Just_Guild
Member
Seeing several articles saying Gibson is on brink of bankruptcy since they have not been able to regina cr their considerable debt.
Nothing will change at Gibson until Henry Jerkowicz sells it to people who care and want to turn around the toxic environment that now exists there, and they can start by getting rid of all the electronic side companies he bought. Then, they can concentrate on retooling Gibson's product line and start making great guitars people can afford and want to play.
Jerkowicz is the problem and the reason why Gibson is failing. He's the most hated man in the MI industry. Just ask all the mom & pop dealers he's terminated and estranged.
...Henry J is a vile, despicable man by most accounts, and a wood poacher as well.
It all makes sense now.
Henry J IS Gibsondependable!
Seeing several articles saying Gibson is on brink of bankruptcy since they have not been able to regina cr their considerable debt.
I find it interesting that CME and apparently Sam Ash are selling new Gibsons at below usual street pricing, but not GC. Must mean that they pay their bills in a timely manner and Gibson is attempting to raise money. I also wonder at the repercussions in the industry if both Gibson and GC continue to have issues, maybe even resulting in both going into bankruptcy. Pretty certain somebody will step in for Gibson, if only for the name, not so sure about GC.
Brad
Latest in Bloomberg. A group of the creditors want Henry J out before they bail Gibson out.
https://www.bloomberg.com/news/arti...re-said-to-want-new-ceo-before-funding-rescue
I find it interesting that CME and apparently Sam Ash are selling new Gibsons at below usual street pricing, but not GC. Must mean that they pay their bills in a timely manner and Gibson is attempting to raise money. I also wonder at the repercussions in the industry if both Gibson and GC continue to have issues, maybe even resulting in both going into bankruptcy. Pretty certain somebody will step in for Gibson, if only for the name, not so sure about GC.
Brad
I spent a couple of hours last night perusing the Gibson forums concerning the subject (a couple of hours of my life I'd like to have back that's for sure). I was intrigued at how many fan boys that Henry J still has out there amongst the Gibson faithful. The terms "genius", "entrepreneur", "great businessman" were thrown about to describe him as rebuttals to the company's bonds being downgraded to junk status and bond holders organizing against him. One of them was going on about how "Gibson now does over a billion in sales, so Henry must be doing something right". A couple of them credited him for Bozeman (which may be true, I don't know) but we know Ren couldn't stand him. I will say that some of their members are pretty astute financially, understand the implications of the current situation, and some have seen the writing on the wall for a long time coming. But they get shouted down by the Henry J fan boys. It was a spectacle. I guess I don't really have a dog in this fight so I can sit back and watch it all unfold. It would be good to see Henry get his come-uppance with all the people he's trampled on over the years. I wonder if he'd ever be able to get his picture with Slash again.