that followed a dismal 2016.
    "Knowledge is Good" - Emil Faber

    XL and MM
    Louisville, Kentucky
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  • GrillSgt
    GrillSgt Posts: 2,507
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    YukonRon said:
    Harley Davidson is next. They are closing another mfg site and shifting that work to their other facility in PA.
     Revenue was down 81% in 2017, and that followed a dismal 2016.
    Is ridership down overall?

    Re Gibson, I'm guessing they survive a reorg.
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  • pgprescott
    pgprescott Posts: 14,544
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    GrillSgt said:
    YukonRon said:
    Harley Davidson is next. They are closing another mfg site and shifting that work to their other facility in PA.
     Revenue was down 81% in 2017, and that followed a dismal 2016.
    Is ridership down overall?

    Re Gibson, I'm guessing they survive a reorg.
    I agree on the Gibson front.

    The 1 in 5 persons currently receiving disability cannot afford the cost of ownership. Thanks for all the help Washington.  :o
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  • JohnInCarolina
    JohnInCarolina Posts: 30,977
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    YukonRon said:
    Harley Davidson is next. They are closing another mfg site and shifting that work to their other facility in PA.
     Revenue was down 81% in 2017, and that followed a dismal 2016.
    Would be a shame if that happens, but wow what a rapid decline for them.  Not that long ago I remember them being a stock that was recommended.  
    "I've made a note never to piss you two off." - Stike
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  • Legume
    Legume Posts: 14,627
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    JohnInCarolina said:
    YukonRon said:
    Harley Davidson is next. They are closing another mfg site and shifting that work to their other facility in PA.
     Revenue was down 81% in 2017, and that followed a dismal 2016.
    Would be a shame if that happens, but wow what a rapid decline for them.  Not that long ago I remember them being a stock that was recommended.  
    Not their first near death experience though, weren’t they nearly dead in th 80s?
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  • GrillSgt
    GrillSgt Posts: 2,507
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    So I cranked up the old Googleator and it appears that the millenials are to blame. Ridership is down for that demographic and they have made it clear they don't want to be seen as a Harley kind of guy. HD is now concentrating on a shotgun approach trying to appeal to youth, seniors, women and non-caucasians.
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  • WeberWho
    WeberWho Posts: 11,029
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    GrillSgt said:
    So I cranked up the old Googleator and it appears that the millenials are to blame. Ridership is down for that demographic and they have made it clear they don't want to be seen as a Harley kind of guy. HD is now concentrating on a shotgun approach trying to appeal to youth, seniors, women and non-caucasians.
    You can only blame so much on millenials. Have you seen what Harleys go for? HD can take a good amount of blame for that. 
    "The pig is an amazing animal. You feed a pig an apple and it makes bacon. Let's see Michael Phelps do that" - Jim Gaffigan

    Minnesota
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  • JohnInCarolina
    JohnInCarolina Posts: 30,977
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    Legume said:
    JohnInCarolina said:
    YukonRon said:
    Harley Davidson is next. They are closing another mfg site and shifting that work to their other facility in PA.
     Revenue was down 81% in 2017, and that followed a dismal 2016.
    Would be a shame if that happens, but wow what a rapid decline for them.  Not that long ago I remember them being a stock that was recommended.  
    Not their first near death experience though, weren’t they nearly dead in th 80s?
     Very possible.  I haven’t really paid much attention to them (I understand statistics too well to be a motorcycle guy), but I remember the stock recommendation from maybe 5-10 years ago.
    "I've made a note never to piss you two off." - Stike
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  • thetrim
    thetrim Posts: 11,357
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    I owned a bike (HD Road King) for many years.  Here in Fl, riding a bike is just another form of Russian roulette w the elders, kids, texters, etc, I don't think I'll get on a bike for a long time if ever again.
    =======================================
    XL 6/06, Mini 6/12, L 10/12, Mini #2 12/14 MiniMax 3/16 Large #2 11/20 Legacy from my FIL - RIP
    Tampa Bay, FL
    EIB 6 Oct 95
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  • OhioEgger
    OhioEgger Posts: 903
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    We're starting to lose a lot of icons.
    Remington, "America's oldest gunmaker" is another one facing probable bankruptcy. Very sad.
    Cincinnati, Ohio. Large BGE since 2011. Still learning.
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  • GrillSgt
    GrillSgt Posts: 2,507
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    WeberWho said:
    GrillSgt said:
    So I cranked up the old Googleator and it appears that the millenials are to blame. Ridership is down for that demographic and they have made it clear they don't want to be seen as a Harley kind of guy. HD is now concentrating on a shotgun approach trying to appeal to youth, seniors, women and non-caucasians.
    You can only blame so much on millenials. Have you seen what Harleys go for? HD can take a good amount of blame for that. 
    Tell that to HD not me. No way I’m getting on one. I have 2 friends that lost a leg during high school and a friends father lost a leg when he was younger. 
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  • northGAcock
    northGAcock Posts: 15,164
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    DoubleEgger said:
    YukonRon said:
    Harley Davidson is next. They are closing another mfg site and shifting that work to their other facility in PA.
     Revenue was down 81% in 2017, and that followed a dismal 2016.
    I guess the upper middle class white male going through a mid life crisis crowd has moved on from Harleys. 
    Better to go away as opposed to shrink like the ice cream container.
    Ellijay GA with a Medium & MiniMax

    Well, I married me a wife, she's been trouble all my life,
    Run me out in the cold rain and snow
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  • YukonRon
    YukonRon Posts: 16,989
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    northGAcock said:
    DoubleEgger said:
    YukonRon said:
    Harley Davidson is next. They are closing another mfg site and shifting that work to their other facility in PA.
     Revenue was down 81% in 2017, and that followed a dismal 2016.
    I guess the upper middle class white male going through a mid life crisis crowd has moved on from Harleys. 
    Better to go away as opposed to shrink like the ice cream container.
    They have gotten older and the appeal is just not there. I read that HD is going to make an electric bike.
    While in Europe, I had a Moto Guzzi. Rodé it for a couple years, brought it stateside, finally sold it years ago for more than I spent. Last time I ever rode.
    No way I am touring on a bike anywhere with cell phones and people over occupied while driving. Too dangerous.
    "Knowledge is Good" - Emil Faber

    XL and MM
    Louisville, Kentucky
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  • RRP
    RRP Posts: 25,897
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    GrillSgt said:

    Tell that to HD not me. No way I’m getting on one. I have 2 friends that lost a leg during high school and a friends father lost a leg when he was younger.
    Me too! A friend of mine had ridden HD all this life. After he got older he switched to a big Harley Trike. Last year an idiot went thru a red light and t-boned him. He lost  a leg... he had polio as a kid and walked with a very pronounced limp...and as you probably have figured out already...he lost his good leg!
    Re-gasketing America one yard at a time.
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  • Woodchunk
    Woodchunk Posts: 911
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    As soon as some judge says they don't have to pay back their 520mil in debt due in July, they will be fine
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  • JohnInCarolina
    JohnInCarolina Posts: 30,977
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    RRP said:
    GrillSgt said:

    Tell that to HD not me. No way I’m getting on one. I have 2 friends that lost a leg during high school and a friends father lost a leg when he was younger.
    Me too! A friend of mine had ridden HD all this life. After he got older he switched to a big Harley Trike. Last year an idiot went thru a red light and t-boned him. He lost  a leg... he had polio as a kid and walked with a very pronounced limp...and as you probably have figured out already...he lost his good leg!
    That is some terrible freaking luck in life right there. 
    "I've made a note never to piss you two off." - Stike
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  • DoubleEgger
    DoubleEgger Posts: 17,186
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    OhioEgger said:
    We're starting to lose a lot of icons.
    Remington, "America's oldest gunmaker" is another one facing probable bankruptcy. Very sad.
    Remington needs to be gone. Their firearms are absolute crap these days and they have knowingly been putting out unsafe products for years. 
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  • hondabbq
    hondabbq Posts: 1,980
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    A lot of big rockers and flipped on Gibson. Steve Dacanay, Nikki Sixx, Zakk Wylde to name a few.
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  • SemolinaPilchard
    SemolinaPilchard Posts: 1,282
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    There was time in this country when the majority smoked. Over time people got a little wiser about that. I am sure a similar thing is happening in the motorcycle world. Add to that the fact that price of a Harley today is ridiculously high. Also, Harley has lost much of its cool factor. There was a time when you saw a guy on a Harley and you knew that was not a guy to be messed with. Now, when you see a guy on a Harley you are reminded that you need to get your taxes done and you have a dentist appointment coming up.
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  • pasoegg
    pasoegg Posts: 447
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    Back in the day a Gibson guitar and a Fender amp was where you were aiming....Gibson made top shelf stuff in all their instruments in the 50's through the 70's.  And yes you bought them at small places that cared about the product and there customer service.  Gotta love those days!!!

    "it is never too early to drink, but it may be too early to be seen drinking"

    Winston-Salem, NC

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  • Acn
    Acn Posts: 4,424
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    hondabbq said:
    A lot of big rockers and flipped on Gibson. Steve Dacanay, Nikki Sixx, Zakk Wylde to name a few.
    In addition to that, rock becoming a largely culturally irrelevant, niche musical genre can’t have helped.

    LBGE

    Pikesville, MD

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  • GrillSgt
    GrillSgt Posts: 2,507
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    Passed a guy on a crotch rocket doing 75+ who was texting. (I'm doing 83 or so).

    Wife and I put 30,000 or more on our vehicle every year between visiting the grandkids and the lakehouse. It is truly unbelievable the number of people texting and driving. On the interstate you can spot them from their little mini swerves. Trucker on I65S killed 11 Mennonites headed to a wedding. He crossed the interstate and hit them head on, texting.
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  • jonnymack
    jonnymack Posts: 627
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    Just FYI, Harley Davidson revenue is down 10% for YTD 2017 vs. YTD 2016 (through 9/30/2017). Not sure where the 81% thing is coming from. They are a profitable company with $769 million in pre-tax income for 9 mos 2017. That being said their debt load is tremendous which is concerning and their financing receivables are also scary to me. 
    Firing up the BGE in Covington, GA

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