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Another Gibson bad news story

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Another Gibson bad news story

Postby Scramble » Tue Feb 13, 2018 11:46 pm

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Re: Another Gibson bad news story

Postby adrian_k » Wed Feb 14, 2018 8:31 am

Same story really, just another turn of the screw.

Anyone know if the core business is profitable? This article says they have a balance sheet and 'operational' problem however revenues are good at $1billion annually, but are they losing money on that turnover?
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Re: Another Gibson bad news story

Postby Wonks » Wed Feb 14, 2018 9:59 am

Probably, but not much. And what profit they are making seemingly isn't enough to cover interest payments on their loans. They've borrowed too much money to buy other companies that they've done nothing with or closed.
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Re: Another Gibson bad news story

Postby radian » Wed Feb 14, 2018 1:03 pm

Should have stuck to guitars.
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Re: Another Gibson bad news story

Postby Wonks » Wed Feb 14, 2018 1:16 pm

And even then they should stick to guitars that people want to buy.
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Re: Another Gibson bad news story

Postby zenguitar » Mon Feb 19, 2018 12:11 am

More background for those interested.

https://www.reuters.com/article/us-guit ... SKBN19X2HV

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Re: Another Gibson bad news story

Postby Wonks » Mon Feb 19, 2018 8:47 am

That Reuters piece seems very badly researched. "As well as Amazon.com, musicians can now buy their instruments online from Sweetwater Sound Inc," .

Or online from Guitar Center themselves or any other musical instrument store that has a website. And 'now buy' sounds like Sweetwater only set up a website last week, when like Guitar Center, they've been selling online for years.
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