- Sep 29, 2011
- Reaction score
Yep. I was responding to the quoted message in that post about Henry knowing how to sell guitars in spite of Gibson's issues.The complete misstep of the G-Force / Auto Tune and the 2015s relative the the problems at Gibson are very minor.
The leveraged purchases of all the other " Music Lifestyle " companies Henry bought killed the company's cash flow and the bondholders got increasingly worried and demanded higher and higher interest on the notes. Simply got to the point HJ could not pay the Vig. Notes approaching 9% they could not recast. So.... Henry has to hand over the keys.