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I heard Gibson filed for bankruptcy.

Sounds like Bonamassa might step in and pick up Gibson from the ashes. He's got cash so it could be a win-win. Be nice to have a player running the joint instead of a bunch of uninspired bean counters.

I just glanced at a guitar forum on FB and many of those folks hate Gibson. I don't get it? These days it seems that there is no middle ground - all black or white. It frankly makes me ill.

I have a Gibson Firebird guitar which i love dearly and a Fender P-Bass which rocks the house. Why would I be fool enough to hate Fender or Gibson?

Disclaimer - I was really cheesed off at Fender over the CBS baloney but got over it.

Talbot

Gibson has been struggling for a long time - a lot of bad marketing decisions, such as: robotuners; selling their own brand of overpriced studio monitors; having way too many lower-priced LP models with less-than-ideal components, seriously hurting the sales of the better models.
Chapter 11 bankruptcy is a tool to allow the company to avoid paying off debt while still allowing them to purchase materials to keep manufacturing.
I don't understand 'brand-specific' hate. Usually its caused by ignorance.

we were talking about this at last night's gig. Monty (PJAZZ drummer) mentioned that Joe B was interested in buying GIBSON but learned the company would go for about a billion.....and JB is "only" worth 40 million.

He could be the most famous member of an "ownership group" that's trying to aquire it with much wealthier backers. Is Magic Johnson really the new owner of the LA Dodgers?

schmedidiah wrote:He could be the most famous member of an "ownership group" that's trying to aquire it with much wealthier backers. Is Magic Johnson really the new owner of the LA Dodgers?

Yep, Magic is part of the group that bought the Codgers...er, Dodgers. From what they say, he owns a significant interest. Sorta like Jeter w/ the Marlins.

On the NewsHour last night they were yakkin' 'bout Gibson. There are a couple of groups looking into buying. But a billion is a pipe dream. When you go broke--be it due to mismanagement, poor biz decisions, market conditions, etc.--you don't get to demand top dollar. The Gibson name will only carry so far, and will be diminished by the low-end guitars they've been making.