Gibson files for Chapter 11......

merlin6666

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I think that this was expected by many. Interestingly:

But the company said it would kill its Gibson Innovations unit, which makes Philips-branded headphones, speakers and other electronic accessories.

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.
 

twocorgis

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"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.
 

walrus

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"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.

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
 

fronobulax

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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.

"They" was almost certainly Henry J. with a little help from his friends. Growth is almost always rewarded as being beneficial and taking a brand name into a new, but related area, has been successful in other industries. Fender branded automobile audio systems were used by Volkswagen and advertised by Slash so there is precedent ;-) IMO the attempt to branch into consumer electronics was a reasonable idea. The failure here is no one know when to pull the plug (which is typical when "the boss" has an idea and no one has the cajones to question The Boss).
 

Cougar

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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."

Sounds like a plan.

"Juszkiewicz owns 36% of the company."

That's called skin in the game!
 

twocorgis

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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

Unfortunately, that's the way of the world these days, and you see it happen over and over.
 

bobouz

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Yes, I've been expecting Henry to walk away,

as soon as he has his golden parachute fully in place.
 

AcornHouse

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Darn! Now I won’t be able to get that Les Paul Joe Bonamassa Signature model toaster-oven I’ve been wanting. :grief:
 

Kitarkus

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Darn! Now I won’t be able to get that Les Paul Joe Bonamassa Signature model toaster-oven I’ve been wanting. :grief:

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.
 

AcornHouse

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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.
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.)
https://www.samash.com/Product2_10001_10051_3560631_-1____ProductDisplayErrorView

2f269f36-cfe7-4f3e-8433-f661ba2eeae3.jpeg
 

AcornHouse

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If only Guitar Center had provided more seats for the customers! :sorrow:
 

matsickma

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Haha...

Looks like Gibson got $ to keep the guitar business intact. They will have to divest all the other electronics which they acquired at the worst possible time!
M
 

richardp69

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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.
 

twocorgis

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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.
 

dreadnut

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I personally never saw the quality issues with the new electrics that I saw on the new acoustics, the last 10 yrs or so. I love me some old Gibby's. I have 3 friends that own '60's Hummingbirds, I've played 2 of them and what a treat. Then there's my cousin's '58 LP Jr. Jr.

I really hope they can start putting out a consistent, high quality acoustic guitar again, as well as all their iconic electrics.

I'm going to have to research what will happen with the mandolins, that has always been a niche market for Gibson, in fact, at first they were "The Gibson Mandolin Co."
 

walrus

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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.

Agreed. I had a Gibson ES-135 that I really loved. I'd love to see it succeed under new management. So many iconic guitars...

walrus
 

txbumper57

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Kind of disappointing. I mean I am glad that Gibson will continue on as a Brand and hopefully get things together without Henry J, But when you are sitting in your Lawn chair with a cold drink next to the blast zone with your sunglasses on expecting a front row seat to the Mushroom Cloud and all you get is a backfire from a Mazda Miata as the driver misses a shift it is a bit of a let down, LOL!:tongue-new:

TX
 
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