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Thread: Is it just me

  1. #1
    Forum Member S. Cane's Avatar
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    Is it just me

    ...or is the Gibson website down?

  2. #2

    Re: Is it just me

    At first I wondered if it could it have something to do with this article that I highlighted below, but that's not it. I would guess that their site is just experiencing a glitch. FedEx was down for a short time yesterday for me. And tbh I've been seeing some strange things happening on my computer lately like loading issues, etc.

    "Gibson had its rating lowered to Caa3, nine notches into junk territory, with a negative outlook, as maturity of $520 million in debt approaches.The privately-held company will need to refinance the debt before July 2018 or it faces a likely default. Moody's Investors Service Inc. said last week that there's "uncertainty" about the company's ability to refinance this debt and that its capital structure is "unsustainable." The industry generally is vulnerable to any dips in consumer spending, due to the often-discretionary nature of musical instrument purchases.

    But for Gibson specifically, Moody's also cited a reduction in the number of products it's selling, new regulations and turnover among senior management as causes for concern.
    Expect a significant decrease in revenue this year as the company reduces the number of SKUs in the Audio business and deals with the lingering effects of supply shortage issues that began in the first quarter of the fiscal year ended March 2018, new government regulations for certain wood products, and long-term secular pressure on guitar volumes in the Musical Instrument business.

    Gibson has $375 million in senior bond debt maturing on Aug. 1, 2018. An additional $145 million in senior bank debt has a springing maturity of June 23, 2018, if the company doesn't manage to refinance the bonds.The Nashville-based company, famous for its Les Paul guitar, has $1.2 billion in revenue annually, according to Moody's, and manufactures brands Gibson, Philips, Epiphone, Kramer, Baldwin, Onkyo, KRK and Stanton."

  3. #3
    Forum Member gibsonjunkie's Avatar
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    Re: Is it just me

    It's up now!
    "We catched fish and talked, and we took a swim now and then to keep off sleepiness." Mark Twain

  4. #4
    Forum Member ch willie's Avatar
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    Re: Is it just me

    I think Gibson is going to have to streamline. They could save a fortune by cutting out three inches of poly they put on Epiphones. That would still leave an inch and a half. Reminds me of when Krispy Kreme was merely glazing their donuts but switched to giving them a sugar encasement.
    If we'd known we were going to be the Beatles, we'd have tried harder.--George Harrison

  5. #5
    Forum Member S. Cane's Avatar
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    Re: Is it just me

    Still can't access the site.

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