mike1100
Member
- Joined
- Jan 25, 2018
- Messages
- 135
- Reaction score
- 34
Gibson guitar maker files for Chapter 11 bankruptcy protection https://www.usatoday.com/story/money/2018/05/01/gibson-guitar-chapter-11-bankruptcy/567821002/
But the company said it would kill its Gibson Innovations unit, which makes Philips-branded headphones, speakers and other electronic accessories.
"Court papers call for a one-year consulting deal and compensation package for Juszkiewicz"
If this gets rid of Henry J in the long run, it can only be good news.
To me it was bizarre that they thought changing their business model was beneficial, it needed this wake up call to come to their senses.
the article said:Gibson CEO Henry Juszkiewicz said... that Gibson will "refocus on our core business" of musical instruments, which "we believe will assure the company's long-term stability and financial health."
"Juszkiewicz owns 36% of the company."
Agreed, but disappointed in the typical corporate deal. i.e., CEO brings company to it's knees, CEO gets lots of money to go away.
Meanwhile the lower level workers get nothing but unemployment checks.
walrus
Darn! Now I won’t be able to get that Les Paul Joe Bonamassa Signature model toaster-oven I’ve been wanting. :grief:
Samash still has the SG I got on clearance. It’s a killer SG, and with their payments over 2 years, less than $20 a month. You will want to get a hard case, since the gig bag it comes with, sucks. (And be prepared to wrench on the truss rod; these have been stored away awhile.)I know you are joking....but I said it before....I have been wanting to buy a Gibby Electric...and my spidey senses tell me that Gibson has not been sending much (if any) product to their vendors for months.
This sure didn't take long!
Not unexpected but sad in my opinion. I know there's a lot of Gibson haters here on this forum and maybe it's deserved, I'm not sure. I never met the man, never talked to him, never had a phone conversation with him and certainly never got to hear his view of the world. I can't speak to their electric gear (much) but I truly believe some of the Gibson acoustic gear I own can compete with any brand and any model anywhere. And, that's all I've got to say.
I don't think anyone really hates Gibson Richard (I know I don't), but a lot of us just want to see the company in better hands. Hopefully when this all shakes out that will be the case. Gibson has been in a bad way since Norlin took over really, and it's testament to the brand that it even survived at all to this point.