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OT - Gibson Guitars Facing Bankruptcy
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GrateEggspectations
Posts: 9,296
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.
I anticipate bankruptcy would create a hike in pricing on the used market. Could be a good time to pick up a collectible.
Comments
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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 -
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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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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Sounds like smashing guitars on stage just needs to become a thing again.
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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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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.
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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 -
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.
Re Gibson, I'm guessing they survive a reorg. -
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. -
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.
Re Gibson, I'm guessing they survive a reorg.
The 1 in 5 persons currently receiving disability cannot afford the cost of ownership. Thanks for all the help Washington. -
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've made a note never to piss you two off." - Stike -
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. -
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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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."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 -
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."I've made a note never to piss you two off." - Stike -
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.
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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 -
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. -
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.
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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.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 -
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.
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 -
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.Re-gasketing America one yard at a time. -
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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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.
"I've made a note never to piss you two off." - Stike -
OhioEgger said:We're starting to lose a lot of icons.
Remington, "America's oldest gunmaker" is another one facing probable bankruptcy. Very sad. -
A lot of big rockers and flipped on Gibson. Steve Dacanay, Nikki Sixx, Zakk Wylde to name a few.
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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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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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hondabbq said:A lot of big rockers and flipped on Gibson. Steve Dacanay, Nikki Sixx, Zakk Wylde to name a few.
LBGE
Pikesville, MD
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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. -
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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