Login required to started new threads

Login required to post replies

Yikes! Gibson declaring bankruptcy?
Quote | Reply
Lets hope they stay a float it would be a real shame to lose such a icon in the music business

http://www.ajc.com/news/national/gibson-guitar-company-maker-the-les-paul-facing-bankruptcy-after-116-years-business/OlaIEYdtLEv1rP92RvZFrM/
Quote Reply
Re: Yikes! Gibson declaring bankruptcy? [50+] [ In reply to ]
Quote | Reply
Gibson will never go away. The name is too valuable. Someone will always own/sell Gibson instruments, whether it’s the current ownership or someone new down the line.
Quote Reply
Re: Yikes! Gibson declaring bankruptcy? [50+] [ In reply to ]
Quote | Reply
They have been charging a premium for sub par instruments for a long while now. Brand new $5k guitars should not have finish flaws, improperly cut nuts, buzzing frets, etc.

Good riddance to these owners. Gibson is like HD, a valuable product that could be picked up by another ownership group.
Quote Reply
Re: Yikes! Gibson declaring bankruptcy? [50+] [ In reply to ]
Quote | Reply
Meh. I haven’t watched any of his movies since his anti Semitic rant when he got caught drunk driving.

Fuck that guy.

===============
Proud member of the MSF (Maple Syrup Mafia)
Quote Reply
Re: Yikes! Gibson declaring bankruptcy? [50+] [ In reply to ]
Quote | Reply
My father worked at Gibson in the 50s while going through college. I loved to hear his stories about working there. My favorite was always the story about when he worked in the sanding shop. The foreman would come through and pick up guitars that had been completed by the sanding guys. The foreman would hold them up to a single light bulb in the ceiling and slowly turn them looking for blemishes. If he found a blemish he would smash that guitar on the floor and yell at whoever sanded it. I loved that story for some reason!
Quote Reply
Re: Yikes! Gibson declaring bankruptcy? [tritimmy] [ In reply to ]
Quote | Reply
That is awesome!

As someone who has spent hours upon endless hours during an apprenticeship hunched over a sanding table and being yelled at by journeymen, I can only imagine how those poor bastards felt.

Long Chile was a silly place.
Quote Reply
Re: Yikes! Gibson declaring bankruptcy? [BCtriguy1] [ In reply to ]
Quote | Reply
For sure. I can't for the life of me remember how much he said he was paid to do that job. I'll have to ask him. It was crazy low though, even for those days.
Quote Reply
Re: Yikes! Gibson declaring bankruptcy? [50+] [ In reply to ]
Quote | Reply
She hasn't even recorded anything new since the 90s.
Quote Reply
Re: Yikes! Gibson declaring bankruptcy? [CaptainCanada] [ In reply to ]
Quote | Reply
Ah shit LOL

_________________________________
I'll be what I am
A solitary man
Quote Reply
Re: Yikes! Gibson declaring bankruptcy? [spookini] [ In reply to ]
Quote | Reply
spookini wrote:
She hasn't even recorded anything new since the 90s.

I was always more a Tiffany guy anyway.
Quote Reply
Re: Yikes! Gibson declaring bankruptcy? [tritimmy] [ In reply to ]
Quote | Reply
tritimmy wrote:
My father worked at Gibson in the 50s while going through college. I loved to hear his stories about working there. My favorite was always the story about when he worked in the sanding shop. The foreman would come through and pick up guitars that had been completed by the sanding guys. The foreman would hold them up to a single light bulb in the ceiling and slowly turn them looking for blemishes. If he found a blemish he would smash that guitar on the floor and yell at whoever sanded it. I loved that story for some reason!


Quote Reply
Re: Yikes! Gibson declaring bankruptcy? [mattr] [ In reply to ]
Quote | Reply
LOL!!! That's awesome!!!

If my folks had the internet, I'd send that to them!
Quote Reply
Re: Yikes! Gibson declaring bankruptcy? [50+] [ In reply to ]
Quote | Reply
Mel Gibson is declaring bankruptcy?

They constantly try to escape from the darkness outside and within
Dreaming of systems so perfect that no one will need to be good T.S. Eliot

Quote Reply
Re: Yikes! Gibson declaring bankruptcy? [len] [ In reply to ]
Quote | Reply
len wrote:
Mel Gibson is declaring bankruptcy?


It's that huge church tithe.
Quote Reply
Re: Yikes! Gibson declaring bankruptcy? [DJRed] [ In reply to ]
Quote | Reply
DJRed wrote:
spookini wrote:
She hasn't even recorded anything new since the 90s.


I was always more a Tiffany guy anyway.

Weren't both of them eaten by a mega-python?
Quote Reply
Re: Yikes! Gibson declaring bankruptcy? [50+] [ In reply to ]
Quote | Reply
50+ wrote:
Lets hope they stay a float it would be a real shame to lose such a icon in the music business

http://www.ajc.com/news/national/gibson-guitar-company-maker-the-les-paul-facing-bankruptcy-after-116-years-business/OlaIEYdtLEv1rP92RvZFrM/

They'd end up bought out. Name, guitar stock (bodies, necks, etc.), probably some tools, dies and machines. And then end up coming out of a factory in Taiwan, unfortunately.

I've never been a big Gibson guy (Fender's my brand), but I'd buy an SG or an LP (Gibson, not Epiphone...which already comes out of mainland China, for the most part) if it helps keep the company afloat. They have some big notes (and not the musical kind) coming due, though, that I hope they can cover.

"Politics is just show business for ugly people."
Quote Reply
Re: Yikes! Gibson declaring bankruptcy? [len] [ In reply to ]
Quote | Reply
len wrote:
Mel Gibson is declaring bankruptcy?

NO! debbie.
now you can go post on how youre an idiot.

ΜΟΛΩΝ-ΛΑΒΕ
we're doomed
Quote Reply
Re: Yikes! Gibson declaring bankruptcy? [50+] [ In reply to ]
Quote | Reply
50+ wrote:
Lets hope they stay a float it would be a real shame to lose such a icon in the music business

http://www.ajc.com/news/national/gibson-guitar-company-maker-the-les-paul-facing-bankruptcy-after-116-years-business/OlaIEYdtLEv1rP92RvZFrM/

Chapter 11 BK (which is what I understand they're facing) isn't the one where a company shuts down and liquidates its assets to pay its creditors. Rather, and very generally, Chapter 11 puts all the debtor's debts on hold and forces the debtor and creditors to negotiate a plan that will allow the debtor to remain in business while paying its creditors over time. Some creditors (the big fish) would be made whole or nearly so, while others (the small fish) would receive pennies on the dollar. Once the plan is substantially performed, the debtor receives a discharge and carries on.

That said, if the debtor can't convince the court that it can make the plan work, then the BK could be dismissed or converted to the kind in which the assets are liquidated to generate cash for the creditors.

So, Gibson isn't going anywhere just yet. They're taking on water but they're still afloat (for now).

War is god
Quote Reply